Success Story
A client needed to close in less than seven days on the acquisition of a single-family residence just east of the North Park neighborhood in San Diego. The borrower needed a quick close on a purchase loan of a below-market property to remodel the house and add an ADU at the rear of the property, making it a two-unit property. The borrower will cover all the construction costs out of pocket.
Fidelis Private Fund provided a $424,000 1st Trust Deed loan on the single-family residential investment property Loan-to-Value (LTV) ratio of 53% upon completion of the remodel.
The client’s exit strategy is to sell the property.
Value Added
The Fidelis Private Fund helped the borrower quickly close on the purchase, creating substantial value for the property. 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.