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.
Return on Investment:
Gross Selling Price$362,000
Return on Equity398%
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