Lending Club funding source

[Thomas St John]

Hey everyone, I just wanted to leave a quick post regarding Lending Club as a means to fund a deal. If you haven't listened to the BP podcast with Dawn Anastasi's, I highly recommend it. I recommend reading her posts as well, they have been valuable to me. I borrowed $18,000 to buy a rental property in Toledo, OH and am renting it for $700 per month. My market is similar to Dawn's in Milwaukee where these types of opportunities are plentiful. These are not war zone areas, rather lower middle class areas that still rent extremely well. Its a 5 yr loan and the house will be paid off. It is not a home run as far as my cash flow for these 5 years, in fact, I know a lot of people will think this is a bad move. But quick and easy money from Lending Club and a free and clear house in no time is a success for me. Thoughts and questions from anyone are welcome