Getting a $100k house for 10k
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 35% |
| Lender Rate: | 23% | Borrower: | sweene36 |
| Finished | State: | MI | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-09-30 | EricsCC ROI: | 22% |
| Status History | |
|---|---|
| Sep 30, 2008 | Current |
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Purpose of loan: purchasing or obtaining financing on a home that will be purchased and rehabbed for less than 30% market value. The monthly payments to the prosper loan will be paid out of my pocket untill the property is occupied by tenants or sold or refinanced. My financial situation: I can gross $5000/month in my family's business if i need to. I am currently refinancing on another investment property, and will be receiving $18000 cash in 3 to 5 weeks that i will likely use to repay this loan. I will be refinancing and pulling cash out on this property (the one i will be buying using your contributions) in 3 to f5 months -i can also use that to repay this loan. I also have half of my credit card limit i can fall back on under emergency purposes. Monthly net income: $ $3000 Monthly expenses: $ Housing: $ 190 Insurance: $ 0 Car expenses: $ 210 Utilities: $ 20 Phone, cable, internet: $ 150 Food, entertainment: $ 200 Clothing, household expenses $ 150 Credit cards and other loans: $ 110 Other expenses: $ |
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