An experienced builder and repeat QS borrower purchased this single-family home in Framingham, MA for $260,000. He renovated the property and sold it for $480,000.
QS Private Lending provided $285,000 of financing: A $205,000 acquisition loan and an $80,000 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 174% return on his investment.
Investment Summary
Project Cost:
Purchase Price$260,000
Renovations$80,000
Closing Costs$8,200
Total Cost$348,200
Financing:
Acquisition Loan$205,000
Construction Loan$80,000
Equity$63,200
Total Financing$348,200
Return on Investment:
Gross Selling Price$480,000
Closing Costs($16,900)
Interest Expense($68,400)
Loan Repayment($285,000)
Net Profit$109,700
Return on Equity174%
Have you identified a property that you would like to acquire? Contact us today, and make a more competitive offer!
