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A recent study by the Kauffman Foundation reveals that 27 percent of survey respondents plan to start their own business in the next five years. Even more revealing, a staggering 70 percent agreed that the success and health of the U.S. economy depends on the success of entrepreneurs and that is where Prosper Inc comes into play, because we can help.

The lure of having one’s own business is undeniable. While entrepreneurs make great initial sacrifices of time and typically take on added financial risk, the payoffs can be extraordinary. If you provide the right product and attract enough customers, independent wealth could be yours. There’s also the element of being your own boss and being in control of your destiny…not to mention your own schedule. Simply put, as an entrepreneur, you may find it easier to attend Billy’s ballgame or Jessi’s piano recital.

Simply starting a business is not enough. The Small Business Administration reports that “roughly half of small businesses fail within the first five years.” Those aren’t particularly encouraging odds. It would be wise to tilt the scales a little more in your favor.

That’s where personal mentoring in entrepreneurship from Prosper Inc. comes in. With a personal mentor guiding your first steps, you can avoid the pitfalls that new businesses typically face. Your personal mentor knows how to develop and sell products and services based on real-world experience. They can help you develop your business idea and get you on the path to becoming a recognized authority in your field of business.

Entrepreneurship mentoring can assist you in understanding market and business dynamics to leverage your skill sets and resources toward entrepreneurial success. Our entrepreneurship division is anchored with decades of combined experience in starting and managing businesses spanning a huge variety of entrepreneurial pursuits. Our business mentoring core is dedicated to providing practical curriculum delivery in entrepreneurship through a multi-focus program. Our aggressive team combines advanced degree professionals tempered by the refining fire of real world experience.

All mentors have started and currently maintain outside business ventures. These professionals have a huge spectrum of expertise including eCommerce, lead generation, business optimization, direct mail, financial management, life coaching, product development, and publishing.

Students who enroll in Prosper’s entrepreneurship programs work with a mentor once a week for an extended period. Additional resources include:

Access to our entrepreneurship resource line and technical support department.
A complete entrepreneurship curriculum.
Articles, online webinar classes, graduate coaching sessions, blogs, and newsletters.
Additional material and tool recommendations for your program.

We have also partnered with Ken Blanchard to provide customized, one-on-one coaching based on his One Minute Entrepreneur program.

Topics of study may include: Market and competitive analysis, business, risk management, joint ventures, customer profiling, business positioning and branding, eCommerce solutions, SEO, direct mail, unique selling proposition, customer education, price inducements, and testing, measuring, and evaluation.

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November 25, 2008

$70K PROFIT FROM TWO DEALS

$70K PROFIT FROM TWO DEALS with what we learned from Prosper Inc

So, these are the houses that we have bid on: The first house we got is close to a popular University. Listing price is $212,900 we put in the bid for $215,000. In the contract we put in the seller pays $6,450 for the buyers closing costs and to pay for the one year AHS warranty. We put down $500 for earnest money. The appraisal comes in today that was done on Monday. The CMAs on that is $275,000 and $289,000 and it was just appraised at $237,000. We think we will be able to sell it for just under $300,000. As I mentioned before this house closes the first week of January.

The second house we bid for is in an upper middle class neighborhood. The listing price was $399,000 we put the bid in for $410,000. In the contract we put down the seller pays $12,300 towards buyers closing costs. Seller to provide one year AHS Home Warranty to buyers. Again, we put down $500 for earnest money. The comps in the area range from $525,000 to $600,000. The unfortunate part for us is that we lost the bid to a soldier that just came back from Iraq. He wrote the owners a "sympathy letter" which was fortunate for him that the owners picked him over us (the heartless investors just trying to make a buck).

As that door closed another opened up. Our third bid in another upper middle class neighborhood. This neighborhood it is hard to get comps for because NO ONE leaves. However, a smaller house in the same neighborhood with a smaller lot without the extra amenities is on the market for $475,000. It is behind the best school in Virginia beach, everyone who lives there is retired military and once in no one sells. So, we found this house on 1/2 an acre, with an in ground pool, koi pond, 4 season room with a Jacuzzi, lots of open space. The selling price is $390,000, our bid is for $438,000. In the contract we put down the seller pays $13,000 towards buyers closing costs and to provide a one year AHS with an addendum and contingencies.

