Success Story
A repeat client negotiated an excellent price to purchase a single-family investment property with the plans to add additional dwelling units (ADU’s) to the site. The purpose of the loan was to acquire the property and later provide additional funds to construct improvements.
The buyer needed a lender that would perform fast and accommodate the borrower later in the loan term when permits were obtained to amend the loan to provide for the added value.
Fidelis Private Fund provided the borrower a $595,00,000 short-term 1st Trust Deed purchase loan. The purchase price was $794,450, or 75% of the purchase price.
Fidelis Action
Fidelis Private Fund provided the borrower a $595,00,000 short-term 1st Trust Deed purchase loan. The purchase price was $794,450, or 75% of the purchase price.
Later on in the term of the loan, the exit strategy is to amend the note for the ADU’s, thereby increasing the property’s value not to exceed 60% LTV.
Value Added
The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity within a matter of days to subsequently add value with additional improvements. 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.