An experienced builder and repeat QS borrower purchased this single-family home in Wilmington, MA for $305,000.
He renovated the property and sold it for $480,000.
QS Private Lending provided $323,000 of financing: A $244,000 acquisition loan and a $79,000 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 182% return on his investment.
Investment Summary
Project Cost:
Purchase Price$305,000
Renovations$79,000
Closing Costs$8,960
Total Cost$392,960
Financing:
Acquisition Loan$244,000
Construction Loan$79,000
Equity$69,960
Total Financing$392,960
Return on Investment:
Gross Selling Price$480,000
Closing Costs($16,900)
Interest Expense($12,920)
Loan Repayment($323,000)
Net Profit$127,180
Return on Equity182%
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