R x
RX Capital
Private Debt Fund I

Funding proven operators in Cincinnati's most resilient housing market.

10%
LP Preferred Return
$20M
Target Fund Size
300+
Deals Completed
506(c)
Regulation D
What We Do
Lending capital to Cincinnati's
most active investors

Morning Brew Properties has spent nearly a decade building a track record in distressed residential acquisitions. Now we've structured that expertise into a private lending fund.

01
Bridge Lending

Short-term loans for fix-and-flip investors. 12% interest, 2 points origination, secured by first-position liens on residential properties across the Cincinnati MSA.

02
Collateral-Backed

Every loan is secured by a first-position mortgage. We lend at conservative LTVs with in-house appraisals and title insurance on each transaction.

03
Cincinnati-Focused

Hyperlocal expertise in Hamilton, Butler, Warren, and Clermont Counties. We know the neighborhoods, the comps, and the borrowers personally.

Fund Structure
Straightforward terms.
No hidden complexity.
10%
Preferred Return
Annual preferred return to LPs before GP participates in profits.
506(c)
Offering Type
Open to verified accredited investors. General solicitation permitted.
1.75×
Annual Turns
Loans average 6–8 months with capital recycled into new loans throughout the year.
$50K
Min. Investment
Minimum LP commitment of $50,000 for verified accredited investors.
Process
How your capital works
01
You Invest

Verify accredited investor status, review the PPM, and invest through our secure Agora platform with as little as $50,000.

02
We Deploy

Your capital is deployed into collateralized bridge loans to Cincinnati-area fix-and-flip investors at 12% interest + 2 points.

03
You Earn

Receive your 10% preferred return distributed quarterly while your principal is secured by first-position mortgages.

04
We Repeat

As loans mature, capital is recycled into new loans — compounding the return cycle throughout the fund term.

Ready to learn more?
Download the PPM or schedule a conversation with our team.
Testimonials
Investors & Borrowers
Tell Their Story

From LP investors earning steady returns to borrowers who closed deals in days — here's what they're saying about working with RX Capital.

★★★★★

"As a retired physician looking for reliable income, I was tired of watching my capital sit in money markets. RX Capital gave me exactly what I needed — a predictable 10% return backed by real estate I could understand. The reporting is clear and I've already referred two colleagues."

S
Dr. Sandra K.
LP Investor — Cincinnati, OH
★★★★★

"I sold my business last year and had capital to put to work. My CPA introduced me to RX Capital as an alternative to bonds. The due diligence process was professional, the documents were clean, and the communication has been excellent from day one."

T
Tom A.
LP Investor — Mason, OH
★★★★★

"I've borrowed from multiple hard money lenders and RX Capital is the most professional operation I've worked with locally. Closings happen on time, communication is consistent, and the team actually understands renovation budgets. Fast funding saved a deal that would have gone to someone else."

J
James W.
Borrower — Fix & Flip Investor
★★★★★

"I was skeptical about private lending funds — you hear horror stories. But the team walked me through every detail of the PPM, answered every question I had, and the track record speaks for itself. Three distributions in, everything has been exactly as promised."

C
Carol B.
LP Investor — Anderson Township, OH
★★★★★

"RX Capital funded my last four deals. The application is straightforward, the appraisal is done in-house so there's no waiting, and the funding wire hits on time every time. In this market, speed is everything — they deliver."

M
Marcus D.
Borrower — 12 Deals Completed
Portfolio
Before & After —
The Work Speaks for Itself

Every property below was financed through RX Capital bridge loans. Real deals, real neighborhoods, real results — the collateral behind your investment.

Before
🏚️
Vacant & Distressed
After
🏡
Fully Renovated
3966 Avilla Pl — Cincinnati, OH 45213
Loan$165,000
ARV$240,000
Term8 months
Status✅ Paid in Full
Renovation Walkthrough
Before
🏚️
Code Violations
After
🏡
Move-In Ready
316 Eaton Ave — Hamilton, OH 45013
Loan$187,000
ARV$265,000
Term12 months
Status🔄 Active
Renovation Walkthrough
Before
🏚️
Fire Damaged
After
🏡
Fully Rebuilt
3902 Leslie Ave — Covington, KY 41015
Loan$112,500
ARV$185,000
Term6 months
Status✅ Paid in Full
Renovation Walkthrough
Before
🏚️
Foreclosure
After
🏡
Rental Ready
206 Lafayette Ave — Bellevue, KY 41073
Loan$240,000
ARV$360,000
Term130 days
Status✅ Paid in Full
Renovation Walkthrough
Your capital funds deals like these
Every loan is secured by a first-position mortgage on properties in markets we know personally.
FAQ
Frequently Asked
Questions

Everything you need to know about investing in RX Capital Lending Fund I — from how it works to how you get paid.

