Patch of Land

15000 Ventura Blvd., Suite 300, 91403, Sherman Oaks, United States
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1.80
Based on 20 Reviews

5

20.00%

4

0.00%

3

0.00%

2

0.00%

1

80.00%
About Patch of Land

Patch of Land is a leading private money lender offering real estate investors and entrepreneurs fast and reliable access to short and long-term loans for single-family, multifamily, commercial, ground-up, and long-term rental properties. The company also operates an online real estate crowdfunding portal providing accredited investors the opportunity to diversify their portfolio with fractional ownership of high-yield, short-term investments across the country.

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American Acquisitions
GB

Extremely Rude Loan Officer I called the Houston office to get more information on a loan for a single family investment, the woman who took my call (loan officer) was extremely rude and condescending. She was pushing a loan that I was not requesting and claimed that either way they did not need anyones business in todays hot market. NOT RECOMMENDED

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Tony George
GB

Well you guys came through and… Well you guys came through and delivered. Customer service was very good from loan processing team, to appraiser and up through closing agent. The only real down-side was the actual start to close time, was much longer than we were initially told by agent.... Looking forward to continuous business with Patch of Land! Thanks

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Kebreab Sameul
GB

Communication was great from the start… Communication was great from the start with Mark Himmel and then with Dong the loan processor, they were always available. The only drawbacks was I felt like I was being required to submit too many non required documents to words the end of the process, but part of it has to do with my contractors not able to give me scope of work in a timely manner. However the end result was great and saved more than a $1000 in closing costs by closing with Patch of land. Yes I highly recommend them.

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Deborah G
GB

Zero stars Zero stars. I invested in 2 properties, both went into default. For one property, I finally recovered my investment with interest, but it took 3 years rather than the original maturity term of 1 year. The other property has been in default for the past 2 years with no foreseeable resolution. My crowdfunding investments with a different company have not had these problems. Learn from my mistake and invest your money elsewhere.

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Nancy
GB

One star is an gross overstatement One star is an gross overstatement. I have made approximately 24 investments with Patch of Land (POL) since February 2017. Initially, POL performed as offered. Then the defaults began and continued to increase until they shut down. Two of my loans defaulting were explained. A shopping center in Elk City, OK not only couldn't get permits and the city wanted the property razed. Did anyone do due diligence? Another, multiple ski resort townhomes in Vermont was explained as deed being signed over to wrong person and now they can't get the property returned. Incompetence? POL has sold their assets, not the bad loans, and rebranded into a new company Patch Lending is their new name. Same leadership, same business, different name. How could one company make so many bad loans in such a red-hot market? POL investors are now being offered a paltry sum, which only addresses a few of the defaults, to sign a waiver of all rights and indeminf POL for all known and unknown malfeasances. They have promised to shut down their portal by the end of 2022 which hasn't had a posting since 2021. The person handling the buy-outs claims he was hired just to get get rid of the investors and has no knowledge of anything prior to 2021.

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