Start Up a Real Estate Investment Firm
| Listing Information |
| Amount: | $25,000.00 |
Status: | Loan created |
| Grade: | B |
DTI: | 36% |
| Lender Rate: | 16% |
Borrower: |
FSCapital
|
| Time Left: | Finished |
State: | MA |
| Funded: | 100% |
Group: |
Lend2's Group
|
| Loan Information |
| Loan Status:
| 4+ months late |
Origination Date:
| 2007-02-13 |
EricsCC ROI:
| -42% |
| Status History |
| Feb 15, 2007 |
Current |
| Sep 29, 2007 |
Late |
| Oct 03, 2007 |
Current |
| Nov 29, 2007 |
Late |
| Dec 05, 2007 |
Current |
| Jan 01, 2008 |
Late |
| Jan 14, 2008 |
1 month late |
| Jan 19, 2008 |
Current |
| Jan 30, 2008 |
Late |
| Feb 14, 2008 |
1 month late |
| Mar 17, 2008 |
2 months late |
| Apr 14, 2008 |
3 months late |
| May 24, 2008 |
4+ months late |
Hi,I am relisting this from the advice of many lenders not to Auto-fund and increase the rate. I have also joined a group.
Thank you for taking the time to view my loan. I am looking to fund a real estate venture that I am very passionate about. Currently I own 1 rental property (2 Family) and a primary home. I am looking to purchase an office condo for 70,000 which I would have to put 20 % down. The Prosper loan comes into play for this reason. The Condo is currently rented for 500 a month but has another room that is unused so I could rent that space as well, which would bring the total to 800/1000 a month. With the remainder of the money I am looking to invest into another investment property a 2 family (195,000) both units are being rented for 900 a month so it would bring in positive cash flow of about 150/200 a month after all taxes & insurance is paid off. Once both transactions are done I will be able to pull equity out of the condo & the rental after 6 months (seasoned) and pay back the loan in full. I wanted to try prosper because I am interested in this system and will become a lender in the future. Buying these properties will kick start my dream of owning my own real estate investment firm. Thank you for funding my dream & God bless!
Mike |
| Borrower's Other Listings |
| 86163 |
Start up Real Estate Investment firm! |
B |
$25,000 @ 15% |
Jan 18, 2007 |
Withdrawn |
| 87469 |
Start up Real Investment Firm! |
B |
$25,000 @ 19% |
Jan 22, 2007 |
Withdrawn |
|
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