REAL ESTATE ASSETS

9 Months Ended

Sep. 30, 2024

Real Estate [Abstract]

REAL ESTATE ASSETS

5. REAL ESTATE ASSETS

As of September 30, 2024 and December 31, 2023, real estate assets consisted of the following:

	September 30, 2024		December 31, 2023
Construction in Progress	$	5,451,339	$	6,983,974
Land Held for Development		1,489,304		3,382,792
Rental Properties, net		30,964,349		31,770,386
Total Real Estate Assets	$	37,904,992	$	42,137,152

Single family residential properties

As of September 30, 2024 and December 31, 2023, the Company owned 132 Single Family Residential Properties (“SFRs”). The Company’s aggregate investment in those SFRs was $31 million. Depreciation expense was $264,052 and $259,405 in the three months ended September 30, 2024 and 2023, respectively. Depreciation expense was $792,155 and $779,232 in the nine months ended September 30, 2024 and 2023, respectively. These homes are located in Montgomery and Harris Counties, Texas.

The following table presents the summary of our SFRs as of September 30, 2024:

	Number of Homes		Aggregate Investment		Average Investment per Home
SFRs		132	$	31,388,691	$	237,793