An awesome resource for some real estate investors
Just a quick note. I’m sure many of you have heard of the website www.prosper.com and what they do. If not, here is a brief overview.
Prosper.com is a portal for people to lend and borrow money for anything from new tires to startup capital for their upstart business venture. If you need funds for something (i.e. a small rehab of a property), all you have to do is simply set up an account and type up a request.
Of course, you will have to provide information so a credit rating can be obtained, but the process is rather easy. You can request a loan as large as you want (there are many in the $25k + range) and name the interest rate you are willing to pay.
From there people who want to lend search the database and find loans that match their investing criteria… and dole out the cash via transfer through prosper.com.
I personally think that prosper.com has an excellent and revolutionary business model going here. They are helping people who want to borrow money get good financing without ever stepping foot in a bank. Also, the terms are fair and the system rewards borrowers who successfully repay their loans by giving them a better rating.
If you haven’t caught on yet, prosper.com is yet another potential resource for getting financing for your real estate investing deals. Of course, sometimes it may take a week or two to get your project fully funded… but if a time constraint isn’t a big issue, prosper.com is an excellent resource to find funds.
I give www.prosper.com two big thumbs up! Check it out and see if it is useful for you.
Hey, my name is Trevor and I'm the founder of The REI Brain and a real estate investor since the age of 21. Right now, my focus in real estate investing is multi-family income properties and I have plans on moving more into the commercial real estate investment world in 2008 and beyond. 
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