REAL ESTATE ASSETS

12 Months Ended

Dec. 31, 2022

Real Estate [Abstract]

REAL ESTATE ASSETS

5. REAL ESTATE ASSETS

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

	December 31, 2022		December 31, 2021
Construction in Progress	$	15,506,572	$	8,597,023
Land Held for Development		7,943,126		7,098,104
Rental Properties		31,169,031		24,820,253
Total Real Estate Assets	$	54,618,729	$	40,515,380

Single family residential properties

As of December 31, 2022 and 2021, the Company owns 132 and 109 Single Family Residential Properties (“SFRs”), respectively. The Company’s aggregate investment in those SFRs was $31 million. Depreciation expense was $882,814 and $120,511 in years ended December 31, 2022 and 2021, respectively. These homes are located in Montgomery and Harris Counties, Texas.

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

	Number of Homes		Aggregate investment		Average Investment per Home
SFRs		132	$	30,998,258	$	234,835