The last thing I wanted to mention is networking how it really works. Lisa and I went to this place called Home-A-Rama which is a new development that is open to the public for a fee. There are about 20 different houses that you can look thru. Most people go thru the homes to get ideas on decorating and some actually buy the house. This year the homes ranged from $250,000 to $600,000. Vendors who worked on the homes have a kiosk or a spot for people who wish to purchase their product or ask questions. For us it was to look at the homes and network with loan officers and get information on hard money lending.

A few weeks later we get a call from the same company but a different guy. Jason is not only a loan broker but an investor as well. I briefly talk to him and tell him that I need to speak to my partners. Well, I am excited at this point. We finally found someone who will take us by the hand and tell us what we are doing wrong and will help us. I talk to Lisa (Ayanna was away on business) and we make an appointment with him. Ayanna's first day back and I go and see him and have Lisa on conference call. So, he physically shows us his most recent transactions and tells us how he does it. Both Ayanna and my eyes lit up--to see $30,000 on one deal and $40,000 on another.

So, we have a few more meetings with him. It is a win-win situation for all of us. He gets our business and we get the help that we need. So, one of us was able to get not only one loan but two thru his creative financing while the other 2 are working to get our credit scores up for another loan or 2, 3, or 4. Jason has also introduced us to his realtor Holly who has been phenomenal in finding these great deals for us. As a business we have $653,000 of contracts on the line. This has only been in the last month or month in a half since we met Jason and Holly and it has only been 3 weeks since we have started putting these offers in.

Jeanine, Lisa, & Ayanna B.

Norfolk, VA

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November 24, 2008

TREMENDOUS CASH FLOW POTENTIAL thanks to Prosper Inc

TREMENDOUS CASH FLOW POTENTIAL - Prosper Inc Success and Prosper Inc Success Coaching

We found a triplex in Port Colborne, askingprice $49.8K. It was described as in need of finishing of the upper 3 bedroom appartment. At the showing we saw that the whole upstairs was almost empty with bare, see-through walls. We asked a contractor to look at it and he estimated we needed $60K to fix it up and make the place a fourplex.

We offered $35K on June 15. After some offers back, we got $41K accepted on June 21. We got a 1st mortgage for $30K approximately from the National Bank and a second from a private lender. In total, we got 100% financing.

In the time we closed, one of the tenants moved out and we still have to find somebody else. We have payments of $253.44 per month for the first mortgage and $175 for the second. Rents are $500 including bills and $560 including bills (this is the vacant one). So the cashflow at the moment is not too high but there is potential for the future.

Then we found 2 small houses. The power of sale. Both vacant. One 3 bedroom and a 2 bedroom. The 3 bedroom is nice and ready for occupancy, the 2 bedroom is small and needs some work or we can rent it out cheap to somebody who doesn't care too much about that.

The askingprice was 70,000. We started offering 35,000 and after some negotiating back and forth we got them for 45,000. We financed these privately through Barry Mills again for 100 %. We can rent them out for $580 and $380 probably. (We still have to find renters but I think we have two interested).

In between we've got a few other offers on a triplex in Fort Erie and a house in Kinnearstreet accepted but we rejected them later after further inspection.

We are waiting for a third mortgage on 300 King street , Welland, and then this one will close too. This is a 21 plex (small appartments, it is a former hotel) with a bar and a restaurant on the mainfloor (was a nightclub). We offered $230,000 ,this was the askingprice. Barry Mills had the whole financing almost in place for us before we even knew about this. We have to fill a few more rooms and the two downstairs bar and restaurant but then there will be a very good cashflow here.

Barry is also working on a commercial building what will be renovated into a 21plex , for us. The address is downtown St. Catherines and there is another building we are interested in in St. Catherines what will be a 8-plex.

In the mean time our Niagara-on-the-Lake property is getting really nice with new roof, windows, bathroom, kitchen etc.

André & Angelieke V.

