Real Estate Investment
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Withdrawn |
| Grade: | AA | DTI: | 3% |
| Lender Rate: | 10% | Borrower: | BankofDad |
| Finished | State: | NC | |
| Funded: | 2% | Group: | (No Group) |
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Purpose of loan: This loan will be used to complete the purchase of 2 rental properties. I currently own 4 similar rental properties, which are fully leased and generate over $600.00 of excess cash flow per month. I have contracts to purchase 2 additional rental properties and I will use these funds to complete the purchase. These 2 properties will add an additional $300.00 of monthly excess cash flow (after covering these Prosper loan payments). My financial situation: I am a good candidate for this loan because I have a very stable primary source of income. I have worked for over 14 years for a single Fortune 25 company and my "day-job" income can more than cover these loan payments (as well as the mortgage payments on all the rental properties) even in a worst case downside scenario where all 6 properties were vacant. For comparison, all 4 rental properties currently owned have been leased since I purchased them and I already have tenants on wait list for these 2 properties. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 30270 | Borrowing to Invest | AA | $25,000 @ 6% | Aug 09, 2006 | Withdrawn |
| 65140 | Borrowing to Fund Prosper Loans | AA | $2,500 @ 8% | Nov 21, 2006 | Withdrawn |
| 254623 | Borrowing to Invest | AA | $2,500 @ 8% | Dec 22, 2007 | Expired |
| 260216 | Prosper Lender | AA | $2,500 @ 10% | Jan 04, 2008 | Cancelled |
| 364665 | Investment | AA | $10,000 @ 9% | Jul 09, 2008 | Loan created |
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