Investing in Foreclosure Home
| Listing Information | |||
|---|---|---|---|
| Amount: | $17,000.00 | Status: | Expired |
| Grade: | AA | DTI: | 27% |
| Lender Rate: | 15% | Borrower: | mrs-investor |
| Finished | State: | NJ | |
| Funded: | 49% | Group: | (No Group) |
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Purpose of loan: This loan will be used to fund the acquisition and rehab of a foreclosure property in Indianapolis, IN. The rehab is approximately $15,000. I will be all into the property at $25,000. Our exit strategy on this deal is to buy, rehab and rent. I will be able to pay off the loan using the income from the rent. This is one of the best real estate markets in history, for a buyer/investor. We have been buying properties more frequently in the past 6 months than we have ever done in the past. This is a great time to invest and be profitable in real estate. We have a team set up in Indianapolis to professionally rehab the property by licensed contractors. We monitor the rehab throughout the entire process and have checks and balances in place to make sure that everything is done up to code. We look to provide "safe, clean and functional" properties for good families to live in. My financial situation: I am a good candidate for this loan because I've never used Prosper for funding, but figured I'd try it out. I have the money in my bank account right now to pay off this loan immediately, should that ever become an issue. I have a stable job as well, but hope to let me investing in the next couple of years allow me to support myself. We have recently bought, rehabbed, and sold a property in Kansas City, MO in this type of real estate market. We closed in July, 2008 with a profit of over $27,000. We are experienced in what we do and thoroughly evaluate every aspect of a deal before entering it. Thank you and I hope you will join me in funding my deal. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 383762 | Investing in Foreclosure Home | AA | $25,000 @ 12% | Aug 16, 2008 | Expired |
| 391790 | Investing in Foreclosure Home | AA | $12,000 @ 13% | Sep 02, 2008 | Loan created |
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