A new QS borrower purchased this two-family home in Providence, RI for $210,000. He completed a renovation of the property and sold it for $362,000.

QS Private Lending provided $222,000 of financing: A $189,000 acquisition loan and a $33,000 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 398% return on his equity investment.

Investment Summary

Project Cost:
Purchase Price$210,000
Renovations$33,000
Closing Costs$6,940
Total Cost$249,940

Financing:
Acquisition Loan$189,000
Construction Loan$33,000
Equity$27,940
Total Financing$249,940

Return on Investment:
Gross Selling Price$362,000
Closing Costs($13,360)
Interest Expense($15,540)
Loan Repayment($222,000)
Net Profit$111,100
Return on Equity398%

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