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$1,265,000 Refinance/Construction/Bridge Loan

$1,265,000 Refinance/Construction/Bridge Loan

Success Story

An experienced real estate investor and an excellent client needed a construction loan to transition a single-family residence into a multi-family property by keeping the house and converting the garage to a rental unit and constructing four units on the rear of the property for a total of 6 rental units.

Fidelis Action

Fidelis Private Fund provided the borrower a $1,265,000 1st Trust Deed refinance loan commitment with an initial disbursement of $560,000 and a $705,000 holdback for construction of improvements. The purchase price was $747,500, with the after-completion value exceeding $2,500,000 or 51% LTV.

The exit strategy is to remodel, construct new units and stabilize the property then refinance with a conventional lender.

Value Added

The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity and provide cash liquidity from real estate equity and facilitate adding value to the property. At the same time, making it a smooth and hassle-free loan process.

$1,390,000 Refinance/Construction/Bridge Loan $450,000 Purchase/ Bridge Loan