Buying a small Apartment Building
| Listing Information |
| Amount: | $25,000.00 |
Status: | Loan created |
| Grade: | C |
DTI: | 28% |
| Lender Rate: | 16% |
Borrower: |
TaxLiensInvestor
|
| Time Left: | Finished |
State: | CA |
| Funded: | 100% |
Group: |
GROUP CLOSED
|
| Loan Information |
| Loan Status:
| Paid |
Origination Date:
| 2007-01-22 |
EricsCC ROI:
| 16% |
| Status History |
| Jan 21, 2007 |
Current |
| Feb 22, 2007 |
Payoff in progress |
| Feb 28, 2007 |
Paid |
Hi,
I am a Real Estate investor. I also invest in Bankruptcy Assets and Tax Lien Certificates. I live in California, and will soon be attending an auction for a small apartment building in the midwest. The auction terms don't leave me enough time to get financing. I have to close the deal a few days after bidding. I have gathered most of the money I need for the auction, but, based on what I believe the complex will sell for, I am short about $20,000 to $25,000.
The apartment building is currently occupied by tenants. I will use rent from the tenants to pay, among other expenses, the Prosper loan (my monthly payment will be less than $900, no big deal compared to rents I will be collecting). This is a very lucrative and safe loan for you to make. I had excellent credit a few months ago, but I applied for several credit cards recently to pursue some potential real estate deals. The excessive number of applications within a month or two shot my credit down from excellent to C level.
Besides my investments, I also have a full time job (32 hours/week) as an engineer for a major semiconductors corporation. Between my job and investments, I make a very good six figure income already. And that's without even counting the rents I will be collecting after I buy the apartment complex.
Make this loan. You will get a great return. With no risk. Thanks to how credit bureaus interpret what they view as too many credit card applications. Of course, after I close the deal, I will get a long term mortgage secured by the building and payoff the credit cards before the 0% etc. introductory offers expire.
|
| Borrower's Other Listings |
| 72847 |
Buying Real Estate from 2 Bankruptcy Auctions |
C |
$25,000 @ 20% |
Dec 10, 2006 |
Withdrawn |
|
Discussion For This Listing
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Wed, February 28, 2007
|
| This guy promised that he would be a great investment for lenders. I made $.52. Oh well, atleast he did not default. |
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