An existing QS borrower purchased this single-family home in Stoneham, MA for $370,000. He renovated the property and sold it for $556,000.
QS Private Lending provided $380,000 of financing: A $330,000 acquisition loan and a $50,000 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 251% return on his investment.
Investment Summary
Project Cost:
Purchase Price$370,000
Renovations$50,000
Closing Costs$10,100
Total Cost$430,100
Financing:
Acquisition Loan$330,000
Construction Loan$50,000
Equity$50,100
Total Financing$430,100
Return on Investment:
Gross Selling Price$556,000
Closing Costs($19,180)
Interest Expense($31,033)
Loan Repayment($380,000)
Net Profit$125,787
Return on Equity251%
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