Our Story
Free State Capital was built by investors, for investors.
After years of flipping homes, managing rental portfolios, navigating capital challenges, and closing hundreds of real estate deals — we recognized a common problem: traditional lenders simply didn’t get it. So we created a better option. Free State Capital provides private, short-term real estate loans to qualified investors who need speed, flexibility, and a relationship-based approach. Since launch, we’ve funded millions in Maryland and surrounding areas, helping investors access capital with less friction and more confidence. We bring deep experience on both sides of the closing table — as lenders, borrowers, and operators — and that perspective is what makes all the difference.
Who We Serve
We fund short-term, asset-backed loans for:
- Fix and flip projects
- Rental property repositioning
- Bridge and cash-out refinance loans
- Rehab loans with construction escrows
Whether you’re scaling your portfolio or repositioning a single asset, we’re here to support you with fast decisions, fair terms, and no red tape.
Meet the Founders
Alexander Cruz – Co-Founder
Alexander brings over a decade of hands-on experience in residential redevelopment and real estate investing. As co-founder of CR of Maryland, he’s led the acquisition, renovation, and resale of hundreds of properties across Baltimore and surrounding areas. At Free State Capital, he oversees underwriting, borrower relationships, and loan operations. His deep understanding of deal flow, risk, and local market dynamics brings unmatched perspective to every loan we fund.
Yvonne Deardorff – Co-Founder
Yvonne is a seasoned attorney, investor, and business owner with decades of experience in Maryland real estate. In addition to her role as co-owner of CR of Maryland, she is also the founder and principal of a prominent title company that has closed thousands of transactions. Yvonne leads capital strategy and lender relations at Free State Capital. Her legal and operational expertise ensures that both borrower and lender interests are protected through every phase of the deal.
Together, Yvonne and Alexander form a unique partnership — combining legal precision, investment experience, and operational strength to create a lending platform that real estate professionals trust.
Let’s Work Together
Whether you’re an investor looking for reliable capital or a private lender seeking secure, fixed-income returns, Free State Capital is here to help you grow your business and your wealth.