Kitchen Upgrade
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,700.00 | Status: | Loan created |
| Grade: | AA | DTI: | 13% |
| Lender Rate: | 7% | Borrower: | jackpot82 |
| Finished | State: | NC | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-11-05 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| Nov 02, 2007 | Current |
| Nov 05, 2008 | Payoff in progress |
| Nov 08, 2008 | Paid |
|
Purpose of loan: This will be used for repairs to one of my rental properties. I currently have 2 and hope to add another is a couple of years. One of my properites was damaged by the last tenant. The damage was not severe, but I wanted to take the opportunity to upgrade the kitchen while I was at it. I try to keep my properties looking nice. The cabinets are getting old and I want to replace them, along with the counter top that needs replacing. The better the property looks the easier it is to rent. I could dip into my reserve funds but I like to keep a certain amount available for the rental properties in case of costly emergency repairs. I could probably get by without doing much in the way of repairs, but like I said, I want the property to look nice. My financial situation: My financial situation is fine and I'm doing this because I want to, not because I can't pay for the work out of my own pocket. I eventually want to be a lender on this site, but will need to convince my wife. I currently have 2 rental properties as well as IRA's for my wife, myself and our daughter. My credit rating is Excellent and like the idea of "the little guy" making a profit from a loan instead of the banks. I wish you all good luck in your investing on Prosper and hope to join you soon. Monthly net income: $4300 Monthly expenses: $2494 Housing: $1300 Insurance: $70 Car expenses: $179 Utilities: $175 Phone, cable, internet: $120 Food, entertainment: $500 Clothing, household expenses $70 Credit cards and other loans: $80 Other expenses: $ |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 396420 | Investment Property Repairs | A | $5,000 @ 9% | Sep 11, 2008 | Loan created |
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