An experienced builder and repeat QS borrower purchased this single-family home in Marion, MA for $158,000.
He renovated the property and sold it for $260,000.
QS Private Lending provided $170,000 of financing: A $140,000 acquisition loan and a $30,000 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 292% return on his investment.
Investment Summary
Project Cost:
Purchase Price$158,000
Renovations$30,000
Closing Costs$5,900
Total Cost$193,900
Financing:
Acquisition Loan$140,000
Construction Loan$30,000
Equity$23,900
Total Financing$193,900
Return on Investment:
Gross Selling Price$260,000
Closing Costs(10,300)
Interest Expense($9,900)
Loan Repayment($170,000)
Net Profit$69,800
Return on Equity292%
Have you identified a property that you would like to acquire? Contact us today, and make a more competitive offer!