Vineland, ON, Canada

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November 24, 2008

WE PURCHASED $500K OF PROPERTY WITH NONE OF OUR OWN MONEY

Since joining prosper inc in May 2007, we have bought over half a million dollars worth of real estate with absolutely none of our own money. My husband quit his job in Dec 2007 to do real estate full time. We are expecting our third baby in April 2008 and this year looks even more promising than ever!

We have partnered up with Roly's dad to do rehabs...we find the deals, and design, buy, and organize, and then he puts up all the money for the mortgage and rehab costs. Plus, Roly and his dad will work full time on the houses (they are both REALLY handy!) so we plan on doing at least one every two months for this year.

Now that our investors know we are able to do what we intend with our deals and make them $$$, it will be sooooo much easier to get money to fund our next deals. We plan on doing quite a few hard money loans this year, and hopefully move into one of our rehab homes or a home that we have foreclosed on (though I don't wish that on anyone!).

Real Estate is perfect for us, as Roly gets bored of anything really easily (as do I)...this is a lifestyle that is always expanding our knowledge and comfort zone! We really enjoy Real Estate!

Nathalie & Roly R.

Winipeg, MB, Canada

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November 21, 2008

MY PROSPER INC COACH HAS INSPIRED ME AND KEPT ME FOCUSED

MY Prosper Inc COACH HAS INSPIRED ME AND KEPT ME FOCUSED - Prosper Inc Success Coaching

I was unemployed for almost a year. I had been researching on-line business opportunities when I came across the Real Estate website. I signed up and kept searching. It was several months later when I was contacted by Prosper Inc. My husband and I were invited to participate in the Real Estate Investing Program and OH MY GOSH!!!! I just bought two properties yesterday! I only intended to view several properties and find one to make an offer on. After spending the better part of a day with a Real Estate Agent in a small resort town I had not yet worked, I found a great deal and made an offer of $70,000 on single family residence that had been listed for $124,900. The offer was accepted and we closed the deal with a short sale. I will be renting this home out while rehabbing it for approximately $40,000 and intend to put it back on the market in 6-12 months, asking around $195,000. That same afternoon an opportunity was presented to me to purchase another single family residence on a short sale. I offered $40,000 for a home that was listed for $84,900. The offer was accepted and I will be leasing this home with an option to purchase. My husband and I are so pleased we can now help out two families. Just two weeks ago I purchased a single family home for $15,000 and will wholesale this property anticipating a profit of approximately $5,000 to $10,000. I just wanted to say that I am extremely happy right now with all of this activity. The reassurance and mentoring from my coach has inspired me and kept me focused to break through and accomplish these sales. I am energized and can't wait to find more deals!!! Thank YOU Prosper!!!

Dawn F.

Valparaiso, IN

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November 21, 2008

$85K IN MY FIRST 30 DAYS | Prosper Inc Success and Prosper Inc Success Coaching

$85K IN MY FIRST 30 DAYS

My wife and I having been living month to month, pay check to pay check , ever since we were married. We cleaned up most of our debt along the way and still found ourselves low on cash.

One morning, before I went off to teach my early morning bible class, I saw the real estate advertisement on TV. I called and ordered the book and read its contents in 2 days. Then Prosper Inc called me about coaching programs. I didn't have the tuition to get started, but I was determined that this was my future.

I went and got a personal loan, after being turned down several times by banks and other credit unions because of my bad credit. I called in and paid for the tuition and started my program. This was nearly 4-5 weeks ago. Since then, my coach and the staff on the resource real estate coaching line have helped me succeed in my first purchases. By the end of this month, I will have 4 homes that I have purchased. I already have renters lined up for 1 home, in which I will walk away from closing with nearly $40,000 cash in my pocket. The other two combined will total up to $45,000; making a total of $85,000 in my first 30 days of doing real estate. I learned how to get qualified for the right loans, make the correct offers for the correct price and find foreclosures within a few miles of my own home. I couldn't have done this without the help of the real estate team at Prosper. I look forward to the New Year and what it will bring financial freedom to our home. With my new company Financial Liberty, LLC, I hope to have near 30 properties in 6 months. Real estate investing takes time, discipline, and being teachable. I am thankful to have had this opportunity to be apart of the teachings from everyone at Prosper.

Jacob T.

