Build my Prosper portfolio
| Listing Information | |||
|---|---|---|---|
| Amount: | $1,250.00 | Status: | Loan created |
| Grade: | A | DTI: | 4% |
| Lender Rate: | 8% | Borrower: | SIU_Saluki_Lending |
| Finished | State: | IL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2008-01-22 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Jan 18, 2008 | Current |
| Oct 03, 2008 | Payoff in progress |
| Oct 06, 2008 | Paid |
|
The purpose of this loan is to build my loan portfolio here at prosper. I will complete my MBA with a concentration in Finance in March. Applying my knowledge from my studies I understand that I can increase my return on the equity I have invested in Prosper by becoming levered as long as the rate of return exceeds my cost of capital. I have been a lender here since February of 2006, successfully funding 23 loans. My 16 active loans create a cash flow of around $28 per month and will use the money from this loan to fund an additional 24 loans and increase my monthly cash flow to $70, more than enough to cover my monthly payment. I typically build my portfolio around borrowers who?s credit rating is ?A? or higher and have low debt to income ratios. The objective is to use the cash flow from the loan payments received to pay for this loan, however I can easily cover this payment with excess money earned from my day job as a retail store manager. After tax withholding, insurance, and 401K contribution my monthly net pay is $2155. I am also in the advantageous position of not having a monthly rent or mortgage payment as the home that my wife and I live in has been in my family for three generations. I own my car outright, so the auto expense reflects gasoline, maintenance and insurance. Monthly expenses: $1345 Household Maintenance: $100 Electric: $80 Natural Gas: $140 Phone: $60 Cell Phones: $160 Cable/Internet: $105 Groceries: $300 Auto Expense: $200 Dining Out/Entertainment: $200 Monthly Income: $2155 Monthly free cash = $810 Thank you for your consideration. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 6826 | Reinvest in Prosper | A | $1,000 @ 6% | Apr 20, 2006 | Withdrawn |
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