A client referral needed to close fast on purchasing a single-family investment property in the community of Golden Hill, east of downtown San Diego. The property has the potential for increased density in the rear of the property with alley access.
Fidelis Private Fund provided the borrower a $1,020,000 1st Trust Deed purchase loan at a $1,400,000 purchase price or 80% loan to cost. However, the borrower will be doing a complete remodel and add an ADU (additional rental unit), creating substantial value that should easily exceed $1,800,000 or a 57% LTV ratio.
The exit strategy is to sell the property upon completion.
The Fidelis Private Fund helped the borrower acquire a property with added value potential. At the same time, made it a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.