A real estate investor had an opportunity to purchase a single-family residence in the San Diego area as fix & flip investment property and needed to close within a week.
It was to be held less than three months, and the borrower wanted a reliable lender that would perform on short notice and not charge a prepayment penalty regardless of when the loan paid off.
Fidelis Private Fund moved fast and provided a $405,000 short term 1st Trust Deed or a 70% LTV ratio.
The exit strategy is to sell the property immediately after a cosmetic remodel.
The Fidelis Private Fund helped the borrower by closing the loan within five days with no prepayment penalty on a short term loan that would pay off within three months.
Another transaction where Fidelis Private Fund is helping our client achieve their financial goal.
Deal FPF 10023