An experienced builder and repeat QS borrower purchased this single-family home in Bellingham, MA for $145,000. He renovated the property and sold it for $280,000.
QS Private Lending provided $170,000 of financing: a $110,000 acquisition loan and a $60,000 construction loan. The loan was for 12 months at 12% interest and was secured by a first mortgage on the property.
The borrower made a 282% return on his investment.
Investment Summary
Project Cost:
Purchase Price$145,000
Renovations$60,000
Closing Costs$5,900
Total Cost$210,900
Financing:
Acquisition Loan$110,000
Construction Loan$60,000
Equity$40,900
Total Financing$210,900
Return on Investment:
Gross Selling Price$280,000
Closing Costs($10,900)
Interest Expense($11,900)
Loan Repayment($170,000)
Net Profit$87,200
Return on Equity282%
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