REAL ESTATE ASSETS

12 Months Ended

Dec. 31, 2023

Real Estate [Abstract]

REAL ESTATE ASSETS

5. REAL ESTATE ASSETS

As of December 31, 2023 and 2022, real estate assets consisted of the following:

	December 31, 2023		December 31, 2022
Construction in Progress	$	6,983,974	$	15,506,572
Land Held for Development		3,382,792		7,943,126
Rental Properties		31,770,386		31,169,031
Total Real Estate Assets	$	42,137,152	$	54,618,729

Single family residential properties

As of December 31, 2023 and 2022, the Company owns 132 Single Family Residential Properties (“SFRs”). The Company’s aggregate investment in those SFRs was $31 million. Depreciation expense was $1,050,897 and $882,814 in years ended December 31, 2023 and 2022, respectively. These homes are located in Montgomery and Harris Counties, Texas.

The following table presents the summary of our SRFs as of December 31, 2023:

	Number of Homes		Aggregate investment		Average Investment per Home
SFRs		132	$	33,190,603	$	251,444