A repeat QS borrower purchased this single-family home in Attleboro, MA for $156,500. He completed a renovation of the property and sold it for $400,000.
QS Private Lending provided $244,000 of financing: A $124,000 acquisition loan and a $120,000 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 300% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$156,500
Renovations$120,000
Closing Costs$7,380
Total Cost$283,880
Financing:
Acquisition Loan$124,000
Construction Loan$120,000
Equity$39,880
Total Financing$283,880
Return on Investment:
Gross Selling Price$400,000
Closing Costs($14,500)
Interest Expense($21,960)
Loan Repayment($244,000)
Net Profit$119,540
Return on Equity300%
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