Type:
Real Estate
Focus:
Debt

Overall:

Platform Provided Due Diligence:

Platform Fees:

Quality of Deals:

Website - Patch of Land

Fees - 1 point of interest & platform keeps origination fee

Phone - 888-959-1465

SEC REG - USES 506(c) Open Investments can be advertised and publicly discussed

Patch of Land is a crowd funding platform for real estate using a peer-to-peer online system providing opportunities in secure real estate debt. The real estate assets are backed with liens and guarantees. On the investing side, they look for alternative fixed-income properties, while on the borrowing side they help borrowers looking for alternative financing methods.

They underwrite loans and offer them to investors through the Jobs Act exemptions 506(c). At this time they are working with investors who are:

- Accredited.

- International.

- Institutional.

The company was founded by Jason Fritton, an e-commerce businessman. His goal was to help communities that had been hurt by the real estate crash. He worked for structural changes in the business to prevent it from happening again, and was one of the first advocates for exemptions that were included in the JOBS Act that passed in 2012. The exemptions allowed crowdfunding opportunities for investors that never existed before.

Teaming up with his brother Brian, a software engineer and Carlo Tabibi, a real estate developer, they worked toward creating a real estate lending marketplace that was efficient and effective. In September of 2013, Patch of Land raised $1.2 million through a Los Angeles-based private investment company.

If you do not agree with the Patch of Land review, please leave a comment below. 

 

Due Diligence & Discussions

Share your experience. Rate and comment!

hussein jaafar

Mar 01, 2017

pol was my first platform in crowdfunding , all was fine untel early 2016 i knew somthing was wrong when thier ceo steeped down i invested a total of 18 deals with them 3 are in forcloser and   1 has been given extension i onle have 5 deals left 3 in forclosure 1 extension and 1 paing on time i have not invested any more with them since the 3 in defualt , all 3 stopped paying same month they move real slow and really dont have answers

anna ca

Feb 24, 2017

POL was my first debt CF platform. I like that they prefund their deals, which means your money starts earning interests right away. I invested in only one deal to test the water and it finally got paid off in January. During this period, the loan was late for a good 1/3 of the time while POL communication was almost non-existent. I had to contact them to get any updates. After my feedback, they said they would provide monthly communications; however, it was not consistent.

Apparently POL had a huge layoff back in July 2016 (3 key executives: CFO, Head of Underwriting, Chief Legal Counsel and some junior staff). This doesn't give me much confidence.

James Bobbett

Feb 19, 2017

I have made 4 investments on PoL. 3 have completed with no issues and IRRs actually a fraction of a % higher than advertised, vs say Realty Shares where my experience has been debt IRRs fractionally below advertised even when things work out properly.

The fourth sponsor seems to be struggling, with several late payments and PoL preparing to start foreclosure process. We'll see how it goes. 

I have been pretty happy with them and may use them again in the future. My investments always got updates.

George Dai

Jan 31, 2017

PatchOfLand used to be my only debt investment platform. Unfortunately, two out of my six investments went into default. I stopped investing with them after I had my first default.

James Mc Ree

Jan 30, 2017

I have been a PoL customer for about 9 months in 4 investments.  All have paid on time with no issues.

I had been receiving regular monthly progress updates until Aug 2015.  That stopped completely and became no communications whatsoever.  I provided PoL some feedback that some updates would be appreciated, if only to know the project is progressing as expected.  The PoL response was they will only provide updates if there is an adverse development, but then I did receive a couple of updates.

No real complaints, but I would feel more comfortable knowing more about the state of my investments beyond "Current."

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Patch of Land Patch of Land
Rated 2.3/5 based on 21 customer reviews

Website - Patch of Land

Fees - 1 point of interest & platform keeps origination fee

Phone - 888-959-1465

SEC REG - USES 506(c) Open Investments can be advertised and publicly discussed

Patch of Land is a crowd funding platform for real estate using a peer-to-peer online system providing opportunities in secure real estate debt. The real estate assets are backed with liens and guarantees. On the investing side, they look for alternative fixed-income properties, while on the borrowing side they help borrowers looking for alternative financing methods.

They underwrite loans and offer them to investors through the Jobs Act exemptions 506(c). At this time they are working with investors who are:

- Accredited.

- International.

- Institutional.

The company was founded by Jason Fritton, an e-commerce businessman. His goal was to help communities that had been hurt by the real estate crash. He worked for structural changes in the business to prevent it from happening again, and was one of the first advocates for exemptions that were included in the JOBS Act that passed in 2012. The exemptions allowed crowdfunding opportunities for investors that never existed before.

Teaming up with his brother Brian, a software engineer and Carlo Tabibi, a real estate developer, they worked toward creating a real estate lending marketplace that was efficient and effective. In September of 2013, Patch of Land raised $1.2 million through a Los Angeles-based private investment company.

If you do not agree with the Patch of Land review, please leave a comment below.