REAL ESTATE ASSETS

12 Months Ended

Dec. 31, 2021

Real Estate [Abstract]

REAL ESTATE ASSETS

6. REAL ESTATE ASSETS

As of December 31, 2021 and 2020, real estate assets consisted of the following:

	December 31, 2021		December 31, 2020
Construction in Progress	$	8,597,023	$	9,567,841
Land Held for Development		7,098,104		10,937,750
Rental Properties		24,820,253		-
Total Real Estate Assets	$	40,515,380	$	20,505,591

Single family residential properties

As of December 31, 2021, the Company owns 109 Single Family Residential Properties (“SFRs”) in Montgomery and Harris Counties, Texas. The Company’s aggregate investment in those SFRs was $24.9 million. Depreciation expense was $120,511 and $0 in years ended December 31, 2021 and 2020, respectively.

The following table presents the summary of our SRFs as of December 31, 2021:

	Number of Homes		Aggregate investment		Average Investment per Home
SFRs		109	$	24,940,764	$	228,814