A repeat QS borrower purchased this single-family tear-down in Marshfield, MA for $150,000. He built a new single-family home on the property and sold it for $650,000.
QS Private Lending provided $445,000 of financing: A $135,000 acquisition loan and a $310,000 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 536% return on his investment.
Investment Summary
Project Cost:
Purchase Price$150,000
Renovations$310,000
Closing Costs$11,400
Total Cost$471,400
Financing:
Acquisition Loan$135,000
Construction Loan$310,000
Equity$26,400
Total Financing$471,400
Return on Investment:
Gross Selling Price$650,000
Closing Costs($22,000)
Interest Expense($41,533)
Loan Repayment($445,000)
Net Profit$141,467
Return on Equity536%
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