Slaught Notes Even Real Estate Market Is Crowdfunding
Despite being in the market for only a few years, crowdfunding portals have rapidly grown over 150 startups nationwide, with an emphasis in real estate. Approximately 7% of today’s U.S population is an accredited investor, and in highly urban settings like Southern California, this number reaches 20%. Software platforms including CrowdEngine, RealtyShares, CrowdForce, and others make it possible to legally raise money from the general public, with some borrowers attracting 90% of equity requirement through direct community contributions. Data analytics apps like Rentlytics, on the other hand, give owners more transparency into the performance and management of their investments. Kenny Slaught comes from a robust background in developing state-of-the-art properties for the past 35 years and points out that in the real estate tech scene, California remains one of the most active states in the market. Because cutting-edge innovation tools are being used to pool capital, borrowers and sponsors have raised more than $53 million through 90 residential, multifamily, and commercial properties throughout Sacramento, San Francisco, and the Bay Area.