Now operating in 25 states,
and with over $600M per
month in funding requests the
company is able to offer retail
investors, hedge funds, regional and “community banks the
yields they really want, along
with efficiency in origination.”
The startup that Fritton describes as a “tech and
efficiency company” shares some threads with other
peer-to-peer, online mortgage lending, and crowdfunding sites. These are that real estate fundraisers
bring their projects, which are ultimately financed by
the crowd. It is the execution that stands out.
Fritton highlights that his company is the “first in
market to directly secure fractional investors in real
estate loans.” That means Patch of Land underwrites,
and gives real estate investors and professionals the
funding under the supervision of SVP of Underwriting & Acquisitions Douglas Cochrane. Then Patch of
Land opens up the opportunity to a range of individual
accredited investors and institutional lenders.
Now operating in 25 states, and with over $600M
per month in funding requests the company is able
to offer retail investors, hedge funds, regional and
“community banks the yields they really want, along
with efficiency in origination.” In fact, Jason explains
that this enables these capital sources the freedom
Realty411Guide.com
to participate in deals they could not do directly, while
permitting more common sense underwriting of deals.
Operating under SEC Rule 506(c) of Regulation D,
this connector empowers those with projects to raise
money cost-effectively without all the marketing and
substantial filing expenses of going it alone. All while
delivering the due diligence investors need and crave.
As of September 25th, 2015 Patch of Land had a solid
track record of performance, with no principal or interest
losses.
< THE SECRET SAUCE >
Fritton explains that a great deal of the success has
come from “the privilege to hire experts in all areas,”
to grow the California based Patch of Land team. The
founding and executive team now spans a wealth of
technology expertise, lending professionals with billions
in transactions under their belt, along with an entrepreneurial marketing team with experience in organizations
like Disney. Silicon Valley appears very bullish on investing in ‘The Patch’ too, with a successful, oversubscribed
Series A round of funding topping $23M, achieved in
early 2015.
So far Patch of Land has perhaps been most wellknown for funding single family deals, but Jason tells
us they have recently funded a Ramada flagged hotel,
office, and retail buildings, and are testing moving into
new construction financing.
Whether you’ve got deals that need funding, or capital
that deserves higher yields, Fritton says “give us a try,
and come grow with us !”
More details, statistics on past performance, and online
tools can be found at PatchofLand.com.
PAGE 75 • 2016
reWEALTHmag.com