A new QS borrower purchased this two-family home in Revere, MA for $650,000. He completed a renovation of the property and sold it for $862,000.
QS Private Lending provided $582,000 of financing: A $552,000 acquisition loan and a $30,000 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 191% return on his equity investment.
Return on Investment:
Gross Selling Price$862,000
Return on Equity191%
Have you identified a property that you would like to acquire? Get pre-approved today, and make a more competitive offer!