Success Story
A reputable repeat brokerage client approached Fidelis because their client was facing a timing challenge. The client needed to close on the purchase of a property before the sale of another property had sold, which was intended to provide the down payment on the purchase. Fidelis stepped in to bridge the gap by providing a cash-out refinance loan on a free and clear investment property in El Cajon, CA. This allowed the client to secure the necessary cash to close the purchase.
Fidelis Private Fund provided the borrower with a $550,000 first trust deed refinance loan, secured by a single-tenant, 100% leased, retail property valued conservatively at $1,500,000 or a loan-to-value ratio of 37%.
The exit strategy is for the borrower to use the proceeds from the sale of another identified property currently in escrow to pay off the Fidelis loan.
Value Added
The Fidelis Private Fund helped a borrower with substantial real estate equity but limited cash liquidity. By refinancing a free and clear property, Fidelis enabled the borrower to access the necessary funds to purchase another property. This resulted in a smooth and hassle-free loan process, allowing the borrower to seize the desired investment opportunity.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.