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Patch of Land said the addition of commercial real estate gives investors greater diversification, provides the opportunity for “consistently cash-flowing returns” and serves as a “complement” to the platform’s shorter-term residential real estate investment opportunities. Total loans funded: $40,148, 500.
In 2014, things changed significantly for these investors; historically if they didn’t have $40,000 for a down payment on an investment property loan or $4 million to spend on commercial property development, they would be out of luck. Returns and distributions are specific to each listing, as is the term of each investment.
.” Pictured (left to right): Patch of Land’s AdaPia d’Errico (CMO) and Brian Fritton (CTO and co-founder) demonstrating the company’s platform at FinovateFall 2014 in New York. ” In the two years since its launch, Patch of Land has funded more than 200 projects with an average blended rate of return of 12%. .
Launched in 2013, the California-based company has thus far returned $40 million in interest and principal to its 80,000 members who have invested in 350 properties. The return is 2X the $20 million figure the company reported in December 2015.
Patch of Land provides a marketplace and platform for accredited and institutional investors looking for high-yielding, short-term asset-backed investments, and borrowers looking for alternative sources of funding.
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