A repeat QS borrower purchased this single-family home in Newport, RI for $320,000. He renovated the property and sold it for $600,000.
QS Private Lending provided $448,000 of financing: A $288,000 acquisition loan and a $160,000 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 218% return on his investment.
Return on Investment:
Gross Selling Price$600,000
Return on Equity218%
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