Creative Funding

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Listing Information
Amount: $5,000.00 Status: Loan created
Grade: AA DTI: 11%
Lender Rate: 7% Borrower: Theseus
Time Left: Finished State: IL
Funded: 100% Group: Group Leaders
Loan Information
Loan Status: Current Origination Date: 2006-03-07 EricsCC ROI: 4%
Status History
Jul 12, 2006 Current
About me:

I graduated in the top three percent of my University of Illinois, Urbana-Champaign, class with a double major in accounting and finance.  Afterwards, I worked at a major hedge fund for one year until I decided to start my own business.  I attained a Real Estate Broker's license from the state of Illinois and opened a real estate property management company. 

Through this company, I buy rental property for myself and a group of investors.  The current portfolio of properties is worth $3.5 Million and we have a buy and hold strategy with a minimum 25% Return on Investment requirement.  


Purpose of loan:

The purpose of this loan request is to test whether this website can be another source of funding for future deals.  The proceeds would be used to pay off the first installment of 2005 property taxes on the property shown in the picture. 

Meanwhile, I will use the money I would have spent on taxes to fund an upcoming closing for the purchase of another multi-family property.  Thus, if I obtain the desired loan at the desired rate, I can minimize my weighted average cost of capital and obtain higher overall profits.  The loan's installments will be paid from the rental cash flows from the property above.  

I am a serious businessperson and believe honoring one's debts is vital to long term prosperity.  I would not have the credit rating I have today if I did not live by this philosophy. 

I thank you for your consideration of this loan request and look forward to a mutually beneficial relationship.
  
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