A repeat QS borrower purchased this single-family home in Holbrook, MA for $163,000. He completed a renovation of the property and sold it for $565,000.
QS Private Lending provided $345,000 of financing: A $145,000 acquisition loan and a $200,000 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 453% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$163,000
Renovations$200,000
Closing Costs$9,400
Total Cost$372,400
Financing:
Acquisition Loan$145,000
Construction Loan$200,000
Equity$27,400
Total Financing$372,400
Return on Investment:
Gross Selling Price$565,000
Closing Costs($19,450)
Interest Expense($76,475)
Loan Repayment($345,000)
Net Profit$124,075
Return on Equity453%
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