Success Story
An experienced real estate investor and repeat client needed a loan to purchase a single-family residence (SFR) and the funds to increase the property’s value by building several ADU’s.
Fidelis Action
Fidelis Private Fund provided the borrower a $1,335,000 1st Trust Deed purchase loan commitment with an initial disbursement of $510,000 and an $825,000 holdback for construction improvements. The purchase price was $680,000 with the after-completion value exceeding $2,200,000 or 61% LTV.
The exit strategy is to remodel, construct the ADU’s and stabilize the property then refinance with a conventional lender.
Value Added
The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity and provide the additional funds adding value to the property. At the same time, making it a smooth and hassle-free loan process.