All Forum Posts by: Mark S.

Did anyone else receive an email from Patch of Land asking for consent to sell any underlying notes that are 120+ days past due and for which they don’t expect to return to performing status? Apparently there was a defect in the loan agreements.  Patch is permitted to write down, write-off and sell underlying loans, but due to a defect in the Borrower Payment Dependent Notes Indenture (the “Indenture”) under which Patch issued Borrower Payment Dependent Notes (“BPDNs”) to you and other clients, we need your consent to modify the Indenture and complete the sale process.

I'm wondering if others are thinking of signing off on the consent. Patch says they will not sell the note unless they feel they cannot secure more value through the foreclosure process because of legal costs, etc. 

I found that Patch of Land offers much better interest rates than PeerStreet with similar late/default rates. The rates at PeerStreet - around 7% are not enough to compensate me for the risk I'm taking. However, the loan volume (amount of loans available to invest in) at Patch of Land seems to have fallen off a cliff over the last 2 months. Something seems up with their business or technology which is now making me nervous. Has anyone else noticed decreased available investments at Patch of Land? Perhaps it is a glitch that impacts my account only.

I have been investing in both. In terms of delinquencies and foreclosures, I have had very good results with PeerStreet. However, lately I have been moving over to POL because the interest rates on PeerStreet have drifted downward compared to POL. The interest rates on PeerStreet have not been high enough to compensate for the risk. Also, there is intense competition for loans on PeerStreet. 

The jury is still out for me on POL delinquencies and foreclosures as my investments are fairly new. No problems yet, although I only started investing with POL in July. It does seem somewhat odd to me that POL loans do not fill up immediately like they do on PeerStreet despite better interest rates on POL loans. 

Garland is a fairly large area. The more affluent area is North Garland. Southern Garland is older and less affluent, although there are some nice established neighborhoods in south and mid-Garland as well. I have a single family rental in Garland that does pretty well. I don't have experience in multifamily but would like to invest in multifamily in the future. 

For those of you in Dallas or Fort Worth (DFW) that used OneProp in the past, what is your opinion of Property Frameworks so far? Property Frameworks recently bought OneProp.

Hello. I'm looking for a realtor in the Sherman / Denison , Texas area. Does anyone have any recommendations? Thanks!

I received another post card today from someone wanting to buy my home. That's 3 in as many months. 

Does anyone have a recommendation for an Arlington, Texas area investor-friendly real estate agent? I'm looking for assistance with selling my single family rental out there. I'm focusing on areas of the Dallas / Fort Worth (DFW) metroplex closer to my personal residence in Dallas so would like to sell. Thanks!

@Jon Klaus I paid $95,000.  

@Mike E. I made several mistakes on my first deal that I'm not proud of but have learned from them. I agree with some other posters that you may do better on the home insurance by shopping around (even in the flood zone). For example, I tried National Real Estate Insurance Group after hearing about them on Biggerpockets. They were $500 less than the best I could find through my agent, plus they were replacement cost instead of actual cash value (i.e., better coverage).