An experienced builder and repeat QS borrower purchased this single-family home in Holbrook, MA for $174,000.
He renovated the property and sold it for $424,900.
QS Private Lending provided $290,000 of financing: A $155,000 acquisition loan and a $135,000 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 327% return on his investment.
Investment Summary
Project Cost:
Purchase Price$174,000
Renovations$135,000
Closing Costs$8,300
Total Cost$317,300
Financing:
Acquisition Loan$155,000
Construction Loan$135,000
Equity$27,300
Total Financing$317,300
Return on Investment:
Gross Selling Price$424,900
Closing Costs(15,247)
Interest Expense(30,450)
Loan Repayment(290,000)
Net Profit$89,203
Return on Equity327%
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