All Forum Posts by: AdaPia DErrico

@Mehran K. for some reason the post wouldn't take the hyperlink to your name, but I wanted to reiterate what I said above - thank you for taking the time to come onto the thread and provide clarification.

@Account Closed

@Mehran Kamari thanks for the great clarification! I hope I can clarify further because we are a bit unique in that we are one of the new Real Estate Crowdfunding firms and thanks to the JOBS Act legislation, we are able to solicit to accredited investors.

We pre-fund deals using internal capital and then syndicate it back out to our investors.

This particular project is being run by an accomplished RE investor and RE attorney based out of New Jersey for a rehab and flip. It's not a distressed property and in fact the developer is seeing great interest from potential purchasers even though the rehab isn't yet finished. Since we have already funded this project, and the developer has already closed on the property and started rehab work, we are just selling out the remaining 10% that has not already been purchased by our investors.

Anyone that is looking to invest will start earning their interest as soon as their funds clear escrow (generally 2-3 days). We do all the management and distribution work on the syndication and there's no fee to investors for participating. Please PM me if you have any questions at all and thanks!

Thanks @Joe Fairless ! Patch of Land is a great platform, but I'm biased because I work here. But honestly, we have incredible technology and processes around what we do and we're looking to create efficiencies in the markets, especially hard money lending and bridge loans. Our deals are well subscribed and close quickly. I hope you've had a chance to view them on the site.

Only 10% left of a loan syndication earning interest @ 13% on a $421,000 Fix and Flip. First trust lien and two personal guarantees. For accredited investors. Interest paid monthly on a 12 month term. Who wants it before it’s gone?

This is an ongoing rehab project that has already been pre-funded using internal funds so you start earning interest immediately. The developer has successfully repaid a loan previously with us and is a successful real estate attorney and investor with a 5 attorney firm. He also has a very strong credit score.

The property is: 262 Claremont Ave, Montclair NJ 07042

https://patchofland.com/investments/upscale-full-rehab-in-growing-montclair-nj.html

This is a full SFR rehab in a quickly growing local market and although the loan is written for a 12 month term the developer expects to exit within 6 to 8 months. The developer lives in the area and has also sold a similar but slightly smaller property in the neighborhood for $635,000.

• Total Loan: $421,000 with 10% remaining to be filled
• 13% Loan - managed by Patch of Land, interest paid monthly, balloon payment at maturity
• 70% ARV- although based on new updates it drops to 62%
• First Position Lien
• 2 Personal Guarantees on the loan
• Borrower with strong credit, extensive experience and high income.

If interested, send me a PM and I’ll get you the full note, appraisals and other due diligence documents.

OMG. I learned so much from this podcast. Actually, I learn so much from all your podcasts. @Joshua Dorkin you guys are hilarious and I love the way you interact.

I just started working in the real estate industry, so I need to learn FAST. I listen to your podcasts during my drive to/from work. I hope that one day SOON I can be on it having laughs with you two!

New loan syndication opportunity for accredited investors at 12% APR with first position lien and personal guarantee. 12 month term with expected hold of 6 months and there is already an offer on the property. Interest paid monthly and only a 48% ARV!

• 2 Tornquist Ct. Franklin Park NJ: $550,000 loan - fractional ownership available for as little as $5000, we manage due diligence, collections, payouts, registration and legal.

• High end, niche community just 5 miles outside of Princeton, NJ

• Third party appraisal at $1,153,000 but we have a current offer at $1.3M from a neighbor.

• The project has already been funded by us and is ongoing. Investors earn immediate interest.

• Due diligence documents and note purchase agreement available at: https://patchofland.com/investments/million-dollar-remodel.html

This is a refinance and rehab opportunity for a very upscale property in Somerset, New Jersey. The loan term is 12 months with an annual percentage rate of 12% to our investors, however we expect a term of 6 months for the project. Patch of Land has secured a personal guarantee from the borrower as well as a first position lien on title.

@Brian Dwyer welcome to BP! There are some really great discussions and forums centered around crowdfunding here on BP. It's an education and a half.

@Mark Robertson welcome to BP! Glad to see you're so active with crowdfunding. Have you considered Patch of Land (shameless self plug)? But seriously, we offer zero fees to investors and we're quite focused on high yield, short term debt deals. We are about to put 4 new deals on the site. Let me know if I can answer any questions!

@Carly Staehlin welcome to BP! Nice to see someone from BC :) though I now live in LA. Let me know if I can help you at all with the crowdfunding part of your info search. There are some really good discussions here on BP about it as well, which I'm sure you've come across already.

@Michael Pham spot on! I like to think of crowdfunding/crowdsourcing as your personal REIT - without the fees, with full disclosure and with full visibility and choice as to what you are investing in.