Bob was a client that came to us in very bad financial shape. Bob was behind on his personal house payment, had recently been laid off from his job and was on the brink of Bankruptcy. Bob contacted Principle Funding Group because he had a friend in real estate that found a property that would be a good candidate for a rehab and flip. Bob did not have any experience selling a property but he did have experience doing work on properties and was very handy. We funded a loan to Bob, he fixed up and resold the property for a $20,000 profit. With that money Bob was able to pay off creditors as well as bring his house payment current. Bob went out and found a new property and brought it to us again. We funded that property and Bob made a $15,000 profit. Bobs average income was around $40,000 in previous years. If he persists with his record of success in the REI industry, it looks like Bob will make over $100,000 this year!
