A repeat QS borrower purchased this single-family home in Mansfield, MA for $282,000. She completed a renovation of the property and sold it for $389,900.
QS Private Lending provided $263,000 of financing: A $253,000 acquisition loan and a $10,000 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 257% return on her equity investment.
Investment Summary
Project Cost:
Purchase Price$282,000
Renovations$10,000
Closing Costs$7,760
Total Cost$299,760
Financing:
Acquisition Loan$253,000
Construction Loan$10,000
Equity$36,760
Total Financing$299,760
Return on Investment:
Gross Selling Price$389,900
Closing Costs($14,197)
Interest Expense($18,410)
Loan Repayment($263,000)
Net Profit$94,293
Return on Equity257%
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