A new QS borrower purchased this single-family home in Cumberland, RI for $200,000. He completed a renovation of the property and sold it for $396,000.
QS Private Lending provided $220,000 of financing: A $180,000 acquisition loan and a $40,000 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 496% return on his equity investment.
Return on Investment:
Gross Selling Price$396,000
Return on Equity496%
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