A repeat client was in contract for almost two years to purchase a single-family residence in the Bay Park area of San Diego with a locked-in purchase price of $825,000.
The buyer did not close on the transaction until July 2021 due to difficulty in removing the tenants. During that time, the property value when up over $500,000, creating an extremely profitable investment with the locked-in purchase price.
Fidelis Private Fund provided the borrower a $700,000 1st Trust Deed purchase loan, and the borrower immediately turned around and entered escrow to sell the property for $1,395,000 or a 50% LTV ratio.
The Fidelis Private Fund worked patiently with the borrower over the almost two-year period to fund a long-drawn-out purchase loan, making it easy, allowing the borrower to cash in on an excellent investment opportunity.