California adopted the JOBS (Jumpstart Our Business Startup) Act that allows crowdfunding (or peer-to-peer) lending opportunities. Those needing sponsors to buy or develop properties now have more options, as before this point it was illegal to advertise or publicly ask for funds from accredited parties. Anyone with a net worth of at least $1 million, not counting their own residence, or who earns alone $200 000 per year, or $300 000 as household (when filing with a partner), can become an accredited investor. Kenny Slaught underlines that now it’s easier for borrowers and lenders to participate in financing projects, without a bank acting as a middle-man. Now, the interest becomes income, and the online world allows borrowers and lenders to see how their assets perform, find new investment opportunities, and perform due diligence.

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