AT&T Lineman Connects w Multi-Unit Rental "A" Credit Low DTI
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 30% |
| Lender Rate: | 15% | Borrower: | rob742 |
| Finished | State: | IL | |
| Funded: | 100% | Group: | Future Innovations |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-12-21 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Dec 21, 2007 | Current |
| Oct 30, 2008 | Payoff in progress |
| Nov 05, 2008 | Paid |
|
Hello & thank you for looking over my loan request. I am currently employed by AT&T as a Line Repairman earning a good salary. On the side, I have started a nice business providing general maintenance for multi unit buildings paid for by condo associations which is growing fast! The side business was started to help a friend out has turned into a great passion for me. I am amazed at how fast new accounts have turned up. You can visit my website at www.propertycare1.com. When I am not working or following my dreams with the business, you can find me spending time with Titus and Cash, my two ?pride and joys? Miniature Pinchers that have stolen my heart and keep me sane!! Recently, I came upon a good opportunity to purchase one of the multi unit buildings I service which is going into foreclosure. Two years ago this property sold for more then two times what it is selling for now. If I am able to purchase the building, the payments would end up costing me the same amount for what I am currently paying in rent and I will have the two extra rental units for increased revenue. In order to make this prospect a reality, I will need the $25,000 required for the down payment. If I am fortunate to be funded through Prosper, the money will be used entirely for the down payment on this building. The four past delinquencies on my credit profile were from a temporary lay off 8 years ago in which I had to rely on credit cards during that period, getting behind on a few accounts. I have since completely paid off all my obligations and cleaned up my credit rating to its current ?A? status. Monthly Net Income: I earn $3,300/mo. net from my AT&T position, plus overtime of approximately $300 a month, along with another $2,500/mo. from my maintenance business. Monthly Expenses BEFORE PROSPER Loan: $2,522 Housing: $1,100 Insurance: $111 Car expenses: $511 Utilities: $80 Phone, cable, internet: $70 Food, entertainment: $250 Clothing, household expenses: $200 Credit cards & other loans: $200 Monthly Expenses AFTER PROSPER Loan: $3,372 As you can see, I will have over $3,578 left with which to pay my Prosper loan. My financial situation is very good and with the purchase of this multi unit building, I will be adding the increased income from the two rental units. I am a safe investment for Prosper lenders as I always repay my debts. Also, I know and extremely value the good status of my credit rating, and will do nothing to damage that either now or in the future. This loan will be repaid each month on time through automatic deductions from my bank account and I sincerely promise to never default on this loan. I deeply appreciate the faith and support you have shown me with your bid! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 242348 | SAFE bet. Cutting expenses /Investment property | A | $25,000 @ 10% | Dec 02, 2007 | Withdrawn |
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