Peerstreet vs. Patch of land

[Amir Navabpour]

I have money invested in both (investing in notes for slices of their loans). Previously, I noticed alot of discontent among posters on BP about patch of land, but I haven't had any problems (granted I only have one note), and Patch of land has lower LTV's and higher rates than Peerstreet. Wondering, among recent investors in Patch of land, what has been your experience?

[Mark S.]

I have been investing in both. In terms of delinquencies and foreclosures, I have had very good results with PeerStreet. However, lately I have been moving over to POL because the interest rates on PeerStreet have drifted downward compared to POL. The interest rates on PeerStreet have not been high enough to compensate for the risk. Also, there is intense competition for loans on PeerStreet. 

The jury is still out for me on POL delinquencies and foreclosures as my investments are fairly new. No problems yet, although I only started investing with POL in July. It does seem somewhat odd to me that POL loans do not fill up immediately like they do on PeerStreet despite better interest rates on POL loans.