A borrower needed to access cash equity in an existing residential investment property located in Escondido, CA, to purchase another business investment. Instead of having to sell the property, the borrower wanted to refinance and pull cash out as well as use his personal residence as additional collateral as an “abundance of caution.”
The market value of the subject property is estimated at $520,000 or 58% LTV. To be conservative, this does not include the additional personal residence that is crossed collateralized.
Fidelis Private Fund provided the borrower a $300,000 short-term 1st Trust Deed refinance cash-out loan.
The exit strategy is to pay off the loan with the sale of another investment.
The Fidelis Private Fund helped the borrower access cash equity in his property to take advantage of other investment opportunities. At the same time, we make it a smooth and hassle-free process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.