A long-time client needed construction financing to add an ADU to two single-family investment properties in Fallbrook, CA, and needed a bridge lender to make it a smooth and seamless process. This is one of the two properties.
Fidelis Private Fund provided the borrower a $335,000 loan commitment with an after-completion value resulting in a conservative 51% LTV.
The exit strategy is to stabilize the property then immediately refinance with a conventional long-term loan.
The Fidelis Private Fund helped the borrower add value to his existing investment property. At the same time, making it a smooth and hassle-free loan process.