A client referral and real estate investor needed a loan to acquire a dilapidated single-family residential investment property in San Diego with added-value potential. The borrower also wanted to utilize the equity capacity in another free and clear investment property as cash down for the investment.
Fidelis Private Fund provided the borrower an $800,000 1st Trust Deed purchase loan that included another 1st Trust Deed on a residential duplex in Oceanside, CA. The two cross-collateralized residential investment properties resulted in a 44% LTV ratio.
The exit strategy is to sell the property once it is remodeled by the borrower.
The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity and utilize equity in another free and clear property as the cash down payment. 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.