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.

Stay away Stay away, it's like a bite and switch. Have started investing in 2016. First of the few investments paid off in a timely fashion. Then the service and commitment went downhill. I have two properties currently unpaid. In one of the properties, the borrower is unable to find refinancing. Come on!! this is the hot seller's market and POL is unable to foreclose and sell this property. in another one, the borrower is involved in a fraud case and POL says as per the master agreement the older loans would be shut down paying ZERO. Do we have a legal recourse here? Maybe a class action suit?

Losing $10k on Patch of Land - STAY AWAY!!! I invested in 7 properties with POL dating back to Sept 2019. 5 were paid back and went fine, but I currently have two of them that are 9 months past expiration and have NO idea what is going on with them because they won't respond to my inquiries. One is in foreclosure and there hasn't been an update since June (4+ months) and the other says 'Loan Current' even though the last interest payment was 4 months ago and the loan is 9 months past maturity. I invested a total of $35k with POL, have received $2K in interest and, at this point, believe I will be losing close to $10k in the two deals I cannot get updates on. My experience with Fundrise has been excellent - I'd strongly recommend going there with your money! My last name is Arpke if anyone from POL wants to reach out and help me resolve so I can update my review...

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.

Borrowers beware!! Shady operation Joe the loan officer reached out to Me and we discussed my situation. I have 4 properties that I kept informing him were around $50k each for a total value of $200k. All rented and cash flowing 20%+. (Not just on paper like these other “borrowers” Who continue to default on this shady lender, but in reality). I have a 780 credit score and a long track record in the flipping, rental and overall RE business. Joe mentioned that “POL wants my business” and based on my Credit, my track record, and the underlying fact that i own a business which is a property management company with 5+ employees, over $1 AUM, Including our own assets, I could get all the funding I need as long as I’m under 85% LTV. They took $2200 for initial fees and disappeared, only to show up one night in my inbox at 11:30 pm after I bombarded them with emails Trying to get simple answers: “Hi, sorry we tried everything but can’t fund your loan” Almost comical, if it wasn’t for the complete waste of time, credit inquiry and a $2200 loss. Hey Joe, unlike you, I am not desperate to close a deal. I have a 780 credit score. I have about half a million $$ in assets funded outright by my own equity. I have a long track record of successfully entering/exiting real estate over the last 4 years with substantial gains and I have a Business finance degree. They are looking to earn revenue by collecting initial fees and then they disappear. Joke of a company. Joe is a joke of a loan officer and I’m gonna go out on a limb Here and assume He and the CEO are the same exact person. Congrats you played yourselves