Growth Capital - Successful Business(Low Risk/High Return)
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 28% |
| Lender Rate: | 25% | Borrower: | cottrellrealty |
| Finished | State: | MO | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-01-25 | EricsCC ROI: | 19% |
| Status History | |
|---|---|
| Jan 24, 2007 | Current |
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Fast Growing Successful Real Estate Executive Seeks Growth Capital Unfortunately, when I divorced a approximately 18 month ago I made the mistake of closing my oldest trade line credit accounts and my once pristine credit score plummeted thus restricting me from more traditional credit sources for my growing business. I pay all of my bills on time. The 1 delinquency showing is for an old collection account from a cell phone account that I co-signed for my son that went into collections while he was serving in Iraq. Cottrell Realty Group is the fastest growing team in the St. Louis marketplace. I have been in St. Louis for more than 30 years. Previously, I was the CEO/Team Leader for Keller Williams Realty in St. Louis (an office with over 160 agents which ranked in the top 10 in the market) and was previously associated with a highly successful real estate team with Keller Williams in Austin, TX which closed in excess of 500 transactions last year and more than $100 Million in Sales volume. We?ve been listing approximately 7-10 homes per month. Homes are generally selling in the St. Louis marketplace in approximately 60-90 days although the late fall and over the holidays are the seasonally slowest times of year for most markets, including St. Louis. Current Income: Current Gross Potential Income from All Current Listings = $140,212 Gross Potential Income from Listings Expected to Sell @ 60% =$84,126 Gross Expected Income added from New Listings Monthly (7 x $6,373 x 60%) = $26,767 Current Pending Income as of 1/15/07 - $7,899 Monthly Expenses: Rent $450 Copies/Printing:$500 Staff/Support $3,100 Marketing/Advertising $1,250 Brokerage Fees @ 30% of Gross Commission Income We also have plenty of cash flow to pay the Prosper loan payments and would intend to pay it off well before the 36 month mark. Use of Prosper Loan Funds: We are looking to invest in the following to allow us to take in a larger amount of listings: Each Listing requires the following: Sign/Riders @ $75.00 Lock Box @ $130.00 Initial Listing Advertising/Marketing Materials / Photography/Virtual Tour $250 Total Cost $705.00 $25,000 - $7,000 operating reserve = $18,000 allows us to immediately take in and support 25 additional listings coming into the upcoming spring selling season. The operating reserve will allow for up to 90 days for listings to be marketed and sold. WE ARE OFFERING A SUBSTANTIAL PREMIUM AS TIMING IN ACQUIRIING THESE LISTINGS IS CRITICAL. We are fortunate to market many desirable homes, in a variety of areas and price ranges. This large inventory of homes for sale (currently the team has in excess of $6MM in residential listings ? approximately 22 active listings. This represents a volume that is equal to 30% of the #1 team in St. Louis). Once we add the additional listing volume of 25 listings, we will be within 90-100% of the #1 team in the market based on listing volume. Our listings and team are promoted on our team's website www.cottrellrealty.com as well as on over 300 additional Internet sites. Additionally, our listings are on every major real estate website and are prominently featured on the number one home selling site in the world, www.realtor.com NOTE: We also have a comprehensive 30+ page business plan, budget and profit and loss |
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