Becoming an Entrepreneur
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 15% |
| Lender Rate: | 11% | Borrower: | dnjohnsn |
| Finished | State: | IL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-03-31 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Mar 29, 2008 | Current |
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Purpose of loan: This loan will be used to pay down 100% of my current credit card debt. This will allow me to devote my undivided attention to successfully launching my career as a full-time Investor and Realtor. I do not want to be part of the rat-race for the next 35 years of my life. My financial situation: I am a superb candidate for this loan because I have always prided myself on paying my bills on time. I have a good credit score, but my high utililization of credit card debt in recent months has lowered my score. More importantly, I have a very specific plan in terms of how I will generate income for the remainder of the year. I was laid off from my corporate job as of April 2007. Instead of devoting myself to promoting myself as an entrepreneur immediately, I "coasted" for the next 6 months. This was due partly to the fact that I was still getting paid from my previous employer until July 2007, I received a lump sum bonus of around $20K during the same time frame and I had to make the transition from being an employee to becoming my own boss. Needless to say, the funds I had accumulated quickly ran out as I was using it to pay living expenses rather than putting the funds away for emergency use. Around January of 2008, I finally made the transition out of the employee mindset for good. I now realize that I really do want to be my own boss and that I have what it takes to do it. The problem I am facing now is that my failure to push myself during the past 11 months has set me back somewhat financially. I have recently obtained a full-time salaried position with a Fortune 500 company and I have committed myself to getting rid of all debt by December 2008. I also plan to continue to work as a Realtor and also an Investor. I obtained my real estate license in Feb 2006. In 2007, I bought and rehabbed 2 properties, one of which was sold in 12/07 and the other which I maintain as a rental property. I am absolutely committed to becoming a very successful entrepreneur. It has now become a "burning desire" in the words of Napoleon Hill. Any help that you can provide is greatly appreciated. Sincerely, Trying to Exit the Rat Race |
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