An experienced builder and new QS borrower purchased this condo unit in Everett, MA for $100,000.
He renovated the property and sold it for $236,000.
QS Private Lending provided $130,000 of financing: An $80,000 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 338% return on his investment.
Investment Summary
Project Cost:
Purchase Price$100,000
Renovations$50,000
Closing Costs$5,100
Total Cost$155,100
Financing:
Acquisition Loan$80,000
Construction Loan$50,000
Equity$25,100
Total Financing$155,100
Return on Investment:
Gross Selling Price$236,000
Closing Costs(9,580)
Interest Expense($11,700)
Loan Repayment(130,000)
Net Profit$84,720
Return on Equity338%
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