PART II 2 ea0239650-1k_arrived.htm ANNUAL REPORT

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 1-K

 

ANNUAL REPORT PURSUANT TO REGULATION A

 

For the fiscal year ended:

December 31, 2024

 

ARRIVED HOMES, LLC
(Exact name of issuer as specified in its charter)

 

Delaware   85-2046587
State of other jurisdiction of
incorporation or Organization		   (I.R.S. Employer
Identification No.)

 

1700 Westlake Ave North, Suite 200

Seattle, WA 98109

(Full mailing address of principal executive offices)

 

(814)-277-4833
(Issuer’s telephone number, including area code)

 

www.arrived.com
(Issuer’s website)

 

Arrived Homes Series Lierly; Arrived Homes Series Soapstone; Arrived Homes Series Pecan; Arrived Homes Series Patrick; Arrived Homes Series Plumtree; Arrived Homes Series Chaparral; Arrived Homes Series Splash; Arrived Homes Series Tuscan; Arrived Homes Series Salem; Arrived Homes Series Malbec; Arrived Homes Series Pinot; Arrived Homes Series Luna; Arrived Homes Series Kingsley; Arrived Homes Series Shoreline; Arrived Homes Series Holloway; Arrived Homes Series Badminton; Arrived Homes Series Eastfair; Arrived Homes Series Centennial; Arrived Homes Series Mojave; Arrived Homes Series Wentworth; Arrived Homes Series Cupcake; Arrived Homes Series Basil; Arrived Homes Series Lallie; Arrived Homes Series Dewberry; Arrived Homes Series Spencer; Arrived Homes Series Summerset; Arrived Homes Series Roseberry; Arrived Homes Series Windsor; Arrived Homes Series Forest; Arrived Homes Series Meadow; Arrived Homes Series Collinston; Arrived Homes Series Saddlebred; Arrived Homes Series Odessa; Arrived Homes Series Lily; Arrived Homes Series Saturn; Arrived Homes Series Sugar; Arrived Homes Series Coatbridge; Arrived Homes Series Lennox; Arrived Homes Series Olive; Arrived Homes Series Dawson; Arrived Homes Series Ridge; Arrived Homes Series Bayside; Arrived Homes Series Elm; Arrived Homes Series River; Arrived Homes Series Amber; Arrived Homes Series Westchester; Arrived Homes Series Limestone; Arrived Homes Series Jupiter; Arrived Homes Series Weldon; Arrived Homes Series Holland; Arrived Homes Series Elevation; Arrived Homes Series Oly; Arrived Homes Series McLovin; Arrived Homes Series Matchingham; Arrived Homes Series Rooney; Arrived Homes Series Diablo; Arrived Homes Series KerriAnn; Arrived Homes Series Sigma; Arrived Homes Series Grant; Arrived Homes Series Bandelier; Arrived Homes Series Ensenada; Arrived Homes Series Davidson; Arrived Homes Series Vernon; Arrived Homes Series Murphy; Arrived Homes Series Dolittle; Arrived Homes Series Butter; Arrived Homes Series Ribbonwalk; Arrived Homes Series Scepter; Arrived Homes Series Delta; Arrived Homes Series Saint; Arrived Homes Series Lovejoy; Arrived Homes Series Emporia; Arrived Homes Series Wave; Arrived Homes Series Tuxford; Arrived Homes Series Greenhill; Arrived Homes Series Kawana; Arrived Homes Series Chelsea; Arrived Homes Series Terracotta; Arrived Homes Series Otoro; Arrived Homes Series Hollandaise; Arrived Homes Series Hadden; Arrived Homes Series Avebury; Arrived Homes Series Tulip; Arrived Homes Series Jack; Arrived Homes Series Bedford; Arrived Homes Series Louise; Arrived Homes Series Gardens; Arrived Homes Series Peanut; Arrived Homes Series 100; Arrived Homes Series Grove; Arrived Homes Series Lanier; Arrived Homes Series Mammoth; Arrived Homes Series McGregor; Arrived Homes Series Point; Arrived Homes Series Roxy; Arrived Homes Series Wisteria; Arrived Homes Series Heron; Arrived Homes Series Stonebriar; Arrived Homes Series Heritage; Arrived Homes Series Magnolia; Arrived Homes Series Kirkwood; Arrived Homes Series Rosewood; Arrived Homes Series Apollo; Arrived Homes Series Baron; Arrived Homes Series Swift; Arrived Homes Series Wescott; Arrived Homes Series Wildwood; Arrived Homes Series Madison; Arrived Homes Series Abbington; Arrived Homes Series Burlington; Arrived Homes Series Lannister; Arrived Homes Series Nugget; Arrived Homes Series Pearl; Arrived Homes Series Hines; Arrived Homes Series Ritter; Arrived Homes Series 101; Arrived Homes Series Jake; Arrived Homes Series Holcomb; Arrived Homes Series Latte; Arrived Homes Series Dunbar; Arrived Homes Series Lookout; Arrived Homes Series Reynolds; Arrived Homes Series Kennesaw; Arrived Homes Series Pioneer; Arrived Homes Series Bazzel; Arrived Homes Series June; Arrived Homes Series Johnny; Arrived Homes Series Osprey; Arrived Homes Series Riverwalk; Arrived Homes Series Collier; Arrived Homes Series Folly; Arrived Homes Series Dorchester; Arrived Homes Series Dogwood; Arrived Homes Series Walton; Arrived Homes Series Clover; Arrived Homes Series Dolly; Arrived Homes Series Kenny; Arrived Homes Series Creekside; Arrived Homes Series Willow; Arrived Homes Series Wilson; Arrived Homes Series Daisy; Arrived Homes Series Henry; Arrived Homes Series Sodalis; Arrived Homes Series Loretta; Arrived Homes Series Conway; Arrived Homes Series Belle; Arrived Homes Series Chitwood; Arrived Homes Series Spring; Arrived Homes Series Highland; Arrived Homes Series Wellington; Arrived Homes Series Braxton; Arrived Homes Series Reginald; Arrived Homes Series Camino; Arrived Homes Series Winston; Arrived Homes Series Inglewood; Arrived Homes Series Richardson; Arrived Homes Series Cumberland; Arrived Homes Series Bonneau; Arrived Homes Series Blossom; Arrived Homes Series Marcelo; Arrived Homes Series Taylor; Arrived Homes Series Aster; Arrived Homes Series Quincy; Arrived Homes Series Jill; Arrived Homes Series Marietta; Arrived Homes Series Mae; Arrived Homes Series Chester; Arrived Homes Series Shallowford; Arrived Homes Series Cypress; Arrived Homes Series Harrison; Arrived Homes Series Piedmont; Arrived Homes Series Kessler; Arrived Homes Series Creekwood; Arrived Homes Series Hansel; Arrived Homes Series Falcon; Arrived Homes Series Eagle; Arrived Homes Series Goose; Arrived Homes Series Gretal; Arrived Homes Series Mimosa; Arrived Homes Series Redondo; Arrived Homes Series Sundance; Arrived Homes Series Chickamauga; Arrived Homes Series Sequoyah; Arrived Homes Series Litton; Arrived Homes Series Brainerd; Arrived Homes Series Brooklyn; Arrived Homes Series Lurleen; Arrived Homes Series Regency; Arrived Homes Series Sunnyside; Arrived Homes Series Korin; Arrived Homes Series Dops; Arrived Homes Series Brennan; Arrived Homes Series Sajni; Arrived Homes Series Tuscarora; Arrived Homes Series Salinas; Arrived Homes Series Hansard; Arrived Homes Series Jefferson; Arrived Homes Series Marie; Arrived Homes Series Ella; Arrived Homes Series Douglas; Arrived Homes Series Cove; Arrived Homes Series Belvedere; Arrived Homes Series Avondale; Arrived Homes Series Martell; Arrived Homes Series Mycroft; Arrived Homes Series Longwoods; Arrived Homes Series Louis; Arrived Homes Series Fenwick; Arrived Homes Series Sims; Arrived Homes Series Osceola; Arrived Homes Series Augusta; Arrived Homes Series Cawley; Arrived Homes Series Bella; Arrived Homes Series Foster; Arrived Homes Series Franklin; Arrived Homes Series General; Arrived Homes Series Marion; Arrived Homes Series Marple; Arrived Homes Series Mary; Arrived Homes Series Onyx; Arrived Homes Series Palmer; Arrived Homes Series Porthos; Arrived Homes Series Simon; Arrived Homes Series Theodore; Arrived Homes Series Chinook; Arrived Homes Series Bergenia; Arrived Homes Series Felix; Arrived Homes Series Oscar; Arrived Homes Series Ellen; Arrived Homes Series Alvin; Arrived Homes Series Ballinger; Arrived Homes Series Briarwood; Arrived Homes Series Eastwood; Arrived Homes Series Abernant; Arrived Homes Series Calvin; Arrived Homes Series Fletcher; Arrived Homes Series Hargrave; Arrived Homes Series Hobbes; Arrived Homes Series Irene; Arrived Homes Series Peterson; Arrived Homes Series Richmond; Arrived Homes Series Winchester

 

(Title of each class of securities issued pursuant to Regulation A)

 

 

 

 

 

 

TABLE OF CONTENTS

 

ITEM 1. DESCRIPTION OF BUSINESS 1
     
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION 13
     
ITEM 3. DIRECTORS AND OFFICERS 63
     
ITEM 4. SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITYHOLDERS 66
     
ITEM 5. INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN TRANSACTIONS 66
     
ITEM 6. OTHER INFORMATION 66
     
ITEM 7. FINANCIAL STATEMENTS F-1
     
ITEM 8. EXHIBITS 67

 

i

 

 

CAUTIONARY STATEMENT REGARDING Forward-Looking StatementS

 

The information contained in this Annual Report on Form 1-K (this “Form 1-K”) includes some statements that are not historical and that are considered “forward-looking statements.” Such forward-looking statements include, but are not limited to, statements regarding our development plans for our business; our strategies and business outlook; anticipated development of our company, the manager, each series of our company and the Arrived Homes platform (defined below); and various other matters (including contingent liabilities and obligations and changes in accounting policies, standards and interpretations). These forward-looking statements express the manager’s expectations, hopes, beliefs, and intentions regarding the future. In addition, without limiting the foregoing, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.  The words “anticipates,” “believes,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “plans,” “possible,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” “would” and similar expressions and variations, or comparable terminology, or the negatives of any of the foregoing, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

 

The forward-looking statements contained in this Form 1-K are based on current expectations and beliefs concerning future developments that are difficult to predict. Neither our company nor the manager can guarantee future performance, or that future developments affecting our company, the manager or the Arrived platform will be as currently anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

 

All forward-looking statements attributable to us are expressly qualified in their entirety by these risks and uncertainties. These risks and uncertainties, along with others, are detailed under the headings “Summary – Summary Risk Factors” and “Risk Factors” in our latest offering circular (the “Offering Circular”) filed by the company with the Securities and Exchange Commission (the “Commission”), which may be accessed here and may be amended, and in our subsequent reports and offering statements filed from time to time with the Commission. Should one or more of these risks or uncertainties materialize, or should any of the parties’ assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You should not place undue reliance on any forward-looking statements and should not make an investment decision based solely on these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

 

ii

 

 

MARKET AND OTHER INDUSTRY DATA

 

This Form 1-K includes market and other industry data and estimates that are based on our management’s knowledge and experience in the markets in which we operate. The sources of such data generally state that the information they provide has been obtained from sources they believe to be reliable, but we have not investigated or verified the accuracy and completeness of such information. Our own estimates are based on information obtained from our and our affiliates’ experience in the markets in which we operate and from other contacts in these markets. We are responsible for all of the disclosure in this Form 1-K, and we believe our estimates to be accurate as of the date of this Form 1-K or such other date stated herein. However, this information may prove to be inaccurate because of the method by which we obtained some of the data for the estimates or because this information cannot always be verified with complete certainty due to the limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties. As a result, you should be aware that market and other industry data included in this Form 1-K, and estimates and beliefs based on that data, may not be reliable.

 

iii

 

  

Item 1. Description of Business

 

Company Overview – Our Mission

 

Arrived Homes, LLC, a Delaware series limited liability company, was formed in July 2020 to permit public investment in specific single-family rental homes. We believe people should have the freedom to move to pursue new opportunities in their lives while still having access to the wealth creation that long-term home ownership and real estate investment can provide. To support this idea, we are building what we believe to be a new model for home ownership and real estate investment that doesn’t lock people into a single home or city. We believe in passive income, conservative debt, freedom to move, diversification, and aligned incentives.

 

Arrived is a marketplace for investing in homes. We buy single family homes, lease them, divide them into multiple interests, and offer them as investments on a per interest basis through our web-based platform. Investors can manage their risk by spreading their investments across a portfolio of homes, they can invest in real estate without needing to apply for mortgages or take on personal debt, and they can move to new homes or cities and continue holding their Arrived investments without having to worry about selling homes they’re invested in.

 

Arrived does all of the work of sourcing, analyzing, maintaining, and managing all of the homes that we acquire. We analyze every home investment across several financial, market, and demographic characteristics to support our acquisition decision-making. Every investment we make is an investment in the communities in which Arrived operates, alongside other like-minded individuals. As our community network grows, so does our access to investment and housing opportunities.

 

Arrived rents the homes we acquire to tenants who can also invest through the same process as any other member of the Arrived platform, becoming part owners of the homes they’re living in at that time. By investing together, we align incentives towards creating value for everyone.

 

Our Series LLC Structure

 

Each single family rental home that we acquire will be owned by a separate series of our company that we will establish to acquire that home.  Each series may hold the specific property that it acquires in a wholly-owned subsidiary, which would be a limited liability company organized under laws of the state in which the series property is located. 

 

As a Delaware series limited liability company, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series are segregated and enforceable only against the assets of such series, as provided under Delaware law.  We intend for each series to elect and qualify to be taxed as a separate real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ending after the completion of the initial public offering of interests of such series.

 

Our company’s core business is the identification, acquisition, marketing and management of individual single family rental homes for the benefit of our investors. Each series is intended to own a single property.

 

Investment Objectives

 

Our investment objectives are: 

 

  ● Consistent cash flow;

 

  ● Long term capital appreciation with moderate leverage;

 

  ● Favorable tax treatment of REIT income and long term capital gains; and

 

  ● Capital preservation.

 

We cannot assure you that we will attain these objectives or that the value of our assets will not decrease. 

 

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Our Investment Criteria

 

Our home acquisition investments are evaluated against the following primary characteristics:

 

  ● Capitalization rates greater than 5%. For this purpose, the capitalization rate reflects a series property’s annual rental income minus property management fees, local real estate taxes, property insurance, maintenance expenses, and marketing incentives, divided by the purchase price of the property;

 

  ● Homes with a minimum of three (3) bedroom and two (2) bathrooms;

 

  ● Homes less than 30 years old;

 

  ● Homes with a price range of $200,000 - $400,000 and a repair/improvement budget requirement of less than 20% of the home purchase price; and

 

  ● Neighborhoods with median incomes that exceed the metropolitan statistical area, or MSA, median.

 

Our Investment Process

 

Our investment process leverages our network of renter demand, experienced team members, and data analysis to make our investment decisions:

 

  ● Sourcing: Arrived will use an in-house acquisition team (using industry leading analysis and screening tools) in collaboration with local real estate professionals to find and source investment opportunities. The opportunities may include individual homes listed on the MLS, bulk rental home portfolios, BFR (built-for-rent) communities, and off-market deals sourced by our staff and from leads generated from our member network.

 

  ● Due Diligence: Arrived evaluates potential investments against our stated investment criteria. Once a geographic market is selected, our due diligence will focus on the sub-market and the property itself. Value analysis will include projected rental rates and home values, relying on a combination of first-party data, automated valuation models, or AVMs, and third party independent appraisals. Property level analysis will look at standard risk factors including condition of title, structural defects in the home, environmental issues, and other hazards such as floods and earthquakes.

 

  ● Investment Committee: Once our acquisition team recommends a home purchase, the investment committee will convene to review due diligence materials and issue a go/no-go decision.

 

  ● Home Purchase: A home will be purchased either by the manager or an affiliate of the manager and then resold to a particular series or purchased directly by a series from a third-party seller, in accordance with the acquisition mechanics set forth below. Following acquisition of a property by a series, the property will be renovated, to the extent necessary, and then leased to a quality tenant on a 12-24 month lease. If a series property is renovated prior to the closing of the relevant series offering, the funds required for renovations will be forwarded to the series by the manager and repaid out of offering proceeds.

 

  ● Ongoing Management: Arrived will partner with one or more third party independent property management firms in each of our markets. Arrived will place an initial tenant in a home from our member network and will assist with future tenant placements. The property management firm will maintain books and records, inspect each home and ensure that it is properly maintained, handle maintenance requests, and be responsible for landlord/tenant compliance. We intend that our preferred property management firms will utilize modern tech-enabled property management platforms with digital payment and communication features.

 

2

 

 

Our Manager

 

Our company is managed by Arrived Fund Manager, LLC, a Delaware limited liability company and managing member of our company, which we refer to herein as the “manager.” Pursuant to the terms of our operating agreement, the manager will provide certain management and advisory services to us and to each of our series and their subsidiaries, if any, as well as a management team and appropriate support personnel.  The manager is a wholly owned subsidiary of our sponsor, Arrived Holdings, Inc., a Delaware corporation, which is an asset management company that operates a web-based investment platform, the Arrived platform, used by our company for the offer and sale of interests in the series of our company. 

 

The nature of business to be conducted or promoted by us must at all times be to engage in any lawful act or activity for which LLCs may be organized under the Delaware Limited Liability Company Act.

  

Investment Strategy – Our Market Opportunity

 

Our investment strategy is to acquire, invest in, manage, operate, selectively leverage and sell single family homes located in vibrant, growing cities across America. We believe that these markets offer investors a blend of attractive capitalization rates and a strong prospect for long term property value appreciation.

 

Market Selection

 

We intend to focus our business efforts on the top 100 MSAs (metropolitan statistical areas with populations greater than 500,000) which exhibit the following characteristics:

 

  ● Sufficient inventory to make it feasible to achieve scale in the local market (100 – 500 homes);

 

  ● Job and income growth forecasts of 3% or greater;

 

  ● Affordability with gross rent multiplier below 12. For this purpose, a gross rent multiplier (GRM) is the ratio of the price of the single family home purchased to its annual rental income before accounting for expenses such as property taxes, insurance, and utilities; GRM is the number of years the property would take to pay for itself in gross received rent;

 

  ● Large university and skilled workforce;

 

  ● Popular with millennials; and

 

  ● Favorable competitive landscape with respect to other institutional single family residence buyers.

  

We focus on acquiring properties we believe (1) are likely to generate stable cash flows in the long term and (2) have significant possibilities for long-term capital appreciation, such as those located in neighborhoods with what we see as high growth potential and those available from sellers who are distressed or face time-sensitive deadlines. 

 

We may enter into one or more joint ventures, tenant-in-common investments or other co-ownership arrangements for the acquisition, development or improvement of properties with third parties or affiliates of the manager, including present and future real estate investment offerings sponsored by affiliates of the manager. 

 

3

 

 

Investments in Real Property

 

Our investment in real estate generally will take the form of holding fee title or a long-term leasehold estate. We will acquire such interests either directly or indirectly through limited liability companies or through investments in joint ventures, partnerships, co-tenancies or other co-ownership arrangements with third parties, including developers of the properties, or with affiliates of the manager. In addition, we may purchase properties and lease them back to the sellers of such properties. Although we will use our best efforts to structure any such sale-leaseback transaction such that the lease will be characterized as a “true lease” so that we will be treated as the owner of the property for federal income tax purposes, the Internal Revenue Service could challenge such characterization. If any such sale-leaseback transaction is recharacterized as a financing transaction for U.S. federal income tax purposes, deductions for depreciation and cost recovery relating to such property would be disallowed. 

 

Our obligation to purchase any property generally will be conditioned upon the delivery and verification of certain documents from the seller or developer, including, where appropriate:

 

  ● plans and specifications;

 

  ● evidence of marketable title subject to such liens and encumbrances as are acceptable to the manager;

 

  ● auditable financial statements covering recent operations of properties having operating histories; and

 

  ● title and liability insurance policies.

 

We may seek to enter into arrangements with the seller or developer of a property whereby the seller or developer agrees that, if during a stated period the property does not generate a specified cash flow, the seller or developer will pay in cash to us a sum necessary to reach the specified cash flow level, subject in some cases to negotiated dollar limitations. In determining whether to purchase a particular property, we may, in accordance with customary practices, obtain an option on such property. The amount paid for an option, if any, is normally surrendered if the property is not purchased and is normally credited against the purchase price if the property is purchased. The terms and conditions of any apartment lease that we enter into with our residents may vary substantially; however, we expect that a majority of our leases will be standardized leases customarily used between landlords and residents for residential properties. Such standardized leases generally have terms of one year or less. All prospective residents for our residential properties will be required to submit a credit application.

 

In purchasing, leasing and developing properties, we will be subject to risks generally incident to the ownership of real estate. For example, certain losses are not insurable and may only be insured subject to limitations. Insurance coverage may also vary based on the specific property, geography and market covered. Our insurance coverage generally varies based on replacement cost (estimated with a cost to square foot analysis based on the market and finish level). Although we also maintain an “all-perils policy” (with some standard exclusions) for each series property which seeks to provide insurance coverage for the properties at their full value, there is no guarantee that such coverage will actually be sufficient or cover all costs and damages in the case of any loss.

 

Leverage Policy

 

We may employ leverage to enhance total returns to our investors through a combination of senior financing on our real estate acquisitions, secured facilities, and capital markets financing transactions. We will seek to secure conservatively structured leverage that is long-term, non-recourse, non-mark-to-market financing to the extent obtainable on a cost effective basis. To the extent leverage is employed it may come either in the form of government-sponsored programs or other long-term, non-recourse, non-mark-to-market financing. The manager may from time to time modify our leverage policy in its discretion. However, it is our policy to not borrow more than 69% of the greater of cost (before deducting depreciation or other non-cash reserves) or fair market value of our assets. We cannot exceed the leverage limit of our leverage policy unless any excess in borrowing over such level is approved by the manager. To the extent a series does not employ leverage to fund the initial purchase of an asset, the series may subsequently determine to obtain financing for the asset in accordance with this leverage policy. In such case, unless the financing (or any other refinancing) proceeds are needed, in the manager’s discretion, to fund the operations of an asset or reserves, the manager may determine to distribute all or a portion of such proceeds to investors.

 

Acquisition Mechanics

 

Typically, each series will acquire its series property prior to the commencement or closing of that series’ offering. Each series property will be fully described in the offering circular as it may be amended to include new series offerings. In each such offering circular, information relating to the series property being offered, such as the description and specifications of the series property, the purchase price of the series property and the relevant terms of purchase, will be disclosed.

 

It is not anticipated that a series will own any assets other than its series property, plus cash reserves for maintenance, insurance and other expenses pertaining to the series property and amounts earned by the series from the monetization of the series property, if any.  Each series may hold the specific property that it acquires in a wholly-owned subsidiary which would be a limited liability company organized under laws of the state in which the series property is located. 

 

A series may acquire its property either from an unaffiliated third party or from an affiliate of the manager. For a detailed description of our acquisition methods, please refer to our latest offering circular, filed with the Securities and Exchange Commission on January 30, 2025, which may be accessed here.

 

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Operating Policies

 

Credit Risk Management. We may be exposed to various levels of credit and special hazard risk depending on the nature of our assets. The manager and its executive officers will review and monitor credit risk and other risks of loss associated with each investment. The manager will monitor the overall credit risk and levels of provision for loss.

 

Interest Rate Risk Management. We will follow an interest rate risk management policy intended to mitigate the negative effects of major interest rate changes. We intend to minimize our interest rate risk from borrowings by attempting to “match-fund,” which means the manager will seek to structure the key terms of our borrowings to generally correspond with the expected holding period of our assets.

 

Equity Capital Policies. Under the operating agreement, we have the authority to issue an unlimited number of additional interests or other securities. After your purchase in any series offering, the manager may elect to: (i) sell additional securities in future private offerings, or (ii) issue additional securities in public offerings. To the extent we issue additional equity interests after your purchase in an offering, your percentage ownership interest in us will be diluted. In addition, depending upon the terms and pricing of any additional offerings and the value of our investments, you may also experience dilution in the book value and fair value of your interests.

 

Additional Borrowings. We expect each series may seek, as applicable, to finance or refinance any outstanding indebtedness with an additional mortgage or other debt financing, including with either an affiliate or a third party. We expect that any third-party mortgage and/or other debt instruments that a series, or the Company on behalf of a series, enters into in connection with a financing or refinancing of a property will be secured by a security interest in the title of such property and any other assets of the series.

   

Disposition Policies

 

We intend to hold and manage the properties we acquire for a period of five to seven years. As each of our properties reaches what we believe to be its optimum value, we will consider disposing of the property. The determination of when a particular property should be sold or otherwise disposed of will be made after consideration of relevant factors, including prevailing and projected economic conditions, whether the value of the property is anticipated to appreciate or decline substantially, and how any existing leases on a property may impact the potential sales price. The manager may determine that it is in the best interests of shareholders to sell a property earlier than five years or to hold a property for more than seven years. Additionally, any sale of a property will be subject to lessee rights and we would attempt to time property sales with lessee rights in mind, either by timing sales with anticipated lease terminations or by assigning an existing lease to the property buyer where allowed under applicable laws.

 

When we determine to sell a particular property, we will seek to achieve a selling price that maximizes the capital appreciation for investors based on then-current market conditions. We cannot assure you that this objective will be realized.

