A new QS borrower purchased this single-family home in Leominster, MA for $217,000. He completed a renovation of the property and sold it for $195,000.
QS Private Lending provided $267,000 of financing: A $156,000 acquisition loan and a $111,000 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 255% return on his equity investment.
Return on Investment:
Gross Selling Price$420,000
Return on Equity255%
Have you identified a property that you would like to acquire? Get pre-approved today, and make a more competitive offer!