A repeat QS borrower purchased this single-family home in Stoneham, MA for $440,000. He completed a renovation of the property and sold it for $590,000.
QS Private Lending provided $409,000 of financing: A $374,000 acquisition loan and a $35,000 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 167% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$440,000
Renovations$35,000
Closing Costs$10,680
Total Cost$485,680
Financing:
Acquisition Loan$374,000
Construction Loan$35,000
Equity$76,680
Total Financing$485,680
Return on Investment:
Gross Selling Price$590,000
Closing Costs($20,200)
Interest Expense($32,720)
Loan Repayment($409,000)
Net Profit$128,080
Return on Equity167%
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