A new QS borrower purchased this single-family home in Bridgewater, MA for $405,000. She completed a renovation of the property and sold it for $655,000.
QS Private Lending provided $453,000 of financing: A $378,000 acquisition loan and a $75,000 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 329% return on her equity investment.
Investment Summary
Project Cost:
Purchase Price$405,000
Renovations$75,000
Closing Costs$11,560
Total Cost$491,560
Financing:
Acquisition Loan$378,000
Construction Loan$75,000
Equity$38,560
Total Financing$491,560
Return on Investment:
Gross Selling Price$655,000
Closing Costs($22,150)
Interest Expense($52,850)
Loan Repayment($453,000)
Net Profit$127,000
Return on Equity329%
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