Kenny Slaught And California’s JOBS Act’s Economic Boost
New intuitive software and mobile applications as noted by Kenny Slaught, give investors and builders a greater selection of lending and borrowing opportunities across a variety of real estate asset classes and geographies. California’s crowdfunding campaigns arose after the adoption of the Jumpstart Our Business Startup (JOBS) Act in 2012, which greatly democratized the ways, in which sponsors raise funds for real estate acquisitions and development. The new regulation permits the previously banned practice of promoting or openly soliciting private funding from accredited people and firms. Anyone with a net worth exceeding $1,000,000, not including ownership of their personal residences, or with an annual income of $200,000 or a home with $300,000 per year, if filed jointly with a spouse, can become an accredited investor. Kenny Slaught says that the amendments gave the go ahead to individual borrowers and lenders to engage in debt and equity financing, where loans generate income in the form of interest, but without an official financial institution acting as an intermediary. The online marketplace has generated a new avenue for property owners and funders to browse new investment offerings, perform due diligence, access dashboards to track financial performance of assets.