Santa Barbara has now become a district for unique and developing businesses other than being a prevalent tourist destination, said Kenny Slaught. Plenty of exciting companies have been formed in recent years, and many, counting AppScale, LastLine, TrackR, and Salty Girl Seafood, have come right out of the University of California Santa Barbara. With more than $200 million raised for startups from private investors in the previous year, the Central Coast states nearly twice the investment per capita in development than the greater Los Angeles area, a much grander market. While few may feel the delight of Silicon Valley or Hollywood, local entrepreneurs appreciate the influence of building a business in an environment that boosts growth. Accordingly, the region is one of the best places in the country to launch and cultivate startups, building distinguished biotech, medical, technology, and scientific establishments like Inogen, Raytheon, Sonos, and BioIQ.
Santa Barbara, also known as the American Riviera, is globally famous for its enviable Mediterranean climate, dramatic mountain backgrounds, and attractive shorelines. This stunning city isn’t known nearly as well, however, for its lively, active neighborhoods and bighearted citizens, as per the local real estate expert, Kenny Slaught. The Investec CEO believes robust heritage, a flourishing small business sector, and dedicated nonprofit organizations play critical roles in creating these exclusive communities. As early as 1925, Santa Barbara city planners, understanding the natural charm of Southern California, developed legislation to preserve Spanish Colonial architecture, and the city became the first populace in the United States to consider the importance of historical buildings. The County Courthouse, the most common downtown destination for visiting tourists, is adorned with brightly colored tiles and murals that display remarkable scenes from the city’s past. A church that has been operational for over 200 years, The Old Mission, also known as the “Queen of Missions,” offers an amazing view into the formation of the New World through guided tours and a spread-out museum.
Kenny Slaught states that 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. Crowdfunding or peer-to-peer lending initiatives emerged in the state after the adoption of the Jumpstart Our Business Startup (JOBS) Act of 2012, which significantly opened the process in which sponsors can raise funds for real estate acquisitions and development. The new law allowed the originally banned practice of advertising or publicly soliciting private funding from accredited individuals and firms. People with a net worth of $1,000,000, excluding ownership of their personal residences, or with an yearly income of $200,000 or a household with $300,000 per annum, if filed together with a spouse, can become an accredited investor. Kenny Slaught points out that the amendments gave the green light to California borrowers and lenders to participate in debt and equity financing, in which loans generate income in the form of interest, without an official financial institution involved as an intermediary. The online marketplace has built a new outlet for property owners and funders to browse new investment offerings, perform due diligence, and keep track of dashboards to monitor how assets and financial products are performing.
Technological development has revolutionized America’s real estate industry, making the property management sector more efficient and profitable. Platforms that offer numerous online collaborations and –most importantly –workflow automation are increasing in popularity, in large part due to their ability to provide prompt access to accurate and consolidated data and information flow. Kenny Slaught, the president and founder of Santa Barbara-based Investec Real Estate Companies, shares his insights into how California developers can best apply innovative models and cyber operations in their business strategies.
Almost 100 years ago, famous architect George Washington Smith, inspired the California movement called the Spanish Colonial revival. He was a man who dropped out of Harvard to eventually work as a bond trader. Once a successful businessman, he moved to the region anticipating a relaxing lifestyle and planning to work on his painting abilities. What came as a surprise was that everyone loved the house he had designed, prompting him to continue creating architectural gems for other Californians. Using authentic materials from Spain and combining new and old world inspiration, George Smith’s works are sought out and enjoyed for their simplistic beauty and complex design. Known as a founding father for Santa Barbara, other architects have mirrored his style for many generations. Kenny Slaught admires the keen eye and attention to specific qualities required to design a structure of such artistic excellence.