A returning client required a fast closing to acquire a single-family investment property in San Diego. This property holds the potential for increased density by constructing multiple Accessory Dwelling Units (ADUs) at the rear of the premises.
Fidelis will subsequently modify the loan to accommodate the future construction of additional ADUs once the borrower obtains the necessary building permits.
Fidelis Private Fund extended a $480,000 1st Trust Deed purchase loan to the borrower for a property valued at $690,000, resulting in a 69% loan-to-cost ratio. The property’s potential to enhance its value by adding ADUs promises future equity growth.
The exit strategy involves refinancing with a conventional loan after constructing additional rental units.
The Fidelis Private Fund helped the borrower acquire a property with the potential for added value potential. 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.