A repeat QS borrower purchased this single-family home in Shrewsbury, MA for $240,000. He renovated the property and sold it for $312,000.
QS Private Lending provided $255,000 of financing: A $215,000 acquisition loan and a $40,000 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 93% return on his investment.
Investment Summary
Project Cost:
Purchase Price$240,000
Renovations$40,000
Closing Costs$7,600
Total Cost$287,600
Financing:
Acquisition Loan$215,000
Construction Loan$40,000
Equity$32,600
Total Financing$287,600
Return on Investment:
Gross Selling Price$312,000
Closing Costs($11,860)
Interest Expense($14,875)
Loan Repayment($255,000)
Net Profit$30,265
Return on Equity93%
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