A new QS borrower purchased this single-family home in Milford, MA for $150,000. He renovated the property and sold it for $292,900.
QS Private Lending provided $140,000 of financing: A $120,000 acquisition loan and a $20,000 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 369% return on his investment.
Investment Summary
Project Cost:
Purchase Price$150,000
Renovations$20,000
Closing Costs$5,300
Total Cost$175,300
Financing:
Acquisition Loan$120,000
Construction Loan$20,000
Equity$35,300
Total Financing$175,300
Return on Investment:
Gross Selling Price$292,900
Closing Costs($11,287)
Interest Expense($11,200)
Loan Repayment($140,000)
Net Profit$130,413
Return on Equity369%
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