Close
760.258.4486
Mon - Fri : 8:00 - 5:00

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

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

Success Story

An experienced real estate investor and client referral purchased several residential properties all cash, and over the past year, entitled the properties for additional rental units.

He now wanted to pull some cash out to purchase other investment property and have funds to remodel and build additional units on the subject property.

The borrower plans to keep the single-family residence, convert the garage to an ADU and construct 4 – 1BR/1BA units for a total of 6 units.

Fidelis Action

Fidelis Private Fund provided the borrower a $1,265,000 1st Trust Deed purchase 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 $2,100,000 or 60% 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