A repeat client negotiated an excellent price to purchase a single-family investment property in San Diego that needed cosmetic improvements.
The buyer needed a lender that would perform fast and make it an easy process.
Fidelis Private Fund provided the borrower a $550,00,000 short-term 1st Trust Deed purchase loan commitment with a $50,000 holdback to accommodate a remodel. The initial disbursement was $500,000, with an expected future value estimated at $840,000 or 65% LTV. The purchase price was $660,000.
The exit strategy is to sell the property after the remodel.
The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity. At the same time, making it a smooth and hassle-free loan process.