REAL ESTATE ASSETS

3 Months Ended

Mar. 31, 2022

Real Estate [Abstract]

REAL ESTATE ASSETS

5. REAL ESTATE ASSETS

As of March 31, 2022 and December 31, 2021, real estate assets consisted of the following:

	March 31, 2022		December 31, 2021
Construction in Progress	$	7,319,106	$	8,597,023
Land Held for Development		8,130,264		7,098,104
Rental Properties, net		25,402,436		24,820,253
Total Real Estate Assets	$	40,851,806	$	40,515,380

Single family residential properties

As of March 31, 2022 and December 31, 2021, the Company owned 112 and 109 Single Family Residential Properties (“SFRs”) in Montgomery and Harris Counties, Texas, respectively. The Company’s aggregate investment in those SFRs was $25.7 million. Depreciation expense was $140,635 and $0 in three months ended March 31, 2022 and 2022, respectively.

The following table presents the summary of our SRFs as of March 31, 2022:

	Number of Homes		Aggregate investment		Average Investment per Home
SFRs		112	$	25,663,582	$	229,139