Puyallup, WA

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November 20, 2008

STUDENT CREATES A WIN-WIN SITUATION | Prosper Inc

STUDENT CREATES A WIN-WIN SITUATION - Prosper Inc Success and Prosper Inc Success Coaching

One of our real estate contacts made us aware of a property which was coming out on the multi-list for the next day. We made an offer on the property with contingencies on inspection and loan approval to lock it down that night. We did get it locked down and gained control of the property for the offer of $115,000 which was the price of the house. The house was mostly remodeled and in need of repairs. After the inspection by our construction leader, we put the pencil to the deal using the short form. We used the short form to determine the offer amount based on our training on the short form. We looked at the fair market values of the houses in the area to determine the sales price of the property and priced the house for a quick sale at $145,000. After holding costs and estimated repair costs of $24,000 and profit of $20,000 we came up with an offer of $93,000. We found out the lender would take a short sell before we made the offer, so we decided to offer $90,000. We were countered at $92,000 and accepted the counter. Our next step was to find the financial resources using OPM. I found someone to front the money for the project for 50% of the net on the deal which is $10,000 for them and us. We have a closing date on 6/29. We will be assigning the contract to the financer so we have $0 dollars in the property. We are protecting our interest in the deal with a side agreement on the split of the proceeds. We have our construction crew ready to start the next day and will be out of the house in 2 weeks after construction is started. The team is working on having a buyer for the house before completion of the rehab. This is a win for the financer, for us, for the real estate team, financial broker, and the customer who will buy the house $10,000 below fair market value.

Clyde & Cynthia B.

Rodgers, AR

Prosper Inc Success and Prosper Inc Success Coaching

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November 20, 2008

How to make $250k in less then one year | Prosper Inc

WE MADE CLOSE TO $250K IN LESS THAN ONE YEAR thanks to Prosper Inc and the Prosper Inc Success coaching!

Tracey and I are off to a great start! Tracey wanted this cute little house across from the new town park. It was on the market for over 3 months and was listed at $160,000. Most of that time it was under contract and the people were trying to do a 1031 exchange. Tracey was very determined to get this property and kept watching for any changes or signs of the contract falling through. She had a hunch to call our Realtor to see what was going on with the sale. Her timing was impeccable! They had just released it back on the market and we scheduled to go see the inside of the house. Tracey made an offer of $50,000 and the gentlemen accepted. We remodeled the property and it appraised for $165,000. We got a fixed mortgage that paid off the initial $50,000 for the remodel and then cashed out $40,000. We still have $60,000 in equity. We are going to rent it out and make a positive cash flow of $150 per month.

When we closed on the above property, Tracey decided that she would eventually want to buy the entire block. The two houses to the north were in pretty bad shape, one of which was vacant. I called the city and they gave me the number of the owner. He was living out of state. Looking at the comps, we knew the two houses would go for about $110K each when fixed up. I called the owner and asked him if he would be interested in selling the two homes and he said yes. I used Millen’s coaching and didn’t offer a price, but instead asked what he would be looking at to sell them. He said he wanted $80K per house. I then countered and said that we would like to pay $80K for both of them. He said he would think about it. I explained that it would take a lot of money and time and since he was out of town it might be more difficult to get them in "sellable" shape. He came back and said that he didn’t want to haggle over price and said he would take $82K for both houses! We of course agreed and went to our lender and we decided to buy one of the houses for the entire $82K and the owner quit claimed the other to us free and clear. This saved us closing costs, because we closed on only one. When the appraisal came back it appraised at $90K. We put about $20K total into both of them and have $220K in property for only $102K.

Tracey and I just bought the fourth house on the block and now have 4 properties in less than 1 year and have made close to $250K! The best part of all is that we haven’t used any money out of our own pocket. We have friends that were asking how we did it. They said that they thought we must have had $500K set aside in savings. The techniques that we learned through Prosper Inc have made it possible to make more money in months than most people do in an entire year.

