A new QS borrower purchased this single-family home in Attleboro, MA for $210,000. She renovated the property and sold it for $360,000.
QS Private Lending provided $225,000 of financing: A $175,000 acquisition loan and a $50,000 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 252% return on her equity investment.
Investment Summary
Project Cost:
Purchase Price$210,000
Renovations$50,000
Closing Costs$7,000
Total Cost$267,000
Financing:
Acquisition Loan$175,000
Construction Loan$50,000
Equity$42,000
Total Financing$267,000
Return on Investment:
Gross Selling Price$360,000
Closing Costs($13,300)
Interest Expense($15,750)
Loan Repayment($225,000)
Net Profit$105,950
Return on Equity252%
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