REAL ESTATE PROPERTY, NET

3 Months Ended

Oct. 31, 2024

REAL ESTATE PROPERTY, NET

REAL ESTATE PROPERTY, NET

NOTE 5 – REAL ESTATE PROPERTY, NET

As of October 31, 2024, and July 31, 2024, property and equipment consist of as follows;

	October 31,			July 31,
	2024			2024
Homes	$	1,824,638		$	1,318,062
Lands		136,290			132,708
Construction in progress		57,684			414,407
		2,018,612			1,865,177
Accumulated depreciation		(46,936	)		(31,985	)
	$	1,971,676		$	1,833,192

During the three months ended October 31, 2024, and the year ended July 31, 2024, three (3) homes and five (5) homes were completed, respectively.

As of October 31, 2024, the construction in progress consists of the cost of titles and construction expenses for three (3) homes which have not been completed.

As of October 31, 2024, the Company had eleven (11) completed homes and entered into seven (7) separate lease agreements with monthly lease payments of $1,100 for one home, $1,250 for five homes and $1,200 for one home, each for a period of one year for each home leased. As of October 31, 2024, two homes which the occupancy permits were issued on August 28, 2024, and September 18, 2024, have not been leased, the lease agreements of two homes were expired and are on market for lease.  

During the three months ended October 31, 2024, and 2023, the Company recorded a depreciation expense of $14,951 and $5,928, respectively.