Single-Family Home in Barrington, NH
A repeat FMC borrower purchased this single-family home in Barrington, NH for $115,000. He completed a renovation of the property and sold it for $250,000.
FMC Financial Group provided $142,000 of financing: A $92,000 acquisition loan and a $50,000 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 311% return on his equity investment.
Have you identified a property that you would like to acquire? Contact us today, and make a more competitive offer!
| Project Cost: | |
|---|---|
| Purchase Price | $115,000 |
| Renovations | $50,000 |
| Closing Costs |
$5,340 |
| Total Cost | $170,340 |
| Financing: | |
| Acquisition Loan | $92,000 |
| Construction Loan | $50,000 |
| Equity | $28,340 |
| Total Financing | $170,340 |
| Return on Investment: | |
| Gross Selling Price | $250,000 |
| Closing Costs | ($10,000) |
| Interest Expense | ($9,940) |
| Loan Repayment | ($142,000) |
| Net Profit | $88,060 |
| Return on Equity | 311% |