An experienced builder and new QS borrower with excellent credit purchased this two-family home in Somerville, MA for $900,000. He renovated the property and sold it for $1.3 million.
QS Private Lending provided $920,000 of financing: a $720,000 acquisition loan and a $200,000 construction loan. The loan was for 12 months at 12% interest and was secured by a first mortgage on the property.
The borrower made a 114% return on his investment.