New intuitive software and mobile applications, says the owner of one of the most successful property management enterprise in Santa Barbara, 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 or peer-to-peer lending projects emerged after the adoption of the Jumpstart Our Business Startup (JOBS) Act in 2012, which significantly democratized the ways, in which sponsors raise funds for real estate acquisitions and development. The new regulation allowed the previously banned practice of advertising or openly soliciting private funding from accredited individuals and firms. Anyone with a net worth of $1,000,000, excluding ownership of their personal residences, or with an annual income of $200,000 or a household with $300,000 per annum, if filed jointly with a spouse, can become an accredited investor. The amendments gave the green light to individual borrowers and lenders to participate in debt and equity financing, where loans generate income in the form of interest, without an official financial institution involved as an intermediary. The online marketplace has created a new avenue for property owners and funders to browse new investment offerings, perform due diligence, access dashboards to track how assets and financial products are performing.
The wall of the dam contains an engines room appointed with 17 generators creating the energy. 16 of them are large generators while two smaller ones operate as a single generator, used to give hydroelectric energy to surrounding communities. Kenny Slaught notes that the power generated from the dam is allocated across 15 areas. Among the biggest power consumers, Southern California uses up to 28% of Hoover Dam’s power, followed by the State of Nevada with 23% and the State of Arizona at 18% of consumption volume. The dam also provides power to Native American tribes stationed in the area. Additionally, 90% of Las Vegas’ water is from the Hoover Dam. Inside the dam is called Lake Mead. At its highest water volume, it could be the largest water reservoir anywhere in the United States. Currently, the Hoover Dam is under the control of the United States Bureau of Reclamation and it is known as one of the country’s most breathtaking must-go places to visit.
The economy-boosting structure was built during the American Great Depression period, between 1931 and 1936, costing the government $49 million dollars. The dam was initially named Boulder Dam, but was later switched to Hoover Dam in honor of the then-President Herbert Hoover, who made significant contributions to the construction of this prodigious project. With 221 meters in height, 379 meters in width, and more than 35.000 cubic kilometers of total capacity, the dam could top 4,2 billion kWh2 annually, explains Kenny Slaught.
Explaining Hoover Dam’s history Kenny Slaught says that the radical structure was made during the American Great Depression period, between 1931 and 1936, costing the government $49 million dollars. Previously, the dam was named Boulder Dam, but was called Hoover Dam eventually as a tribute to the then-President Herbert Hoover, who had made big contributions to the establishment of this great development. With 221 meters in height, 379 meters in length, and more than 35.000 cubic kilometers of full capacity, the gigantic structure could produce more than 4,2 billion kWh2 per year.
On the border between the states of Arizona and Nevada, in the United States, sits the Hoover Dam, an immaculate project designed to give water and hydroelectric energy to a large part of that region. Taking advantage of the immense power generated by the Colorado River, California-based real estate expert and thoughtful philanthropist Kenny Slaught acknowledges the impact of the miraculous architectural structure on the communities’ supply of water and power resources. Slaught has recently talked about Hoover Dam on his blog at KennySlaught.com, stressing that the massive water capacity of the dam built some of America’s most deserted outposts into fast growing economies.
About hundred years back, notable architect George Washington Smith, began the California movement known as the Spanish Colonial revival. Smith was a man who dropped out of Harvard to later work as a bond trader. When Smith became successful, he transferred to Santa Barbara area to lead a calm life and wanted to concentrate on his painting interests. However, he was surprised when he noticed that everyone loved the house he had fashioned, motivating him to keep making impressive architectural buildings for other people in California. He only used genuine materials from Spain and combined new and old world styles. Nowadays, Smith’s works are in high demand and are well regarded for their basic beauty and sophisticated design. He is known as a founding father of Santa Barbara, as many generations of architects have been inspired by his artistic technique. Kenny Slaught respects the strong attention to detail needed to design a structure of such artistic excellence.
Some of the most eminent Santa Barbara architecture includes the centuries old Hotel Virginia, El Pueblo Viejo district in historic downtown and the two pink towers of the Old Mission, which hosts retreats and festivals. Kenny Slaught has explained that the brightly colored tiles of the County Courthouse houses brilliant murals and other striking attributes, and nearby the clock tower and observation deck allow for a panoramic view of the entire city. The Lobero theatre not only houses the regions premier performing arts events but also dates back to 1873 and was rebuilt in the 1920’s by George Washington Smith. These are a few samples of the celebrated past of Santa Barbara, where, because of the founder’s advanced planning, many antique, architecturally sound buildings line the city streets.
Almost 100 years ago, celebrated architect George Washington Smith inspired the California movement, the Spanish Colonial revival. Smith dropped out of Harvard and eventually worked as a bond trader. Once Smith became a successful worker, he moved to Santa Barbara anticipating a relaxing lifestyle and hoping to work on his painting interests. However, he was taken aback when he learned that everyone loved the house he had built, prompting him to continue creating architectural gems for the city. He only used quality materials from Spain and merged new and old world styles. Today Smith’s works are desired for their simplistic beauty and complex design. He is known as a founding father in the city of Santa Barbara, as many generations of architects have followed his artistic pathway. Kenny Slaught recognizes the keen eye and attention to detail needed to create works of such artistic excellence.
New intuitive software and mobile applications, says Kenny Slaught, the owner of one of the most successful property management enterprise in Santa Barbara, are giving investors and builders more options for lending and borrowing opportunities across a variety of real estate asset classes and geographies. California’s peer-to-peer lending projects emerged with the adoption of the Jumpstart Our Business Startup (JOBS) Act in 2012, significantly democratizing the ways in which sponsors can raise funds for real estate acquisitions and development. The new act allowed the previously banned practice of advertising, openly soliciting private funding from accredited individuals and firms. Individuals with a net worth of $1,000,000, excluding ownership of their personal residences, or with an annual income of $200,000 or a household with $300,000 if filed jointly with a spouse, can become an accredited investor. The amendments gave allow individual borrowers and lenders to participate in debt and equity financing, where loans generate income in the form of interest, without a sanctioned financial institution involved in the process. The online marketplace has created a new way for property owners and funders to browse investment offerings, perform due diligence, and have access to dashboards which track how assets and financial products are performing.
As technological developments revolutionize America’s real estate industry, the property management sector continues to become more efficient and profitable. Platforms offering numerous online collaborations and workflow automation are increasing in popularity, in large part due to their important ability to offer prompt access to accurate and consolidated data and information flows. Kenny Slaught, president and founder of Santa Barbara-based Investec Real Estate Companies, gives his insight into how California developers can best incorporate innovative models and cyber operations in their business strategies.