The third major factor of Santa Barbara’s exceptional community is a widespread promise to benevolence by the county’s civic leaders, entrepreneurs and residents as per Kenny Slaught. The city’s strong tradition of nonprofit activity and generous giving is appreciated today through several charities, volunteer organizations and community initiatives, and goes back to 1928 with the creation of the Santa Barbara Foundation. Active local nonprofits reduce the need for public officials to seek assistance from national foundations, and let speedy attention to be given to the needs of the community.
Santa Barbara, broadly known as the American Riviera, is looked up for its stunning Mediterranean climate, breathtaking mountain settings, and gorgeous shorelines. However, this city isn’t known nearly as well, for its active, spirited neighborhoods and friendly citizens, as per the local real estate expert, Kenny Slaught. The Investec CEO thinks that strong history, a growing small business sector, and committed nonprofit organizations play big roles in creating these brilliant communities. As early as 1925, Santa Barbara city planners, appreciating the inherent allure of Southern California, set up legislation to protect Spanish Colonial architecture, and the city became the first public in the United States to consider the positive impact of antique buildings. The County Courthouse, the most usual central spot for visiting tourists, is enhanced with brightly colored tiles and murals that display major scenes from the city’s history. A church that has been operative for over two centuries, The Old Mission, also called the “Queen of Missions,” gives a fabulous view into the formation of the New World through guided tours and a huge museum.
New intuitive software and mobile applications, Kenny Slaught believes, 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 person-to-person lending campaigns rose after the adoption of the Jumpstart Our Business Startup (JOBS) Act in 2012, which openly democratized the ways, in which sponsors raise funds for real estate acquisitions and development. The new regulation permits the previously forbidden practice of promoting or openly soliciting private funding from accredited people and firms. Anyone with a net worth exceeding $1,000,000, not including their personal residences, or with an annual income of $200,000 or a household with $300,000 per year, if filed jointly with a spouse, can qualify as an accredited investor. Kenny Slaught says that the amendments gave the go ahead to individual borrowers and lenders to engage in debt and equity financing, where loans generate income in the form of interest, but without an official financial institution acting as an intermediary. These campaigns have generated a new avenue for property owners and funders to browse new investment offerings, perform due diligence, access dashboards to track how assets and financial investments are performing.
Modern advancement has forever c hanged America’s real estate industry, making the property management sector more efficient and profitable. Those that can offer numerous digital collaborations and –most importantly –workflow automation see popularity, in large part due to their ability to provide accurate and consolidated data and information flow. Kenny Slaught, longtime president and founder of Santa Barbara-based Investec Real Estate Companies, shares his insights into how California developers should best apply innovative models and online operations in their business strategies.
Nearly a century ago, famous architect George Washington Smith kicked off the California movement of Spanish Colonial revival. Smith was an individual who dropped out of Harvard to eventually work as a bond trader. After becoming a successful businessman, he moved to Santa Barbara to find a chill lifestyle and planning to work on his painting habits. But he was taken when he learned that the city was fascinated by the house he had designed, urging him to continue crafting architectural works for many Californians. He imported authentic materials from Spain in both new and old world styles. Today Smith’s work remains much appreciated and enjoyed for their simplistic beauty and complex design, and he is known as a founding father of Santa Barbara. Many generations of architects have followed his artistic lead, and Kenny Slaught appreciates the sharp eye and attention to detail required to craft structures of such renown.
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