 

Following the sale of a property, the manager will distribute the proceeds of such sale, net of the property disposition fee as described below, to the interest holders of the applicable series (after payment of any accrued liabilities or debt on the property or of the series at that time).

 

Property Disposition Fee

 

Upon the disposition and sale of a series property, each series will be charged a market rate property disposition fee that will cover property sale expenses such as brokerage commissions, and title, escrow and closing costs. It is expected that this disposition fee charged to a series will range from six to seven percent of the property sale price. To the extent that the actual property disposition fees are less than the amount charged to the series, the manager will receive the difference as income.

 

Description of the Property Management Agreement

 

The Company will appoint an affiliate of the manager or a third-party property management company to serve as property manager to manage the underlying property of each series pursuant to a series specific property management agreement.

 

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The services provided by the property manager will include:

 

  ● Collecting rent and maintaining books and records;

 

  ● Ensuring compliance with local landlord/tenant and other applicable laws;

 

  ● Routine property maintenance and responding to tenant maintenance requests;

 

  ● Handling tenant on-boarding (move-in) and move-out; and

 

  ● Investigating, selecting, and, on behalf of the applicable series, engaging and conducting business with such persons as the property manager deems necessary to ensure the proper performance of its obligations under the property management agreement, including but not limited to consultants, insurers, insurance agents, maintenance providers, bookkeepers and accountants and any and all persons acting in any other capacity deemed by the property manager necessary or desirable for the performance of any of the services under the property management agreement.

 

Each property management agreement will terminate on the earlier of: (i) the manager’s discretion to terminate a property management agreement at pre-determined renewal periods or by paying a termination fee, (ii) after the date on which the relevant series property has been liquidated and the obligations connected to the series property (including contingent obligations) have been terminated, (iii) the removal of the manager as managing member of our company and thus of all series (if the property manager is the manager), (iv) upon notice by one party to the other party of a party’s material breach of a property management agreement or (v) such other date as agreed between the parties to the property management agreement.

 

Each series will indemnify the property manager out of its assets against all liabilities and losses (including amounts paid in respect of judgments, fines, penalties or settlement of litigation, including legal fees and expenses) to which it becomes subject by virtue of serving as property manager under the respective property management agreements with respect to any act or omission that has not been determined by a final, non-appealable decision of a court, arbitrator or other tribunal of competent jurisdiction to constitute fraud, willful misconduct or gross negligence.

 

Currently, we intend to enter into a property management agreement on behalf of each series with an affiliate of the manager or a third-party property management company. We reserve the right to change property managers at any time.

 

Property Management Fee

 

The company will appoint an affiliate of the manager or a third-party property management company to serve as property manager to manage the property of each series pursuant to a property management agreement. The fee arrangements for each property management company are set forth below:

 

Marketplace Homes

  

As compensation for the services provided by the property manager, each series will be charged a property management fee of $70 on a monthly basis and paid to the property manager pursuant to the property management agreement.

 

6

 

 

Mynd Property Management

  

As compensation for the services provided by the property manager, each series will be charged a property management fee equal to six percent (6%) of all rents and fees as remitted to the series or a minimum property management fee of $84 on a monthly basis and paid to the property manager pursuant to the property management agreement.

 

The property manager for each Series is specified in the latest Offering Circular under "The Series Properties Being Offered.”

 

Liquidity Platform

 

Overview of PPEX ATS Platform

 

The Company and its affiliates intend to enter into an arrangement with NCPS and its affiliates to facilitate secondary transactions in interests issued by the Company on the PPEX ATS. The PPEX ATS is owned and operated by NCPS. The arrangement with NCPS will be established to provide a venue for secondary trading of series interests and is designed to provide investors with an efficient means to buy and sell series interests in secondary transactions. The manager will enter into a brokerage agreement and a license agreement with the Executing Broker pursuant to which, subject to restrictions under state and federal securities laws and the transfer restrictions listed in the operating agreement, the Executing Broker is engaged to execute all resale transactions in interests based on the matching of orders on the PPEX ATS. The Executing Broker is a registered broker-dealer member of the PPEX ATS. NCPS is a broker-dealer registered with the Commission and a member of FINRA and SIPC. Neither the company nor the manager matches any orders or executes or settles any transfer of interests with respect to secondary trading on the PPEX ATS. The manager may elect not to transmit to the Executing Broker or the PPEX ATS any order information submitted by users who have not previously purchased securities issued by the company or its affiliates pursuant to Regulation A.

 

Secondary trades of series interests matched on the PPEX ATS are intended to comply with Blue Sky laws either through a manual exemption in states where available, through a direct filing with the state securities regulators where required, or as isolated non-issuer transactions.  

 

Process for Secondary Transactions

 

During specific trading windows, which we expect to occur quarterly and announce at least a week in advance of such trading window, isolated non-issuer transactions in interests of one or more series may be effected during trading hours established by NCPS as operator of the PPEX ATS (“Market Hours”) in accordance with the following process. Investors can submit bid and ask quotes through the user interface provided by the Arrived platform during a trading window. The Arrived platform immediately and automatically routes the quotes (i) to the Executing Broker, and (ii) by virtue of the Executing Broker’s status as a member of the PPEX ATS, to the PPEX ATS, which is owned and operated by NCPS, a registered broker-dealer. The PPEX ATS then matches orders in accordance with the rules established by the PPEX ATS, but no matching of buyers and sellers will occur other than during Market Hours in a trading window. Bid and ask quotes submitted during a trading window and Market Hours may be immediately matched by the PPEX ATS, while bid and ask quotes submitted during a trading window, but outside of Market Hours are eligible to match only upon the next commencement of Market Hours. To the extent that any bid or ask quote that does not result in a match still exists at the end of a trading window, such quote will be cancelled at the end of the relevant trading window.

 

Once matched by the PPEX ATS, orders are executed by the Executing Broker. When a trade is executed, the Executing Broker transmits the applicable information (including the number of interests and price at which they are being sold or purchased) to the Arrived platform, where it is displayed to the relevant investor. During Market Hours in a particular trading window, the Arrived platform periodically sends instructions regarding the transfer of funds for executed trades via the Executing Broker to Modern Treasury, Inc., the third-party holder of investor funds (“Modern Treasury”), which then effectuates the funds transfer between the buyer and seller. After Market Hours end, the Executing Broker provides instructions regarding any transfers of interests between investor accounts to the transfer agent, which transfers the interests accordingly. The clearing process, which includes the transfer of funds and interests, will be completed within one to two days following the conclusion of the relevant trading window. Neither the Arrived platform nor the Executing Broker clears or settles trades.

 

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User Interface and Role of the Platform

 

The Arrived platform serves merely as the user interface for the purpose of enabling secondary market trading in interests. On the Arrived platform, investors input the details of any orders to buy or sell interests in secondary transactions (including the number of interests subject to the offer to buy or sell, as the case may be, and the price, if any, at which such offer is being made), and the orders then are routed (i) to the Executing Broker, and (ii) by virtue of the Executing Broker’s status as a member of the PPEX ATS, to the PPEX ATS. The manager may elect not to transmit to the Executing Broker or the PPEX ATS any order information submitted by users who have not previously purchased securities issued by the company or its affiliates pursuant to Regulation A. For clarity, because the Executing Broker is (i) a registered broker-dealer and a member of the PPEX ATS and (ii) licensed to use the Arrived platform to access and transmit order information entered onto the Arrived platform by Investors, such order information is automatically routed from the Arrived platform to both the Executing Broker and the PPEX ATS simultaneously. After the Executing Broker has executed a trade, information about the matched orders and executed trade is then communicated by the Executing Broker to the buyer and seller using the Arrived platform’s user interface. The PPEX ATS accepts orders transmitted from the Arrived platform only because the Executing Broker (which is a member of the PPEX ATS) is licensed to use the Arrived platform’s technology to transmit order information.

 

For the avoidance of doubt, the decision whether to engage in secondary market trading is left solely to the individual investors. Neither the company nor any of its affiliates acts as a broker or dealer, and none of them provide investors any direction or recommendation as to the purchase or sale of any interests in secondary market transactions. In addition, neither the Executing Broker nor NCPS makes any direction or recommendation as to the purchase or sale of any interests.

 

The Arrived platform acts as a user interface to receive information from, and deliver and display information to, investors and the registered broker-dealers. None of the company the manager or Arrived Holdings, Inc. will receive any compensation for its role in the trading procedure unless and until it, or one of its affiliates, registers as a broker-dealer. The manager or one of its affiliates in the future may register as a broker-dealer under state and federal securities laws, at which time it may charge fees in respect of trading of interests.

 

Agreements Relating to Secondary Trading on the PPEX ATS

 

The company intends to enter into an agreement (the “PPEX ATS Company Agreement”) with NCPS, pursuant to which NCPS will review the company’s and series’ governing documents, offering materials and regulatory filings so that the PPEX ATS may serve as an available venue for the potential resale transactions in interests to be conducted in accordance with the process described above. The PPEX ATS provides a matching platform for the Executing Broker as a broker-dealer member of the PPEX ATS to submit bid and ask quotes to purchase or sell interests on behalf of, and as directed by, investors.

 

 The manager intends to enter into a Software and Services License Agreement with NCIT, the parent company of NCPS. Under this agreement, the Arrived platform’s technology is connected via an application programming interface to the PPEX ATS to facilitate the routing of information from the Arrived platform as a user interface to the PPEX ATS as described above.

 

The company also intends to enter into an agreement with the Executing Broker (the “Secondary Brokerage Agreement”), separate and apart from the Broker Dealer Agreement. Pursuant to the Secondary Brokerage Agreement, the Executing Broker will perform certain services in support of the secondary trading of interests on the PPEX ATS and will ultimately be responsible for the execution of secondary trades of interests. As compensation, the Executing Broker will receive up to 5% of the gross proceeds received related to each transaction (2.5% from the buyer and 2.5% from the seller involved in such transaction). The manager may, from time to time and at its sole discretion, opt to pay the compensation earned by the Executing Broker in connection with its services related to the PPEX ATS. 

 

Asset Management Fee

 

Each series will pay the manager an annual asset management fee equal to six tenths of a percent (0.6%) of the purchase price of the series property for that series. This fee will be paid out of the net operating rental income of a series on a quarterly basis. 

 

Operating Expenses

 

Each series of our company will be responsible for the following costs and expenses attributable to the activities of our company related to such series (we refer to these as Operating Expenses):

 

  ● any and all fees, costs and expenses incurred in connection with the management of a series property, including Home Ownership Association (HOA) fees, income taxes, marketing, security and maintenance;

 

  ● any fees, costs and expenses incurred in connection with preparing any reports and accounts of each series, including any blue sky filings required in order for interest in a series to be made available to investors in certain states and any annual audit of the accounts of such series (if applicable) and any reports to be filed with the Commission including periodic reports on Forms 1-K, 1-SA and 1-U;

 

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  ● any and all insurance premiums or expenses, including directors and officers insurance of the directors and officers of the manager or a property manager, in connection with the series property;

 

  ● any withholding or transfer taxes imposed on our company or a series or any of the members as a result of its or their earnings, investments or withdrawals;

 

  ● any governmental fees imposed on the capital of our company or a series or incurred in connection with compliance with applicable regulatory requirements;

 

  ● any legal fees and costs (including settlement costs) arising in connection with any litigation or regulatory investigation instituted against our company, a series or a property manager in connection with the affairs of our company or a series;

 

  ● the fees and expenses of any administrator, if any, engaged to provide administrative services to our company or a series; 

 

  ● any fees, costs and expenses of a third-party registrar and transfer agent appointed by the manager in connection with a series;

 

  ● the cost of the audit of our company’s annual financial statements and the preparation of its tax returns and circulation of reports to investors;

 

  ● the cost of any audit of a series annual financial statements and the fees, costs and expenses incurred in connection with making of any tax filings on behalf of a series and circulation of reports to investors;

 

  ● any indemnification payments to be made pursuant to the requirements of the operating agreement;

 

  ● the fees and expenses of our company’s or a series’ counsel in connection with advice directly relating to our company’s or a series’ legal affairs;

 

  ● the costs of any other outside appraisers, valuation firms, accountants, attorneys or other experts or consultants engaged by the manager in connection with the operations of our company or a series; and

 

  ● any similar expenses that may be determined to be Operating Expenses, as determined by the manager in its reasonable discretion.

 

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The manager will bear its own expenses of an ordinary nature, including all costs and expenses on account of rent, supplies, secretarial expenses, stationery, charges for furniture, fixtures and equipment, payroll taxes, remuneration and expenses paid to employees and utilities expenditures.

 

If the Operating Expenses exceed the amount of revenues generated from a series property and cannot be covered by any Operating Expense reserves on the balance sheet of such series property, the manager may (a) pay such Operating Expenses and not seek reimbursement, (b) loan the amount of the Operating Expenses to the applicable series, on which the manager may impose a reasonable rate of interest, and be entitled to reimbursement of such amount from future revenues generated by such series property (which we refer to as Operating Expenses Reimbursement Obligation(s)), and/or (c) cause additional interests to be issued in the such series in order to cover such additional amounts.

 

Allocations of Expenses

 

To the extent relevant, Offering Expenses, Acquisition Expenses, Operating Expenses, revenue generated from series properties and any indemnification payments made by the manager will be allocated among the various series interests in accordance with the manager’s allocation policy set forth below. The allocation policy requires the manager to allocate items that are allocable to a specific series to be borne by, or distributed to (as applicable), the applicable series.  If, however, an item is not allocable to a specific series but to our company in general, it will be allocated pro rata based on the value of the series properties or the number of properties, as reasonably determined by the manager or as otherwise set forth in the allocation policy. By way of example, as of the date hereof it is anticipated that revenues and expenses will be allocated as follows:

 

Revenue or Expense Item   Details   Allocation Policy (if revenue or expense is
not clearly allocable to a specific series property)
Revenue   Each of the series will have monthly rental income from the series property.   Allocable directly to the applicable series property
         
Acquisition Expenses   Appraisal and valuation fees (if incurred pre-closing)   Allocable directly to the applicable series property
    Appraisal and valuation fees (if incurred post-closing)   Allocable directly to the applicable series property
    Pre-purchase inspection   Allocable directly to the applicable series property
    Closing Costs   Allocable directly to the applicable series property
    Interest expense, if any, when an underlying series property is purchased by a series through a loan prior to the closing of a series offering   Allocable directly to the applicable series property
         
Offering Expenses   Legal expenses related to the preparation of regulatory paperwork (offering materials) for a series   Not allocable; to be borne by the manager
    Audit and accounting work related to the regulatory paperwork or a series   Allocable directly to the applicable series property
    Compliance work including diligence related to the preparation of a series   Not allocable; to be borne by the manager
    Insurance of a series property as at time of acquisition   Allocable directly to the applicable series property
    Broker fees other than cash commissions (e.g., expense reimbursement)  Brokerage fee payable per filing of a Form 1-A Post-Qualification Amendment ($1,000 per 1-A POS)   Not allocable; to be borne by the manager  Allocable directly to the applicable series
    Preparation of marketing materials   Not allocable; to be borne by the manager
         
Operating Expense   Property management fees   Allocable directly to the applicable series property
    Asset management fees   Allocable directly to the applicable series property
    Audit and accounting work related to the regulatory paperwork of a Series   Allocable pro rata to the number of series properties
    Security (e.g., surveillance and patrols)   Allocable pro rata to the value of each series property
    Insurance   Allocable directly to the applicable series property
    Maintenance   Allocable directly to the applicable series property
    Property marketing or lease concessions, including special offers and terms   Allocable directly to the applicable series property
    Property disposition fee   Allocable directly to the applicable series property
    Interest expense, if any, when a series property holds any type of term loan or line of credit   Allocable directly to the applicable series property
    Audit, accounting and bookkeeping related to the reporting requirements of a series   Allocable pro rata to the number of series properties
         
Indemnification Payments   Indemnification payments under the operating agreement   Allocable pro rata to the value of each series property

 

Notwithstanding the foregoing, the manager may revise and update the allocation policy from time to time in its reasonable discretion without further notice to the investors.

 

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The Arrived Platform

 

Arrived Holdings, Inc., the sole member of Arrived Fund Manager, LLC, our manager, owns and operates a web-based and mobile accessible investment platform, the Arrived platform. Through the use of the Arrived platform, investors can browse and screen the investments offered by each of our series, now existing or to be formed by our company in the future, and electronically sign legal documents to purchase series interests.

 

Competition

 

There are a number of established and emerging competitors in the real estate investment platform market. The market is fragmented, rapidly evolving, competitive, and with relatively low barriers to entry. We consider our competitive differentiators in our market to be:

 

  ● our focus on the single-family residential rental market;

 

  ● the ability for users to select which rental properties they would like to invest in;

 

  ● consistent rental income with use of moderate amounts of leverage;

 

  ● our unique investment strategy and approach to market selection;

 

  ● lower minimum investment amounts; and

 

  ● favorable tax treatment associated with REIT elections.

 

We face competition primarily from other real estate investment platform companies such as Roofstock, Inc., Fundrise LLC, and Compound Projects, LLC, as well as a range of emerging new entrants. In order to compete, we work tirelessly to innovate and improve our products, while at the same time preserving our unique culture and approach.

 

Conflicts of Interest

 

Conflicts of interest may exist or could arise in the future with the manager and its affiliates and our officers and/or directors who are also officers and/or directors of the manager. Conflicts may include, without limitation:

 

  ● Each of our executive officers will also serve as an officer of other the manager and its affiliated entities.  As a result, these persons will have a conflict of interest with respect to our agreements and arrangements with the manager and/or affiliates of the manager, which were not negotiated at arm’s length, and their terms may not have been as favorable to us as if they had been negotiated at arm’s length with an unaffiliated third party.  The manager is not required to make available any particular individual personnel to us.

 

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  ● Our executive officers will not be required to devote a specific amount of time to our affairs.  As a result, we cannot provide any assurances regarding the amount of time the manager will dedicate to the management of our business.  Accordingly, we may compete with manager and any of its current and future programs, funds, vehicles, managed accounts, ventures or other entities owned and/or managed by the manager or one of its affiliates, which we refer to collectively as the manager-sponsored vehicles, for the time and attention of these officers in connection with our business.  We may not receive the level of support and assistance that we might otherwise receive if we were internally managed.

 

  ● Some or all of the series will acquire their properties from the manager or from an affiliate of the manager. Prior to a sale to a series, the manager will acquire a property, repair and improve the property, and seek to place a tenant in the property. The manager will then resell the property to a series at a value determined by the manager or affiliate of the manager, which may reflect a premium over the manager’s investment in the property. Accordingly, because the manager will be an interested party with respect to a sale of a property that it owns to a series, the manager’s interests in such a sale may not be aligned with the interests of the series or its investors. There can be no assurance that a property purchase price that a series will pay to the manager will be comparable to that which a series might pay to an unaffiliated third party property seller.

 

  ● The manager may in the future form or sponsor additional manager-sponsored vehicles, which could have overlapping investment objectives. To the extent we have sufficient capital to acquire a property that the manager has determined to be suitable for us, that property will be allocated to us.

 

  ● The manager does not assume any responsibility beyond the duties specified in the operating agreement and will not be responsible for any action of our board of directors in following or declining to follow the manager’s advice or recommendations.  The manager’s liability is limited under the operating agreement and we have agreed to reimburse, indemnify and hold harmless the manager and its affiliates, with respect to all expenses, losses, damages, liabilities, demands, charges and claims in respect of, or arising from acts or omissions of, such indemnified parties not constituting bad faith, willful misconduct, gross negligence or reckless disregard of the manager’s duties under the operating agreement which has a material adverse effect on us.  As a result, we could experience poor performance or losses for which the manager would not be liable.

 

Employees

 

Our company does not have any employees. All of the officers and directors of our company are employees of the manager.

 

Legal Proceedings

 

None of our company, any series, the manager, or any director or executive officer of our company or the manager is presently subject to any material legal proceedings.

 

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operation

 

Overview

 

Arrived Homes, LLC, a Delaware series limited liability company, was formed in July 2020 to permit public investment in individual residential properties. We believe people should have access to the wealth creation that real estate investment can provide. We believe in passive income, conservative debt, diversification, and aligned incentives.

   

Arrived is a marketplace for investing in real estate. We buy residential properties, divide them into multiple interests, and offer them as investments on a per interest basis through our web-based platform. Investors can manage their risk by spreading their investments across a portfolio of homes and they can invest in real estate without needing to apply for mortgages or take on personal debt.

   

Arrived does all of the work of sourcing, analyzing, maintaining, and managing all of the residential properties that we acquire. We analyze every property investment across several financial, market, and demographic characteristics to support our acquisition decision-making. Every investment we make is an investment in the communities in which Arrived operates, alongside other like-minded individuals. As our community network grows, so does our access to investment and housing opportunities.

   

Arrived arranges for a property manager to operate the properties as single-family rentals for tenants who can also invest through the same process as any other member of the Arrived Platform, becoming part owners of the homes they’re staying in at that time. By investing together, we align incentives towards creating value for everyone.

  

Since its formation in July 2020, our company has been engaged primarily in acquiring properties for its series offerings, developing the financial, offering and other materials to facilitate fundraising, and taking the steps necessary to effectuate the series offerings and the management of the associated series properties. As of December 31, 2024, our company has acquired 248 properties.

   

Emerging Growth Company

 

We may elect to become a public reporting company under the Exchange Act. If we elect to do so, we will be required to publicly report on an ongoing basis as an emerging growth company, as defined in the JOBS Act, under the reporting rules set forth under the Exchange Act. For so long as we remain an emerging growth company, we may take advantage of certain exemptions from various reporting requirements that are applicable to other Exchange Act reporting companies that are not emerging growth companies, including, but not limited to:

 

  ● not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act;

 

  ● being permitted to comply with reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements; and

 

  ● being exempt from the requirement to hold a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

 

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

 

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We would expect to take advantage of these reporting exemptions until we are no longer an emerging growth company. We would remain an emerging growth company for up to five years, or until the earliest of (i) the last day of the first fiscal year in which our total annual gross revenues exceed $1 billion; (ii) the date that we become a large accelerated filer as defined in Rule 12b-2 under the Exchange Act, which would occur if the market value of our common shares that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter; or (iii) the date on which we have issued more than $1 billion in non-convertible debt during the preceding three-year period. 

 

Distributions

 

In order to qualify as a REIT, a series must distribute annually to investors at least 90% of its REIT taxable income (computed without regard to the dividends paid deduction and excluding net capital gain), and to avoid federal income and excise taxes on retained taxable income and gains it must distribute 100% of such income and gains annually. Our manager may authorize distributions in excess of those required for us to maintain our REIT status and/or avoid such taxes on retained taxable income and gains depending on our financial condition and such other factors as our manager deems relevant.

 

Our company expects the manager to make distributions of any free cash flow on a monthly or other periodic basis as determined by the manager. However, the manager may change the timing of distributions in its sole discretion. Investors will be required to update their personal information on a regular basis to make sure they receive all allocated distributions. We will utilize a “mobile wallet” feature for payment of distributions (the “Arrived Homes Wallet”). The Arrived Homes Wallet will be used to allow investors to pay for subscriptions, receive distributions and reinvest distributions.

 

Valuation Policies

 

Following the six-month introductory period, at the end of each quarterly period, our manager’s internal accountants and asset management team will calculate a net asset value (“NAV”) per interest for each series using a process that reflects, among other matters,

 

  ● an estimated value of the series property, as determined by the manager’s asset management team, including related liabilities, based upon (a) information from publicly available sources related to (i) market rents, comparable sales information and interest rates and (ii) with respect to debt, default rates and discount rates, and (b) in certain instances, reports regarding the underlying real estate provided by an independent valuation expert or automated valuation models;

 

  ● the price of liquid assets for which third party market quotes are available;

 

  ● accruals of our periodic distributions on interests in the series; and

 

  ● estimated accruals of the revenues, fees and expenses of the series where we will (a) amortize the brokerage fee, offering expenses and sourcing fee over five years and (b) include accrued fees and operating expenses, accrued distributions payable, accrued management fees and any inter-company loans extended to the series by our manager.

 

Such determinations may include subjective judgments by the manager regarding the applicability of certain inputs to market rents and comparable sales information. While we do look at capitalization rates to help us to determine whether or not to acquire a property (see “Description of Business - Our Investment Criteria” in our latest Offering Circular), we do not utilize a capitalization rate approach in determining NAV, because given the nature of the series properties as primary residences, we do not believe that the value of a series’ primary asset can be determined based solely on the series’ rental revenues as the resale value of such asset will be decided independently of the success of such rental revenues.

  

Note, however, that the determination of the NAV for the interests of each series is not based on, nor intended to comply with, fair value standards under U.S. GAAP, and such NAV may not be indicative of the price that we would receive for our assets at current market conditions. In instances where we determine that an appraisal of the series property is necessary, including, but not limited to, instances where the manager is unsure of its ability on its own to accurately determine the estimated value of such series property, or instances where third party market values for comparable properties are either nonexistent or extremely inconsistent, we will engage an appraiser that has expertise in appraising residential real estate assets, to act as our independent valuation expert. The independent valuation expert is not responsible for, nor for preparing, our NAV per interest. See “Description of the Securities Being Offered⸺Valuation Policies” in our latest Offering Circular for more details about the NAV and how it will be calculated, including the subsection “NAV Estimates Determination and Valuation Methodology” for additional information regarding our manager’s NAV valuation methodology. 

 

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Critical Accounting Policies

 

Our accounting policies will conform with GAAP. The preparation of financial statements in conformity with GAAP will require us to use judgment in the application of accounting policies, including making estimates and assumptions. These judgments may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. We intend to make these estimates and assumptions in an appropriate manner and in a way that accurately reflects our financial condition. We will continually test and evaluate our estimates and assumptions using our historical knowledge of the business, as well as other factors, to ensure that they are reasonable for reporting purposes. However, actual results may differ from our estimates and assumptions.

