They say they’re retired…no way!

They say they’re retired…no way!

Written By: Spring Garden Lending

Rupert is currently a practicing architect with his own business; Gwen was in IT though her father was a contractor…so they both came to real estate in a logical path. After taking real estate investment training in 2018 on the subject, they were inspired and jumped into the industry. They have been engaged and thriving ever since.

In 2018 they created their first entity, RGM Real Estate Solutions LLC and used hard and private money to rehab four projects since that time. Gaining steam, Rupert and Gwen created their second entity, M&G Real Estate Ventures LLC in 2020 focusing on Baltimore City and affordable housing. This entity was a collaboration with City agencies and the One House at a Time program (OHAAT) buying city owned properties.

In 2020 Rupert and Gwen again joined forces with One House at a Time and the Baltimore Department of Housing and Community Development to purchase three abandoned, vacant and depressed properties in Baltimore City in the Park Heights, Oliver and Walbrook neighborhoods. These properties are being brought back to life through this successful collaboration.

In 2022 Rupert and Gwen decided to create a rental entity and take one of the above properties in Park Heights to make it a rental. This is where Pete Pecoraro, Spring Garden Lending’s Market Director and SVP for Commercial Lending, comes into the picture. For three years Rupert and Pete were running into each other at events like Meet Ups always talking about lending. But it was this rental project that got Rupert and Gwen thinking, “Let’s get a lender whom we can work with.” The obvious answer was Pete who through his creative thinking and enthusiasm for the job, got the project going with a construction loan. This was in 2022 and the project is 95% complete. Both Rupert and Gwen agree, “Spring Garden Lending is fast moving. The process has been problem free; inspections are done quickly; and we are very impressed with the quick draws. All along Pete was very responsive and we benefited from his experience in the field.”

Retirement is not in their future. Rupert and Gwen are in the business long term bringing their adult children along as partners. They believe strongly that Baltimore needs good affordable housing; housing that meets their high livable standards. Baltimore is lucky to have developers like Rupert and Gwen who care passionately about their City and the people who live there, especially those who want to achieve the American dream of homeownership.

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