Rental unit purchase
Homeownership Verified

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Listing Information
Amount: $22,000.00 Status: Loan created
Grade: AA DTI: 24%
Lender Rate: 10% Borrower: Dmdback
Time Left: Finished State: AZ
Funded: 100% Group: Libertarians
Loan Information
Loan Status: Paid Origination Date: 2008-01-17 EricsCC ROI: 10%
Status History
Jan 17, 2008 Current
Sep 28, 2008 Payoff in progress
Oct 03, 2008 Current
Oct 04, 2008 Payoff in progress
Oct 09, 2008 Paid
.

I plan to use funds to purchase townhouse unit to rent out. This unit came on the market this morning, and owner needs to sell it right away to avoid foreclosure. Since I already own 2 units (live in one and rent one out), I need to put down 20% to qualify for commercial loan. Rental market in this zip code (85226) is very good, since this area is highly desirable because of its school system, shopping and entertainment (Chandler Fashion Center) and proximity to freeways. Also ASU campus is only a few miles away. It took me only 3 days to rent my unit out.

My monthly income/expenses as follows:

Salary $8,400

Rental income $850

Mortgages $2,380

Car payments $688

Car insurance $85

Health/dental ins $1,083

Food $500

Bills $1,000

Thank you for your support and feel free to ask me questions.

Borrower's Other Listings
7025 Dog house A $25,000 @ 9% Apr 23, 2006 Withdrawn

 

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