More than 150 new firms specializing in real estate were helped grow by crowdfunding, despite this option being available for just a few years. It appears that currently about 7% of Americans are accredited investors, though in Southern California the percentage is higher at 20%. There are various platforms people can use to legally raise money from others. These platforms are CrowdEngine, CrowdForce and RealtyShares, among others. In some cases, it’s possible to collect as much as 90% of the value requirement by using these direct community contributions. Owners who want more transparency when it comes to their portfolios’ performance and management, can use applications like Rentlytics and other data analytics. Kenny Slaught, who has more than 30 years of experience as a property developer, thinks that California is the best when it comes to real estate tech. Thanks to these innovative tools to collect funds, borrowers and investors raised over 53 million dollars, as properties with various purposes, in Northern California, San Francisco and the Bay Area.