An experienced builder and repeat QS borrower purchased this single-family home in Saugus, MA for $285,000. He renovated the property and sold it for $435,000.
QS Private Lending provided $300,000 of financing: A $240,000 acquisition loan and a $60,000 construction loan. The loan was for 12 months at 13% interest. It was secured by a first mortgage on the property.
The borrower made a 187% return on his investment.
Investment Summary
Project Cost:
Purchase Price$285,000
Renovations$60,000
Closing Costs$8,500
Total Cost$353,500
Financing:
Acquisition Loan$240,000
Construction Loan$60,000
Equity$53,500
Total Financing$353,500
Return on Investment:
Gross Selling Price$435,000
Closing Costs($15,550)
Interest Expense($19,500)
Loan Repayment($300,000)
Net Profit$99,950
Return on Equity187%
Have you identified a property that you would like to acquire? Contact us today, and make a more competitive offer!
