Asset Investor Managing Timing
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,222.00 | Status: | Loan created |
| Grade: | B | DTI: | 41% |
| Lender Rate: | 18% | Borrower: | AssetInvestor |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-17 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Jan 17, 2008 | Current |
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I?m posting this essentially because I got an ?offer? via my email that I was eligible to borrow more through Prosper, as it appears that since I have paid down an original $25k loan I received about a year and a half ago, there was now an additional $9k ?availability? Since I had an excellent and painless experience, I figured why not try to ?re-up? for the additional amount available. Since I candidly have not reviewed what Prosper now recommends be included in write-ups such as these, I will just use my past posting, shortened, as a guide. If investors/lenders have interest, that would be great. If not, no problem, and Happy New Year to all. My particular circumstances may be a bit different than other Borrowers though Prosper, but that is what makes this environment a great one, for diversification and meeting the needs of different parties. Loan: Basically managing liquidity. A few extra basis points on a loan is not what I am seeking to save, hence this opportunity may have a good risk/reward profile. A benefit to me of keeping some debts outstanding as asset investments continue to arise with higher potential returns. Personal: Late 30?s guy; married; two young kids. College business degree and MBA. Live in Marin County, CA (San Francisco Bay Area). Pretty standard life ?work, family & friends. Not sure if shows or is available to lenders/investors to review, but past loan of $25k ($15k outstanding balance now), always paid on time, and will continue to do so ? so some personal history, I suppose. Probably better data than anything I could write here. I have no plans to risk the negative credit ramifications that would result by defaulting. Credit/Debts/Assets: Credit reports, I think, do poor job of reflecting on leveraged situations. Relatively higher debt, but relatively higher assets probably best describes my situation. Never late or struggling on obligations, as I have built up some assets in past few years, that now are starting to come to fruition. Cars Probably boils down to the following. Not including personal residence, my assets (mostly pending profits and ownership positions in deals) are probably $400-500k, whereas my debts are about half that, so net equity of $200-250k. Personal residence equity is probably another $200k (subject to this interesting housing environment in which we find ourselves!). I think Prosper's debt calcs include a home equity loan as revolving, whereas I view that as a 2nd in addition to my first mortgage - not sure what is seen by lenders, but just a comment. Income: Jumped back into a more traditional job in mid-2007 (vs. self employed the prior 3 yrs). Base income > $150k. Bonuses and other upsides should double, or more that. In fact, received $40k in 2007 from asset sales, and have another $125k sitting in trust account that cannot access until some remaining portfolio assets are sold; in a structured deal in which I am a minority investor. Day job - I lead acquisitions at a smaller real estate fund. Background is corporate M&A and real estate investments (commercial and industrial, not residential). Sorry for what is likely relatively less detail that what may be needed, or suggested by Prosper these days. I think real world experience probably most beneficial via past year and half of on-time payments. Thanks, and best regards. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 29080 | Refi & Monetize contracted deal proftits | B | $25,000 @ 15% | Aug 04, 2006 | Withdrawn |
| 29087 | Refi & Monetize Contracted Deal Profits | B | $25,000 @ 19% | Aug 04, 2006 | Loan created |
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