Success Story
A repeat client purchased a single-family investment property on a large lot and obtained the entitlements to remodel the SFR and add six additional units creating substantial value. The borrower needed a construction loan to refinance the acquisition loan and provide funds for the construction of 6 additional units plus the SFR for a total of seven units.
Fidelis Private Fund provided the borrower a $2,070,000 construction 1stTrust Deed refinance construction loan at a conservative 60% LTV ratio at completion and stabilized occupancy.
The exit strategy is to refinance with a conventional lender.
Value Added
The Fidelis Private Fund helped the borrower add substantial value by transforming the single-family residence into a 7-unit multi-family 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.