Property Acquisition
| Listing Information | |||
|---|---|---|---|
| Amount: | $20,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 31% |
| Lender Rate: | 19% | Borrower: | the-compassion-lionheart |
| Finished | State: | CO | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-09-04 | EricsCC ROI: | 18% |
| Status History | |
|---|---|
| Sep 04, 2008 | Current |
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Purpose of loan: This loan will be used to acquire investment property. My wife and I currently own 13 rental units and have just completed our first rehab. We are interested in continuing to buy properties to rehab and either keep and rent or sell. We diligently follow the "70% Rule" and can supply proof of all of our current rentals. I also have a business partner with extensive experience in new home construction. I will repay this loan with proceeds from the sale/rental of the properties acquired. My financial situation: I am a good candidate for this loan because I have a proven track record of payment on all outstanding loans, both past and present. I have never defaulted on a loan. We have experience with real estate investing and are in the process of expanding our business and need your help. |
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