A repeat QS borrower purchased this single-family home in Weymouth, MA for $225,000. He completed an extensive renovation of the property and sold it for $735,000.
QS Private Lending provided $477,000 of financing: A $202,000 acquisition loan and a $275,000 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 428% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$225,000
Renovations$275,000
Closing Costs$12,040
Total Cost$512,040
Financing:
Acquisition Loan$202,000
Construction Loan$275,000
Equity$35,040
Total Financing$512,040
Return on Investment:
Gross Selling Price$735,000
Closing Costs($24,550)
Interest Expense($83,475)
Loan Repayment($477,000)
Net Profit$149,975
Return on Equity428%
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