A new QS borrower purchased this single-family home in Hopkinton, MA for $280,000. She renovated the property and sold it for $427,500.
QS Private Lending provided $270,000 of financing: A $250,000 acquisition loan and a $20,000 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 317% return on her investment.
Investment Summary
Project Cost:
Purchase Price$280,000
Renovations$20,000
Closing Costs$7,900
Total Cost$307,900
Financing:
Acquisition Loan$250,000
Construction Loan$20,000
Equity$37,900
Total Financing$307,900
Return on Investment:
Gross Selling Price$427,500
Closing Costs($15,325)
Interest Expense($22,050)
Loan Repayment($270,000)
Net Profit$120,125
Return on Equity317%
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