The Basics
RX Capital Lending Fund I, LLC is a private real estate debt fund that makes short-term bridge loans to residential real estate investors in the Greater Cincinnati MSA (Hamilton, Butler, Warren, and Clermont Counties). The fund is managed by RX Capital LLC and operated under the Morning Brew Properties brand.
The fund is offered under Regulation D, Rule 506(c), which is open to verified accredited investors only. An accredited investor is generally defined as an individual with net worth exceeding $1 million (excluding primary residence) or income over $200,000 ($300,000 joint) in each of the past two years.
The minimum investment is $50,000. Please contact us directly if you are considering a commitment above $500,000, as allocation may be adjusted based on fund capacity.
The fund has a target raise of $20 million in LP equity. We are currently in our initial fundraising phase. Once the target is reached, the fund will stop accepting new capital commitments.
Returns & Distributions
LP investors receive a 10% annual preferred return before the GP participates in any profits. Above the 10% hurdle, excess income is split 50/50 between LP investors and the GP. The 10% preferred return is a target, not a guarantee.
Distributions are made quarterly. Interest income from the loan portfolio accrues monthly and is distributed to LP investors on a quarterly basis. The specific schedule is outlined in the Private Placement Memorandum.
The fund earns income through three primary channels: (1) 12% annual interest on outstanding bridge loans, (2) 2-point origination fees collected at closing on each loan, and (3) all-in processing fees of $1,500 per loan origination. Idle capital not deployed in loans is held in short-term Treasury Bills.
Risk & Security
Every loan made by the fund is secured by a first-position mortgage on the subject property. The fund underwrites at conservative loan-to-value ratios and requires title insurance on each transaction. In the event of borrower default, the fund has the legal right to foreclose and recover the collateral.
In the event of default, the fund will pursue its remedies as a first-position lienholder, which may include foreclosure proceedings. Given our conservative LTV underwriting, there is typically meaningful equity buffer between the loan amount and property value. Default interest accrues at 24% per annum per our standard loan documents.
No. This is an illiquid private fund investment with a 24-month initial lock-up period. There is no secondary market for LP interests outside of extraordinary circumstances. Only invest capital you do not expect to need access to during the fund's investment period.
Operations & Management
The fund is managed by RX Capital LLC, operated by Dylan Koch under the Morning Brew Properties brand. Dylan has been acquiring and renovating distressed properties in Cincinnati since 2017, completing over 300 transactions. The fund is administered by Verivest, with investor relations managed through Agora and legal counsel from The Bauer Firm, LLC.
All reporting, distributions, and documents are managed through Agora, our investor relations platform. Once your investment is accepted, you will receive login credentials to view quarterly statements, download K-1s, and track distributions in real time.
The GP charges a 1.5% annual management fee on LP AUM. The GP also retains 50% of origination points, 50% of excess returns above the 10% LP hurdle, all loan processing fees, and appraisal fees. There are no additional fund-level expenses charged to LP investors beyond what is disclosed in the PPM.
Still have questions?
Review the PPM or reach out — we're happy to schedule a call.
Investment Offering
Invest in RX Capital
Lending Fund I

A Regulation D, Rule 506(c) offering open to verified accredited investors. Complete your investment through our secure Agora investor portal.

How to invest in four steps
01
Review the Documents

Download and read the Private Placement Memorandum and Operating Memorandum from our Documents page. Consult your financial or legal advisor as appropriate.

02
Verify Accredited Investor Status

As a 506(c) offering, we are required to verify all investors meet the SEC's definition of accredited investor. This is handled through our Agora portal using a third-party verification service.

03
Complete Subscription Documents

Once verified, complete the fund subscription agreement, investor questionnaire, and required KYC/AML documentation directly through Agora. All signing is done electronically.

04
Fund Your Investment

Wire your investment to the fund per Agora's instructions. Once funds are received and your subscription is accepted, you begin accruing the 10% preferred return. Quarterly distributions flow to your bank account.

Important Disclosure

This offering is made only to verified accredited investors pursuant to Regulation D, Rule 506(c). Investment involves significant risk including possible loss of principal. Past performance is not indicative of future results.

Documents
Fund Documents &
Disclosures

Access our Private Placement Memorandum, Operating Memorandum, and key fund documents. We require basic contact information to comply with our 506(c) solicitation requirements.

🔒
Access Fund Documents

By accessing these documents you confirm you are an accredited investor or evaluating the offering on behalf of one. Your information is kept confidential.

Your information is kept confidential and used only to comply with our 506(c) solicitation requirements.

Access Granted

Thank you. Please read all materials carefully before investing.

📋
Private Placement Memorandum

Complete offering document with all material information including terms, risks, fees, and legal disclosures.

PDF · ~24 pages
⬇ Download PPM
📊
Operating Memorandum

Detailed overview of fund operations, investment strategy, underwriting criteria, and management team background.

PDF · ~18 pages
⬇ Download OM
📈
Financial Model

Fund financial projections across deployment scenarios including return waterfall, GP/LP splits, and sensitivity analysis.

XLSX · Multiple scenarios
⬇ Download Model
📝
Subscription Agreement

LP subscription documents. Complete and sign through the Agora platform, or download here for review prior to signing.

PDF · Via Agora
⬇ Preview Document
🏛️
Operating Agreement

Fund LLC Operating Agreement governing the relationship between limited partners and the general partner.

PDF · ~40 pages
⬇ Download Agreement
🚀
Ready to Invest?

Complete your investment through our secure Agora portal.

→ Go to Agora Portal