A repeat client negotiated a below market price to purchase a single-family investment property in San Diego that required only some cosmetic improvements, and needed to close in less than 10 days.
The buyer needed a lender that would perform fast and make it an easy process.
Fidelis Private Fund provided the borrower a $565,00,000 short-term 1st Trust Deed purchase loan value with a purchase price of $750,000 or 75% loan to cost, however the market value with only slight cosmetic improvements will exceed $850,000 or 66% LTV.
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, made it a smooth and hassle-free loan process.