 

We believe our critical accounting policies govern the significant judgments and estimates used in the preparation of our financial statements. Please refer to Note 2, Summary of Significant Accounting Policies, included in the financial statements, for a more thorough discussion of our accounting policies and procedures.

  

Operating Results

 

Revenues

 

Revenues are generated at the series level and are derived from leases on the series property. All revenues generated by each series during the years ended December 31, 2024 and 2023 are listed in the table below. Such amounts are based on the audited financial statements of the company and each series included in this Annual Report on Form 1-K:

 

RENTAL REVENUE
Applicable Series  December 31,
2024		   December 31,
2023		   Notes
100  $17,600   $42,815  
101   37,140    16,094  
Abbington   31,830    32,827    
Abernant   16,264    -    
Alvin   27,840    4,640    
Amber   21,835    22,740    
Apollo   14,726    18,035    
Aster   18,840    14,135    
Augusta   23,940    6,384    
Avebury   17,587    22,360    
Avondale   18,209    7,783    
Badminton   26,130    22,620    
Ballinger   22,418    -    
Bandelier   19,459    26,340    
Baron   27,163    34,740    
Basil   19,134    15,109    
Bayside   25,925    25,830    
Bazzel   21,861    10,920    
Bedford   19,004    26,622    
Bella   23,340    -    
Belle   31,373    20,321    
Belvedere   27,540    14,382    
Bergenia   19,440    6,231    
Blossom   17,114    15,085    
Bonneau   28,050    27,170    
Brainerd   26,940    23,141    
Braxton   22,260    20,968    
Brennan   17,836    4,616    
Briarwood   16,635    -    
Brooklyn   14,228    10,678    
Burlington   27,252    40,853    
Butter   28,052    35,404    

 

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Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Calvin   21,740    4,678    
Camino   15,216    18,345    
Campbell   -    -    
Cawley   26,340    12,731    
Centennial   14,824    21,691    
Chaparral   18,844    19,700    
Chelsea   23,470    22,930    
Chester   24,498    26,592    
Chickamauga   27,840    26,472    
Chinook   23,940    998    
Chitwood   28,620    28,895    
Clover   24,520    23,840    
Coatbridge   24,795    17,873    
Collier   27,180    24,470    
Collinston   10,396    20,121    
Conway   33,918    34,836    
Cove   4,869    13,220    
Creekside   23,370    23,265    
Creekwood   23,740    21,214    
Cumberland   16,442    20,340    
Cupcake   19,298    22,260    
Cypress   30,032    28,627    
Daisy   20,520    20,340    
Davidson   16,835    16,298    
Dawson   21,370    20,712    
Delta   12,740    -    
Dewberry   17,457    16,195    
Diablo   23,040    12,250    
Dogwood   17,644    18,808    
Dolittle   28,935    26,420    
Dolly   34,755    28,229    
Dops   17,642    13,415    
Dorchester   22,609    24,877    
Dunbar   20,065    5,941    
Eagle   25,239    24,240    
Eastfair   23,413    13,980    
Eastwood   14,270    5,432    
Elevation   15,552    5,316    
Ella   20,899    16,387    
Ellen   25,130    3,231    
Elm   17,505    12,674    
Emporia   27,695    57,096    
Ensenada   24,549    39,540    

 

16

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Falcon   25,346    24,179    
Felix   16,499    9,577    
Fenwick   21,038    13,224    
Fletcher   17,040    5,480    
Folly   27,060    26,039    
Forest   27,802    12,936    
Foster   28,188    13,703    
Franklin   25,740    9,724    
Gardens   18,790    15,167    
General   32,350    85    
Goose   25,207    23,700    
Grant   29,894    31,592    
Greenhill   33,450    27,550    
Gretal   28,740    18,310    
Grove   18,515    19,194    
Hadden   20,254    20,215    
Hansard   26,780    23,493    
Hansel   18,355    20,882    
Hargrave   11,388    -    
Harrison   33,840    35,724    
Henry   20,243    23,263    
Heritage   24,093    23,805    
Heron   23,770    24,024    
Highland   23,309    22,108    
Hines   14,838    19,465    
Hobbes   13,770    -    
Holcomb   25,740    23,327    
Holland   17,660    17,222    
Hollandaise   15,233    27,461    
Holloway   31,140    29,950    
Inglewood   35,427    35,730    
Irene   16,740    4,418    
Jack   17,782    30,590    
Jake   34,601    20,109    
Jefferson   25,740    17,875    
Jill   26,260    24,730    
Johnny   30,053    38,994    
June   20,871    39,865    
Jupiter   16,014    18,345    
Kawana   20,670    20,668    
Kennesaw   28,915    29,914    
Kenny   18,943    33,845    
KerriAnn   19,605    25,898    
Kessler   14,790    19,140    
Kingsley   27,040    28,348    
Kirkwood   19,740    19,140    
Korin   24,290    22,074    

 

17

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Lallie   26,748    14,750    
Lanier   29,373    27,392    
Lannister   12,156    16,919    
Latte   22,870    26,780    
Lennox   21,130    19,930    
Lierly   21,103    21,540    
Lily   28,170    29,780    
Limestone   19,589    11,667    
Litton   21,834    24,398    
Longwoods   23,940    10,004    
Lookout   23,491    25,122    
Loretta   39,258    36,978    
Louis   22,740    10,549    
Louise   24,085    21,376    
Lovejoy   23,790    19,572    
Luna   18,863    18,097    
Lurleen   20,390    18,698    
Madison   19,649    10,643    
Mae   25,313    23,640    
Magnolia   17,189    21,285    
Malbec   33,287    20,485    
Mammoth   16,326    18,955    
Marcelo   20,640    18,360    
Marie   29,940    24,515    
Marietta   24,151    22,045    
Marion   22,140    4,798    
Marple   8,370    7,115    
Martell   20,163    2,424    
Mary   25,140    9,916    
Matchingham   25,748    24,416    
McGregor   21,978    22,740    
McLovin   37,440    36,590    
Meadow   21,668    20,490    
Mimosa   16,265    19,123    
Mojave   18,771    20,325    
Murphy   21,570    27,540    
Mycroft   17,040    8,378    
Nugget   34,670    34,190    
Odessa   35,340    20,461    
Olive   22,925    21,640    
Oly   31,751    30,970    
Onyx   28,080    12,026    
Oscar   16,412    -    
Osceola   20,340    3,445    
Osprey   23,449    27,540    
Otoro   18,411    -    

 

18

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Palmer   20,782    -    
Patrick   17,768    19,200    
Peanut   18,080    16,275    
Pearl   32,640    12,220    
Pecan   20,315    18,899    
Peterson   19,140    2,074    
Piedmont   28,170    27,540    
Pinot   31,133    28,410    
Pioneer   32,400    37,762    
Plumtree   16,343    21,079    
Point   16,342    28,924    
Porthos   27,540    13,617    
Quincy   35,500    28,184    
Redondo   20,902    26,216    
Regency   27,660    24,564    
Reginald   25,009    32,665    
Reynolds   30,870    29,940    
Ribbonwalk   24,419    22,511    
Richardson   21,870    19,020    
Richmond   27,427    1,797    
Ridge   22,032    22,451    
Ritter   26,613    24,476    
River   27,750    23,520    
Riverwalk   25,990    28,740    
Rooney   24,396    25,140    
Roseberry   31,135    26,187    
Rosewood   22,216    21,736    
Roxy   24,660    23,940    
Saddlebred   30,865    26,945    
Saint   26,155    22,380    
Sajni   30,240    23,574    
Salem   21,034    25,230    
Salinas   20,640    17,211    
Saturn   16,385    17,085    
Scepter   19,266    20,845    
Sequoyah   13,678    16,618    
Shallowford   17,401    27,421    
Shoreline   27,260    28,825    
Sigma   28,371    27,514    
Simon   25,140    9,288    
Sims   22,140    5,535    
Soapstone   21,631    20,508    
Sodalis   22,174    19,018    
Spencer   27,548    26,554    
Splash   19,215    16,000    
Spring   20,870    20,340    
Stonebriar   17,010    16,740    
Sugar   24,600    22,628    
Summerset   23,415    18,152    
Sundance   19,055    23,709    
Sunnyside   17,906    20,388    
Swift   21,928    27,540    

 

19

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Taylor   20,858    13,313    
Terracotta   8,380    22,080    
Theodore   22,220    1,821    
Tulip   26,790    21,722    
Tuscan   24,475    29,148    
Tuscarora   29,040    21,705    
Tuxford   19,326    23,115    
Vernon   23,178    22,740    
Walton   22,553    16,712    
Wave   14,800    300    
Weldon   17,595    17,470    
Wellington   29,280    28,741    
Wentworth   24,207    17,444    
Wescott   19,440    17,107    
Westchester   27,505    32,551    
Wildwood   20,640    21,473    
Willow   13,681    20,990    
Wilson   25,770    26,665    
Winchester   21,230    6,279    
Windsor   21,155    31,772    
Winston   18,974    18,681    
Wisteria   24,578    20,845    
Arlo   8,579    -   *
Hualapai   5,265    -   *
Brentwood   2,292    -   *
Bellvue   10,690    -   *
Lorenz   6,888    -   *
Lexie   8,399    -   *
Hartsfield   3,198    -   *
   $5,559,980   $4,781,812    

 

*The following Series ceased to be offered through Arrived Homes as of December 31, 2024. As of that date, the Manager has transferred these Series out of Arrived Homes. Accordingly, these Series will no longer be included in any subsequent public reporting, financial statements, or investor communications under Arrived Homes.

 

20

 

 

Operating Expenses

 

The company incurred the following operating expenses during the years ended December 31, 2024 and 2023. The operating expenses incurred prior to the closing of an offering related to any of the series are being paid by our manager and are reimbursed by such series out of the gross offering proceeds upon closing of the relevant series offering. Such operating expenses include real estate taxes, property insurance, Home Ownership Association (HOA) fees, legal fees, other professional fees, depreciation, and repair and maintenance costs.

 

Upon closing, each individual series becomes responsible to fund its own operating expenses. The following table summarizes the total operating expenses by series as of December 31, 2024 and 2023. Such amounts are based on the audited financial statements of the company and each series included in this Annual Report on Form 1-K:

 

OPERATIONAL EXPENSES
   December 31, 2024   December 31, 2023    
Applicable Series  Operating expenses   Depreciation   Total expenses   Operating expenses   Depreciation   Total expenses   Notes
100  $20,372   $16,890   $37,261   $22,894   $11,260   $34,154  
101   20,638    17,438    38,076    40,591    17,438    58,029    
Abbington   7,917    14,494    22,411    16,901    13,825    30,726    
Abernant   11,622    6,248    17,869    6,407    1,562    7,968    
Alvin   12,261    8,735    20,996    7,740    2,184    9,924    
Amber   12,197    8,416    20,612    19,585    8,416    28,000    
Apollo   12,506    6,418    18,923    8,735    5,383    14,118    
Aster   9,780    7,009    16,789    17,241    7,014    24,255    
Augusta   11,823    8,150    19,974    10,020    4,075    14,095    
Avebury   12,689    7,990    20,679    12,011    7,990    20,001    
Avondale   13,985    9,047    23,032    16,554    4,523    21,077    
Badminton   15,087    8,461    23,548    23,046    7,252    30,298    
Ballinger   14,189    8,215    22,404    7,509    -    7,509    
Bandelier   17,139    8,268    25,406    9,115    8,183    17,298    
Baron   23,120    16,005    39,125    17,319    16,231    33,551    
Basil   7,257    5,569    12,825    13,547    5,569    19,115    
Bayside   18,297    7,050    25,346    25,791    7,050    32,841    
Bazzel   16,674    7,527    24,200    18,312    7,527    25,838    
Bedford   32,396    7,695    40,090    10,267    7,695    17,961    
Bella   16,267    8,412    24,679    19,679    3,505    23,184    
Belle   19,760    12,084    31,844    34,469    12,084    46,553    
Belvedere   12,827    8,103    20,930    14,881    4,051    18,932    
Bergenia   6,541    7,963    14,504    10,516    -    10,516    
Blossom   25,140    6,990    32,130    11,075    6,990    18,065    
Bonneau   18,271    10,275    28,545    21,562    10,275    31,837    
Brainerd   9,445    7,997    17,442    14,048    7,997    22,045    
Braxton   15,026    8,903    23,929    11,922    8,910    20,832    
Brennan   21,731    6,230    27,961    14,356    6,230    20,586    
Briarwood   6,567    5,733    12,299    9,468    1,433    10,901    
Brooklyn   5,735    5,814    11,549    20,736    5,709    26,445    
Burlington   27,315    17,832    45,146    22,804    17,832    40,636    
Butter   27,172    10,379    37,551    21,594    10,379    31,973    

 

21

 

 

   December 31, 2024   December 31, 2023    
Applicable Series  Operating expenses   Depreciation   Total expenses   Operating expenses   Depreciation   Total expenses   Notes
Calvin   10,897    6,491    17,388    8,263    2,164    10,426    
Camino   12,923    7,289    20,212    7,124    7,289    14,412    
Campbell   -    -    -    48,899    1,422    50,320    
Cawley   11,604    8,624    20,228    13,692    3,593    17,286    
Centennial   (62,008)   5,875    (56,133)   9,982    7,834    17,816    
Chaparral   9,782    5,399    15,181    8,410    5,399    13,809    
Chelsea   10,998    8,468    19,465    8,717    8,468    17,185    
Chester   14,141    10,190    24,330    12,765    11,039    23,803    
Chickamauga   11,494    10,258    21,752    20,569    10,258    30,827    
Chinook   11,809    9,903    21,712    14,894    4,126    19,020    
Chitwood   14,348    10,510    24,858    16,554    10,510    27,065    
Clover   21,452    8,793    30,245    14,658    8,793    23,451    
Coatbridge   19,973    9,052    29,025    28,314    7,991    36,305    
Collier   11,621    9,757    21,378    14,332    9,757    24,089    
Collinston   22,196    5,811    28,007    18,293    5,811    24,104    
Conway   20,954    18,876    39,829    24,181    18,892    43,072    
Cove   29,572    5,780    35,352    12,529    3,853    16,382    
Creekside   9,589    8,539    18,127    11,579    8,530    20,108    
Creekwood   12,067    7,944    20,011    16,073    7,947    24,020    
Cumberland   12,265    8,118    20,383    9,151    8,118    17,269    
Cupcake   9,502    6,550    16,052    8,320    6,550    14,870    
Cypress   19,518    10,025    29,543    18,996    10,023    29,020    
Daisy   13,508    8,276    21,784    12,028    8,276    20,304    
Davidson   15,853    5,818    21,672    15,802    5,818    21,621    
Dawson   17,531    7,235    24,766    17,970    7,235    25,205    
Delta   37,584    10,492    48,077    28,281    9,435    37,717    
Dewberry   23,005    5,225    28,231    13,954    5,225    19,179    
Diablo   15,246    7,141    22,387    12,983    7,141    20,124    
Dogwood   15,118    6,623    21,741    9,929    6,632    16,561    
Dolittle   23,473    8,443    31,916    21,883    8,443    30,326    
Dolly   20,228    18,951    39,178    19,361    18,952    38,313    
Dops   11,541    5,617    17,159    11,716    5,149    16,865    
Dorchester   20,789    9,454    30,243    27,892    9,454    37,345    
Dunbar   23,562    11,622    35,184    20,781    9,550    30,331    
Eagle   10,390    7,891    18,281    7,823    8,130    15,953    
Eastfair   19,421    5,912    25,333    19,121    5,912    25,032    
Eastwood   18,825    8,757    27,582    12,212    2,189    14,401    
Elevation   33,495    10,113    43,608    19,772    8,013    27,785    
Ella   11,986    7,174    19,159    18,145    5,978    24,123    
Ellen   8,166    6,807    14,973    12,973    2,269    15,242    
Elm   10,349    4,600    14,948    17,138    4,600    21,738    
Emporia   16,701    9,666    26,366    63,310    9,751    73,062    

 

22

 

 

   December 31, 2024   December 31, 2023    
Applicable Series  Operating expenses   Depreciation   Total expenses   Operating expenses   Depreciation   Total expenses   Notes
Ensenada   29,502    13,332    42,835    18,011    13,332    31,343    
Falcon   13,450    7,907    21,357    8,339    8,143    16,482    
Felix   7,020    8,201    15,222    11,789    3,185    14,974    
Fenwick   18,306    8,240    26,546    16,225    4,120    20,345    
Fletcher   4,512    4,824    9,336    11,568    1,608    13,176    
Folly   19,034    10,253    29,287    31,900    10,253    42,152    
Forest   22,446    12,141    34,587    19,321    9,646    28,967    
Foster   13,433    8,614    22,047    14,246    4,307    18,552    
Franklin   16,863    9,246    26,109    21,201    3,852    25,053    
Gardens   9,806    7,172    16,978    9,621    6,062    15,683    
General   15,898    8,684    24,583    17,678    3,618    21,296    
Goose   11,316    7,356    18,672    8,412    7,579    15,991    
Grant   14,500    8,902    23,403    14,339    8,902    23,242    
Greenhill   21,051    8,969    30,020    20,557    8,929    29,486    
Gretal   11,264    12,411    23,675    14,597    12,419    27,016    
Grove   15,890    8,803    24,693    8,429    8,803    17,232    
Hadden   16,114    6,053    22,167    6,275    6,007    12,283    
Hansard   10,356    8,339    18,695    16,298    7,644    23,942    
Hansel   14,250    11,127    25,377    13,782    11,127    24,910    
Hargrave   16,693    6,423    23,116    3,785    2,141    5,926    
Harrison   14,030    12,591    26,622    15,364    12,574    27,938    
Henry   34,202    11,823    46,025    33,742    11,823    45,565    
Heritage   15,466    9,012    24,477    13,042    9,012    22,054    
Heron   20,060    8,948    29,008    10,439    8,948    19,387    
Highland   12,149    7,884    20,033    9,634    7,884    17,518    
Hines   14,834    8,810    23,644    10,736    7,915    18,651    
Hobbes   16,020    6,432    22,452    6,603    2,144    8,747    
Holcomb   16,633    9,754    26,387    12,585    9,757    22,342    
Holland   10,259    5,818    16,077    13,665    5,818    19,483    
Hollandaise   22,318    10,056    32,374    12,566    10,056    22,622    
Holloway   19,240    9,344    28,583    22,816    9,344    32,160    
Inglewood   19,676    18,721    38,397    17,643    18,738    36,381    
Irene   3,895    4,824    8,719    11,377    1,608    12,985    
Jack   15,000    12,754    27,754    23,115    12,754    35,869    
Jake   34,747    16,186    50,933    26,342    16,186    42,528    
Jefferson   7,906    7,555    15,460    13,559    6,925    20,484    
Jill   10,887    10,983    21,870    11,648    10,952    22,600    
Johnny   19,054    16,094    35,149    17,567    16,096    33,663    
June   18,719    16,094    34,813    17,288    16,096    33,384    
Jupiter   10,761    5,811    16,572    10,154    5,811    15,965    

 

23

 

 

   December 31, 2024   December 31, 2023    
Applicable Series  Operating expenses   Depreciation   Total expenses   Operating expenses   Depreciation   Total expenses   Notes
Kawana   9,937    7,572    17,509    7,169    7,572    14,741    
Kennesaw   22,497    11,673    34,170    16,273    11,673    27,946    
Kenny   18,355    18,951    37,306    18,394    18,952    37,347    
KerriAnn   24,881    9,371    34,252    16,012    9,371    25,383    
Kessler   14,324    8,212    22,536    9,449    8,217    17,666    
Kingsley   21,296    8,580    29,876    25,835    8,580    34,415    
Kirkwood   9,450    7,538    16,987    8,798    7,184    15,982    
Korin   9,935    7,646    17,581    14,931    7,646    22,577    
Lallie   24,756    12,405    37,160    33,417    10,774    44,192    
Lanier   22,492    11,412    33,904    17,036    10,644    27,679    
Lannister   15,424    6,054    21,477    8,896    6,054    14,949    
Latte   18,431    10,022    28,453    15,646    10,022    25,668    
Lennox   17,730    5,956    23,686    20,022    5,956    25,978    
Lierly   10,275    5,864    16,138    7,557    5,864    13,420    
Lily   15,419    14,986    30,405    12,753    14,986    27,738    
Limestone   28,861    8,046    36,906    20,179    8,046    28,224    
Litton   13,621    8,826    22,447    12,187    8,826    21,013    
Longwoods   17,530    7,404    24,934    16,183    3,702    19,885    
Lookout   11,916    9,483    21,399    13,257    9,483    22,740    
Loretta   17,003    18,861    35,864    22,578    18,876    41,454    
Louis   8,887    7,401    16,288    12,244    3,701    15,945    
Louise   16,551    7,578    24,129    9,454    7,578    17,032    
Lovejoy   12,726    8,089    20,814    20,163    8,140    28,303    
Luna   15,956    5,912    21,868    22,720    5,912    28,632    
Lurleen   10,282    6,190    16,472    16,617    9,329    25,945    
Madison   10,375    5,655    16,031    14,995    5,655    20,650    
Mae   16,191    9,728    25,919    12,742    9,728    22,470    
Magnolia   16,687    8,308    24,995    8,967    8,308    17,274    
Malbec   14,363    8,776    23,139    14,700    8,776    23,476    
Mammoth   32,575    9,371    41,946    26,012    9,371    35,383    
Marcelo   9,571    7,822    17,393    12,339    7,822    20,161    
Marie   7,846    8,794    16,640    16,119    8,062    24,181    
Marietta   25,395    8,316    33,710    20,046    8,289    28,335    
Marion   14,763    9,039    23,803    15,483    3,963    19,447    
Marple   10,485    4,824    15,309    13,326    2,412    15,738    
Martell   18,770    7,144    25,915    18,459    3,572    22,031    
Mary   7,994    7,465    15,458    13,174    3,732    16,906    
Matchingham   16,438    5,825    22,263    19,948    5,825    25,774    
McGregor   13,499    8,264    21,763    10,866    8,264    19,130    
McLovin   19,137    12,438    31,575    22,202    12,438    34,639    
Meadow   14,769    8,820    23,589    13,308    8,820    22,128    
Mimosa   13,009    5,908    18,917    8,990    5,910    14,900    
Mojave   8,800    7,049    15,849    8,644    7,049    15,694    
Murphy   19,783    8,171    27,954    19,660    8,171    27,831    
Mycroft   4,946    4,933    9,878    12,302    2,466    14,768    

 

24

 

 

   December 31, 2024   December 31, 2023    
Applicable Series  Operating expenses   Depreciation   Total expenses   Operating expenses   Depreciation   Total expenses   Notes
Nugget   21,248    15,387    36,635    23,308    15,387    38,695    
Odessa   16,952    14,664    31,616    28,504    14,664    43,168    
Olive   15,897    7,377    23,275    25,112    7,377    32,489    
Oly   18,484    12,529    31,014    15,946    12,529    28,475    
Onyx   13,407    12,016    25,423    14,389    5,494    19,883    
Oscar   4,610    8,036    12,646    15,834    3,055    18,889    
Osceola   16,258    7,701    23,959    21,517    3,850    25,367    
Osprey   25,796    10,980    36,776    18,906    10,980    29,886    
Otoro   38,180    12,169    50,349    31,623    10,984    42,607    
Palmer   13,526    9,172    22,698    8,894    3,822    12,715    
Patrick   10,491    7,036    17,527    5,915    6,614    12,529    
Peanut   7,470    5,929    13,398    9,287    5,929    15,216    
Pearl   17,497    14,997    32,494    26,039    14,997    41,036    
Pecan   7,967    5,725    13,692    6,313    5,725    12,038    
Peterson   7,710    6,208    13,918    10,003    1,552    11,555    
Piedmont   18,768    10,544    29,312    15,643    10,526    26,169    
Pinot   15,230    8,859    24,089    14,027    8,859    22,886    
Pioneer   26,182    16,234    42,417    25,465    16,234    41,700    
Plumtree   7,419    5,535    12,954    6,949    5,535    12,484    
Point   17,448    10,500    27,948    14,180    10,500    24,680    
Porthos   17,784    8,295    26,080    16,760    3,456    20,217    
Quincy   17,985    15,029    33,014    27,223    15,029    42,252    
Redondo   21,547    8,616    30,163    23,654    8,617    32,271    
Regency   14,891    7,586    22,477    9,893    6,954    16,847    
Reginald   30,227    13,991    44,218    17,642    13,642    31,283    
Reynolds   18,835    11,810    30,645    12,635    11,810    24,445    
Ribbonwalk   19,456    8,791    28,247    12,044    8,791    20,835    
Richardson   8,609    8,642    17,251    10,808    8,646    19,454    
Richmond   25,002    10,463    35,466    8,017    2,616    10,633    
Ridge   14,341    5,983    20,324    18,258    5,983    24,241    
Ritter   22,685    13,864    36,549    36,527    13,864    50,392    
River   14,889    7,323    22,212    17,428    7,323    24,751    
Riverwalk   18,261    10,855    29,116    13,522    10,855    24,376    
Rooney   9,604    8,844    18,449    13,052    8,844    21,896    
Roseberry   14,961    9,026    23,986    11,062    9,026    20,088    
Rosewood   10,716    7,438    18,154    9,656    7,438    17,094    
Roxy   11,743    8,958    20,702    12,401    8,958    21,360    
Saddlebred   14,525    15,278    29,803    15,606    15,278    30,884    
Saint   9,604    7,582    17,186    10,109    7,562    17,671    
Sajni   18,537    11,077    29,614    22,707    8,995    31,703    
Salem   17,548    8,775    26,322    13,246    8,775    22,021    
Salinas   8,422    8,078    16,500    42,412    5,682    48,094    
Saturn   14,452    7,264    21,716    9,500    8,560    18,060    
Scepter   9,506    6,475    15,981    14,967    6,475    21,442    
Sequoyah   17,208    7,305    24,513    21,767    6,801    28,568    
Shallowford   15,924    9,917    25,841    16,286    9,928    26,214    
Shoreline   15,703    8,520    24,223    27,488    8,520    36,008    
Sigma   14,767    10,479    25,246    14,868    10,392    25,260    
Simon   7,815    7,953    15,768    14,153    3,314    17,466    

