An experienced builder and repeat QS borrower purchased this single-family home in South Dennis, MA for $238,000. He renovated the property and sold it for $360,000.
QS Private Lending provided $240,000 of financing: A $210,000 acquisition loan and a $30,000 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 255% return on his investment.
Investment Summary
Project Cost:
Purchase Price$238,000
Renovations$30,000
Closing Costs$7,300
Total Cost$275,300
Financing:
Acquisition Loan$210,000
Construction Loan$30,000
Equity$35,300
Total Financing$275,300
Return on Investment:
Gross Selling Price$360,000
Closing Costs($13,300)
Interest Expense($16,800)
Loan Repayment($240,000)
Net Profit$89,900
Return on Equity255%
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