An experienced builder and repeat QS borrower purchased this single-family home in Hopedale, MA for $167,475.
He renovated the property and sold it for $350,000.
QS Private Lending provided $175,000 of financing: A $125,000 acquisition loan and a $50,000 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 313% return on his investment.
Investment Summary
Project Cost:
Purchase Price$167,475
Renovations$50,000
Closing Costs$6,000
Total Cost$223,475
Financing:
Acquisition Loan$125,000
Construction Loan$50,000
Equity$48,475
Total Financing$223,475
Return on Investment:
Gross Selling Price$350,000
Closing Costs(13,000)
Interest Expense(10,500)
Loan Repayment($175,000)
Net Profit$151,500
Return on Equity313%
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