ICYMI: Doing Social Good through Crowdfunding with Patch of Land

November 7, 2016 Chelsea Strong

At Patch of Land we believe in Building Wealth & Growing Communities. For us, this is more than just a catchy slogan, it's a motto that we stand by wholeheartedly. We truly believe the power of crowdfunding can, and should, be used for doing social good throughout the world. However, we also understand that this new phenomenon of raising capital is still in its infant stages and in order to walk, you have to crawl first. So while our ultimate goal is to crowdfund projects on a worldwide scale, we've begun by setting our sites on a nationwide level, targeting neighborhoods in our own backyard where there are still plenty of distressed communities in dire need of revitalization.

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Overall, our platform focuses on alternative lending for debt-based real estate crowdfunding projects because the neighborhoods we penetrate are able to benefit from home improvements.  We've seen how rebuilding and investing in our own communities can result in many positive outcomes, such as increased property values and a stimulated local economy. In fact, we've paired up with many local developers in various states who are able to employ teams of professional laborers, helping to put Americans to work. In essence, we operate with the underlying philosophy of having your friends, family, and neighbors invest in themselves. This mindset creates positive results for those who are directly involved in the project, as well as those who are indirectly involved within the community and surrounding areas. Patch of Land's efforts to work with developers across the country have led us to rehabilitation projects in storm-damaged areas of Florida, New Jersey, and New Orleans.

One of our favorite stories is that of a developer from Georgia who specializes in working with Veterans Affairs to resell high opportunity properties to veterans in need of help. Deborah Smith received funding through Patch of Land to purchase and rehab her property, which she planned to turn around and sell through a Veteran Administration loan program. She was funded by accredited investors on the Patch of Land platform and was able to complete her loan with us. Real life stories like this show how synergies can be found between developers doing rehabs, non-profit or government agencies working with programs and grants, and investors utilizing crowdfunding as the means to make a real impact on society.

This is the trend, this is the future. Building one’s wealth and helping the community are not mutually exclusive. At Patch of Land we reiterate this message again and again, to show the world how they can complement each other seamlessly. Investing helps us achieve financial goals, and investing in a project that has such a huge community impact, that creates jobs and raises property values amongst other things, can and should be the future of real estate crowdfunding.

What other ways do you think crowdfunding can be used to do social good?  Please leave a comment below and express your opinion.

 

This entry was originally published on December 23, 2014.

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