 

25

 

 

   December 31, 2024   December 31, 2023    
Applicable Series  Operating expenses   Depreciation   Total expenses   Operating expenses   Depreciation   Total expenses   Notes
Sims   12,285    7,498    19,783    10,913    3,749    14,662    
Soapstone   10,728    6,745    17,474    6,503    6,000    12,503    
Sodalis   13,329    7,959    21,288    13,959    7,959    21,918    
Spencer   15,672    8,313    23,986    19,114    8,313    27,427    
Splash   15,572    5,955    21,527    8,766    5,955    14,721    
Spring   18,520    6,803    25,323    11,971    6,803    18,774    
Stonebriar   11,383    5,574    16,957    11,852    5,574    17,426    
Sugar   15,890    8,559    24,449    16,842    8,559    25,401    
Summerset   11,970    10,115    22,085    13,734    7,528    21,261    
Sundance   17,136    10,205    27,341    18,505    10,207    28,712    
Sunnyside   9,776    6,079    15,855    11,804    5,572    17,376    
Swift   22,393    10,575    32,967    11,815    10,575    22,389    
Taylor   16,080    7,377    23,457    19,956    7,368    27,324    
Terracotta   31,290    7,573    38,863    15,129    7,573    22,702    
Theodore   9,482    7,893    17,376    10,530    3,289    13,819    
Tulip   12,630    8,726    21,356    28,167    8,726    36,893    
Tuscan   12,039    8,879    20,917    10,877    8,879    19,756    
Tuscarora   14,703    9,182    23,885    18,107    8,417    26,524    
Tuxford   24,613    7,203    31,816    19,334    7,203    26,537    
Vernon   15,525    7,238    22,762    17,455    9,650    27,105    
Walton   13,827    8,246    22,073    21,241    8,246    29,487    
Wave   52,773    9,192    61,964    18,550    9,164    27,715    
Weldon   10,268    5,811    16,080    9,252    5,811    15,063    
Wellington   20,282    12,482    32,764    18,312    12,380    30,692    
Wentworth   9,054    6,833    15,887    7,952    6,833    14,785    
Wescott   19,042    7,530    26,572    14,556    7,530    22,087    
Westchester   24,605    9,374    33,980    32,075    9,374    41,449    
Wildwood   9,168    6,063    15,231    9,510    6,063    15,573    
Willow   15,737    8,041    23,778    11,249    8,045    19,294    
Wilson   15,082    11,722    26,804    14,002    11,722    25,724    
Winchester   14,237    8,418    22,655    17,834    2,806    20,640    
Windsor   46,105    9,618    55,724    17,251    9,618    26,870    
Winston   13,960    9,039    22,999    11,897    9,039    20,936    
Wisteria   14,024    9,735    23,759    11,952    8,416    20,368    
Arlo   7,086    1,840    8,926    -    -    -   *
Hualapai   10,864    1,813    12,677    -    -    -   *
Brentwood   17,654    1,511    19,165    -    -    -   *
Bellvue   6,658    3,085    9,742    -    -    -   *
Lorenz   6,500    1,911    8,411    -    -    -   *
Lexie   17,594    2,889    20,482    -    -    -   *
Hartsfield   7,689    2,658    10,347    -    -    -   *
   $3,884,016   $2,193,651   $6,077,667   $3,898,885   $1,952,621   $5,851,506    

 

*The following Series ceased to be offered through Arrived Homes as of December 31, 2024. As of that date, the Manager has transferred these Series out of Arrived Homes. Accordingly, these Series will no longer be included in any subsequent public reporting, financial statements, or investor communications under Arrived Homes.

 

26

 

 

Other Expenses (Income)

  

During the years ended December 31, 2024 and 2023, some series incurred interest expenses, including bridge financing interest and amortization of loan fees. The following table summarizes the total of such expenses incurred by each series during the years ended December 31, 2024 and 2023. Such amounts are based on the audited financial statements of the company and each series included in this Annual Report on Form 1-K:

 

OTHER EXPENSES
Applicable Series  December 31,
2024		   December 31,
2023		   Notes
100  $-   $-  
101   48    -    
Abbington   -    -    
Abernant   -    -    
Alvin   -    -    
Amber   7,876    7,857    
Apollo   7,848    9,714    
Aster   8,721    8,447    
Augusta   -    -    
Avebury   7,957    7,942    
Avondale   -    -    
Badminton   8,187    8,140    
Ballinger   -    -    
Bandelier   9,577    9,577    
Baron   -    -    
Basil   6,183    5,306    
Bayside   7,773    7,746    
Bazzel   59    -    
Bedford   7,609    7,669    
Bella   -    -    
Belle   64    -    
Belvedere   -    -    
Bergenia   -    -    
Blossom   20    -    
Bonneau   -    -    
Brainerd   10,073    9,415    
Braxton   29    493    
Brennan   9,085    8,989    
Briarwood   -    -    
Brooklyn   5,801    5,389    
Burlington   -    -    
Butter   10,323    10,260    

 

27

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Calvin   -    -    
Camino   -    -    
Campbell   -    -    
Cawley   -    -    
Centennial   14,115    8,876    
Chaparral   4,400    4,353    
Chelsea   8,429    8,429    
Chester   12,658    12,323    
Chickamauga   -    -    
Chinook   14    -    
Chitwood   -    -    
Clover   -    -    
Coatbridge   8,269    8,878    
Collier   -    -    
Collinston   5,428    5,349    
Conway   32    493    
Cove   79    -    
Creekside   -    -    
Creekwood   9,863    9,590    
Cumberland   -    -    
Cupcake   5,998    5,839    
Cypress   12,358    12,091    
Daisy   -    -    
Davidson   5,798    5,758    
Dawson   6,903    6,838    
Delta   9,129    8,870    
Dewberry   5,722    5,672    
Diablo   8,210    8,133    
Dogwood   -    -    
Dolittle   8,138    8,121    
Dolly   -    -    
Dops   -    -    
Dorchester   -    -    
Dunbar   111    -    
Eagle   9,059    9,059    
Eastfair   7,057    7,012    
Eastwood   -    -    
Elevation   8,184    8,257    
Ella   -    5,844    
Ellen   -    -    
Elm   5,046    4,393    
Emporia   9,623    9,580    
Ensenada   15,342    15,313    

 

28

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Falcon   9,059    9,059    
Felix   -    -    
Fenwick   -    -    
Fletcher   -    -    
Folly   18    -    
Forest   10,767    10,604    
Foster   -    -    
Franklin   -    -    
Gardens   6,573    6,543    
General   -    -    
Goose   8,440    8,440    
Grant   10,126    10,126    
Greenhill   8,909    8,909    
Gretal   -    -    
Grove   7,576    7,546    
Hadden   5,622    5,622    
Hansard   -    -    
Hansel   13,586    13,542    
Hargrave   -    -    
Harrison   15,639    15,237    
Henry   340    -    
Heritage   9,770    9,718    
Heron   9,636    12,004    
Highland   -    -    
Hines   -    -    
Hobbes   -    -    
Holcomb   -    -    
Holland   5,758    5,758    
Hollandaise   10,025    9,298    
Holloway   10,347    10,320    
Inglewood   -    493    
Irene   -    -    
Jack   12,795    12,769    
Jake   40    -    
Jefferson   -    -    
Jill   13,696    13,337    
Johnny   52    15,288    
June   25    15,288    
Jupiter   6,542    6,523    
Kawana   7,532    7,532    
Kennesaw   -    -    
Kenny   -    -    
KerriAnn   9,374    9,310    
Kessler   8,734    10,641    
Kingsley   10,082    10,040    
Kirkwood   8,742    8,716    
Korin   -    -    

 

29

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Lallie   11,383    11,228    
Lanier   12,658    12,626    
Lannister   7,227    7,176    
Latte   -    -    
Lennox   6,561    6,535    
Lierly   5,524    5,407    
Lily   12,347    12,174    
Limestone   8,000    8,504    
Litton   11,112    10,385    
Longwoods   -    -    
Lookout   -    -    
Loretta   5,000    -    
Louis   -    -    
Louise   8,033    8,033    
Lovejoy   8,057    6,866    
Luna   7,061    7,013    
Lurleen   8,900    8,279    
Madison   6,286    7,160    
Mae   -    -    
Magnolia   10,050    9,985    
Malbec   9,781    9,781    
Mammoth   11,509    11,389    
Marcelo   -    -    
Marie   -    -    
Marietta   10,413    10,077    
Marion   -    -    
Marple   -    -    
Martell   -    -    
Mary   -    -    
Matchingham   5,733    5,733    
McGregor   -    -    
McLovin   14,380    14,358    
Meadow   8,406    8,406    
Mimosa   8,252    7,793    
Mojave   6,480    6,971    
Murphy   8,107    8,109    
Mycroft   -    -    
Nugget   -    -    
Odessa   14,726    14,631    
Olive   5,951    5,899    
Oly   14,382    14,385    
Onyx   -    -    
Oscar   -    -    
Osceola   19    -    
Osprey   -    -    
Otoro   10,940    10,727    

 

30

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Palmer   -    -    
Patrick   4,471    4,374    
Peanut   7,044    8,433    
Pearl   -    -    
Pecan   4,657    4,557    
Peterson   -    -    
Piedmont   13,098    12,753    
Pinot   9,882    9,889    
Pioneer   -    -    
Plumtree   6,044    3,226    
Point   12,840    12,810    
Porthos   -    -    
Quincy   56    4,708    
Redondo   12,090    11,352    
Regency   11,100    10,299    
Reginald   84    493    
Reynolds   -    -    
Ribbonwalk   8,793    8,761    
Richardson   -    -    
Richmond   -    -    
Ridge   6,565    6,963    
Ritter   47    -    
River   8,035    8,035    
Riverwalk   -    -    
Rooney   10,151    10,654    
Roseberry   9,863    9,848    
Rosewood   9,063    9,050    
Roxy   10,595    10,554    
Saddlebred   13,056    12,993    
Saint   8,293    8,293    
Sajni   83    -    
Salem   9,967    9,967    
Salinas   55    -    
Saturn   6,556    6,523    
Scepter   7,396    7,396    
Sequoyah   8,658    8,048    
Shallowford   12,342    11,991    
Shoreline   9,858    9,896    
Sigma   10,536    10,536    
Simon   -    -    
Sims   -    -    
Soapstone   5,426    5,265    
Sodalis   -    -    
Spencer   9,134    9,109    
Splash   5,198    4,882    
Spring   -    -    
Stonebriar   6,486    6,443    
Sugar   9,411    10,060    
Summerset   7,813    7,746    
Sundance   12,108    11,352    
Sunnyside   -    -    
Swift   -    -    

 

31

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Taylor   7,878    6,904    
Terracotta   8,758    8,706    
Theodore   -    -    
Tulip   10,687    10,621    
Tuscan   7,578    7,227    
Tuscarora   -    -    
Tuxford   7,056    6,987    
Vernon   7,135    7,117    
Walton   79    10,173    
Wave   9,016    8,761    
Weldon   5,349    5,349    
Wellington   -    -    
Wentworth   6,249    6,258    
Wescott   8,347    8,291    
Westchester   9,335    9,700    
Wildwood   6,148    6,148    
Willow   -    -    
Wilson   -    -    
Winchester   -    -    
Windsor   10,711    10,623    
Winston   -    -    
Wisteria   9,957    9,932    
Arlo   7,001    -   *
Hualapai   7,605    -   *
Brentwood   6,009    -   *
Bellvue   12,681    -   *
Lorenz   9,089    -   *
Lexie   9,223    -   *
Hartsfield   13,431    -   *
   $1,230,452   $1,198,358    

 

*The following Series ceased to be offered through Arrived Homes as of December 31, 2024. As of that date, the Manager has transferred these Series out of Arrived Homes. Accordingly, these Series will no longer be included in any subsequent public reporting, financial statements, or investor communications under Arrived Homes.

 

32

 

 

Liquidity and Capital Resources

  

From inception, our manager has financed the business activities of each series. Upon the first closing of a particular series offering, the manager is reimbursed out of the proceeds of the relevant offering. Until such time as the series have the capacity to generate cash flows from operations, our manager may cover any deficits through capital contributions, which may be reimbursed upon closing of the relevant offering.

 

Cash and Cash Equivalent Balances

 

Cash is held at the series level. The following table summarizes the cash and cash equivalents held by each series as of December 31, 2024 and 2023. Such amounts are based on the audited financial statements of the company and each series included in this Annual Report on Form 1-K:

 

Cash and Cash Equivalents
Applicable Series  December 31,
2024		   December 31,
2023		   Notes
100  $14,219   $29,547  
101   4,848    5,396    
Abbington   10,672    10,509    
Abernant   12,076    546    
Alvin   26,090    4,872    
Amber   3,964    3,401    
Apollo   1,694    518    
Aster   5,281    1,362    
Augusta   19,643    20,996    
Avebury   3,606    2,956    
Avondale   6,934    16,728    
Badminton   5,085    317    
Ballinger   12,717    25,175    
Bandelier   6,425    14,176    
Baron   13,820    18,044    
Basil   6,984    1,067    
Bayside   4,921    1,125    
Bazzel   7,449    16,160    
Bedford   3,820    12,611    
Bella   6,160    13,396    
Belle   6,393    5,101    
Belvedere   16,602    20,507    
Bergenia   15,462    16,933    
Blossom   7,063    24,959    
Bonneau   5,771    10,093    
Brainerd   17,919    3,743    
Braxton   6,295    10,873    
Brennan   4,049    1,356    
Briarwood   15,889    21,004    
Brooklyn   4,299    171    
Burlington   5,097    12,564    
Butter   5,879    222    

 

33

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Calvin   20,020    22,562    
Camino   7,713    16,603    
Campbell   -    -    
Cawley   17,482    21,791    
Centennial   -    9,087    
Chaparral   9,712    18,793    
Chelsea   8,741    2,782    
Chester   10,082    4,291    
Chickamauga   18,721    28,234    
Chinook   6,864    7,395    
Chitwood   13,968    12,399    
Clover   3,654    12,229    
Coatbridge   4,367    223    
Collier   5,342    13,986    
Collinston   1,002    650    
Conway   6,782    4,086    
Cove   2,682    14,802    
Creekside   10,948    14,662    
Creekwood   9,400    901    
Cumberland   10,567    21,941    
Cupcake   8,611    12,632    
Cypress   4,137    20,606    
Daisy   6,204    18,365    
Davidson   1,690    2,931    
Dawson   3,807    -    
Delta   3,316    1,789    
Dewberry   1,707    -    
Diablo   5,138    1,951    
Dogwood   8,906    10,714    
Dolittle   5,223    941    
Dolly   7,104    12,293    
Dops   5,867    9,336    
Dorchester   5,646    9,281    
Dunbar   426    829    
Eagle   13,114    8,998    
Eastfair   4,031    3,306    
Eastwood   12,167    27,058    
Elevation   1,609    554    
Ella   8,722    16,261    
Ellen   22,186    18,340    
Elm   3,599    1,155    
Emporia   5,187    333    
Ensenada   5,455    19,001    

 

34

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Falcon   9,362    13,791    
Felix   7,195    16,615    
Fenwick   6,766    20,374    
Fletcher   16,718    19,609    
Folly   6,899    9,718    
Forest   6,769    972    
Foster   22,788    29,623    
Franklin   11,854    12,417    
Gardens   4,183    2,979    
General   9,492    16,134    
Goose   11,278    12,548    
Grant   6,958    7,131    
Greenhill   5,904    1,823    
Gretal   18,017    21,406    
Grove   2,003    436    
Hadden   3,675    6,140    
Hansard   18,918    23,034    
Hansel   4,001    12,324    
Hargrave   12,446    461    
Harrison   14,150    6,309    
Henry   5,077    2,683    
Heritage   7,302    23,848    
Heron   6,112    330    
Highland   5,332    8,230    
Hines   106    6,818    
Hobbes   10,734    22,214    
Holcomb   12,761    30,016    
Holland   2,840    350    
Hollandaise   3,549    5,398    
Holloway   6,286    38    
Inglewood   10,103    12,751    
Irene   17,882    22,155    
Jack   1,571    5,559    
Jake   5,636    6,324    
Jefferson   17,605    17,923    
Jill   7,824    4,740    
Johnny   7,839    33,784    
June   4,951    13,071    
Jupiter   6,961    4,172    
Kawana   9,329    2,520    
Kennesaw   10,695    28,570    
Kenny   7,269    15,768    
KerriAnn   1,987    10,143    
Kessler   2,283    1,471    
Kingsley   7,981    -    
Kirkwood   1,311    3,527    
Korin   15,433    21,973    

 

35

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Lallie   5,901    515    
Lanier   6,484    10,134    
Lannister   1,504    797    
Latte   7,920    9,117    
Lennox   3,680    4,237    
Lierly   12,250    21,077    
Lily   7,504    5,397    
Limestone   6,065    1,897    
Litton   13,102    9,012    
Longwoods   12,962    21,591    
Lookout   12,269    9,326    
Loretta   7,031    10,811    
Louis   18,130    23,129    
Louise   4,541    7,859    
Lovejoy   4,669    977    
Luna   4,217    2,813    
Lurleen   1,792    109    
Madison   5,617    2,797    
Mae   10,408    13,420    
Magnolia   6,885    24,684    
Malbec   5,920    13,690    
Mammoth   3,385    5,883    
Marcelo   7,477    15,306    
Marie   21,404    22,860    
Marietta   4,505    1,099    
Marion   3,900    21,583    
Marple   4,534    13,821    
Martell   3,557    14,172    
Mary   15,993    15,677    
Matchingham   6,184    8,340    
McGregor   6,890    9,748    
McLovin   6,004    4,318    
Meadow   3,595    1,014    
Mimosa   2,486    2,442    
Mojave   2,210    10,626    
Murphy   4,252    8,272    
Mycroft   13,827    15,368    
Nugget   7,300    15,822    
Odessa   6,061    647    
Olive   4,215    306    
Oly   7,918    12,870    
Onyx   5,934    13,900    
Oscar   3,177    44,726    
Osceola   6,913    16,995    
Osprey   9,493    12,831    
Otoro   1,310    1,822    

 

36

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Palmer   6,345    22,375    
Patrick   6,535    8,850    
Peanut   6,822    167    
Pearl   6,421    24,130    
Pecan   12,097    18,851    
Peterson   16,634    21,117    
Piedmont   9,652    3,086    
Pinot   7,603    16,588    
Pioneer   7,993    7,950    
Plumtree   10,009    23,770    
Point   4,225    8,937    
Porthos   14,714    28,240    
Quincy   7,047    6,547    
Redondo   4,546    1,352    
Regency   14,652    8,982    
Reginald   3,677    12,317    
Reynolds   16,194    34,185    
Ribbonwalk   7,225    287    
Richardson   13,581    19,245    
Richmond   16,627    2,672    
Ridge   4,424    1,258    
Ritter   7,416    6,086    
River   4,648    8,965    
Riverwalk   14,359    11,665    
Rooney   7,631    3,987    
Roseberry   2,382    2,190    
Rosewood   6,677    2,222    
Roxy   6,359    4,069    
Saddlebred   7,936    9,534    
Saint   12,217    21,695    
Sajni   6,044    6,958    
Salem   2,035    10,972    
Salinas   5,932    14,381    
Saturn   3,172    4,379    
Scepter   3,385    4,796    
Sequoyah   3,513    2,000    
Shallowford   3,698    4,335    
Shoreline   7,940    -    
Sigma   8,321    7,893    
Simon   17,998    18,491    
Sims   12,444    17,985    
Soapstone   6,932    16,910    
Sodalis   6,783    5,917    
Spencer   7,027    597    
Splash   6,893    13,815    
Spring   5,343    9,230    
Stonebriar   7,013    14,993    
Sugar   3,972    2,820    
Summerset   5,299    2,097    
Sundance   3,838    7,408    
Sunnyside   14,812    21,022    
Swift   10,298    33,205    

 

37

 

 

Applicable Series  December 31,
2024		   December 31,
2023		   Notes
Taylor   3,404    1,314    
Terracotta   1,314    6,476    
Theodore   15,244    20,437    
Tulip   5,906    664    
Tuscan   15,475    17,299    
Tuscarora   11,464    18,305    
Tuxford   5,512    360    
Vernon   4,514    1,136    
Walton   6,916    4,598    
Wave   1,969    1,332    
Weldon   3,840    5,100    
Wellington   7,114    21,206    
Wentworth   8,105    11,461    
Wescott   2,273    5,493    
Westchester   7,646    -    
Wildwood   7,637    8,715    
Willow   3,572    5,756    
Wilson   8,153    16,705    
Winchester   4,347    22,928    
Windsor   4,831    4,851    
Winston   9,599    12,303    
Wisteria   6,681    10,967    
Arlo   -    -   *
Hualapai   -    -   *
Brentwood   -    -   *
Bellvue   -    -   *
Lorenz   -    -   *
Lexie   -    -   *
Hartsfield   -    -   *
   $1,881,389   $2,531,500    

 

*The following Series ceased to be offered through Arrived Homes as of December 31, 2024. As of that date, the Manager has transferred these Series out of Arrived Homes. Accordingly, these Series will no longer be included in any subsequent public reporting, financial statements, or investor communications under Arrived Homes.

 

38

 

 

Plan of Operations

 

We intend to hold and manage the series properties for five to seven years during which time we will operate the series properties as single-family rental income properties. During this period, we intend to distribute any Free Cash Flow to investors.

  

As each of our properties reaches what we believe to be its optimum value, we will consider disposing of the property. The determination of when a particular property should be sold or otherwise disposed of will be made after consideration of relevant factors, including prevailing and projected economic conditions, whether the value of the property is anticipated to appreciate or decline substantially, local regulatory changes, environmental and other factors that may reduce the desirability of single-family rentals in a particular market, and how operating history may impact the potential sales price. The manager may determine that it is in the best interests of members to sell a property earlier than five years or to hold a property for more than seven years.

  

We plan to launch a number of additional series and related offerings in the next twelve months.  As of the current date, we do not know how many series we will be offering. However, in any case, the aggregate dollar amount of all of the series interests that we will sell within the 12-month period will not exceed the maximum amount allowed under Regulation A. It is anticipated that the proceeds from any offerings closed during the next twelve months will be used to acquire additional properties.

 

Our Policies for Approving New Tenants 

 

We intend to seek out tenants for our properties who are financially responsible and capable of paying their rent. We will conduct due diligence on prospective tenant applicants by (a) verifying their incomes, (b) running credit checks, (c) performing criminal background checks, and (d) requesting references from previous landlords. While we do not have specific standards for any of these items, we will use these screening methods to determine, prior to approving a lease, whether we believe a potential lessee is financially responsible.

 

Trend Information

 

Our results of operations are affected by a variety of factors, including conditions in the financial markets and the economic and political environments, particularly in the United States. Global economic conditions, including political environments, financial market performance, interest rates, credit spreads or other conditions beyond our control are unpredictable and could negatively affect the value of the series properties, our ability to acquire and manage single family rentals and the success of our current and future offerings. In addition to the aforementioned macroeconomic trends, we believe the following factors will influence our future performance:

 

  - Recent increases in interest rates may have a negative effect on the demand for our offerings due to the attractiveness of alternative investments.

 

  - The continuing increase in prices in the United States housing market may result in difficulties in sourcing properties and meeting demand for our offerings.

 

  - Continued increases in remote work arrangements may lead to greater rental activity in our target markets.

 

39

 

 

Recent Developments

 

Revenues

  

Revenues are generated at the series level and are derived from leases on the series property. All revenues generated by any series during the period January 1, 2025 through February 28, 2025 are listed below. For the avoidance of doubt, the below amounts are unaudited.

