A repeat QS borrower purchased this single-family home in Marlborough, MA for $206,000. He renovated the property and sold it for $335,000.
QS Private Lending provided $185,000 of financing: A $175,000 acquisition loan and a $10,000 construction loan. The loan was for 12 months at 13% interest. It was secured by a first mortgage on the property.
The borrower made a 337% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$206,000
Renovations$10,000
Closing Costs$6,200
Total Cost$222,200
Financing:
Acquisition Loan$175,000
Construction Loan$10,000
Equity$37,200
Total Financing$222,200
Return on Investment:
Gross Selling Price$335,000
Closing Costs($12,550)
Interest Expense($12,025)
Loan Repayment($185,000)
Net Profit$125,425
Return on Equity337%
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