A repeat QS borrower purchased this single-family home in Hopkinton, MA for $465,000. He completed a renovation of the property and sold it for $927,000.
QS Private Lending provided $608,000 of financing: A $372,000 acquisition loan and a $236,000 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 200% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$465,000
Renovations$236,000
Closing Costs$14,660
Total Cost$715,660
Financing:
Acquisition Loan$372,000
Construction Loan$236,000
Equity$107,660
Total Financing$715,660
Return on Investment:
Gross Selling Price$927,000
Closing Costs($30,310)
Interest Expense($72,960)
Loan Repayment($608,000)
Net Profit$215,730
Return on Equity200%
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