Renovate Assisted Living Home to Attract Residents
| Listing Information | |||
|---|---|---|---|
| Amount: | $13,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 42% |
| Lender Rate: | 15% | Borrower: | justg4me |
| Finished | State: | MD | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-08-25 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Aug 22, 2008 | Current |
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Purpose of loan: I own a Victorian-era home that I?m currently utilizing as an Assisted Living Facility. I plan to make the following upgrades to my property: 1) Update the first floor bathroom and the solarium leading to the bathroom. 2) Upgrade the kitchen by replacing the countertops, installing a new dishwasher, stove, and refrigerator, and laying new tile on the kitchen floor. 3) Install a new front door. 4) Replace and lay new flooring in the foyer. 5) Upgrade the light fixtures throughout the house. After making the necessary upgrades, I am certain that I will attract more prospective residents. My assisted living business has the potential to make an additional $15,000 per month once I find occupants for the remaining six bedrooms that are available in my home. My current financial situation: I am a good candidate for this loan because I have excellent credit and several personal references that I can supply upon request. The financial breakdown consists of: $19,000 Monthly Income 5,500 Monthly Mortgage 9,000 Monthly Payroll 1,100 Groceries 1,400 Monthly Bills 500 Prosper ($1,500) Monthly Profit for Now...After sprucing up the facility -- the skies the limit!!! The reason for the public record is because I had to file a Chapter 7 Bankruptcy in February of 1999 due to a failed partnership. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 374273 | Fixing up a older home to be able to rent it out. | AA | $17,000 @ 21% | Jul 30, 2008 | Withdrawn |
| 378340 | Help Needed for Family-Run Business | AA | $15,000 @ 17% | Aug 05, 2008 | Expired |
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