A repeat QS borrower purchased this single-family home in Wareham, MA for $200,000. He renovated the property and sold it for $303,000.
QS Private Lending provided $230,000 of financing: A $180,000 acquisition loan and a $50,000 construction loan. The loan was for 12 months at 14% interest. It was secured by a first mortgage on the property.
The borrower made a 137% return on his investment.
Investment Summary
Project Cost:
Purchase Price$200,000
Renovations$50,000
Closing Costs$7,100
Total Cost$257,100
Financing:
Acquisition Loan$180,000
Construction Loan$50,000
Equity$27,100
Total Financing$257,100
Return on Investment:
Gross Selling Price$303,000
Closing Costs($11,590)
Interest Expense($24,150)
Loan Repayment($230,000)
Net Profit$37,260
Return on Equity137%
Have you identified a property that you would like to acquire? Contact us today, and make a more competitive offer!
