Renee Healion
Elite Member
- Joined
- Feb 21, 2004
- Professional Status
- Certified Residential Appraiser
- State
- Connecticut
Has anyone heard of this approach to lending or the company? I came across it researching a recently sold property's history. I remembered doing an appraisal of it for a hard money lender a few years back but I did not think anything came of it. Several months later, a loan from this outfit was recorded. Strange name, so I looked them up. This is from their site:
Patch of Land is a Peer-to-Real-Estate (P2RE ®) lending marketplace that matches accredited and institutional investors seeking high-yield, short-term, asset-collateralized investments to borrowers seeking more timely and consistent sources of funding for rehabbing properties across America.
Patch of Land’s goal is to solve the problem of inefficient, fragmented, and opaque real estate private lending by using technology and data-driven processes to create transparency and to efficiently underwrite projects for borrowers with real estate projects that are routinely bypassed by traditional lenders.
https://patchofland.com/
(btw, they say they use appraisals)
Patch of Land is a Peer-to-Real-Estate (P2RE ®) lending marketplace that matches accredited and institutional investors seeking high-yield, short-term, asset-collateralized investments to borrowers seeking more timely and consistent sources of funding for rehabbing properties across America.
Patch of Land’s goal is to solve the problem of inefficient, fragmented, and opaque real estate private lending by using technology and data-driven processes to create transparency and to efficiently underwrite projects for borrowers with real estate projects that are routinely bypassed by traditional lenders.
https://patchofland.com/
(btw, they say they use appraisals)
