INVESTOR REVIEW
Don’t leave your real estate investment financing to chance .
LENDERS EDITION
Patch of Land
P atch of Land is a marketplace lender that originates residential and commercial real estate investment loans to meet the growing demand for alternative lending options while supporting its innovative crowdfunding platform. In addition to offering mortgages on non-owned occupied residential and commercial properties, the company allows individual investors the opportunity to achieve attractive yields by purchasing fractional ownership of their loans with a $5,000 investment - or even as little as $1,000 using their automated investing feature, AutoInvest. Real estate lending in the U.S. has traditionally been a slow, inefficient and difficult process with limited opportunities for owners of investment properties to access capital to grow their real estate portfolios. That began to change in the wake of the housing crisis as specialty lenders emerged to meet the needs of real estate investors who sought opportunities to invest in and rebuild the nation’s real estate market post- crash. The alternative-lending industry has transitioned from the days of innovators testing the waters with new technology into a maturing industry accepted by Main Street borrowers and Wall Street investors alike. Patch of Land, which began providing loans in 2013, is dif- ferent from traditional banks and nonbank mortgage lenders in that it uses an advanced online platform and underwriting algorithm to facilitate the lending process. Its online platform provides efficiencies, speed, 24/7 access, transparency and lower costs than traditional “hard money” lenders that typ- ically operate within limited geographies and may not have the resources to leverage technology. The company was co-founded by Jason Fritton, a successful e-commerce entrepreneur, and his brother, Brian. The two had a passion for wanting to help repair communities devastated by
the housing crash. Jason Fritton was an early supporter of crowdfunding capital formation exemptions that would later become a part of the JOBS Act, a 2012 law that gave way to innovative real estate finance organizations. His brother had a vision for how technology could change the real estate market, and to- gether the brothers formed what would become Patch of Land. Patch of Land funds real estate loans based largely on the asset value of the property, therefore experience is more important than a borrower’s FICO score. The benefit of going beyond FICO is that
JASON FRITTON CEO
Fund your first loan in as little as 7 days with Patch of Land.
borrowers with limited credit or a ding to their credit history can get approved for an investment property loan often unavailable from traditional lenders. A majority of Patch of Land’s loans are for single-family residential properties. They also have lending programs available for multifamily and commercial properties, as well as new construction and rental loans. Since Patch of Land underwrites and funds their own loans, they are typically able to offer borrowers quick decisions on loan applications and are frequently able to fund a loan in as little as seven days. Here’s a quick look at what the Patch of Land has achieved through Q2 2018: • Nearly $600 million in originations • 1,300+ loans originated • $150+ million earned by crowd investors with a realized
Single Family, Multi-Family, Rental, & Commercial No IncomeVerification | LeverageUpto85% | ConstructionUpto100% | Rates from7.5%
888-596-5691 | patchofland.com/thinkrealty Call or visit us online today to learn more.
rate of return of 10.84% • Able to lend 44 states •
INVESTOR REVIEW :: 9
©Patch of Land, Inc is the originatorand lenderof record. NMLS#1286539; CFLLicense 60DBO-45420; Oregon Mortgage LenderLicense #5384. We currently lend in all states except for the following:AZ, MN, NV, SD, UT. Origination fees and other fees mayapply.This is not an offer to lend.Anyfinancing will be subject to a credit evaluation, approval of the subject property, and other restrictions. 7 day funding windowbegins once all due diligence documents are submitted and requires cleartitle.Terms and conditions are subject to change.To qualify, a borrowermust meet ourunderwriting requirements. Not all borrowers receive the lowest rate.To qualify for the lowest rate,you must meet certain conditions.Youractual rate will depend on avarietyof factors. Rates andTerms are subject to change at anytime without notice.
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