A repeat QS borrower purchased this single-family home in Gardner, MA for $160,000. He completed a renovation of the property and sold it for $294,000.
QS Private Lending provided $185,000 of financing: A $144,000 acquisition loan and a $41,000 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 372% return on his equity investment.
Investment Summary
Project Cost:
Purchase Price$160,000
Renovations$41,000
Closing Costs$6,200
Total Cost$207,200
Financing:
Acquisition Loan$144,000
Construction Loan$41,000
Equity$22,200
Total Financing$207,200
Return on Investment:
Gross Selling Price$294,000
Closing Costs($11,320)
Interest Expense($15,108)
Loan Repayment($185,000)
Net Profit$82,572
Return on Equity372%
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