$5k option on new home, $5k improvements
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 11% |
| Lender Rate: | 9% | Borrower: | jmorse |
| Finished | State: | TX | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-01-30 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Jan 30, 2007 | Current |
| Feb 19, 2007 | Payoff in progress |
| Feb 24, 2007 | Paid |
|
I recently moved from Denver to Austin for a new job opportunity. My old condo in Denver is currently for sale (owe: ~$178k, appraised: $225k). I am seeking a loan to put an option on a house. I intend to pay this loan off when my Denver condo sells. In Austin, I have been living with a coworker and our neighbor put his house up for sale ($139k, 3BR/2BA/1500 sq. ft. downtown, needs TLC). The neighbor will let me rent the place for $850/month with an option to buy in six months at $139k if I put down $5k. I plan to fix up this house with the extra $5k while I live in it for the next two years. The option to buy makes my improvements an investment and lets me get more for my money. The neighborhood is old but becoming expensive because of a newly completed toll-road and local urban redevelopment projects. Your money is safe with me. My credit is excellent and I have a good income/debt ratio. I have a top college degree with a 3.7 GPA and am an Eagle scout. A loan from you will provide the cashflow to get a new house, improve it, and build equity rather than sign a lease for a high-priced Austin apartment. I would rather use prosper.com than a bank because the economics of social networking fascinates me and I love to eliminate the middle man. Thanks! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 175590 | Bidding on Property at Tax Sale | A | $25,000 @ 8% | Jul 24, 2007 | Withdrawn |
| 177310 | Investing on Property at Tax Sale | A | $25,000 @ 15% | Jul 27, 2007 | Loan created |
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