#373: Patch of Land Working To Rebuild America’s Communities
Read the full GoodCrowdinfo article and watch the interview here: http://bit.ly/1Kq6keQ. Subscribe to this podcast on iTunes by clicking here: http://bit.ly/ymotwitunes or on Stitcher by clicking here: http://bit.ly/ymotwstitcher. Patch of Land, one of our sponsors, is playing a key role in rebuilding the country following the the economic earthquake that hit the country in 2008 with its epicenter in the real estate market. AdaPia d’Errico, the firm’s chief marketing officer, explains, “Private lending is known as ‘hard money’ lending; it carries a negative stigma, and for good reason. Predatory pricing, no oversight, and basically no protection for borrowers and even for investors meant that these loans and this type of lending have been extremely risky.” She adds, “And it was the only kind of lending available to real estate professionals following the financial crisis, because banks could not and would not lend on what they deemed to be risky real estate transactions – property prices were the lowest EVER, and no one would take the risk of lending to people who were trying to rebuild America after the crash.” “Patch of Land is solving the problem of access to capital for real estate professionals who are rebuilding and revitalizing their communities. By creating a marketplace built around transparency, trust and standardized underwriting, we’ve created a more open, accessible and simplified way for funding transactions to occur on what has historically been an opaque lending industry. We pride ourselves on working with individuals who are improving properties, rehabbing homes, and contributing to economic growth in their areas,” she continues. AdaPia is excited about the future that Patch of Land will help to create. Read the full GoodCrowdinfo article and watch the interview here: http://bit.ly/1Kq6keQ. Please consider whether a friend or colleague might benefit from this piece and, if so, share it.