SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)		3 Months Ended	6 Months Ended		12 Months Ended
	May 05, 2021 shares	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) loan sub-servicer $ / shares shares		Dec. 31, 2023 USD ($) $ / shares shares		Jan. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)	Feb. 14, 2019 USD ($)	Jan. 15, 2019 USD ($)	Dec. 15, 2015 USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Accumulated earnings | $			$ 58,952,536	[1]	$ 47,373,908	[1]		$ 31,250,852
Number of commercial real estate loans included in loan performance analytical model | loan			125,000
Number of sub-servicers | sub-servicer			2
Principal amount | $			$ 47,750,000		$ 47,750,000
Common stock, shares authorized (in shares) | shares			450,000,000		450,000,000
Common stock, par value (in dollars per share) | $ / shares			$ 0.01		$ 0.01
Common stock, shares issued (in shares) | shares			52,275,230		52,248,631
Common stock, shares outstanding (in shares) | shares			52,275,230		52,248,631
Stock repurchase program, authorized amount | $											$ 10,000,000
Preferred stock, shares authorized (in shares) | shares			50,000,000		50,000,000
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.01		$ 0.01
Preferred stock, shares issued (in shares) | shares			2,400,000		2,400,000
Preferred stock, dividend rate, percentage			7.875%		7.875%
Preferred stock, shares outstanding (in shares) | shares			2,400,000		2,400,000
Accounting Standards Update 2016-13
Debt and Equity Securities, FV-NI [Line Items]
Accumulated earnings | $							$ (3,600,000)
Cash Basis Method
Debt and Equity Securities, FV-NI [Line Items]
Number of non accrual loans | loan			3
Impaired unpaid principal value | $			$ 52,500,000
Series A Cumulative Redeemable Preferred Stock
Debt and Equity Securities, FV-NI [Line Items]
Preferred stock, shares issued (in shares) | shares	2,400,000		2,400,000		2,400,000
Preferred stock, dividend rate, percentage	7.875%
Preferred stock, shares outstanding (in shares) | shares			2,400,000		2,400,000
Delayed Draw Facility | Credit Agreement
Debt and Equity Securities, FV-NI [Line Items]
Principal amount | $			$ 47,750,000						$ 40,250,000	$ 40,250,000
Other Operating Expenses
Debt and Equity Securities, FV-NI [Line Items]
Payments of debt issuance costs | $		$ 1,684,618
Collateralized Loan Obligations
Debt and Equity Securities, FV-NI [Line Items]
Maximum exposure to loss from consolidated trusts | $			$ 234,850,000		$ 234,850,000

[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company was the primary beneficiary of these VIEs. As of June 30, 2024 and December 31, 2023, assets of consolidated VIEs totaled $1,229,092,297 and $1,384,136,334, respectively and the liabilities of consolidated VIEs totaled $999,192,658 and $1,150,207,290 respectively. See Note 4 for further discussion.