While the platform will still offer investors borrower payment dependent notes (which means 1099s), we’ve taken steps to increase investor confidence and security in our new offering structure. These protections will be available for all projects offered after Monday, June 1, 2015 and makes POL the only provider of fractionalized notes truly secured by the underlying real estate asset.
All our previously funded borrower loans, as well as the investor notes associated with each of those loans, have been transferred into the SPE mentioned above. This allows investors to enjoy the benefits of our new offering structure even for investments made prior to our new offering structure. Look for a notice under your “My Accounts” tab in coming weeks!
All in all, we believe this new product structure will increase the security of our investors’ investments and their confidence in investing on our platform. We’d love to hear your thoughts and answer any questions you might have.
As part of our philosophy on transparency, we are the first real estate crowdfunding portal to release a template of our new offering documents publicly, so that investors may take time to understand the nature of their investment and consult their financial and legal counsel. Please remember that these documents are only a sample template and that we may change and update the document from time to time in our discretion. Investors are always encouraged to read the full documentation on their particular investment prior to investing.
All in all, we believe this new product structure will increase the security of our investors’ investments and their confidence in investing on our platform. We’d love to hear your thoughts and answer any questions you might have by contacting our Customer Service and Investor Representative Team at firstname.lastname@example.org or by calling 888-959-1465 ext. 2. You can also be heard through our new Patch of Land Ideas Portal where you can let us know how we can build a better Patch of Land for you. As always, we appreciate your continued business and look forward to hearing from you.