A repeat QS borrower purchased this single-family home in Ashland, MA for $290,000. He renovated the property and sold it for $395,600.
QS Private Lending provided $285,000 of financing: A $260,000 acquisition loan and a $25,000 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 226% return on his investment.
Investment Summary
Project Cost:
Purchase Price$290,000
Renovations$25,000
Closing Costs$8,200
Total Cost$323,200
Financing:
Acquisition Loan$260,000
Construction Loan$25,000
Equity$38,200
Total Financing$323,200
Return on Investment:
Gross Selling Price$395,600
Closing Costs($14,368)
Interest Expense($9,975)
Loan Repayment($285,000)
Net Profit$86,257
Return on Equity226%
Have you identified a property that you would like to acquire? Contact us today, and make a more competitive offer!