 

RECENT REVENUES
Applicable Series  February 28,
2025		 
100  $3,811 
101   6,190 
Abbington   5,370 
Abernant   3,040 
Alvin   4,640 
Amber   3,900 
Apollo   1,355 
Aster   3,140 
Augusta   3,990 
Avebury   3,670 
Avondale   3,990 
Badminton   4,390 
Ballinger   4,190 
Bandelier   4,040 
Baron   6,240 
Basil   3,343 
Bayside   4,370 
Bazzel   3,690 
Bedford   4,640 
Bella   3,890 
Belle   5,298 
Belvedere   4,517 
Bergenia   3,240 
Blossom   3,240 
Bonneau   4,760 
Brainerd   4,690 
Braxton   3,780 
Brennan   3,190 
Briarwood   3,090 
Brooklyn   2,888 
Burlington   6,656 
Butter   5,864 

 

40

 

 

Applicable Series  February 28,
2025		 
Calvin   3,790 
Camino   3,280 
Cawley   4,390 
Centennial   - 
Chaparral   3,390 
Chelsea   3,950 
Chester   4,690 
Chickamauga   4,640 
Chinook   3,990 
Chitwood   4,850 
Clover   3,693 
Coatbridge   4,190 
Collier   4,620 
Collinston   3,190 
Conway   6,840 
Cove   3,390 
Creekside   3,950 
Creekwood   3,700 
Cumberland   3,390 
Cupcake   3,490 
Cypress   5,080 
Daisy   3,450 
Davidson   2,990 
Dawson   3,600 
Delta   4,390 
Dewberry   2,088 
Diablo   3,840 
Dogwood   3,500 
Dolittle   4,780 
Dolly   7,090 
Dops   5,216 
Dorchester   8,785 
Dunbar   732 
Eagle   4,180 
Eastfair   3,898 
Eastwood   4,790 
Elevation   2,344 
Ella   3,590 
Ellen   3,590 
Elm   2,990 
Emporia   330 
Ensenada   6,690 

 

41

 

 

Applicable Series  February 28,
2025		 
Falcon   4,240 
Felix   3,190 
Fenwick   3,700 
Fletcher   2,600 
Folly   4,530 
Forest   4,940 
Foster   4,698 
Franklin   4,290 
Gardens   3,365 
General   5,150 
Goose   3,790 
Grant   5,000 
Greenhill   5,150 
Gretal   4,790 
Grove   3,080 
Hadden   3,490 
Hansard   6,120 
Hansel   4,190 
Hargrave   7,380 
Harrison   5,640 
Henry   4,790 
Heritage   4,110 
Heron   4,100 
Highland   (1,500)
Hines   3,240 
Hobbes   3,190 
Holcomb   2,195 
Holland   3,040 
Hollandaise   3,790 
Holloway   5,190 
Inglewood   6,440 
Irene   2,790 
Jack   4,190 
Jake   5,990 
Jefferson   4,290 
Jill   4,530 
Johnny   8,985 
June   5,440 
Jupiter   3,150 
Kawana   3,500 
Kennesaw   5,280 
Kenny   6,240 
KerriAnn   3,640 
Kessler   1,725 
Kingsley   4,590 
Kirkwood   3,010 
Korin   4,130 

 

42

 

 

Applicable Series  February 28,
2025		 
Lallie   1,347 
Lanier   2,171 
Lannister   2,690 
Latte   862 
Lennox   3,640 
Lierly   3,700 
Lily   5,100 
Limestone   4,190 
Litton   4,640 
Longwoods   3,990 
Lookout   4,040 
Loretta   2,181 
Louis   3,790 
Louise   3,890 
Lovejoy   3,990 
Luna   3,790 
Lurleen   3,390 
Madison   2,998 
Mae   4,350 
Magnolia   3,290 
Malbec   4,590 
Mammoth   4,290 
Marcelo   3,530 
Marie   4,990 
Marietta   4,490 
Marion   3,690 
Marple   1,443 
Martell   3,890 
Mary   4,190 
Matchingham   4,308 
McGregor   3,930 
McLovin   6,290 
Meadow   4,450 
Mimosa   - 
Mojave   3,490 
Murphy   4,040 
Mycroft   2,840 
Nugget   2,950 
Odessa   5,890 
Olive   3,840 
Oly   5,990 
Onyx   2,340 
Oscar   - 
Osceola   3,390 
Osprey   4,770 
Otoro   4,638 

 

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Applicable Series  February 28,
2025		 
Palmer   3,790 
Patrick   3,190 
Peanut   2,900 
Pearl   2,720 
Pecan   3,550 
Peterson   3,190 
Piedmont   4,800 
Pinot   4,790 
Pioneer   6,440 
Plumtree   3,330 
Point   4,190 
Porthos   4,590 
Quincy   6,090 
Redondo   4,490 
Regency   - 
Reginald   4,035 
Reynolds   5,300 
Ribbonwalk   6,285 
Richardson   3,750 
Richmond   4,590 
Ridge   1,925 
Ritter   4,990 
River   675 
Riverwalk   6,670 
Rooney   4,190 
Roseberry   4,790 
Rosewood   3,830 
Roxy   4,230 
Saddlebred   8,371 
Saint   4,485 
Sajni   5,040 
Salem   - 
Salinas   3,440 
Saturn   4,795 
Scepter   1,261 
Sequoyah   3,690 
Shallowford   4,240 
Shoreline   4,834 
Sigma   4,750 
Simon   4,190 
Sims   3,690 
Soapstone   3,800 
Sodalis   1,710 
Spencer   4,698 
Splash   3,380 
Spring   3,600 
Stonebriar   2,880 
Sugar   4,050 
Summerset   3,890 
Sundance   4,290 
Sunnyside   3,240 
Swift   4,390 

 

44

 

 

Applicable Series  February 28,
2025		 
Taylor   4,018 
Terracotta   1,203 
Theodore   4,040 
Tulip   4,490 
Tuscan   4,870 
Tuscarora   2,820 
Tuxford   3,855 
Vernon   3,900 
Walton   3,790 
Wave   2,265 
Weldon   2,990 
Wellington   5,081 
Wentworth   3,760 
Wescott   3,240 
Westchester   7,725 
Wildwood   3,440 
Willow   3,090 
Wilson   4,550 
Winchester   5,300 
Windsor   2,514 
Winston   3,680 
Wisteria   4,290 
   $955,110 

 

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Operating Expenses

 

The company incurred the following operating expenses during the period January 1, 2025 through February 28, 2025. The operating expenses incurred prior to the closing of an offering related to any of the series are being paid by our manager and are reimbursed by such series out of the gross offering proceeds upon closing of the relevant series offering. Such operating expenses include real estate taxes, property insurance, Home Ownership Association (HOA) fees, legal fees, other professional fees, depreciation, and repair and maintenance costs. Upon closing, each series becomes responsible for its own operating expenses.

 

During the period January 1, 2025 through February 28, 2025, at the close of the respective offerings for the series, each individual series became or will become, as applicable, responsible for its own operating expenses. The following table summarizes the total operating expenses incurred by each series during the period January 1, 2025 through February 28, 2025. For the avoidance of doubt, the below amounts are unaudited.

 

RECENT OPERATIONAL EXPENSES
February 28, 2025
Applicable Series  Operating Expenses   Depreciation   Total Expenses 
100  $4,091   $2,815   $6,906 
101   10,581    2,906    13,487 
Abbington   2,383    2,416    4,799 
Abernant   1,491    1,041    2,533 
Alvin   1,803    1,456    3,259 
Amber   1,430    1,403    2,832 
Apollo   1,353    1,311    2,664 
Aster   1,970    1,168    3,138 
Augusta   1,799    1,358    3,158 
Avebury   1,696    1,332    3,028 
Avondale   2,239    1,508    3,747 
Badminton   3,040    1,410    4,450 
Ballinger   8,750    1,369    10,119 
Bandelier   2,094    1,378    3,472 
Baron   2,468    2,668    5,135 
Basil   1,869    928    2,797 
Bayside   4,335    1,175    5,510 
Bazzel   2,695    1,254    3,949 
Bedford   4,756    1,282    6,038 
Bella   1,846    1,402    3,248 
Belle   2,827    2,014    4,841 
Belvedere   2,275    1,350    3,625 
Bergenia   1,698    995    2,693 
Blossom   1,617    1,165    2,782 
Bonneau   2,308    1,712    4,020 
Brainerd   1,844    1,333    3,176 
Braxton   2,041    1,484    3,524 
Brennan   2,117    1,038    3,155 
Briarwood   1,758    955    2,713 
Brooklyn   1,741    969    2,710 
Burlington   3,300    2,972    6,272 
Butter   3,458    1,730    5,188 

 

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Applicable Series  Operating Expenses   Depreciation   Total Expenses 
Calvin   1,327    1,082    2,409 
Camino   1,259    1,215    2,474 
Cawley   6,710    1,437    8,147 
Centennial   14    -    14 
Chaparral   2,088    900    2,988 
Chelsea   1,615    1,411    3,027 
Chester   2,229    1,698    3,927 
Chickamauga   2,127    1,710    3,836 
Chinook   2,481    1,651    4,132 
Chitwood   1,755    1,752    3,507 
Clover   1,876    1,466    3,341 
Coatbridge   2,089    1,509    3,598 
Collier   1,932    1,626    3,558 
Collinston   3,210    969    4,179 
Conway   3,506    3,146    6,652 
Cove   4,070    963    5,034 
Creekside   1,796    1,423    3,219 
Creekwood   2,209    1,324    3,533 
Cumberland   1,584    1,353    2,937 
Cupcake   1,534    1,092    2,626 
Cypress   2,036    1,671    3,707 
Daisy   1,427    1,379    2,807 
Davidson   1,697    970    2,666 
Dawson   2,413    1,206    3,619 
Delta   4,538    1,842    6,380 
Dewberry   2,357    871    3,228 
Diablo   3,406    1,190    4,596 
Dogwood   3,299    1,104    4,402 
Dolittle   2,814    1,407    4,221 
Dolly   2,664    3,158    5,823 
Dops   1,302    936    2,238 
Dorchester   1,323    1,576    2,899 
Dunbar   16,780    1,937    18,717 
Eagle   2,234    1,315    3,549 
Eastfair   3,806    985    4,791 
Eastwood   1,651    1,459    3,110 
Elevation   1,253    1,685    2,938 
Ella   2,028    1,196    3,223 
Ellen   2,856    1,135    3,990 
Elm   1,949    767    2,716 
Emporia   5,543    1,611    7,154 
Ensenada   4,951    2,222    7,173 

 

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Applicable Series  Operating Expenses   Depreciation   Total Expenses 
Falcon   2,675    1,318    3,993 
Felix   1,637    1,367    3,004 
Fenwick   1,956    1,373    3,330 
Fletcher   1,781    804    2,585 
Folly   3,350    1,709    5,059 
Forest   2,707    2,023    4,731 
Foster   1,676    1,436    3,111 
Franklin   3,072    1,541    4,613 
Gardens   961    1,195    2,157 
General   2,235    1,447    3,683 
Goose   3,046    1,226    4,272 
Grant   2,590    1,484    4,074 
Greenhill   3,036    1,495    4,531 
Gretal   2,364    2,069    4,432 
Grove   2,308    1,467    3,775 
Hadden   3,102    1,009    4,111 
Hansard   2,120    1,390    3,510 
Hansel   2,317    1,855    4,172 
Hargrave   3,498    1,071    4,568 
Harrison   2,147    2,099    4,246 
Henry   2,339    1,971    4,309 
Heritage   2,883    1,502    4,385 
Heron   3,827    1,491    5,319 
Highland   4,480    1,314    5,794 
Hines   1,440    1,468    2,908 
Hobbes   1,722    1,072    2,794 
Holcomb   1,812    1,626    3,438 
Holland   2,877    970    3,847 
Hollandaise   2,135    1,676    3,811 
Holloway   2,899    1,557    4,456 
Inglewood   2,893    3,120    6,013 
Irene   1,608    804    2,412 
Jack   1,441    2,126    3,567 
Jake   3,259    2,698    5,957 
Jefferson   1,821    1,259    3,080 
Jill   1,908    1,831    3,738 
Johnny   2,457    2,682    5,140 
June   4,452    2,682    7,134 
Jupiter   1,271    969    2,240 
Kawana   1,534    1,262    2,796 
Kennesaw   2,067    1,945    4,012 
Kenny   2,201    3,158    5,360 
KerriAnn   1,971    1,562    3,533 
Kessler   3,499    1,369    4,867 
Kingsley   3,276    1,430    4,706 
Kirkwood   2,029    1,433    3,462 
Korin   2,032    1,274    3,306 

 

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Applicable Series  Operating Expenses   Depreciation   Total Expenses 
Lallie   4,031    2,067    6,099 
Lanier   3,913    1,902    5,814 
Lannister   1,356    1,009    2,365 
Latte   9,018    1,670    10,689 
Lennox   2,230    993    3,222 
Lierly   1,101    977    2,078 
Lily   3,820    2,498    6,318 
Limestone   3,080    1,341    4,421 
Litton   2,275    1,471    3,746 
Longwoods   2,044    1,234    3,278 
Lookout   2,292    1,580    3,872 
Loretta   1,850    3,144    4,993 
Louis   1,596    1,234    2,829 
Louise   1,996    1,263    3,259 
Lovejoy   2,091    1,348    3,439 
Luna   2,342    985    3,327 
Lurleen   1,513    1,349    2,862 
Madison   1,726    943    2,668 
Mae   1,625    1,621    3,246 
Magnolia   2,398    1,385    3,783 
Malbec   2,942    1,463    4,404 
Mammoth   2,843    1,562    4,405 
Marcelo   1,566    1,304    2,870 
Marie   1,406    1,466    2,871 
Marietta   4,295    1,386    5,681 
Marion   2,343    1,537    3,881 
Marple   2,866    804    3,670 
Martell   1,928    1,191    3,119 
Mary   2,415    1,244    3,659 
Matchingham   2,301    971    3,272 
McGregor   2,137    1,377    3,515 
McLovin   3,002    2,073    5,075 
Meadow   3,440    1,470    4,910 
Mimosa   1,319    985    2,304 
Mojave   1,451    1,175    2,626 
Murphy   2,532    1,362    3,894 
Mycroft   1,394    822    2,216 
Nugget   2,364    2,565    4,928 
Odessa   3,217    2,444    5,661 
Olive   3,125    1,230    4,354 
Oly   2,723    2,088    4,811 
Onyx   1,687    2,003    3,690 
Oscar   1,863    1,339    3,202 
Osceola   2,615    1,283    3,899 
Osprey   2,516    1,830    4,346 
Otoro   1,950    2,028    3,978 

 

49

 

 

Applicable Series  Operating Expenses   Depreciation   Total Expenses 
Palmer   1,640    1,529    3,168 
Patrick   1,342    1,173    2,515 
Peanut   1,489    988    2,478 
Pearl   2,724    2,499    5,224 
Pecan   1,100    954    2,055 
Peterson   1,765    1,035    2,800 
Piedmont   4,390    1,757    6,147 
Pinot   4,716    1,476    6,192 
Pioneer   2,670    2,706    5,376 
Plumtree   5,163    923    6,085 
Point   2,132    1,750    3,882 
Porthos   2,392    1,383    3,775 
Quincy   3,977    2,505    6,482 
Redondo   2,650    1,436    4,086 
Regency   8,090    1,264    9,355 
Reginald   8,953    2,894    11,847 
Reynolds   2,071    1,968    4,039 
Ribbonwalk   5,005    1,465    6,470 
Richardson   1,696    1,440    3,136 
Richmond   2,486    1,744    4,229 
Ridge   1,878    997    2,876 
Ritter   2,666    2,311    4,977 
River   2,353    1,221    3,573 
Riverwalk   5,025    1,809    6,834 
Rooney   1,555    1,474    3,029 
Roseberry   3,751    1,504    5,255 
Rosewood   1,850    1,240    3,089 
Roxy   2,296    1,493    3,789 
Saddlebred   6,375    2,546    8,921 
Saint   1,510    1,264    2,773 
Sajni   20,533    1,846    22,380 
Salem   4,067    1,462    5,530 
Salinas   1,785    1,346    3,132 
Saturn   2,968    1,211    4,178 
Scepter   2,377    1,079    3,456 
Sequoyah   1,385    1,302    2,687 
Shallowford   2,069    1,653    3,722 
Shoreline   3,094    1,420    4,514 
Sigma   3,452    1,747    5,199 
Simon   3,491    1,325    4,817 
Sims   2,517    1,250    3,767 
Soapstone   1,245    1,373    2,618 
Sodalis   16,006    1,327    17,333 
Spencer   2,543    1,386    3,929 
Splash   1,314    993    2,306 
Spring   1,623    1,134    2,757 
Stonebriar   1,552    929    2,481 
Sugar   2,393    1,426    3,820 
Summerset   1,855    1,686    3,541 
Sundance   1,739    1,701    3,440 
Sunnyside   1,578    1,013    2,591 
Swift   1,945    1,762    3,707 

 

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Applicable Series  Operating
Expenses		   Depreciation   Total
Expenses		 
Taylor   1,970    1,230    3,200 
Terracotta   3,187    1,262    4,449 
Theodore   1,565    1,316    2,880 
Tulip   2,602    1,454    4,056 
Tuscan   2,327    1,480    3,807 
Tuscarora   2,102    1,530    3,632 
Tuxford   3,814    1,200    5,015 
Vernon   2,139    1,206    3,345 
Walton   3,986    1,374    5,361 
Wave   1,732    1,532    3,264 
Weldon   2,741    969    3,709 
Wellington   2,068    2,080    4,148 
Wentworth   1,448    1,139    2,587 
Wescott   1,682    1,255    2,937 
Westchester   3,245    1,562    4,808 
Wildwood   1,348    1,010    2,358 
Willow   1,500    1,340    2,840 
Wilson   3,089    1,954    5,043 
Winchester   2,588    1,403    3,991 
Windsor   3,491    1,603    5,094 
Winston   2,414    1,506    3,921 
Wisteria   2,654    1,622    4,277 
   $667,591   $363,435   $1,031,026 

 

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Other Expenses

 

During the period between January 1, 2025 and February 28, 2025, certain series incurred interest expenses. The following table summarizes the total of such expenses incurred by each series during the period between January 1, 2025 through February 28, 2025. For the avoidance of doubt, the below amounts are unaudited.

 

RECENT OTHER EXPENSES 
Applicable Series  February 28, 2025 
100  $- 
101   - 
Abbington   - 
Abernant   - 
Alvin   - 
Amber   1,310 
Apollo   1,299 
Aster   1,426 
Augusta   - 
Avebury   1,324 
Avondale   - 
Badminton   1,357 
Ballinger   - 
Bandelier   1,596 
Baron   - 
Basil   1,026 
Bayside   1,291 
Bazzel   - 
Bedford   1,275 
Bella   - 
Belle   - 
Belvedere   - 
Bergenia   - 
Blossom   - 
Bonneau   - 
Brainerd   1,559 
Braxton   - 
Brennan   1,498 
Briarwood   - 
Brooklyn   892 
Burlington   - 
Butter   1,710 
Calvin   - 
Camino   - 
Cawley   - 
Centennial   - 
Chaparral   727 
Chelsea   1,405 

 

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Applicable Series  February 28, 2025 
Chester   2,079 
Chickamauga   - 
Chinook   - 
Chitwood   - 
Clover   - 
Coatbridge   1,367 
Collier   - 
Collinston   891 
Conway   - 
Cove   - 
Creekside   - 
Creekwood   1,619 
Cumberland   - 
Cupcake   1,006 
Cypress   2,035 
Daisy   - 
Davidson   960 
Dawson   1,140 
Delta   1,478 
Dewberry   945 
Diablo   1,356 
Dogwood   - 
Dolittle   1,353 
Dolly   - 
Dops   - 
Dorchester   - 
Dunbar   - 
Eagle   1,510 
Eastfair   1,168 
Eastwood   - 
Elevation   1,339 
Ella   - 
Ellen   - 
Elm   835 
Emporia   1,597 
Ensenada   2,552 
Falcon   1,510 
Felix   - 
Fenwick   - 
Fletcher   - 
Folly   - 
Forest   1,767 
Foster   - 
Franklin   - 
Gardens   1,090 
General   - 
Goose   1,407 
Grant   1,688 

 

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Applicable Series  February 28, 2025 
Greenhill   1,485 
Gretal   - 
Grove   1,258 
Hadden   937 
Hansard   - 
Hansel   2,257 
Hargrave   - 
Harrison   2,569 
Henry   - 
Heritage   1,620 
Heron   1,603 
Highland   - 
Hines   - 
Hobbes   - 
Holcomb   - 
Holland   960 
Hollandaise   1,665 
Holloway   1,720 
Inglewood   - 
Irene   - 
Jack   2,128 
Jake   - 
Jefferson   - 
Jill   2,249 
Johnny   - 
June   - 
Jupiter   1,087 
Kawana   1,255 
Kennesaw   - 
Kenny   - 
KerriAnn   1,552 
Kessler   1,437 
Kingsley   1,673 
Kirkwood   1,453 
Korin   - 
Lallie   1,871 
Lanier   2,104 
Lannister   1,196 
Latte   - 
Lennox   1,089 
Lierly   914 
Lily   2,029 
Limestone   1,324 
Litton   1,720 
Longwoods   - 
Lookout   - 
Loretta   - 
Louis   - 
Louise   1,339 
Lovejoy   1,337 
Luna   1,169 
Lurleen   1,373 
Madison   1,041 

 

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Applicable Series  February 28, 2025 
Mae   - 
Magnolia   1,664 
Malbec   1,630 
Mammoth   1,898 
Marcelo   - 
Marie   - 
Marietta   1,701 
Marion   - 
Marple   - 
Martell   - 
Mary   - 
Matchingham   956 
McGregor   - 
McLovin   2,393 
Meadow   1,401 
Mimosa   1,276 
Mojave   1,080 
Murphy   1,351 
Mycroft   - 
Nugget   - 
Odessa   2,438 
Olive   983 
Oly   2,397 
Onyx   - 
Oscar   - 
Osceola   - 
Osprey   - 
Otoro   1,788 
Palmer   - 
Patrick   750 
Peanut   1,174 
Pearl   - 
Pecan   781 
Peterson   - 
Piedmont   2,151 
Pinot   1,647 
Pioneer   - 
Plumtree   775 
Point   2,135 
Porthos   - 
Quincy   - 
Redondo   1,870 
Regency   1,717 
Reginald   - 
Reynolds   - 
Ribbonwalk   1,460 
Richardson   - 
Richmond   - 
Ridge   1,094 
Ritter   - 
River   1,339 
Riverwalk   - 
Rooney   1,688 
Roseberry   1,641 
Rosewood   1,508 
Roxy   1,759 

 

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Applicable Series  February 28, 2025 
Saddlebred   2,165 
Saint   1,382 
Sajni   - 
Salem   1,661 
Salinas   - 
Saturn   1,087 
Scepter   1,233 
Sequoyah   1,333 
Shallowford   2,023 
Shoreline   1,645 
Sigma   1,756 
Simon   - 
Sims   - 
Soapstone   894 
Sodalis   - 
Spencer   1,518 
Splash   834 
Spring   - 
Stonebriar   1,074 
Sugar   1,569 
Summerset   1,291 
Sundance   1,870 
Sunnyside   - 
Swift   - 
Taylor   1,287 
Terracotta   1,451 
Theodore   - 
Tulip   1,770 
Tuscan   1,235 
Tuscarora   - 
Tuxford   1,164 
Vernon   1,186 
Walton   - 
Wave   1,460 
Weldon   891 
Wellington   - 
Wentworth   1,042 
Wescott   1,382 
Westchester   1,548 
Wildwood   1,025 
Willow   - 
Wilson   - 
Winchester   - 
Windsor   1,770 
Winston   - 
Wisteria   1,655 
   $188,449 

 

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Cash and Cash Equivalent Balances

 

Cash is held at the series level. The following table summarizes the cash and cash equivalents held by series as of February 28, 2025. For the avoidance of doubt, the below amounts are unaudited.

