A repeat QS borrower purchased this single-family home in Upton, MA for $229,000. He renovated the property and sold it for $372,000.
QS Private Lending provided $225,000 of financing: A $180,000 acquisition loan and a $45,000 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 218% return on his investment.
Investment Summary
Project Cost:
Purchase Price$229,000
Renovations$45,000
Closing Costs$7,000
Total Cost$281,000
Financing:
Acquisition Loan$180,000
Construction Loan$45,000
Equity$56,000
Total Financing$281,000
Return on Investment:
Gross Selling Price$372,000
Closing Costs($13,660)
Interest Expense($11,250)
Loan Repayment($225,000)
Net Profit$122,090
Return on Equity218%
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