An experienced builder and repeat QS borrower purchased this condo in Methuen, MA for $108,000. He renovated the property and sold it for $166,900.
QS Private Lending provided $105,000 of financing: A $95,000 acquisition loan and a $10,000 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 267% return on his investment.
Investment Summary
Project Cost:
Purchase Price$108,000
Renovations$10,000
Closing Costs$4,600
Total Cost$122,600
Financing:
Acquisition Loan$95,000
Construction Loan$10,000
Equity$17,600
Total Financing$122,600
Return on Investment:
Gross Selling Price$166,900
Closing Costs($7,507)
Interest Expense($7,350)
Loan Repayment($105,000)
Net Profit$47,043
Return on Equity267%
Have you identified a property that you would like to acquire? Contact us today, and make a more competitive offer!
