A repeat client needed funds to finish rehabbing an investment property. Instead of selling a property with substantial equity, the borrower requested a cash-out loan secured by a multi-family property just north of downtown San Diego, CA.
Fidelis Private Fund provided the borrower with a $350,000 2nd Trust Deed refinance loan. The loan was secured by a multi-family property with a low 1st Trust Deed loan of less than $500K, resulting in a low combined Loan-to-Value (LTV) ratio of approximately 34%.
The exit strategy is to sell an investment property.
The Fidelis Private Fund helped the borrower by performing quickly and allowing the borrower to tap into equity in an investment property without having to immediately sell to provide liquidity, resulting in a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.