Although still new, crowdfunding created over 150 real estate companies over the past years. In Southern California, 20% of the population is an accredited investor. The number is lower in other regions, equaling 7%. This was doable thanks to sites like CrowdEngine, RealtyShares, and CrowdForce, which made it easy to ask for public funding. In fact, some gathered 90% of equity requirement through donations from the community. Furthermore, owners can manage and view their portfolios easier by using data analytics apps like Rentlytics. Kenny Slaught, having worked in real estate for 35 years, believes that California is a strong presence in the industry. Over $53 was gathered through numerous properties in areas like Sacramento, San Francisco, and the Bay Area. The profit came as a result from the use of modern tools to pool capital.
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