PROPERTY AND EQUIPMENT, NET

3 Months Ended

Oct. 31, 2023

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

NOTE 5 – PROPERTY AND EQUIPMENT, NET

As of October 31, 2023 and July 31, 2023, property and equipment consist of as follows;

	October 31,			July 31,
	2023			2023
Homes	$	684,945		$	550,680
Construction in progress		294,291			333,596
		979,236			884,276
Accumulated depreciation		(5,928	)		-
Total	$	973,308		$	884,276

As of October 31, 2023, the construction in progress consists of the cost of titles and construction for five (5) homes which have not been completed. Four (4) homes have been completed of which two have been leased and the remaining two completed are on the market for rent. The remaining five (5) homes under construction should be ready for lease in the second quarter during the year ended July 31, 2024.

As of October 31, 2023, the Company entered into two separate lease agreements with monthly lease payments of $1,250 for period of one year for each home leased.

During the three months ended October 31, 2023, the Company recorded depreciation expense of $5,928.