A new QS borrower purchased this single-family home in New Bedford, MA for $195,000. He completed a renovation of the property and sold it for $316,000.
QS Private Lending provided $187,000 of financing: A $156,000 acquisition loan and a $31,000 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 230% return on his equity investment.
Return on Investment:
Gross Selling Price$316,000
Return on Equity230%
Have you identified a property that you would like to acquire? Contact us today, and make a more competitive offer!