The timing was right for our borrower when they found an off-market opportunity to purchase an affordable single-family fixer-upper investment property below market value. The seller needed to sell quickly.
Fidelis Private Fund provided the borrower a $270,00,000 short-term 1st Trust Deed purchase loan, with a $90,000 holdback for improvements. The initial disbursement was $180,000, or 80% of the purchase price. The “as is” value is closer to $300,000 or 60% LTV at funding.
The exit strategy is to sell the property in less than six months for an “at completion market value” in the $475,000 or 57% LTV range.
The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity within a matter of days. 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.