Patch of Land Reviews
Description Patch of Land
Patch of Land aims to solve the problem of slow, inefficient, fragmented and obscure private real estate lending by using the latest technology, data and process efficiency to more accurately assign risk profiles and project viability, while greatly reducing time and cost of loan underwriting for borrowers with real estate projects that are overlooked or rejected by banks and traditional lenders.
Patch of Land is crowdfunding real estate through its P2RE (peer-to-peer) online marketplace offering various typologies of secured real estate debt on assets backed by first position liens and personal guarantees.
The last deal I invested in went into default. It seems to have ultimately been resolved, though I am still waiting to get paid, but the process was painful. These guys totally missed the boat on investor communication. Failed email and voice mail responses and completely left me in the dark.