An excellent repeat client and experienced real estate investor was in escrow to purchase a residential investment property at a below-market price in Reno, Nevada and needed a lender that could close fast.
Fidelis Private Fund provided a $200,000 1st Trust Deed purchase loan. The market value results in a 60-65% LTV ratio. The average rent is $2,400/month, and using a permanent loan debt service, even at today’s higher interest rates, will generate a positive cash flow.
The exit strategy is to refinance with a conventional loan once the property is stabilized.
The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity with a quick close resulting in an asset generating a positive net cash flow. At the same time, making it a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.