A new QS borrower purchased this single-family home in Yarmouth Port, MA for $230,000. She renovated the property and sold it for $384,500.
QS Private Lending provided $260,000 of financing: A $205,000 acquisition loan and a $55,000 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 273% return on her investment.
Investment Summary
Project Cost:
Purchase Price$230,000
Renovations$55,000
Closing Costs$7,700
Total Cost$292,700
Financing:
Acquisition Loan$205,000
Construction Loan$55,000
Equity$32,700
Total Financing$292,700
Return on Investment:
Gross Selling Price$384,500
Closing Costs($14,035)
Interest Expense($21,233)
Loan Repayment($260,000)
Net Profit$89,232
Return on Equity273%
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