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Wednesday, June 7, 2023

Real Property Investment Partners ‘Flipping’ The Investment Script

This is Part 1 a two-part series on Real Property Investment Partners (RPIP) which is helping
to revitalize communities by providing local underserved real estate entrepreneurs with funding to improve neighborhoods throughout Baltimore and surrounding counties.

Raised by a single mother, Dell Rucker recalled working as a laborer cleaning out houses for his uncle who “flipped” properties. “When I graduated from high school and went to college, during the winter and other breaks I would come home and do demolition work for my uncle,” recalled Rucker, who grew up in West Baltimore. Rucker would eventually begin working for FedEx but yearned to build his own real estate investment company. However, Rucker lacked the financing he needed to purchase properties.
One day while delivering along his FedEx route, Rucker met Tibor Wilheim, CEO of Real Properties Investment Partners (RPIP). The two struck up a conversation about real estate. Today, Rucker, 33, is chief executive officer of Lavender Bird Corporation, which specializes in real estate investments and construction. With capital from RPIP, Rucker was able to successfully “flip” his first property and is currently working on other real estate projects.

A St. Ambrose Avenue home before rehab. (Courtesy Photos)
The St. Ambrose Avenue home after being rehabbed through RPIP funding.

RPIP was formed in 2020 by Tibor Wilheim and Ronald Wilheim. The fund was formed with the goal of providing financing to local entrepreneurs who are looking to improve their neighborhoods throughout Baltimore City and its surrounding counties. RPIP’s platform aims to improve and revitalize overlooked communities that have lacked this crucial liquidity and opportunity. In addition to the Wilheims, the youthful group also includes COO Joseph Cohen, Ari Schaffel, Abraham Nash, and Lady Adan.
Wilheim, 27, graduated with an MBA from Johns Hopkins Carey Business School specializing in Real Estate Finance and worked in the healthcare/real estate arena before founding RPIP.
“I was in school, getting my MBA from Johns Hopkins and I had a friend who approached me for a loan,” said Wilheim. “He was working on fixing up a property in Baltimore City that he bought from a real estate auction. He’s a good guy, and I gave him that loan. I saw what he did with that property…how it started, where it was, and what it became. I also saw that he was able to sell it to a homeowner who was a first-time homeowner who fell in love with the property. I also saw what the property added to the community.”
He continued, “I thought it was very interesting and something that I could put my skillset towards that I’ve learned from Johns Hopkins and from my family who have been in business for a long time in healthcare. I also wanted to succeed and build a platform. So that was my initial introduction to the lending space in Baltimore City and, and to the fix and flip and rental market.”
Flipping is a term used to describe purchasing a revenue-generating asset and quickly reselling it for profit. Within the real estate industry, the term is used by investors to describe the process of buying, rehabbing, and selling properties for profit.

According to Wilheim, the mission of RPIP is to facilitate and finance equitable, community-based growth in Baltimore City by partnering with local minority builders to provide affordable housing for the community’s existing residents. Noting that the city has many homes in disrepair and vacant plots of land that provide no value to the area or its residents, RPIP helps investors finance these properties and assist local builders in creating homes for local residents. Such assistance often comes in the form of hard money loans.
Mortgage lender Rocket Mortgage defines a hard money loan as a short-term, non-conforming loan for commercial or investment properties, that doesn’t come from traditional lenders, but rather people or private companies that accept property or an asset as collateral. Commercial borrowers may turn to hard money loans after having a loan or mortgage application denied, or to avoid the lengthy process of getting approved for a loan through traditional means.
RPIP is a direct lender that provides various financing solutions to real estate investors throughout the Mid-Atlantic, Midwest, and Northeast regions. With a focus on Fix-N-Flip and residential bridge loans, Wilheim said the platform allows investors to fund deals at competitive terms while allowing them to close the transaction in a fraction of the time.
“Sometimes you might get an instant reply from a bank, or it could be a 30-day decision date, or the decision could be based on your credit or FICO score,” said Rucker. “Or, it could be the property, the value of the property, the appraisal of the property, and things like that. Or, it could be that the property isn’t in the best neighborhood. All some banks look at is the property and what the paper says about the property. While I’m waiting on the bank, I could lose out on the deal. With RPIP, I can get the funding I need in time to not lose out on the deal. That helps to level the playing field.”
He added, “The other great thing about this is that no matter how young a person is, how old a person is, or their background or nationality, they can become an investor. That’s RPIP.”
For more information about RPIP visit https://rpiplending.com/.
Coming Next Week: Part 2.

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