A repeat Fidelis client who is a general contractor, and a real estate investor needed a lender to provide acquisition financing within two weeks for a six-unit multi-family property, which included 4 detached bungalow units, one two-story duplex with 4 carports.
The plan is to remodel the existing six units and add two ADU’s above the carports fronting the alley for a total of eight units.
Fidelis Private Fund provided the borrower a $1,840,000 1st Trust Deed purchase loan with the borrower contributing over $800,000 in cash equity and improvement costs with an estimated market value at completion of over $3,000,000 or 61% LTV ratio.
The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity. At the same time, making it a smooth and hassle-free loan process.