A repeat QS borrower purchased this single-family home in Fitchburg, MA for $148,000. She completed a renovation of the property and sold it for $320,000.
QS Private Lending provided $188,000 of financing: A $133,000 acquisition loan and a $55,000 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 492% return on her equity investment.
Investment Summary
Project Cost:
Purchase Price$148,000
Renovations$55,000
Closing Costs$6,260
Total Cost$209,260
Financing:
Acquisition Loan$133,000
Construction Loan$55,000
Equity$21,260
Total Financing$209,260
Return on Investment:
Gross Selling Price$320,000
Closing Costs($12,100)
Interest Expense($15,353)
Loan Repayment($188,000)
Net Profit$104,547
Return on Equity492%
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