Success Story
A returning client and experienced real estate investor required a fast closing to acquire a residential duplex investment property in San Diego. This property holds the potential for increased density by constructing multiple Accessory Dwelling Units (ADUs) at the rear of the premises.
Fidelis will subsequently modify the loan to accommodate the future construction of additional ADUs once the borrower obtains the necessary building permits.
Fidelis Private Fund extended a $772,500 1st Trust Deed purchase loan to the borrower for a property valued at $1,100,000, resulting in a 69% loan-to-cost ratio. The property’s potential to enhance its value by adding ADUs promises future equity growth.
The exit strategy involves arranging a construction loan to construct additional rental units and then, after completion, refinance with a conventional permanent loan.
Value Added
The Fidelis Private Fund helped the borrower acquire a property with the potential for added value potential. At the same time, making it a smooth and hassle-free loan
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.