A repeat QS borrower purchased this single-family home in Dudley, MA for $230,000. He completed a renovation of the property and sold it for $370,000.
QS Private Lending provided $219,000 of financing: A $184,000 acquisition loan and a $35,000 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 240% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$230,000
Renovations$35,000
Closing Costs$6,880
Total Cost$271,880
Financing:
Acquisition Loan$184,000
Construction Loan$35,000
Equity$52,880
Total Financing$271,880
Return on Investment:
Gross Selling Price$370,000
Closing Costs($13,600)
Interest Expense($10,950)
Loan Repayment($219,000)
Net Profit$126,450
Return on Equity240%
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