A repeat QS borrower purchased this single-family home in Dudley, MA for $132,500. He completed a renovation of the property and sold it for $300,000.
QS Private Lending provided $182,000 of financing: A $112,000 acquisition loan and a $70,000 construction loan. The loan was for 12 months at 13% interest. It was secured by a first mortgage on the property.
The borrower made a 370% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$132,500
Renovations$70,000
Closing Costs$6,140
Total Cost$208,640
Financing:
Acquisition Loan$112,000
Construction Loan$70,000
Equity$26,640
Total Financing$208,640
Return on Investment:
Gross Selling Price$300,000
Closing Costs($11,500)
Interest Expense($7,887)
Loan Repayment($182,000)
Net Profit$98,613
Return on Equity370%
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