Deal Spotlight | 2101 N. Madison St, Wilmington DE
Deal Spotlight · Wilmington, DE
2101 N Madison St, Wilmington, DE
From purchase to sale in under nine months. Here’s a closer look at one of the short-term loans SPG Capital’s fund made in Delaware, with the numbers behind it.
The Numbers
$240,000
Purchase price
$80,000
Renovation costs
$320,000
Our loan
$425,000
Sale price
$60,000
Borrower gross profit
< 9 months
Total loan timeline
Our $320,000 loan covered the full purchase and renovation budget and was about 75% of the final $425,000 sale price.
How the Loan Worked
Purchase. The borrower bought the property for $240,000.
Renovation. The borrower put $80,000 into the renovation.
Financing. SPG Capital’s fund provided a $320,000 short-term loan, secured by a first-position mortgage on the property.
Sale. The home sold for $425,000, leaving the borrower roughly $60,000 in gross profit. The total loan timeline was under nine months.
Why We Made This Loan
SPG Capital is run by active real estate investors who acquire, renovate, and sell properties ourselves. We look at every loan the way an operator would: the property, the work required, and the borrower’s plan to sell.
“We lend only on deals we’d be willing to take over and finish ourselves.”
Projects like this one are what the fund is built on: short-term, collateral-backed loans to residential investors across Pennsylvania, Delaware, and New Jersey. Investors don’t own this house. They invest in the fund, which makes loans like this one and pays monthly distributions under its offering terms.
View 2101 N Madison St on Zillow →
Accredited Investors
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Want to know how deals like this one support the fund’s 9% or 10% target preferred return? Book 30 minutes with Josh. No pitch deck, just your questions answered.
Disclosure: Figures describe one borrower’s project and loan, not investor returns. Target preferred returns are not guaranteed. Past performance does not guarantee future results. Investing involves risk, including loss of principal. Offers are made only to verified accredited investors through official offering documents.