 

RECENT CASH & CASH EQUIVILENTS
Applicable Series  February 28,
2025		 
100  $10,470 
101   3,858 
Abbington   7,627 
Abernant   12,455 
Alvin   23,732 
Amber   4,592 
Apollo   1,838 
Aster   5,062 
Augusta   20,505 
Avebury   3,841 
Avondale   8,081 
Badminton   4,820 
Ballinger   15,277 
Bandelier   6,645 
Baron   16,050 
Basil   7,309 
Bayside   2,778 
Bazzel   3,539 
Bedford   4,270 
Bella   6,884 
Belle   8,058 
Belvedere   17,548 
Bergenia   15,659 
Blossom   7,085 
Bonneau   4,229 
Brainerd   16,132 
Braxton   7,097 
Brennan   3,810 
Briarwood   14,472 
Brooklyn   5,753 
Burlington   7,677 
Butter   6,074 

 

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Applicable Series  February 28,
2025		 
Calvin   19,520 
Camino   8,260 
Cawley   17,334 
Chaparral   9,436 
Chelsea   9,010 
Chester   10,282 
Chickamauga   15,679 
Chinook   7,656 
Chitwood   10,106 
Clover   4,408 
Coatbridge   3,247 
Collier   5,070 
Collinston   1,427 
Conway   3,288 
Cove   3,240 
Creekside   11,088 
Creekwood   8,829 
Cumberland   8,302 
Cupcake   8,661 
Cypress   3,649 
Daisy   5,705 
Davidson   1,439 
Dawson   3,638 
Delta   2,033 
Dewberry   1,517 
Diablo   5,222 
Dogwood   8,476 
Dolittle   3,051 
Dolly   3,224 
Dops   9,379 
Dorchester   146 
Dunbar   2,234 
Eagle   12,627 
Eastfair   2,788 
Eastwood   10,241 
Elevation   1,940 
Ella   4,570 
Ellen   21,565 
Elm   3,583 
Emporia   1,641 
Ensenada   4,888 

 

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Applicable Series  February 28,
2025		 
Falcon   9,006 
Felix   7,994 
Fenwick   10,908 
Fletcher   19,321 
Folly   3,259 
Forest   6,748 
Foster   17,125 
Franklin   11,224 
Gardens   4,476 
General   10,540 
Goose   8,822 
Grant   6,707 
Greenhill   5,339 
Gretal   14,550 
Grove   1,972 
Hadden   1,738 
Hansard   21,733 
Hansel   3,583 
Hargrave   15,974 
Harrison   14,590 
Henry   7,480 
Heritage   6,862 
Heron   5,570 
Highland   1,517 
Hines   1,288 
Hobbes   8,648 
Holcomb   13,236 
Holland   2,868 
Hollandaise   3,354 
Holloway   5,864 
Inglewood   5,787 
Irene   16,998 
Jack   2,242 
Jake   8,583 
Jefferson   15,458 
Jill   7,926 
Johnny   2,394 
June   2,315 
Jupiter   7,326 
Kawana   9,776 
Kennesaw   9,511 
Kenny   3,631 
KerriAnn   1,838 
Kessler   1,638 
Kingsley   5,190 
Kirkwood   3,707 
Korin   16,284 

 

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Applicable Series  February 28,
2025		 
Lallie   3,586 
Lanier   2,191 
Lannister   1,429 
Latte   9,976 
Lennox   3,571 
Lierly   13,363 
Lily   7,352 
Limestone   4,769 
Litton   11,299 
Longwoods   9,062 
Lookout   9,513 
Loretta   7,732 
Louis   18,491 
Louise   4,971 
Lovejoy   4,467 
Luna   3,898 
Lurleen   3,131 
Madison   5,594 
Mae   5,236 
Magnolia   5,863 
Malbec   6,169 
Mammoth   3,069 
Marcelo   7,850 
Marie   19,150 
Marietta   3,069 
Marion   5,003 
Marple   2,607 
Martell   5,049 
Mary   14,231 
Matchingham   6,207 
McGregor   4,247 
McLovin   6,271 
Meadow   4,507 
Mimosa   700 
Mojave   2,591 
Murphy   3,867 
Mycroft   13,298 
Nugget   8,921 
Odessa   6,093 
Olive   3,422 
Oly   8,829 
Onyx   5,237 
Oscar   3,975 
Osceola   9,884 
Osprey   4,159 
Otoro   2,095 

 

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Applicable Series  February 28,
2025		 
Palmer   7,268 
Patrick   5,949 
Peanut   6,576 
Pearl   6,192 
Pecan   12,851 
Peterson   16,904 
Piedmont   8,441 
Pinot   6,571 
Pioneer   8,309 
Plumtree   10,512 
Point   3,815 
Porthos   11,219 
Quincy   6,878 
Redondo   1,336 
Regency   2,833 
Reginald   4,364 
Reynolds   18,332 
Ribbonwalk   5,363 
Richardson   13,416 
Richmond   17,759 
Ridge   4,494 
Ritter   7,738 
River   4,621 
Riverwalk   15,399 
Rooney   7,508 
Roseberry   4,476 
Rosewood   6,817 
Roxy   5,953 
Saddlebred   13,841 
Saint   12,174 
Sajni   11,463 
Salem   1,647 
Salinas   6,501 
Saturn   3,955 
Scepter   1,641 
Sequoyah   4,551 
Shallowford   3,801 
Shoreline   6,732 
Sigma   8,150 
Simon   15,991 
Sims   13,071 
Soapstone   8,308 
Sodalis   7,591 
Spencer   7,155 
Splash   7,721 
Spring   2,515 
Stonebriar   6,705 
Sugar   4,628 
Summerset   5,053 
Sundance   4,971 
Sunnyside   14,767 
Swift   11,863 

 

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Applicable Series  February 28,
2025		 
Taylor   3,703 
Terracotta   1,824 
Theodore   13,887 
Tulip   5,531 
Tuscan   16,728 
Tuscarora   13,042 
Tuxford   4,681 
Vernon   4,373 
Walton   8,050 
Wave   1,962 
Weldon   3,995 
Wellington   7,486 
Wentworth   8,359 
Wescott   2,214 
Westchester   2,400 
Wildwood   7,619 
Willow   3,745 
Wilson   9,087 
Winchester   4,997 
Windsor   3,498 
Winston   9,994 
Wisteria   6,006 
   $1,790,392 

 

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Item 3. Directors AND Officers

 

General

 

The manager of our company is Arrived Fund Manager, LLC, a Delaware limited liability company. The manager has established a board of directors for our company, consisting of two members, Ryan Frazier and Kenneth Cason.

 

The nature of our business to be conducted or promoted by us must at all times be to engage in any lawful act or activity for which LLCs may be organized under the Delaware Limited Liability Company Act.

 

All of our directors and executive officers are employees of the manager. The executive offices of the manager are located at 1700 Westlake Avenue N, Suite 200, Seattle, WA 98109, and the telephone number of the manager’s executive offices is (814) 277-4833.

 

Executive Officers & Directors

 

The following table sets forth certain information with respect to each of the directors and executive officers of the manager:

 

Executive Officer   Age   Position Held with our Company(1) (2)   Position Held with the Manager
Ryan Frazier   36   Chief Executive Officer and Director   Chief Executive Officer, President and Director
Sue Korn   55   Chief Financial Officer   Chief Financial Officer
Kenneth Cason   38   Chief Technology Officer and Director   Chief Technology Officer and Director
Alejandro Chouza   44   Chief Operating Officer   Chief Operating Officer

 

(1) The terms in officer of Mr. Frazier, Mr. Cason, and Mr. Chouza began upon the organization of our company on July 13, 2020. Ms. Korn’s term in office began upon her appointment as CFO on January 11, 2024. The current executive officers and directors will serve in these capacities indefinitely, or until their successors are duly appointed or elected, as applicable.

 

(2) The executive officers of the manager are currently devoting a significant amount of their working time to the operations of our company to satisfy their respective responsibilities to the management of our company. Our officers will be working on a part-time basis for our business and are expected to devote at least forty (40) hours per month to the operations and management of our company.

 

Biographical Information

 

Set forth below is biographical information of our executive officers and directors.

 

Ryan Frazier, our Chief Executive Officer and a director, has served as the Chief Executive Officer, President, and a director of Arrived Holdings, Inc. since its inception in February 2019 and as CEO and director of our company since its inception. In 2011, Mr. Frazier co-founded and was the CEO of DataRank, Inc., a social media listening platform used by Fortune 500 companies, including Procter & Gamble, Coca Cola, and The Clorox Company, to garner insights from their consumers. Mr. Frazier led DataRank through a merger with Simply Measured, Inc. in 2015, and again through a merger with Sprout Social, Inc. in 2017, after which he acted in the role of General Manager, leading the integration of the Simply Measured, Inc. and Sprout Social businesses in Sprout Social’s Seattle office. Mr. Frazier is an alumnus of Y Combinator, S13, and he graduated from the University of Arkansas in 2010 with a B.S. in International Business.

 

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Sue Korn, our Chief Financial Officer, has served as the Chief Financial Officer of Arrived Holdings since January 2024. Ms. Korn began her career in equity research for diversified financial services companies at Kidder, Peabody in 1992, later moving to investment banking in Salomon Smith Barney’s Financial Institutions Group in 1997. She joined Providian Financial in 1998 where she oversaw planning and analysis, data management and reporting for a $33 billion credit card business. In 2011 she transitioned to FinTech, bringing her financial expertise to companies such as Prosper Marketplace (FP&A and back office operations), LendingClub (marketplace operations and treasury), Oportun (FP&A and accounting) and was co-founder/CFO/Head of Operations for online lender Vouch Financial. Ms. Korn graduated from Colby College with a B.A. in Philosophy/Math in 1991 and earned her M.B.A from Kellogg Graduate School of Management at Northwestern University in 1997 with majors in Finance, Management and Strategy and Organizational Behavior. She has held the Chartered Financial Analyst® designation since 1998.

 

Kenneth Cason, our Chief Technology Officer and a director, has served as the Chief Technology Officer and director of Arrived Holdings, Inc. since its inception in February 2019. Beginning in 2011, Mr. Cason served as the Co-Founder and Chief Technology Officer of DataRank, Inc. Mr. Cason worked extensively to help design and build large scale data collection, processing, and search systems. He remained employed with DataRank through two mergers; first with Simply Measured, Inc., in 2015, and then again with Sprout Social in 2017. During both mergers he worked to lead and integrate each company’s tech stack. Mr. Cason is an alumni of Y Combinator, S13, and he graduated from the University of Arkansas in 2010 with a B.S. in Computer Science and also received Associate degrees in Mathematics, Japanese and Chinese.

 

Alejandro Chouza, our Chief Operating Officer, has served as the Chief Operating Officer of Arrived Holdings, Inc. since its inception in February 2019. Mr. Chouza was previously the VP of Operations of Oyo Rooms beginning in May 2019. Prior to that, Mr. Chouza was the Regional General Manager of Uber Technologies, Inc., from September 2014 through May 2019, where he launched and managed operations in Mexico and the Northwest USA markets. Mr. Chouza graduated with a B.S. from Babson College and an M.B.A. from The Wharton School of the University of Pennsylvania.

 

There are no arrangements or understandings known to us pursuant to which any director was or is to be selected as a director or nominee. There are no agreements or understandings for any executive officer or director to resign at the request of another person and no officer or director is acting on behalf of nor will any of them act at the direction of any other person.

 

There are no family relationships between any director, executive officer, person nominated or chosen to become a director or executive officer or any significant employee.

 

The Manager and the Operating Agreement

 

The manager will be responsible for directing the management of our business and affairs, managing our day-to-day affairs, and implementing our investment strategy. The manager and its officers will not be required to devote all of their time to our business and are only required to devote such time to our affairs as their duties require.

 

The manager will perform its duties and responsibilities pursuant to the operating agreement. The manager will maintain a contractual, as opposed to a fiduciary relationship, with us and our investors. Furthermore, we have agreed to limit the liability of the manager and to indemnify the manager against certain liabilities.

 

The operating agreement further provides that our manager, in exercising its rights in its capacity as the managing member, will be entitled to consider only such interests and factors as it desires, including its own interests, and will have no duty or obligation (fiduciary or otherwise) to give any consideration to any interest of or factors affecting our company, any series of interests or any of the interest holders and will not be subject to any different standards imposed by the operating agreement, the LLC Act or under any other law, rule or regulation or in equity.  In addition, the operating agreement provides that our manager will not have any duty (including any fiduciary duty) to our company, any series or any of the interest holders.

  

64

 

 

Responsibilities of the Manager 

 

The responsibilities of the manager include:

 

  ● Investment Advisory, Origination and Acquisition Services such as approving and overseeing our overall investment strategy, which will consist of elements such as investment selection criteria, diversification strategies and asset disposition strategies;

 

  ● Offering Services such as the development of our series offerings, including the determination of their specific terms;

 

  ● Management Services such as investigating, selecting, and, on our behalf, engaging and conducting business with such persons as the manager deems necessary to the proper performance of its obligations under the operating agreement, including but not limited to consultants, accountants, lenders, technical managers, attorneys, corporate fiduciaries, escrow agents, depositaries, custodians, agents for collection, insurers, insurance agents, developers, construction companies, property managers and any and all persons acting in any other capacity deemed by the manager necessary or desirable for the performance of any of the services under the operating agreement;

 

  ● Accounting and Other Administrative Services such as maintaining accounting data and any other information concerning our activities as will be required to prepare and to file all periodic financial reports and returns required to be filed with the Commission and any other regulatory agency, including annual financial statements, and managing and performing the various administrative functions necessary for our day-to-day operations;

 

  ● Investor Services such as managing communications with our investors, including answering phone calls, preparing and sending written and electronic reports and other communications;

 

  ● Financing Services such as monitoring and overseeing the service of our debt facilities and other financings, if any; and 

 

  ● Disposition Services such as evaluating and approving potential asset dispositions, sales or liquidity transactions.

  

Manager Affiliates

 

Our manager controls eight affiliated entities also conducting offerings under Tier 2 of Regulation A:

  

Arrived Homes II, LLC – Arrived Homes II, LLC was formed on February 2, 2022 as a Delaware series limited liability company to permit public investment in individual real estate properties that will be owned by individual series of Arrived Homes II, LLC.

 

Arrived Homes 3, LLC – Arrived Homes 3, LLC was formed on January 4, 2023 as a Delaware series limited liability company to permit public investment in individual real estate properties that will be owned by individual series of Arrived Homes 3, LLC.

 

Arrived Homes 4, LLC – Arrived Homes 4, LLC was formed on July 28, 2023 as a Delaware series limited liability company to permit public investment in individual real estate properties that will be owned by individual series of Arrived Homes 4, LLC.

 

Arrived Homes 5, LLC – Arrived Homes 5, LLC was formed on July 12, 2024 as a Delaware series limited liability company to permit public investment in individual real estate properties that will be owned by individual series of Arrived Homes 5, LLC. 

 

Arrived STR, LLC – Arrived STR, LLC was formed on July 11, 2022 as a Delaware series limited liability company to permit public investment in individual real estate properties that will be owned by individual series of Arrived STR, LLC.

 

Arrived STR 2, LLC – Arrived STR 2, LLC was formed on January 12, 2023 as a Delaware series limited liability company to permit public investment in individual real estate properties that will be owned by individual series of Arrived STR 2, LLC.

 

Arrived SFR Genesis Fund, LLC– Arrived SFR Genesis Fund, LLC was formed on May 1, 2023 as a Delaware limited liability company, to originate, invest in and manage a diversified portfolio of single family residential real estate properties. 

 

Arrived Debt Fund, LLC – Arrived Debt Fund, LLC was formed on December 21, 2023 as a Delaware limited liability company to invest in and manage a diversified portfolio of residential real estate investments.

 

65

 

 

Compensation of Executive Officers

 

We do not currently have any employees nor do we currently intend to hire any employees who will be compensated directly by our company. Each of our executive officers, who are also executive officers of the manager, manages our day-to-day affairs, oversees the review, selection and recommendation of investment opportunities, services acquired properties and monitors the performance of these properties to ensure that they are consistent with our investment objectives. Each of these individuals receives compensation for his or her services, including services performed for us on behalf of the manager, from the manager. We do not intend to pay any compensation to these individuals.

 

Compensation of the Manager

 

The manager will receive compensation and reimbursement for costs incurred relating to our series offerings (e.g., Offering Expenses and Acquisition Expenses). Neither the manager nor any of its affiliates will receive any selling commissions or dealer manager fees in connection with this or other series offerings. See “Management—Management Compensation” in our offering circular and Note 7, Related Party Transactions in our financial statements for further details.

 

Item 4. Security Ownership of Management and Certain Securityholders

 

Our company is managed by Arrived Fund Manager, LLC the manager, who will also be the manager of all of our series. The manager currently does not own, and at the closing of each series offering is not expected to own, any of the interests in any series.

 

No executive officers and directors beneficially own more than 10% of any series of our company. Additionally, no other security holders beneficially own more than 10% of any series of our company.

 

The manager or an affiliate of the manager may purchase interests in any series of our company on the same terms as offered to investors. No brokerage fee will be paid on any interests purchased by the manager or its affiliates. Additionally, the manager may acquire interests in any series of our company in the event that a promissory note issued to the manager in connection with the acquisition of a series property, if outstanding, is not repaid on or prior to its maturity date, at which point, the outstanding balance of the promissory note will be converted into series interests under the same terms as in the applicable series offering.

 

The address of Arrived Fund Manager, LLC. is 1700 Westlake Avenue N, Suite 200, Seattle, WA 98109.

 

Item 5. INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN Transactions

 

Since our formation in July 2020, we have entered into a number of transactions in which we were a participant and the amount involved exceeded or exceeds the lesser of $120,000 and one percent of the average of our total assets as of the date of formation, and in which any related person had a direct or indirect material interest (other than compensation described under “Compensation of Directors and Executive Officers”). See “The Series Properties Being Offered” section in our latest offering circular, which can be accessed here, for a description of the manager’s involvement in the purchase of properties on the relevant series’ behalf and the subsequent issuance of promissory notes by the series to the manager. See “Management—Management Compensation” section in our offering circular for a description of the fees paid to the manager. We believe the terms obtained or consideration that we paid or received, as applicable, in connection with such transactions were comparable to terms available or the amounts that would be paid or received, as applicable, in arm’s-length transactions. With respect to the additional series that will be offering their interests by way of this offering circular and other future series, their properties will be acquired in accordance with one of the acquisition methods discussed in the section titled “Description of Business⸺Acquisition Mechanics” in our offering circular. Therefore, the manager is expected to continue to receive interest income from loans to the multiple series.

 

Item 6. Other Information

 

None.

 

66

 

 

Item 7. Financial Statements

 

ARRIVED HOMES, LLC AND ITS SERIES

 

CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS

 

DECEMBER 31, 2024 AND 2023

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB ID #03523)   F-2
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (PCAOB ID #00536   F-3
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2024   F-4
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2023   F-40
CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) FOR THE YEAR ENDED DECEMBER 31, 2024   F-75
CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) FOR THE YEAR ENDED DECEMBER 31, 2023   F-111
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) FOR THE YEAR ENDED DECEMBER 31, 2024   F-146
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) FOR THE YEAR ENDED DECEMBER 31, 2023   F-182
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2024   F-217
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2023   F-253
NOTES TO CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS   F-288 to F-358

 

F-1

 

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

To the Manager and Members of
Arrived Homes, LLC and its Series

Seattle, Washington

 

Opinion on the Consolidated and Consolidating Financial Statements

 

We have audited the accompanying consolidated and consolidating balance sheet of Arrived Homes, LLC and its Series (the Company) as of December 31, 2024, and the related consolidated and consolidating statements of comprehensive income (loss), changes in members’ equity (deficit), and cash flows for the year ended December 31, 2024, and the related notes (collectively referred to as the consolidated and consolidating financial statements). In our opinion, the consolidated and consolidating financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024, and the results of their operations and their cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

 

Going Concern

 

The accompanying consolidated and consolidating financial statements have been prepared assuming that the Company will continue as a going concern.  As discussed in Note 3 to the financial statements, the Company’s lack of liquidity raises substantial doubt about their ability to continue as a going concern.  Management’s plans in regard to these matters are also described in Note 3. The consolidated and consolidating financial statements do not include any adjustments that might result from the outcome of this uncertainty.  

 

Basis for Opinion

 

These consolidated and consolidating financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated and consolidating financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

 

Our audit included performing procedures to assess the risks of material misstatement of the consolidated and consolidating financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated and consolidating financial statements. We believe that our audit provide a reasonable basis for our opinion.

 

/s/ Stephano Slack LLC

 

We have served as the Company’s auditor since 2024.

 

Wayne, Pennsylvania

April 30, 2025

 

F-2

 

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

To the Manager and Members of
Arrived Homes, LLC and its Series

Seattle, Washington

 

Opinion on the Consolidated and Consolidating Financial Statements

 

We have audited the accompanying consolidated and consolidating balance sheet of Arrived Homes, LLC and its Series (the Company) as of December 31, 2023, and the related consolidated and consolidating statements of comprehensive income (loss), members’ equity (deficit), and cash flows for the period July 13, 2020 (date of inception) through December 31, 2023, and the related notes (collectively referred to as the consolidated and consolidating financial statements). In our opinion, the consolidated and consolidating financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023, and the results of their operations and their cash flows for the period July 13, 2020 (date of inception) through December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.

 

Going Concern

 

The accompanying consolidated and consolidating financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the consolidated and consolidating financial statements, the Company’s lack of liquidity raises substantial doubt about their ability to continue as a going concern.  Management’s plans in regard to these matters are also described in Note 3. The consolidated and consolidating financial statements do not include any adjustments that might result from the outcome of this uncertainty.  

 

Basis for Opinion

 

These consolidated and consolidating financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated and consolidating financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated and consolidating financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

 

Our audit included performing procedures to assess the risks of material misstatement of the consolidated and consolidating financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated and consolidating financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated and consolidating financial statements. We believe that our audit provides a reasonable basis for our opinion.

 

/s/ Morison Cogen LLP

 

We served as the Company’s auditor from 2021 to 2024.

 

Blue Bell, Pennsylvania

April 29, 2024

 

F-3

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024  

 

   100    101    Abbington    Abernant    Alvin    Amber    Apollo 
ASSETS                                   
Current assets:                                   
Cash  $14,219   $4,848   $10,672   $12,076   $26,090   $3,964   $1,694 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   662    665    764    555    781    3,109    3,152 
Due from (to) third party property managers   102    5,803    8,601    3,489    1,559    3,734    4,316 
Total current assets   14,983    11,316    20,037    16,120    28,430    10,807    9,162 
Property and equipment, net   575,664    595,785    454,162    221,276    309,375    280,333    195,299 
Total assets  $590,647   $607,102   $474,200   $237,396   $337,806   $291,140   $204,461 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $6,905   $5,654   $6,723   $2,895   $6,261   $2,679   $1,569 
Tenant deposits   -    3,095    2,845    1,745    2,545    1,950    1,345 
Due to (from) related parties   17,813    19,046    14,398    1,358    2,019    4,504    2,784 
Total current liabilities   24,718    27,795    23,966    5,998    10,824    9,133    5,699 
Mortgage payables, net   -    -    -    -    -    198,818    133,320 
Operational notes, related party   -    17,900    -    -    -    6,900    20,000 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   24,718    45,695    23,966    5,998    10,824    214,851    159,018 
Members’ equity (deficit)                                   
Members’ capital   584,173    630,298    464,920    240,972    325,421    111,583    71,017 
Retained earnings (accumulated deficit)   (18,244)   (68,891)   (14,687)   (9,574)   1,560    (35,295)   (25,574)
Total members’ equity (deficit)   565,929    561,406    450,233    231,398    326,981    76,289    45,443 
Total liabilities and members’ equity (deficit)  $590,647   $607,102   $474,200   $237,396   $337,806   $291,140   $204,461 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-4

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024  

 

   Aster   Augusta   Avebury   Avondale   Badminton   Ballinger   Bandelier 
ASSETS                            
Current assets:                            
Cash  $5,281   $19,643   $3,606   $6,934   $5,085   $12,717   $6,425 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   2,564    912    2,404    471    2,281    414    4,370 
Due from (to) third party property managers   3,783    3,905    4,320    3,977    4,789    4,838    3,529 
Total current assets   11,628    24,460    10,330    11,381    12,155    17,970    14,324 
Property and equipment, net   240,476    286,622    271,005    318,137    237,551    293,005    323,643 
Total assets  $252,103   $311,082   $281,335   $329,519   $249,706   $310,975   $337,967 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $1,708   $2,995   $1,747   $2,576   $1,967   $4,882   $1,551 
Tenant deposits   2,245    1,995    1,795    1,995    2,195    2,320    2,245 
Due to (from) related parties   3,674    2,711    4,186    3,314    3,709    1,986    4,759 
Total current liabilities   7,627    7,702    7,728    7,885    7,871    9,189    8,555 
Mortgage payables, net   124,448    -    200,942    -    172,006    -    242,616 
Operational notes, related party   9,700    -    5,400    -    17,300    -    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   141,774    7,702    214,070    7,885    197,176    9,189    251,171 
Members’ equity (deficit)                                   
Members’ capital   148,761    307,126    95,183    339,751    78,514    309,281    119,179 
Retained earnings (accumulated deficit)   (38,432)   (3,745)   (27,918)   (18,118)   (25,985)   (7,495)   (32,384)
Total members’ equity (deficit)   110,329    303,380    67,265    321,633    52,529    301,786    86,796 
Total liabilities and members’ equity (deficit)  $252,103   $311,082   $281,335   $329,519   $249,706   $310,975   $337,967 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-5

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Baron   Basil   Bayside   Bazzel   Bedford   Bella   Belle 
ASSETS                            
Current assets:                            
Cash  $13,820   $6,984   $4,921   $7,449   $3,820   $6,160   $6,393 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   800    2,164    4,634    1,366    3,460    916    1,398 
Due from (to) third party property managers   2,062    3,700    4,173    3,704    519    2,868    4,888 
Total current assets   16,682    12,848    13,728    12,519    7,799    9,944    12,679 
Property and equipment, net   542,706    184,273    233,527    251,160    261,618    296,522    413,881 
Total assets  $559,388   $197,121   $247,254   $263,679   $269,418   $306,466   $426,560 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $8,820   $1,842   $2,150   $7,393   $1,505   $4,498   $2,434 
Tenant deposits   3,345    1,595    2,619    1,845    2,295    1,945    2,649 
Due to (from) related parties   16,903    3,151    3,784    7,288    10,701    6,605    6,454 
Total current liabilities   29,068    6,588    8,552    16,526    14,501    13,048    11,536 
Mortgage payables, net   -    129,806    163,623    -    194,570    -    - 
Operational notes, related party   -    9,700    10,000    21,700    -    -    23,600 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   29,068    146,093    182,176    38,226    209,071    13,048    35,136 
Members’ equity (deficit)                                   
Members’ capital   552,801    63,701    86,632    250,601    90,397    317,941    432,714 
Retained earnings (accumulated deficit)   (22,481)   (12,674)   (21,554)   (25,148)   (30,050)   (24,522)   (41,290)
Total members’ equity (deficit)   530,319    51,027    65,078    225,453    60,346    293,418    391,424 
Total liabilities and members’ equity (deficit)  $559,388   $197,121   $247,254   $263,679   $269,418   $306,466   $426,560 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-6

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Belvedere   Bergenia   Blossom   Bonneau   Brainerd   Braxton   Brennan 
ASSETS                            
Current assets:                            
Cash  $16,602   $15,462   $7,063   $5,771   $17,919   $6,295   $4,049 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   524    346    502    1,271    672    839    3,532 
Due from (to) third party property managers   4,549    3,425    3,281    4,568    4,812    3,605    5,085 
Total current assets   21,675    19,233    10,845    11,611    23,403    10,738    12,666 
Property and equipment, net   284,951    211,029    239,996    319,096    276,412    304,942    212,325 
Total assets  $306,626   $230,262   $250,842   $330,707   $299,815   $315,681   $224,991 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,770   $2,898   $4,829   $10,180   $5,806   $2,575   $1,947 
Tenant deposits   2,295    1,845    1,845    2,295    2,595    2,045    1,545 
Due to (from) related parties   3,030    1,788    3,338    8,221    3,489    4,433    2,363 
Total current liabilities   8,095    6,532    10,011    20,696    11,890    9,053    5,855 
Mortgage payables, net   -    -    -    -    142,885    -    153,947 
Operational notes, related party   -    -    7,400    -    -    10,700    35,200 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   8,095    6,532    17,411    20,696    154,776    19,753    195,001 
Members’ equity (deficit)                                   
Members’ capital   296,472    223,079    256,305    330,505    152,880    313,277    84,906 
Retained earnings (accumulated deficit)   2,060    651    (22,875)   (20,494)   (7,840)   (17,349)   (54,916)
Total members’ equity (deficit)   298,531    223,730    233,430    310,011    145,040    295,928    29,990 
Total liabilities and members’ equity (deficit)  $306,626   $230,262   $250,842   $330,707   $299,815   $315,681   $224,991 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-7

