An experienced builder and repeat QS borrower purchased this single-family home in Sandwich, MA for $330,000. He renovated the property and sold it for $460,000.
QS Private Lending provided $290,000 of financing: A $260,000 acquisition loan and a $30,000 construction loan. The loan was for 12 months at 12% interest. It was secured by a first mortgage on the property.
The borrower made a 159% return on his investment.
Investment Summary
Project Cost:
Purchase Price$330,000
Renovations$30,000
Closing Costs$8,300
Total Cost$368,300
Financing:
Acquisition Loan$260,000
Construction Loan$30,000
Equity$78,300
Total Financing$368,300
Return on Investment:
Gross Selling Price$460,000
Closing Costs($16,300)
Interest Expense($29,000)
Loan Repayment($290,000)
Net Profit$124,700
Return on Equity159%
Have you identified a property that you would like to acquire? Contact us today, and make a more competitive offer!
