A repeat QS borrower purchased this single-family home in Mendon, MA for $375,000. He completed a renovation of the property and sold it for $551,000.
QS Private Lending provided $371,000 of financing: A $300,000 acquisition loan and a $71,000 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 159% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$375,000
Renovations$71,000
Closing Costs$9,920
Total Cost$455,920
Financing:
Acquisition Loan$300,000
Construction Loan$71,000
Equity$84,920
Total Financing$455,920
Return on Investment:
Gross Selling Price$551,000
Closing Costs($19,030)
Interest Expense($25,970)
Loan Repayment($371,000)
Net Profit$135,000
Return on Equity159%
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