SneakAwayCabin.com - Remodeling Deck, Kitchen, and Furniture
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 0% |
| Lender Rate: | 12% | Borrower: | ElliotG |
| Finished | State: | NC | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-07-25 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Jul 25, 2008 | Current |
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Purpose of loan: This loan will be used to remodel my investment property called Sneak Away Cabin. I use three good resources for advertising and my website location is www.sneakawaycabin.com. The items I need to remodel are: (1) Outdoor deck structured damage ($4500 quoted), (2) kitchen floor and counter upgrades ($2500), (3) furniture and miscellaneous upgrades ($2000). It was originally furnished and built in early 1998. I have personally owned the cabin since 2/2004 and I enjoy keeping it well maintained. My financial situation: I am an excellent candidate for this loan because I am a responsible self employed business man who pays 100% his bills on time. I feel I have a solid investment here and I have almost five years of history with the cabin. My cabin generated $34K last year of revenue and I am predicting 38K for 2008. Last year I rented 285 days out and predict 300+ days rented this year. I?m consistently renting out 25+ days each month at rates of $115 - $165 per night. I am on track to having my first mortgage paid off within the next eight years and not looking to for a second mortgage for it. Personally, I own two other companies where I could use their monies to pay for Sneak Away remodeling - if it was necessary. As a business man, I feel it?s necessary to keep each business separate from one another. You will also notice I only have 5 accounts on my credit account: 2 credit cards, 1 car payment, 2 house payments (investment home and main home. I don?t usually borrow any money. Sneak Away Cabin bills are: $1600 (mortgage, interest, taxes) $ 40 (HOA) $ 100 (gas) $ 145 (electric) $ 30 (water) $ 35 (telephone) $ 100 (advertising) Total of $2050 each month. I will and do have more than enough income to pay for prosper monthly investments. I appreciate your help and feel free to ask me questions about my income or about Sneak Away Cabin. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 362849 | www.sneakawaycabin.com; remodeling kitchen, deck, furniture | AA | $8,000 @ 14% | Jul 06, 2008 | Expired |
| 367082 | Sneak Away Cabin - Remodling Deck, Kitchen, and Furniture | AA | $9,000 @ 16% | Jul 14, 2008 | Withdrawn |
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