A repeat client was seeking a quick close to purchase a single-family investment property in the beach community of Encinitas, CA. This property offers the potential for added value in its existing dilapidated state.
Fidelis Private Fund granted the client a $960,000 1st trust deed loan for the property’s purchase, which had a total cost of $1,222,000, considered below market value. This equates to a 78% loan-to-cost ratio. The client intends to extensively remodel the property with their own proceeds, which is projected to raise its value to over $1,500,000, resulting in a 65% loan-to-value ratio.
Once the renovation is complete, the client plans to sell the property as the source of repayment.
The Fidelis Private Fund assisted the client in acquiring the property at a below-market price, instantly adding value. Additionally, they ensured the loan process was smooth and hassle-free.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.