An experienced builder and repeat QS borrower purchased this single-family home in Holbrook, MA for $215,000. He renovated the property and sold it for $559,900.
QS Private Lending provided $375,000 of financing: A $190,000 acquisition loan and a $185,000 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 348% return on his investment.
Investment Summary
Project Cost:
Purchase Price$215,000
Renovations$185,000
Closing Costs$10,000
Total Cost$410,000
Financing:
Acquisition Loan$190,000
Construction Loan$185,000
Equity$35,000
Total Financing$410,000
Return on Investment:
Gross Selling Price$559,900
Closing Costs($19,297)
Interest Expense($43,750)
Loan Repayment($375,000)
Net Profit$121,853
Return on Equity348%
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