A repeat QS borrower purchased this single-family home in Newport, RI for $320,000. He renovated the property and sold it for $600,000.

QS Private Lending provided $448,000 of financing: A $288,000 acquisition loan and a $160,000 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 218% return on his investment.

Investment Summary

Project Cost:
Purchase Price$320,000
Renovations$160,000
Closing Costs$11,460
Total Cost$491,460

Financing:
Acquisition Loan$288,000
Construction Loan$160,000
Equity$43,460
Total Financing$491,460

Return on Investment:
Gross Selling Price$600,000
Closing Costs($20,500)
Interest Expense($36,587)
Loan Repayment($448,000)
Net Profit$94,913
Return on Equity218%

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