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Briarwood   Brooklyn   Burlington   Butter   Calvin   Camino   Cawley 
ASSETS                            
Current assets:                            
Cash  $15,889   $4,299   $5,097   $5,879   $20,020   $7,713   $17,482 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   586    506    2,349    5,455    464    360    1,014 
Due from (to) third party property managers   3,387    3,535    5,494    8,779    3,620    2,221    3,951 
Total current assets   19,861    8,340    12,940    20,113    24,104    10,293    22,447 
Property and equipment, net   203,029    161,399    609,252    348,556    229,346    249,631    303,986 
Total assets  $222,890   $169,738   $622,192   $368,669   $253,450   $259,924   $326,433 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $3,931   $1,818   $8,914   $2,446   $5,159   $2,419   $3,531 
Tenant deposits   1,995    1,249    3,195    2,795    1,795    1,595    2,195 
Due to (from) related parties   1,367    2,057    23,193    5,048    1,514    3,462    3,037 
Total current liabilities   7,292    5,124    35,302    10,289    8,468    7,475    8,763 
Mortgage payables, net   -    81,790    -    259,985    -    -    - 
Operational notes, related party   -    13,100    -    24,200    -    -    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   7,292    100,014    35,302    294,474    8,468    7,475    8,763 
Members’ equity (deficit)                                   
Members’ capital   222,164    96,287    617,909    116,033    246,377    257,191    316,113 
Retained earnings (accumulated deficit)   (6,566)   (26,563)   (31,019)   (41,837)   (1,396)   (4,742)   1,557 
Total members’ equity (deficit)   215,598    69,725    586,890    74,196    244,981    252,448    317,670 
Total liabilities and members’ equity (deficit)  $222,890   $169,738   $622,192   $368,669   $253,450   $259,924   $326,433 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-8

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Centennial   Chaparral   Chelsea   Chester   Chickamauga   Chinook   Chitwood 
ASSETS                            
Current assets:                            
Cash  $-   $9,712   $8,741   $10,082   $18,721   $6,864   $13,968 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   -    353    3,509    3,849    1,074    1,161    479 
Due from (to) third party property managers   -    3,320    3,745    6,242    5,817    4,166    5,009 
Total current assets   -    13,384    15,995    20,173    25,612    12,191    19,456 
Property and equipment, net   -    176,114    287,195    349,439    354,657    300,550    359,975 
Total assets  $-   $189,498   $303,190   $369,612   $380,269   $312,742   $379,431 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $-   $5,998   $3,062   $1,966   $6,321   $3,339   $8,972 
Tenant deposits   -    1,695    1,895    3,943    3,693    1,995    2,795 
Due to (from) related parties   -    4,061    3,381    4,967    4,699    2,677    5,638 
Total current liabilities   -    11,754    8,338    10,875    14,713    8,011    17,405 
Mortgage payables, net   -    103,349    213,349    181,865    -    -    - 
Operational notes, related party   -    -    -    -    -    5,200    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   -    115,103    221,687    192,741    14,713    13,211    17,405 
Members’ equity (deficit)                                   
Members’ capital   (42,205)   74,649    99,165    208,244    361,199    315,340    366,559 
Retained earnings (accumulated deficit)   42,205    (254)   (17,661)   (31,373)   4,357    (15,809)   (4,533)
Total members’ equity (deficit)   -    74,394    81,503    176,872    365,556    299,531    362,026 
Total liabilities and members’ equity (deficit)  $-   $189,498   $303,190   $369,612   $380,269   $312,742   $379,431 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-9

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Clover   Coatbridge   Collier   Collinston   Conway   Cove   Creekside 
ASSETS                            
Current assets:                            
Cash  $3,654   $4,367   $5,342   $1,002   $6,782   $2,682   $10,948 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   756    2,989    479    2,015    1,330    630    520 
Due from (to) third party property managers   6,111    3,447    4,633    5,927    6,583    7,277    4,190 
Total current assets   10,521    10,803    10,454    8,945    14,696    10,589    15,658 
Property and equipment, net   311,203    252,996    334,188    193,420    646,284    202,300    292,652 
Total assets  $321,724   $263,799   $344,643   $202,365   $660,980   $212,889   $308,310 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,696   $2,052   $3,792   $1,778   $7,901   $1,443   $6,191 
Tenant deposits   1,995    3,143    2,445    1,595    3,645    1,695    2,395 
Due to (from) related parties   14,196    4,042    12,951    4,756    9,946    4,115    4,537 
Total current liabilities   18,887    9,236    19,188    8,128    21,492    7,252    13,123 
Mortgage payables, net   -    173,287    -    134,919    -    -    - 
Operational notes, related party   -    25,400    -    29,400    11,800    18,700    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   18,887    207,923    19,188    172,447    33,292    25,952    13,123 
Members’ equity (deficit)                                   
Members’ capital   312,983    97,440    333,813    82,897    670,024    220,661    289,869 
Retained earnings (accumulated deficit)   (10,146)   (41,564)   (8,359)   (52,978)   (42,336)   (33,725)   5,318 
Total members’ equity (deficit)   302,837    55,876    325,455    29,918    627,687    186,936    295,187 
Total liabilities and members’ equity (deficit)  $321,724   $263,799   $344,643   $202,365   $660,980   $212,889   $308,310 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-10

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Creekwood   Cumberland   Cupcake   Cypress   Daisy   Davidson   Dawson 
ASSETS                            
Current assets:                            
Cash  $9,400   $10,567   $8,611   $4,137   $6,204   $1,690   $3,807 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   4,075    576    1,886    8,906    481    3,377    3,417 
Due from (to) third party property managers   3,895    3,690    3,270    5,086    3,505    1,535    3,837 
Total current assets   17,371    14,833    13,767    18,129    10,190    6,601    11,061 
Property and equipment, net   272,288    278,720    207,979    344,386    283,453    194,082    208,863 
Total assets  $289,659   $293,553   $221,747   $362,515   $293,642   $200,684   $219,924 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $1,720   $5,129   $2,027   $2,410   $5,359   $1,753   $1,732 
Tenant deposits   1,795    2,145    1,595    2,395    1,695    1,495    1,745 
Due to (from) related parties   3,780    4,409    3,642    8,675    4,899    2,826    3,432 
Total current liabilities   7,295    11,682    7,264    13,480    11,953    6,074    6,908 
Mortgage payables, net   141,379    -    150,160    179,203    -    145,343    144,296 
Operational notes, related party   -    -    -    -    -    14,600    23,900 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   148,674    11,682    157,425    192,683    11,953    166,017    175,104 
Members’ equity (deficit)                                   
Members’ capital   165,143    285,755    65,530    205,695    287,909    71,290    81,451 
Retained earnings (accumulated deficit)   (24,158)   (3,884)   (1,207)   (35,863)   (6,220)   (36,623)   (36,632)
Total members’ equity (deficit)   140,985    281,871    64,322    169,832    281,689    34,667    44,820 
Total liabilities and members’ equity (deficit)  $289,659   $293,553   $221,747   $362,515   $293,642   $200,684   $219,924 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-11

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Delta   Dewberry   Diablo   Dogwood   Dolittle   Dolly   Dops 
ASSETS                            
Current assets:                            
Cash  $3,316   $1,707   $5,138   $8,906   $5,223   $7,104   $5,867 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   4,773    1,776    3,782    692    3,623    961    467 
Due from (to) third party property managers   4,049    5,274    5,277    1,362    341    7,369    3,045 
Total current assets   12,138    8,757    14,198    10,960    9,187    15,434    9,379 
Property and equipment, net   324,379    172,911    277,769    226,120    282,244    649,032    194,963 
Total assets  $336,517   $181,668   $291,967   $237,080   $291,431   $664,466   $204,342 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $1,990   $1,421   $4,466   $2,955   $2,649   $7,423   $1,371 
Tenant deposits   2,195    1,695    2,145    1,750    2,295    3,995    1,495 
Due to (from) related parties   5,923    4,066    4,400    6,658    4,275    11,793    2,384 
Total current liabilities   10,108    7,182    11,011    11,363    9,218    23,211    5,250 
Mortgage payables, net   224,587    119,497    205,822    -    205,508    -    - 
Operational notes, related party   95,700    18,500    28,300    -    6,300    -    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   330,395    145,179    245,132    11,363    221,026    23,211    5,250 
Members’ equity (deficit)                                   
Members’ capital   118,650    69,064    98,540    230,377    98,711    679,924    203,384 
Retained earnings (accumulated deficit)   (112,528)   (32,574)   (51,705)   (4,660)   (28,306)   (38,669)   (4,292)
Total members’ equity (deficit)   6,122    36,489    46,835    225,717    70,405    641,255    199,092 
Total liabilities and members’ equity (deficit)  $336,517   $181,668   $291,967   $237,080   $291,431   $664,466   $204,342 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-12

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Dorchester   Dunbar   Eagle   Eastfair   Eastwood   Elevation   Ella 
ASSETS                            
Current assets:                            
Cash  $5,646   $426   $13,114   $4,031   $12,167   $1,609   $8,722 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,753    447    3,476    4,268    753    2,906    518 
Due from (to) third party property managers   1,525    7,068    4,015    4,005    4,269    5,628    906 
Total current assets   8,925    7,941    20,606    12,304    17,189    10,143    10,147 
Property and equipment, net   323,793    313,068    261,146    195,634    310,133    252,465    249,878 
Total assets  $332,718   $321,009   $281,752   $207,937   $327,322   $262,608   $260,025 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $11,289   $3,353   $2,309   $1,418   $5,904   $1,795   $4,798 
Tenant deposits   2,195    2,495    1,995    1,949    2,395    1,895    1,995 
Due to (from) related parties   11,238    10,485    3,697    4,903    2,050    6,352    2,602 
Total current liabilities   24,721    16,333    8,000    8,270    10,349    10,042    9,395 
Mortgage payables, net   -    -    131,818    148,019    -    170,446    - 
Operational notes, related party   -    41,000    -    17,500    -    55,100    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   24,721    57,333    139,819    173,789    10,349    235,588    9,395 
Members’ equity (deficit)                                   
Members’ capital   342,741    322,376    145,260    59,630    339,255    101,398    262,470 
Retained earnings (accumulated deficit)   (34,745)   (58,700)   (3,328)   (25,482)   (22,282)   (74,378)   (11,840)
Total members’ equity (deficit)   307,996    263,676    141,933    34,148    316,973    27,020    250,630 
Total liabilities and members’ equity (deficit)  $332,718   $321,009   $281,752   $207,937   $327,322   $262,608   $260,025 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-13

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Ellen   Elm   Emporia   Ensenada   Falcon   Felix   Fenwick 
ASSETS                            
Current assets:                            
Cash  $22,186   $3,599   $5,187   $5,455   $9,362   $7,195   $6,766 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   734    3,375    4,157    5,781    3,571    622    952 
Due from (to) third party property managers   3,401    4,696    1,116    6,470    3,937    3,872    3,246 
Total current assets   26,321    11,669    10,460    17,706    16,870    11,689    10,964 
Property and equipment, net   240,524    151,093    327,028    518,995    261,818    245,121    289,780 
Total assets  $266,845   $162,762   $337,488   $536,701   $278,688   $256,811   $300,744 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $5,830   $1,963   $2,185   $(587)  $2,570   $2,941   $2,476 
Tenant deposits   2,693    1,495    2,495    3,195    2,345    2,393    1,850 
Due to (from) related parties   2,015    2,524    5,021    9,840    3,409    1,901    (351)
Total current liabilities   10,537    5,981    9,701    12,447    8,324    7,234    3,976 
Mortgage payables, net   -    105,868    242,664    388,700    131,809    -    - 
Operational notes, related party   -    12,400    15,700    10,700    -    -    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   10,537    124,250    268,065    411,847    140,132    7,234    3,976 
Members’ equity (deficit)                                   
Members’ capital   258,163    59,174    118,276    184,372    146,011    253,695    309,397 
Retained earnings (accumulated deficit)   (1,854)   (20,662)   (48,853)   (59,519)   (7,455)   (4,119)   (12,629)
Total members’ equity (deficit)   256,308    38,512    69,423    124,854    138,556    249,576    296,768 
Total liabilities and members’ equity (deficit)  $266,845   $162,762   $337,488   $536,701   $278,688   $256,811   $300,744 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-14

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Fletcher   Folly   Forest   Foster   Franklin   Gardens   General 
ASSETS                            
Current assets:                            
Cash  $16,718   $6,899   $6,769   $22,788   $11,854   $4,183   $9,492 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   277    1,345    5,730    410    985    1,932    869 
Due from (to) third party property managers   4,335    4,904    15,199    4,670    4,017    4,256    4,668 
Total current assets   21,329    13,148    27,698    27,868    16,856    10,371    15,029 
Property and equipment, net   170,437    297,864    328,982    302,923    293,074    210,555    306,116 
Total assets  $191,767   $311,012   $356,680   $330,791   $309,931   $220,925   $321,145 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,175   $8,803   $2,297   $7,863   $9,665   $2,136   $5,366 
Tenant deposits   1,395    2,695    2,445    2,349    2,595    1,595    2,495 
Due to (from) related parties   1,094    9,221    5,159    2,913    2,603    3,170    2,779 
Total current liabilities   4,664    20,719    9,901    13,126    14,863    6,901    10,640 
Mortgage payables, net   -    -    225,330    -    -    134,889    - 
Operational notes, related party   -    6,600    60,400    -    -    11,000    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   4,664    27,319    295,631    13,126    14,863    152,790    10,640 
Members’ equity (deficit)                                   
Members’ capital   187,094    308,675    134,412    316,374    310,765    86,092    323,949 
Retained earnings (accumulated deficit)   8    (24,982)   (73,364)   1,291    (15,698)   (17,956)   (13,444)
Total members’ equity (deficit)   187,102    283,693    61,048    317,665    295,067    68,136    310,505 
Total liabilities and members’ equity (deficit)  $191,767   $311,012   $356,680   $330,791   $309,931   $220,925   $321,145 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-15

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Goose   Grant   Greenhill   Gretal   Grove   Hadden   Hansard 
ASSETS                            
Current assets:                            
Cash  $11,278   $6,958   $5,904   $18,017   $2,003   $3,675   $18,918 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   3,510    4,759    4,322    711    3,032    3,153    660 
Due from (to) third party property managers   2,747    4,657    5,323    4,838    4,057    3,812    4,666 
Total current assets   17,535    16,374    15,549    23,565    9,093    10,640    24,244 
Property and equipment, net   243,367    346,126    303,446    426,914    217,615    204,796    289,052 
Total assets  $260,902   $362,500   $318,995   $450,479   $226,707   $215,436   $313,296 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,285   $2,164   $2,194   $6,129   $1,552   $1,371   $5,893 
Tenant deposits   1,895    -    3,119    2,395    1,869    1,645    2,450 
Due to (from) related parties   3,302    4,840    8,663    5,665    4,229    3,707    3,318 
Total current liabilities   7,482    7,003    13,976    14,189    7,650    6,723    11,661 
Mortgage payables, net   122,739    256,592    225,565    -    155,746    141,851    - 
Operational notes, related party   -    -    -    -    11,100    -    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   130,221    263,595    239,541    14,189    174,496    148,574    11,661 
Members’ equity (deficit)                                   
Members’ capital   134,914    122,739    98,384    449,556    81,372    80,789    295,324 
Retained earnings (accumulated deficit)   (4,233)   (23,834)   (18,930)   (13,266)   (29,161)   (13,927)   6,311 
Total members’ equity (deficit)   130,681    98,905    79,454    436,291    52,212    66,862    301,635 
Total liabilities and members’ equity (deficit)  $260,902   $362,500   $318,995   $450,479   $226,707   $215,436   $313,296 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-16

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Hansel   Hargrave   Harrison   Henry   Heritage   Heron   Highland 
ASSETS                            
Current assets:                            
Cash  $4,001   $12,446   $14,150   $5,077   $7,302   $6,112   $5,332 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   5,341    464    4,630    686    4,671    3,893    404 
Due from (to) third party property managers   5,064    2,880    5,677    1,442    4,245    5,107    2,664 
Total current assets   14,407    15,790    24,456    7,205    16,218    15,112    8,400 
Property and equipment, net   382,958    226,956    431,885    404,943    275,216    271,465    270,028 
Total assets  $397,365   $242,746   $456,341   $412,148   $291,434   $286,577   $278,428 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $1,895   $5,030   $3,851   $4,084   $1,423   $2,370   $5,849 
Tenant deposits   3,003    3,190    3,045    2,395    1,995    2,369    - 
Due to (from) related parties   6,909    1,100    6,039    5,792    3,954    6,189    3,724 
Total current liabilities   11,807    9,320    12,935    12,271    7,372    10,927    9,573 
Mortgage payables, net   197,578    -    225,051    -    200,929    198,843    - 
Operational notes, related party   16,200    -    -    49,500    19,300    7,100    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   225,585    9,320    237,987    61,771    227,601    216,870    9,573 
Members’ equity (deficit)                                   
Members’ capital   225,386    251,079    245,813    415,466    99,307    99,250    272,280 
Retained earnings (accumulated deficit)   (53,606)   (17,654)   (27,458)   (65,088)   (35,474)   (29,543)   (3,425)
Total members’ equity (deficit)   171,780    233,425    218,355    350,378    63,833    69,707    268,855 
Total liabilities and members’ equity (deficit)  $397,365   $242,746   $456,341   $412,148   $291,434   $286,577   $278,428 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-17

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Hines   Hobbes   Holcomb   Holland   Hollandaise   Holloway   Inglewood 
ASSETS                            
Current assets:                            
Cash  $106   $10,734   $12,761   $2,840   $3,549   $6,286   $10,103 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   292    464    434    3,294    4,384    3,625    1,753 
Due from (to) third party property managers   2,889    3,547    2,573    4,668    10,633    5,023    6,482 
Total current assets   3,287    14,744    15,768    10,802    18,566    14,934    18,338 
Property and equipment, net   246,115    227,252    333,265    193,598    341,081    309,247    640,898 
Total assets  $249,402   $241,997   $349,033   $204,399   $359,647   $324,181   $659,236 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $3,386   $5,319   $4,310   $1,573   $1,948   $2,003   $8,695 
Tenant deposits   1,845    2,393    2,095    2,168    1,895    3,119    3,445 
Due to (from) related parties   9,229    1,435    10,678    5,206    5,999    5,026    8,935 
Total current liabilities   14,460    9,147    17,083    8,946    9,842    10,148    21,075 
Mortgage payables, net   -    -    -    145,348    253,086    218,393    - 
Operational notes, related party   -    -    -    -    13,200    9,900    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   14,460    9,147    17,083    154,295    276,127    238,441    21,075 
Members’ equity (deficit)                                   
Members’ capital   251,890    250,279    344,800    81,714    134,225    117,355    674,075 
Retained earnings (accumulated deficit)   (16,949)   (17,429)   (12,849)   (31,610)   (50,706)   (31,615)   (35,913)
Total members’ equity (deficit)   234,942    232,850    331,950    50,105    83,519    85,740    638,161 
Total liabilities and members’ equity (deficit)  $249,402   $241,997   $349,033   $204,399   $359,647   $324,181   $659,236 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-18

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Irene   Jack   Jake   Jefferson   Jill   Johnny   June 
ASSETS                            
Current assets:                            
Cash  $17,882   $1,571   $5,636   $17,605   $7,824   $7,839   $4,951 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   488    4,916    1,229    1,277    6,684    811    812 
Due from (to) third party property managers   2,740    5,041    7,280    4,744    4,461    6,015    3,098 
Total current assets   21,110    11,528    14,145    23,626    18,968    14,665    8,861 
Property and equipment, net   170,437    391,556    553,020    261,716    378,245    551,194    551,194 
Total assets  $191,548   $403,084   $567,165   $285,342   $397,213   $565,859   $560,055 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $3,427   $1,397   $8,929   $5,359   $2,068   $6,769   $10,192 
Tenant deposits   1,395    3,143    2,995    2,595    2,195    2,995    2,945 
Due to (from) related parties   1,139    7,293    17,675    3,061    4,544    17,006    16,679 
Total current liabilities   5,961    11,832    29,599    11,015    8,807    26,769    29,816 
Mortgage payables, net   -    286,974    -    -    196,902    -    - 
Operational notes, related party   -    9,600    14,800    -    -    19,200    9,300 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   5,961    308,407    44,399    11,015    205,709    45,969    39,116 
Members’ equity (deficit)                                   
Members’ capital   186,133    144,715    578,700    267,982    220,502    570,461    576,837 
Retained earnings (accumulated deficit)   (547)   (50,037)   (55,934)   6,346    (28,998)   (50,571)   (55,898)
Total members’ equity (deficit)   185,586    94,678    522,766    274,328    191,504    519,889    520,939 
Total liabilities and members’ equity (deficit)  $191,548   $403,084   $567,165   $285,342   $397,213   $565,859   $560,055 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-19

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Jupiter   Kawana   Kennesaw   Kenny   KerriAnn   Kessler   Kingsley 
ASSETS                            
Current assets:                            
Cash  $6,961   $9,329   $10,695   $7,269   $1,987   $2,283   $7,981 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   2,343    3,730    868    973    2,919    2,466    658 
Due from (to) third party property managers   3,467    4,733    3,101    6,331    5,502    -    3,227 
Total current assets   12,770    17,791    14,665    14,572    10,408    4,750    11,866 
Property and equipment, net   193,416    256,799    399,798    649,032    313,036    246,253    286,793 
Total assets  $206,186   $274,590   $414,463   $663,604   $323,444   $251,002   $298,659 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $1,810   $2,082   $2,825   $7,507   $1,889   $2,816   $2,009 
Tenant deposits   1,550    2,543    2,595    3,345    1,995    -    2,869 
Due to (from) related parties   3,280    3,834    12,374    10,019    5,894    9,676    4,245 
Total current liabilities   6,640    8,458    17,794    20,871    9,778    12,493    9,122 
Mortgage payables, net   138,146    190,513    -    -    235,641    125,438    212,446 
Operational notes, related party   6,900    -    -    -    23,600    -    15,600 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   151,686    198,971    17,794    20,871    269,019    137,931    237,169 
Members’ equity (deficit)                                   
Members’ capital   80,957    90,801    415,345    684,974    117,262    147,788    96,586 
Retained earnings (accumulated deficit)   (26,457)   (15,182)   (18,676)   (42,241)   (62,837)   (34,716)   (35,096)
Total members’ equity (deficit)   54,500    75,619    396,669    642,733    54,425    113,071    61,490 
Total liabilities and members’ equity (deficit)  $206,186   $274,590   $414,463   $663,604   $323,444   $251,002   $298,659 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-20

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Kirkwood   Korin   Lallie   Lanier   Lannister   Latte   Lennox 
ASSETS                            
Current assets:                            
Cash  $1,311   $15,433   $5,901   $6,484   $1,504   $7,920   $3,680 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   4,111    362    3,517    5,241    4,549    936    1,879 
Due from (to) third party property managers   6,656    3,881    5,177    2,264    3,181    747    3,780 
Total current assets   12,079    19,677    14,594    13,988    9,234    9,604    9,339 
Property and equipment, net   251,575    264,681    345,569    357,882    167,486    343,244    197,184 
Total assets  $263,654   $284,357   $360,163   $371,870   $176,720   $352,848   $206,524 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,350   $6,258   $1,889   $1,667   $1,734   $1,371   $1,938 
Tenant deposits   2,393    1,995    2,295    -    1,395    -    1,795 
Due to (from) related parties   4,722    3,258    5,730    4,823    3,496    10,489    3,256 
Total current liabilities   9,464    11,511    9,914    6,490    6,625    11,860    6,988 
Mortgage payables, net   180,073    -    237,722    261,413    112,704    -    137,853 
Operational notes, related party   9,700    -    57,200    11,800    18,700    -    9,700 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   199,238    11,511    304,836    279,703    138,029    11,860    154,542 
Members’ equity (deficit)                                   
Members’ capital   88,079    268,373    121,831    128,754    76,536    349,273    74,191 
Retained earnings (accumulated deficit)   (23,663)   4,473    (66,504)   (36,588)   (37,844)   (8,285)   (22,209)
Total members’ equity (deficit)   64,416    272,847    55,327    92,166    38,691    340,988    51,982 
Total liabilities and members’ equity (deficit)  $263,654   $284,357   $360,163   $371,870   $176,720   $352,848   $206,524 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-21

