Investment Property
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 0% |
| Lender Rate: | 16% | Borrower: | soulctrlr |
| Finished | State: | MI | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-10-10 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Oct 09, 2007 | Current |
|
Purpose of loan: The purpose for my loan is for 28 unit apartment building.I will use this loan for part of the down payment and the rest I will use from my reserves.Once I close on this property I will be getting $4,500 minimum in cash flow monthly. Also,I'm in the middle of refinancing one of my properties and will be getting a line of credit of $75,000.There is no problem paying my bills. My financial situation: As a investor with 8 years experience, I have a solid rental income with a portfolio of 10 + properties. However, the majority of my income comes from wholesaling properties, then selling the property to a buyer as a primary residence or to one of many investors I sell properties to for their rental portfolio. I also hold mortgages on some of my properties to qualified buyers and then sell the mortgages to other lenders at a discounted rate. I fund many of my deals with my own cash and have as many as 5 projects going at one time. Ranging from 20K to 400K. Although I am always looking for alternative ways to fund deals. Prosper offers just that. Todays hard money lenders can't touch this deal when you take into consideration the junk fees and closing costs they charge.I have 7 plus mortgages on my credit profile. I have very strong credit (720 credit scores), I also have excellent business credit and would be glad to forward my tax id # you can check it online.I can explain in more detail if lender wishes. Monthly net income: $ $15k on a slow month, I have years of reserve in savings & investments. Monthly expenses: $ Housing: $ 6800 Insurance: $ 340 Car expenses: $ Utilities: $ 175 Phone, cable, internet: $ 200 Food, entertainment: $ 125 Clothing, household expenses $ Credit cards and other loans: $ 4900 Other expenses: $ |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 352970 | consolidate some debt | B | $4,494 @ 12% | Jun 18, 2008 | Expired |
| 357561 | consolidate some debt | B | $4,423 @ 18% | Jun 26, 2008 | Expired |
| 361529 | consolidate some debt | B | $4,360 @ 20% | Jul 03, 2008 | Expired |
| 365544 | consolidate some debt | B | $4,360 @ 20% | Jul 11, 2008 | Expired |
| 369458 | consolidate some debt | B | $4,360 @ 23% | Jul 18, 2008 | Expired |
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