A repeat QS borrower purchased this condo unit in Worcester, MA for $142,080. He renovated the property and sold it for $239,900.
QS Private Lending provided $130,000 of financing: A $125,000 acquisition loan and a $5,000 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 418% return on his investment.
Investment Summary
Project Cost:
Purchase Price$142,080
Renovations$5,000
Closing Costs$5,100
Total Cost$152,180
Financing:
Acquisition Loan$125,000
Construction Loan$5,000
Equity$22,180
Total Financing$152,180
Return on Investment:
Gross Selling Price$239,900
Closing Costs($9,697)
Interest Expense($7,583)
Loan Repayment($130,000)
Net Profit$92,620
Return on Equity418%
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