BARGAINS ARE EVERYWHERE AND HOUSTON MARKET IS STILL STRONG!!
| Listing Information | |||
|---|---|---|---|
| Amount: | $12,400.00 | Status: | Loan created |
| Grade: | C | DTI: | 46% |
| Lender Rate: | 17% | Borrower: | HoustonRealEstate |
| Finished | State: | TX | |
| Funded: | 100% | Group: | Small Business & Self Employed |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-04-11 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Apr 11, 2008 | Current |
|
Purpose of loan:I want to invest in several properties in the next month. I have done all the research and these properties are a must buy and can generate 400 a month profit each. I will use this loan to do minimal repairs on the homes. Because of the media, many people are renting and landlords can ask top dollar for lease. I plan on doing updates on the properties and leasing or selling them. Whichever comes first. I would rather lease them and have the renter pay my investment. These properties have 35% equity in them worst case scenario. I am a real estate company owner and have been investing in properties for over 5 yrs. Do the research, Houston is one of the strongest markets in the country because of its cheap cost of living, thriving business economy and energy sector/proximity to gulf. I have a relationship with an area bank and have the ability to have first shot at these homes. I wish I could by most of their inventory, but I will take what I can get and be smart about it. My financial situation: I make a considerable amount of more money than my income states but as a self employed business man, I take advantage of what the government will let me write off. I currently have a loan in Perfect standing with Prosper and continue to have zero late payments on all my tradelines/loans. My credit is not as high because of the new accounts that I have recently opened when I purchased a new home last year. Because of the inquirees in the recent past and the history of my new accounts being so recent, my score isnt as high. I have no collections and consider myself a financial and budget specialist. Monthly net income: $ 8000-10000 Monthly expenses: $ 3700 total Housing: $800 Insurance: $ 75 Car expenses: $ 200 Utilities: $ 300 Phone, cable, internet: $ 100 Food, entertainment: $ 500 Clothing, household expenses $ 200 Credit cards and other loans: $ 1525 Other expenses: $ 0 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 144203 | Buying a home/A great American Investment | A | $15,000 @ 14% | May 29, 2007 | Loan created |
| 286251 | Plan to be debt free within two years | D | $12,400 @ 15% | Feb 29, 2008 | Withdrawn |
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