Leverage - Replace Roof on Rental Property
| Listing Information | |||
|---|---|---|---|
| Amount: | $11,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 7% |
| Lender Rate: | 10% | Borrower: | DebtManager |
| Finished | State: | WI | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-09-18 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Dec 04, 2006 | Current |
| Jun 03, 2007 | Payoff in progress |
| Jun 09, 2007 | Paid |
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I have a roof on a rental property that I own that needs to be replaced; total tear off of three layers of shingles including cedar shake, OSB, then new dimensional shingles and new gutters; also a new roof on the garage as well. Ive got more than enough money to pay for the roof ouot of pocket; but Im coming to Prosper to try my luck because: 1) I can can use my LENDING Prosper payments to pay for my borrowing payments (each are three year loans, I would receive the net interest difference). 2) I can increase my tenants rent. 3) I can get a tax deduction for depreciation of the roof and the interest that Im paying to Prosper leaving my effective rate at about 8.25. 4) I want to lock in a fixed rate in the rising interest rate environment given the fact that the Fed could raise rates again due to inflation. 5) If all the loans I have made to Prosper participants fails to pay me back, my tenants move out, my car stalls and my cat dies; I can still pay lenders back with my substantial ETrade accout. That said I would be happy to forward an actual statement to anyone lending 8.50 or below and minimum of $1000. Just recently I started my own group called Leverage. Its a group that focuses on building wealth for people; hopefully its a medium of exchanging ideas as well as financing wealth through Leverage. Email me any questions, and thanks. PS - You cant revise your loan description on here; so I had to withdraw my last request. Also, you cant check messages you SENT (saying I wanted to revise my listing description). |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 35544 | Replace a Roof on a Rental Property - Leverage | A | $11,000 @ 11% | Aug 30, 2006 | Withdrawn |
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