Success Story
A repeat client and experienced real estate investor wanted to tap into his existing real estate equity to purchase a single family residential investment property in Chula Vista, CA as a fix and flip with almost no cash down. The borrower owned other investment properties with substantial equity and allowed the properties to be cross-collateralized in lieu of a cash down payment. The borrower will come out of pocket to make the improvements to the property.
Fidelis Private Fund facilitated a $550,000 first trust deed purchase loan. The single-family residence secured the loan along with another investment property with substantial equity, resulting in a combined loan-to-value ratio of 41%.
The borrower plans to immediately sell the property after remodel as the source of repayment.
Value Added
Fidelis helped the borrower by requiring no cash down and using additional real estate collateral as equity to purchase a single-family investment property at the same time making the loan more than adequately secured for the lender. This resulted in a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.