A repeat QS borrower purchased this single-family home in Framingham, MA for $270,000. He completed a renovation of the property and sold it for $566,000.
QS Private Lending provided $296,000 of financing: A $216,000 acquisition loan and an $80,000 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 373% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$270,000
Renovations$80,000
Closing Costs$8,420
Total Cost$358,420
Financing:
Acquisition Loan$216,000
Construction Loan$80,000
Equity$62,420
Total Financing$358,420
Return on Investment:
Gross Selling Price$566,000
Closing Costs($19,480)
Interest Expense($17,760)
Loan Repayment($296,000)
Net Profit$232,760
Return on Equity373%
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