A repeat client negotiated another below-market price to purchase a single-family investment property that needed little to no work.
This type of investment opportunity is hard to come by these days when there is not a lot of improvements to be done to create value. The buyer was scheduled to close in a few days and needed a lender that would perform and make it happen.
Fidelis Private Fund provided the borrower a $450,00,000 short-term 1st Trust Deed purchase loan with the borrower funding any improvement costs if needed. The purchase price was $585,000.
The exit strategy is to sell the property in less than three months for a market value of $700,000 or 64% LTV based on sale comparables.
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.