A new QS borrower purchased this two-family home in Revere, MA for $650,000. He completed a renovation of the property and sold it for $862,000.

QS Private Lending provided $582,000 of financing: A $552,000 acquisition loan and a $30,000 construction loan. The loan was for 12 months at 13% interest. It was secured by a first mortgage on the property.

The borrower made a 191% return on his equity investment.

Investment Summary

Project Cost:
Purchase Price$650,000
Renovations$30,000
Closing Costs$14,140
Total Cost$694,140

Financing:
Acquisition Loan$552,000
Construction Loan$30,000
Equity$112,140
Total Financing$694,140

Return on Investment:
Gross Selling Price$862,000
Closing Costs($28,360)
Interest Expense($37,830)
Loan Repayment($582,000)
Net Profit$213,810
Return on Equity191%

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