A repeat QS borrower purchased this single-family home in Lowell, MA for $110,000. He completed a renovation of the property and sold it for $250,000.
QS Private Lending provided $159,000 of financing: A $99,000 acquisition loan and a $60,000 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 430% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$110,000
Renovations$60,000
Closing Costs$5,680
Total Cost$175,680
Financing:
Acquisition Loan$99,000
Construction Loan$60,000
Equity$16,680
Total Financing$175,680
Return on Investment:
Gross Selling Price$250,000
Closing Costs($10,000)
Interest Expense($9,275)
Loan Repayment($159,000)
Net Profit$71,725
Return on Equity430%
Have you identified a property that you would like to acquire? Contact us today, and make a more competitive offer!
