In 2012 California adopted the Jumpstart Our Business Startup (JOBS) Act. Crowdfunding or peer-to-peer lending initiatives started to appear and spread after that point. This meant more freedom for those who needed or wanted to raise money to purchase or develop properties. Before that, nobody could advertise or seek for private funding, be it from accredited persons or companies, because the practice was banned. If one wants to become an accredited investor, they must have a net worth of $1 million in which their own homes are not included, earn more than $200 thousand per year per person or more than $300 thousand per household. They must apply with their spouse. Kenny Slaught knows that this change makes it possible for borrowers and lenders in California to partake in debt and equity financing. The interest charged for the loans transforms into income, and as such there’s no need for a bank to interfere. Property owners and funders now use the internet as a new place to check out the investment offers, become s, and easily monitor the performance of their financial instruments, on a dashboard.
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