Crowdfund offers loan for Ramada Hotel, but investors are vetted, says Nick Labadie, Rose Law Group Senior Planner/Project Manager

Patch-Of-Land-Logo-300x233Patch of Land, a crowdfunding platform that brings together borrowers and lenders through an online interface, announces its largest loan offering to date: The Ramada Hotel located on the historic Main Street of America, Route 66. This investment offering expands Patch of Land’s nationwide reach into Arizona. The investment offering is listed at $3.2M with an 18-month loan term at 10% APR and 47% LTV.

Information from GlobeSt

Comments from Nick Labadie, Rose Law Group Senior Planner/Project Manager

“It’s exciting to see technology and new platforms for real estate investment emerging, but thanks to a serious lag in federal regulations regarding crowdfunding, sites like Patch of Land can only allow accredited investors to participate. This means you have to earn $200k individually or $300k as a couple or be worth $1M not including your home. That puts it in the realm of folks who would probably be able to find a way to invest without these sites.

“However, it’s not all bad; being up and running for accredited investors now, means that when the regulations finally come down the line to allow non-accredited investors to participate, sites like this will have the experience and foundation to be ready for the big influx of investors.”

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

August 2015
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31