A new QS borrower purchased this single-family home in Methuen, MA for $300,000. He completed a renovation of the property and sold it for $505,000.
QS Private Lending provided $340,000 of financing: A $240,000 acquisition loan and an $100,000 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 183% return on his equity investment.
Return on Investment:
Gross Selling Price$505,000
Return on Equity183%
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