Brett & Tra

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November 19, 2008

WE PLAN ON FLIPPING ONE PROPERTY PER MONTH

WE PLAN ON FLIPPING ONE PROPERTY PER MONTH Prosper Inc | Prosper Inc Success Stories

We have purchased our first property to flip and it feels great. My wife Vicki and I have been very interested in Real Estate investing for quite some time now. We have read books listened to seminars and looked at properties but had never taken it any farther because we were worried about the risk. After attending the wealth expo in Toronto we decided to sign up for a personal coach… Our coach has given us the confidence to go out and really begin real estate investing. Cameron has really simplified things for us and given us the added knowledge that we needed, as well as reinforced the important things that we already understood. With Cameron’s guidance we were able to learn how to easily find and target strong areas in our market for resale and rentals, evaluate properties, build a strong power team around us, understand the offer process, and understand the purchase agreements and safety nets that we can use, as well as many options that we can use to make our property profitable even if something happens (such as if the market drops and we didn’t foresee it).

We are in a very aggressive market where property is selling well above the asking prices and the average days on the market are under 18. With coaching we have found our first property which we have purchased for $92,000. We will be adding a detached garage, finishing the basement, cleaning the upstairs and the floors and re-doing the kitchen for a cost of $25,000. We are confident that we will be able to sell the property for $150,000 plus, for an expected profit of $20,000. We will be doing very minimal work ourselves as we are now seeing deals pop up all over and we want to spend our time finding creative ways to get some more deals under contract. With our new knowledge and the support from the resource line we plan on flipping 1 property per month over the next year as well as adding 6 rental properties to our portfolio. We are expecting our first child at the end of August and we are very excited at where are lives are heading. Thank you very much Prosper Inc from both of us for all your help, motivation and guidance.

Darren & Vicki P.

Beausejour, MB, Canada

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November 19, 2008

REAL ESTATE SUCCESS IN IRELAND | Prosper Inc

REAL ESTATE SUCCESS IN IRELAND

Since starting the coaching at Prosper Inc, I have managed to get 6 investment properties up and running. They are all in positive cash flow and have all increased in value. The coaching is invaluable--calling me each week created a strong, positive pressure to take action. This complemented the books and CDs I was studying, which were part of the program. The coaching created a good synergy and a dynamic which I could not achieve on my own.

This has also encouraged me to go on to bigger and better deals. Now with this coaching I'm looking at purchasing property in the states maybe Florida...who knows but with the coaching I have the confidence to go for it.

Now to the numbers. The 6 properties are generating e7000 per month in gross rents after my repayments to the lenders, etc., the positive cash flow from the properties is at e3,500.

Ken M.

Dublin, Ireland

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November 18, 2008

REAL ESTATE STUDENT NEGOTIATES A GREAT DEAL | Prosper Inc

REAL ESTATE STUDENT NEGOTIATES A GREAT DEAL | Prosper Inc success stories

As you know I had an offer accepted for a duplex in Lake County, California. The original asking price was $429.5K. The seller dropped it to $350K and dropped it again to $299K. I offered a low $250K because I knew it had been on the Market for 6 months and the owner wishes to move out of state and wants to liquidate this property. She came back and suggested $290,000. I offered $275,000 and she has accepted. My Realtor gave me a great compliment in saying "I thought you were crazy to offer such a low price on three units, but by the time you offered $275,000, the seller was ready to jump. "I can't believe that you did that Sue".

I contacted a mortgage broker that I have used in the past and faxed her all of my information for the loan. We are waiting for the pest inspection. Funny thing about this property—one builder built 3 identical duplexes and one of them is also on the market listed at $429K. I contacted a Realtor last week and asked her if she had any good deals in duplexes in the lake area. She told me she had a "super" deal on a duplex for a "low" $429K. It is the identical one to the one I'm getting for $275K.

I have located a vacation rental agency that primarily rents out large homes on the lake. I explained to the office manager where my house was and that there is a large boat launch facility 2 blocks for the property and 5 minutes from the local hospital. She told me that on occasion the Visiting Nurses Program sets up people in housing while they are working at one of the two local hospitals in the area and that my house may be considered for the program. She will be coming to view my house in the next few weeks. If my house qualifies for the program, the Visiting Nurses pay approximately $2000 or more per month to rent it out. Currently my mortgage is $1024 per month.

Susan B.

Oakland, CA

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