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Lierly   Lily   Limestone   Litton   Longwoods   Lookout   Loretta 
ASSETS                            
Current assets:                            
Cash  $12,250   $7,504   $6,065   $13,102   $12,962   $12,269   $7,031 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   414    8,246    2,830    659    1,254    502    1,340 
Due from (to) third party property managers   3,530    5,510    3,725    4,686    3,952    1,301    3,518 
Total current assets   16,194    21,259    12,620    18,447    18,168    14,072    11,889 
Property and equipment, net   191,871    489,558    267,609    305,063    260,363    324,000    645,919 
Total assets  $208,065   $510,817   $280,229   $323,510   $278,531   $338,072   $657,809 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $6,394   $132   $2,322   $4,836   $7,790   $4,223   $5,307 
Tenant deposits   1,750    2,395    2,095    2,545    1,995    2,245    - 
Due to (from) related parties   3,702    7,755    4,261    4,003    2,609    9,553    14,824 
Total current liabilities   11,846    10,281    8,678    11,384    12,395    16,021    20,130 
Mortgage payables, net   129,936    308,748    200,974    157,667    -    -    - 
Operational notes, related party   -    64,000    21,400    -    -    -    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   141,781    383,029    231,052    169,051    12,395    16,021    20,130 
Members’ equity (deficit)                                   
Members’ capital   63,976    208,084    106,002    171,860    277,011    325,512    655,141 
Retained earnings (accumulated deficit)   2,308    (80,296)   (56,825)   (17,401)   (10,875)   (3,461)   (17,463)
Total members’ equity (deficit)   66,284    127,788    49,177    154,459    266,136    322,051    637,678 
Total liabilities and members’ equity (deficit)  $208,065   $510,817   $280,229   $323,510   $278,531   $338,072   $657,809 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-22

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Louis   Louise   Lovejoy   Luna   Lurleen   Madison   Mae 
ASSETS                            
Current assets:                            
Cash  $18,130   $4,541   $4,669   $4,217   $1,792   $5,617   $10,408 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   886    3,884    3,580    1,841    783    2,337    950 
Due from (to) third party property managers   6,745    4,384    2,541    3,556    3,711    4,891    6,858 
Total current assets   25,762    12,808    10,790    9,615    6,287    12,845    18,216 
Property and equipment, net   260,282    257,648    274,340    195,634    215,308    193,222    333,179 
Total assets  $286,043   $270,456   $285,130   $205,248   $221,594   $206,067   $351,396 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $3,316   $1,742   $2,230   $2,363   $2,121   $1,537   $10,369 
Tenant deposits   1,895    1,895    1,995    1,895    1,695    2,174    4,190 
Due to (from) related parties   2,337    5,855    4,262    3,086    2,533    3,840    4,862 
Total current liabilities   7,548    9,492    8,487    7,344    6,349    7,550    19,421 
Mortgage payables, net   -    180,079    203,034    148,019    108,350    99,941    - 
Operational notes, related party   -    -    12,300    17,800    7,100    15,900    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   7,548    189,571    223,822    173,162    121,799    123,391    19,421 
Members’ equity (deficit)                                   
Members’ capital   277,440    96,455    95,047    62,997    122,325    115,263    339,489 
Retained earnings (accumulated deficit)   1,056    (15,570)   (33,739)   (30,911)   (22,529)   (32,587)   (7,514)
Total members’ equity (deficit)   278,495    80,885    61,308    32,086    99,796    82,675    331,975 
Total liabilities and members’ equity (deficit)  $286,043   $270,456   $285,130   $205,248   $221,594   $206,067   $351,396 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-23

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Magnolia   Malbec   Mammoth   Marcelo   Marie   Marietta   Marion 
ASSETS                            
Current assets:                            
Cash  $6,885   $5,920   $3,385   $7,477   $21,404   $4,505   $3,900 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   2,806    2,377    4,921    336    616    3,882    2,096 
Due from (to) third party property managers   4,198    4,520    4,738    3,618    5,115    4,407    3,967 
Total current assets   13,889    12,818    13,044    11,431    27,135    12,794    9,963 
Property and equipment, net   238,626    289,658    318,618    268,570    304,617    285,389    254,770 
Total assets  $252,514   $302,475   $331,662   $280,000   $331,752   $298,183   $264,733 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $1,435   $1,963   $1,725   $2,722   $5,291   $1,422   $2,711 
Tenant deposits   3,290    2,295    2,095    1,945    2,745    2,195    2,295 
Due to (from) related parties   3,455    7,931    5,802    3,983    3,569    4,187    8,007 
Total current liabilities   8,180    12,190    9,622    8,650    11,605    7,804    13,013 
Mortgage payables, net   171,128    205,034    235,697    -    -    148,605    - 
Operational notes, related party   23,800    -    44,300    -    -    18,900    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   203,108    217,224    289,619    8,650    11,605    175,308    13,013 
Members’ equity (deficit)                                   
Members’ capital   88,617    97,775    118,575    279,890    307,839    170,613    268,032 
Retained earnings (accumulated deficit)   (39,211)   (12,523)   (76,533)   (8,540)   12,308    (47,738)   (16,312)
Total members’ equity (deficit)   49,406    85,252    42,043    271,350    320,147    122,875    251,720 
Total liabilities and members’ equity (deficit)  $252,514   $302,475   $331,662   $280,000   $331,752   $298,183   $264,733 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-24

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Marple   Martell   Mary   Matchingham   McGregor   McLovin   Meadow 
ASSETS                            
Current assets:                            
Cash  $4,534   $3,557   $15,993   $6,184   $6,890   $6,004   $3,595 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   277    898    883    2,072    416    6,157    3,236 
Due from (to) third party property managers   -    3,805    4,226    4,049    4,120    6,521    1,352 
Total current assets   4,811    8,261    21,102    12,305    11,426    18,682    8,182 
Property and equipment, net   169,633    251,246    262,506    194,017    281,657    489,481    293,884 
Total assets  $174,444   $259,507   $283,609   $206,322   $293,082   $508,162   $302,066 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $1,812   $2,485   $4,852   $2,561   $6,931   $(1,273)  $1,616 
Tenant deposits   -    1,945    2,095    1,795    1,895    3,495    - 
Due to (from) related parties   1,610    8,660    2,357    3,920    9,607    9,335    5,013 
Total current liabilities   3,422    13,090    9,304    8,276    18,433    11,556    6,629 
Mortgage payables, net   -    -    -    144,711    -    364,344    212,794 
Operational notes, related party   -    -    -    -    -    8,300    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   3,422    13,090    9,304    152,987    18,433    384,201    219,423 
Members’ equity (deficit)                                   
Members’ capital   186,584    271,776    271,612    61,698    284,878    163,948    125,471 
Retained earnings (accumulated deficit)   (15,562)   (25,359)   2,692    (8,362)   (10,228)   (39,986)   (42,828)
Total members’ equity (deficit)   171,022    246,417    274,304    53,335    274,650    123,962    82,643 
Total liabilities and members’ equity (deficit)  $174,444   $259,507   $283,609   $206,322   $293,082   $508,162   $302,066 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-25

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Mimosa   Mojave   Murphy   Mycroft   Nugget   Odessa   Olive 
ASSETS                            
Current assets:                            
Cash  $2,486   $2,210   $4,252   $13,827   $7,300   $6,061   $4,215 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   416    1,823    3,493    304    753    6,172    3,170 
Due from (to) third party property managers   1,716    3,870    3,818    3,080    6,079    6,332    6,977 
Total current assets   4,618    7,903    11,563    17,212    14,132    18,565    14,361 
Property and equipment, net   200,918    221,465    273,119    173,476    525,721    489,353    213,486 
Total assets  $205,537   $229,367   $284,682   $190,688   $539,853   $507,919   $227,847 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,279   $1,869   $2,956   $3,130   $11,841   $(1,107)  $2,194 
Tenant deposits   1,495    2,195    1,995    1,645    3,295    3,395    1,895 
Due to (from) related parties   2,839    7,936    7,472    1,797    18,978    9,268    4,248 
Total current liabilities   6,613    12,001    12,423    6,572    34,114    11,556    8,337 
Mortgage payables, net   106,022    160,242    205,200    -    -    371,327    124,324 
Operational notes, related party   -    -    -    -    -    35,100    19,000 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   112,635    172,243    217,623    6,572    34,114    417,983    151,660 
Members’ equity (deficit)                                   
Members’ capital   116,028    65,388    94,216    183,344    525,716    178,379    107,212 
Retained earnings (accumulated deficit)   (23,126)   (8,264)   (27,158)   771    (19,977)   (88,444)   (31,026)
Total members’ equity (deficit)   92,902    57,124    67,058    184,116    505,739    89,936    76,187 
Total liabilities and members’ equity (deficit)  $205,537   $229,367   $284,682   $190,688   $539,853   $507,919   $227,847 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-26

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Oly   Onyx   Oscar   Osceola   Osprey   Otoro   Palmer 
ASSETS                            
Current assets:                            
Cash  $7,918   $5,934   $3,177   $6,913   $9,493   $1,310   $6,345 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   5,720    522    1,040    3,906    1,363    3,980    948 
Due from (to) third party property managers   5,389    4,490    5,323    3,584    2,448    3,365    3,827 
Total current assets   19,028    10,946    9,540    14,404    13,304    8,655    11,119 
Property and equipment, net   490,013    325,381    246,412    270,808    332,252    372,144    287,270 
Total assets  $509,041   $336,327   $255,953   $285,211   $345,556   $380,799   $298,389 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $(356)  $5,152   $1,671   $3,271   $11,264   $1,991   $2,799 
Tenant deposits   2,995    2,295    3,390    1,695    2,295    2,319    1,895 
Due to (from) related parties   11,799    2,590    4,278    2,356    10,201    7,133    5,553 
Total current liabilities   14,438    10,037    9,339    7,322    23,760    11,443    10,246 
Mortgage payables, net   365,046    -    -    -    -    271,849    - 
Operational notes, related party   -    -    -    7,000    -    78,700    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   379,484    10,037    9,339    14,322    23,760    361,993    10,246 
Members’ equity (deficit)                                   
Members’ capital   165,693    331,490    261,736    296,449    343,894    131,900    302,774 
Retained earnings (accumulated deficit)   (36,136)   (5,200)   (15,122)   (25,560)   (22,098)   (113,093)   (14,631)
Total members’ equity (deficit)   129,557    326,290    246,614    270,889    321,796    18,807    288,143 
Total liabilities and members’ equity (deficit)  $509,041   $336,327   $255,953   $285,211   $345,556   $380,799   $298,389 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-27

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Patrick   Peanut   Pearl   Pecan   Peterson   Piedmont   Pinot 
ASSETS                            
Current assets:                            
Cash  $6,535   $6,822   $6,421   $12,097   $16,634   $9,652   $7,603 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   389    2,265    785    380    582    4,913    3,064 
Due from (to) third party property managers   1,867    3,798    3,892    3,455    3,299    4,239    4,720 
Total current assets   8,791    12,884    11,097    15,932    20,514    18,804    15,386 
Property and equipment, net   192,559    201,575    512,390    186,784    219,871    361,494    292,454 
Total assets  $201,350   $214,459   $523,488   $202,716   $240,385   $380,299   $307,840 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $5,717   $1,811   $6,519   $5,987   $3,025   $2,015   $2,038 
Tenant deposits   1,595    2,093    2,945    1,750    1,595    2,295    2,395 
Due to (from) related parties   6,987    3,846    16,454    4,150    1,360    5,253    7,321 
Total current liabilities   14,300    7,749    25,918    11,887    5,979    9,563    11,753 
Mortgage payables, net   107,895    145,317    -    112,448    -    188,245    207,162 
Operational notes, related party   -    -    -    -    -    -    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   122,195    153,067    25,918    124,335    5,979    197,808    218,915 
Members’ equity (deficit)                                   
Members’ capital   88,386    72,469    526,530    74,927    238,666    220,380    98,928 
Retained earnings (accumulated deficit)   (9,231)   (11,077)   (28,960)   3,454    (4,260)   (37,890)   (10,003)
Total members’ equity (deficit)   79,155    61,392    497,570    78,381    234,406    182,490    88,925 
Total liabilities and members’ equity (deficit)  $201,350   $214,459   $523,488   $202,716   $240,385   $380,299   $307,840 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-28

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Pioneer   Plumtree   Point   Porthos   Quincy   Redondo   Regency 
ASSETS                            
Current assets:                            
Cash  $7,993   $10,009   $4,225   $14,714   $7,047   $4,546   $14,652 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   796    352    6,022    1,695    675    606    1,170 
Due from (to) third party property managers   6,660    4,590    5,689    4,509    6,383    2,567    6,035 
Total current assets   15,449    14,951    15,937    20,917    14,104    7,718    21,857 
Property and equipment, net   551,258    180,404    357,872    292,401    514,751    297,741    262,827 
Total assets  $566,707   $195,355   $373,809   $313,318   $528,855   $305,459   $284,684 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $11,132   $5,936   $1,999   $8,612   $8,698   $4,740   $7,169 
Tenant deposits   3,445    1,550    2,095    2,295    3,495    3,143    3,793 
Due to (from) related parties   20,324    4,207    6,304    2,030    7,686    10,688    3,083 
Total current liabilities   34,901    11,694    10,397    12,937    19,879    18,570    14,044 
Mortgage payables, net   -    110,136    265,237    -    -    155,269    135,437 
Operational notes, related party   -    -    11,100    -    20,800    -    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   34,901    121,830    286,734    12,937    40,679    173,839    149,482 
Members’ equity (deficit)                                   
Members’ capital   566,533    71,879    129,770    305,520    531,906    176,031    145,294 
Retained earnings (accumulated deficit)   (34,727)   1,646    (42,696)   (5,139)   (43,730)   (44,411)   (10,091)
Total members’ equity (deficit)   531,806    73,525    87,075    300,381    488,176    131,621    135,203 
Total liabilities and members’ equity (deficit)  $566,707   $195,355   $373,809   $313,318   $528,855   $305,459   $284,684 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-29

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Reginald   Reynolds   Ribbonwalk   Richardson   Richmond   Ridge   Ritter 
ASSETS                            
Current assets:                            
Cash  $3,677   $16,194   $7,225   $13,581   $16,627   $4,424   $7,416 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,052    1,089    3,611    569    843    2,537    910 
Due from (to) third party property managers   -    4,970    1,759    3,531    5,019    4,425    4,883 
Total current assets   4,729    22,252    12,595    17,680    22,489    11,386    13,209 
Property and equipment, net   433,339    404,492    293,903    296,244    370,580    198,094    473,701 
Total assets  $438,068   $426,744   $306,498   $313,924   $393,069   $209,480   $486,909 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $16,546   $2,795   $1,708   $5,957   $5,402   $1,995   $6,492 
Tenant deposits   -    2,495    1,995    1,995    3,443    2,543    2,495 
Due to (from) related parties   6,047    12,415    4,315    4,255    2,150    6,291    14,732 
Total current liabilities   22,593    17,705    8,018    12,207    10,995    10,829    23,719 
Mortgage payables, net   -    -    221,827    -    -    138,497    - 
Operational notes, related party   31,000    -    12,000    -    -    -    17,200 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   53,593    17,705    241,844    12,207    10,995    149,326    40,919 
Members’ equity (deficit)                                   
Members’ capital   436,892    413,887    111,574    307,254    398,949    74,046    502,049 
Retained earnings (accumulated deficit)   (52,418)   (4,847)   (46,920)   (5,536)   (16,875)   (13,892)   (56,059)
Total members’ equity (deficit)   384,474    409,040    64,654    301,717    382,074    60,154    445,991 
Total liabilities and members’ equity (deficit)  $438,068   $426,744   $306,498   $313,924   $393,069   $209,480   $486,909 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-30

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   River   Riverwalk   Rooney   Roseberry   Rosewood   Roxy   Saddlebred 
ASSETS                            
Current assets:                            
Cash  $4,648   $14,359   $7,631   $2,382   $6,677   $6,359   $7,936 
Other receivables   -    -    -    -    -    -    1,377 
Prepaid expenses   2,540    465    4,881    5,096    2,546    3,833    4,465 
Due from (to) third party property managers   7,498    6,370    4,684    7,560    5,305    4,395    8,626 
Total current assets   14,687    21,193    17,197    15,038    14,527    14,587    22,403 
Property and equipment, net   242,617    371,773    343,961    299,368    253,507    305,327    444,551 
Total assets  $257,304   $392,966   $361,158   $314,406   $268,034   $319,913   $466,954 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,205   $5,571   $2,193   $1,686   $1,819   $1,928   $(128)
Tenant deposits   2,993    3,993    2,095    3,443    2,768    1,995    4,168 
Due to (from) related parties   7,397    11,685    4,987    4,961    3,729    3,967    6,305 
Total current liabilities   12,594    21,249    9,275    10,090    8,316    7,890    10,344 
Mortgage payables, net   170,446    -    256,592    209,181    187,025    218,310    329,608 
Operational notes, related party   -    -    9,400    5,700    5,100    15,200    23,400 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   183,041    21,249    275,267    224,971    200,441    241,400    363,352 
Members’ equity (deficit)                                   
Members’ capital   88,146    380,510    123,718    104,311    93,533    112,118    166,577 
Retained earnings (accumulated deficit)   (13,882)   (8,793)   (37,827)   (14,875)   (25,940)   (33,604)   (62,974)
Total members’ equity (deficit)   74,263    371,717    85,891    89,436    67,594    78,514    103,603 
Total liabilities and members’ equity (deficit)  $257,304   $392,966   $361,158   $314,406   $268,034   $319,913   $466,954 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-31

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Saint   Sajni   Salem   Salinas   Saturn   Scepter   Sequoyah 
ASSETS                            
Current assets:                            
Cash  $12,217   $6,044   $2,035   $5,932   $3,172   $3,385   $3,513 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   3,739    1,865    3,550    288    2,372    3,545    587 
Due from (to) third party property managers   4,680    4,344    -    3,585    1,432    -    4,095 
Total current assets   20,635    12,254    5,585    9,806    6,976    6,929    8,194 
Property and equipment, net   299,300    296,520    289,625    225,461    199,797    251,064    239,973 
Total assets  $319,936   $308,774   $295,210   $235,266   $206,773   $257,993   $248,167 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,391   $1,440   $1,805   $4,137   $1,403   $1,904   $5,627 
Tenant deposits   2,495    2,745    -    1,945    1,495    -    2,295 
Due to (from) related parties   4,524    3,613    10,111    2,618    3,286    5,162    3,170 
Total current liabilities   9,410    7,798    11,916    8,700    6,184    7,066    11,092 
Mortgage payables, net   209,879    -    208,930    -    138,151    187,061    122,192 
Operational notes, related party   -    11,000    -    20,300    11,900    -    17,200 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   219,289    18,798    220,846    29,000    156,236    194,127    150,483 
Members’ equity (deficit)                                   
Members’ capital   104,476    297,561    96,122    233,064    85,149    92,271    140,166 
Retained earnings (accumulated deficit)   (3,830)   (7,585)   (21,758)   (26,797)   (34,612)   (28,404)   (42,482)
Total members’ equity (deficit)   100,647    289,976    74,364    206,266    50,537    63,866    97,684 
Total liabilities and members’ equity (deficit)  $319,936   $308,774   $295,210   $235,266   $206,773   $257,993   $248,167 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-32

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Shallowford   Shoreline   Sigma   Simon   Sims   Soapstone   Sodalis 
ASSETS                            
Current assets:                            
Cash  $3,698   $7,940   $8,321   $17,998   $12,444   $6,932   $6,783 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   4,417    2,672    4,021    885    879    401    471 
Due from (to) third party property managers   4,503    3,993    3,751    4,063    4,568    4,180    3,727 
Total current assets   12,618    14,605    16,093    22,947    17,891    11,513    10,981 
Property and equipment, net   340,047    282,690    354,714    280,331    263,681    206,765    272,607 
Total assets  $352,665   $297,295   $370,807   $303,277   $281,572   $218,279   $283,587 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,117   $2,364   $2,517   $5,575   $3,061   $5,829   $7,257 
Tenant deposits   2,345    2,295    2,869    2,095    2,768    2,350    - 
Due to (from) related parties   4,822    4,197    4,881    2,655    2,748    3,845    7,983 
Total current liabilities   9,284    8,856    10,267    10,324    8,577    12,024    15,240 
Mortgage payables, net   176,958    210,001    267,006    -    -    127,090    - 
Operational notes, related party   8,600    16,600    -    -    -    6,900    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   194,841    235,457    277,273    10,324    8,577    146,014    15,240 
Members’ equity (deficit)                                   
Members’ capital   203,842    96,589    120,280    291,759    279,766    73,474    284,350 
Retained earnings (accumulated deficit)   (46,018)   (34,750)   (26,746)   1,194    (6,770)   (1,209)   (16,003)
Total members’ equity (deficit)   157,824    61,839    93,534    292,953    272,996    72,265    268,347 
Total liabilities and members’ equity (deficit)  $352,665   $297,295   $370,807   $303,277   $281,572   $218,279   $283,587 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-33

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Spencer   Splash   Spring   Stonebriar   Sugar   Summerset   Sundance 
ASSETS                            
Current assets:                            
Cash  $7,027   $6,893   $5,343   $7,013   $3,972   $5,299   $3,838 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   2,732    466    451    2,722    4,577    2,358    681 
Due from (to) third party property managers   4,811    3,170    3,601    2,942    5,726    6,738    12,302 
Total current assets   14,570    10,529    9,395    12,677    14,276    14,396    16,822 
Property and equipment, net   273,588    195,684    232,996    189,985    283,493    243,894    303,904 
Total assets  $288,157   $206,213   $242,391   $202,662   $297,768   $258,289   $320,726 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $3,099   $5,143   $7,847   $1,879   $1,723   $2,345   $12,805 
Tenant deposits   2,349    1,550    1,695    1,395    3,590    2,843    2,595 
Due to (from) related parties   4,522    3,850    4,463    2,816    9,541    4,007    7,535 
Total current liabilities   9,970    10,543    14,005    6,090    14,855    9,195    22,936 
Mortgage payables, net   192,623    122,064    -    132,798    199,058    163,630    155,269 
Operational notes, related party   9,400    8,200    -    16,000    -    24,500    6,700 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   211,993    140,807    14,005    154,888    213,912    197,325    184,904 
Members’ equity (deficit)                                   
Members’ capital   97,189    77,147    238,802    73,907    120,027    89,891    174,800 
Retained earnings (accumulated deficit)   (21,024)   (11,741)   (10,415)   (26,133)   (36,171)   (28,927)   (38,979)
Total members’ equity (deficit)   76,164    65,406    228,386    47,774    83,856    60,964    135,821 
Total liabilities and members’ equity (deficit)  $288,157   $206,213   $242,391   $202,662   $297,768   $258,289   $320,726 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-34

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Sunnyside   Swift   Taylor   Terracotta   Theodore   Tulip   Tuscan 
ASSETS                            
Current assets:                            
Cash  $14,812   $10,298   $3,404   $1,314   $15,244   $5,906   $15,475 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   542    486    2,381    3,638    885    3,123    879 
Due from (to) third party property managers   3,390    4,551    4,682    -    2,787    4,044    - 
Total current assets   18,744    15,335    10,466    4,952    18,917    13,072    16,354 
Property and equipment, net   211,231    324,791    219,057    300,203    278,244    296,689    292,129 
Total assets  $229,975   $340,127   $229,523   $305,155   $297,161   $309,761   $308,483 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $3,004   $3,976   $1,895   $4,209   $4,933   $2,037   $8,782 
Tenant deposits   1,845    2,195    1,645    -    2,245    2,195    2,295 
Due to (from) related parties   2,458    15,209    2,988    6,103    2,329    4,451    5,767 
Total current liabilities   7,307    21,380    6,528    10,312    9,507    8,682    16,844 
Mortgage payables, net   -    -    112,179    220,409    -    219,707    180,912 
Operational notes, related party   -    -    11,100    19,100    -    24,300    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   7,307    21,380    129,806    249,821    9,507    252,690    197,755 
Members’ equity (deficit)                                   
Members’ capital   218,931    330,196    136,252    111,248    294,808    104,538    117,359 
Retained earnings (accumulated deficit)   3,737    (11,449)   (36,535)   (55,914)   (7,155)   (47,467)   (6,631)
Total members’ equity (deficit)   222,668    318,747    99,717    55,334    287,654    57,071    110,728 
Total liabilities and members’ equity (deficit)  $229,975   $340,127   $229,523   $305,155   $297,161   $309,761   $308,483 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-35

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Tuscarora   Tuxford   Vernon   Walton   Wave   Weldon   Wellington 
ASSETS                            
Current assets:                            
Cash  $11,464   $5,512   $4,514   $6,916   $1,969   $3,840   $7,114 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   567    3,553    2,967    431    3,476    2,286    571 
Due from (to) third party property managers   11,711    1,881    4,915    3,676    8,829    3,798    4,933 
Total current assets   23,742    10,946    12,396    11,022    14,274    9,924    12,619 
Property and equipment, net   318,906    244,298    239,245    282,438    312,084    193,420    385,999 
Total assets  $342,648   $255,244   $251,641   $293,461   $326,359   $203,344   $398,618 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $5,890   $1,537   $2,047   $6,531   $1,626   $1,698   $3,136 
Tenant deposits   3,145    1,895    2,843    1,895    2,195    2,168    2,395 
Due to (from) related parties   3,778    5,691    3,637    8,823    5,826    4,448    7,286 
Total current liabilities   12,812    9,124    8,526    17,250    9,647    8,313    12,817 
Mortgage payables, net   -    176,608    179,939    -    221,800    134,919    - 
Operational notes, related party   -    25,800    7,400    29,000    94,200    -    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   12,812    211,532    195,865    46,250    325,646    143,232    12,817 
Members’ equity (deficit)                                   
Members’ capital   330,825    92,643    85,191    294,775    112,377    81,211    401,288 
Retained earnings (accumulated deficit)   (989)   (48,931)   (29,415)   (47,564)   (111,665)   (21,099)   (15,487)
Total members’ equity (deficit)   329,836    43,712    55,776    247,211    713    60,113    385,801 
Total liabilities and members’ equity (deficit)  $342,648   $255,244   $251,641   $293,461   $326,359   $203,344   $398,618 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-36

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Wentworth   Wescott   Westchester   Wildwood   Willow   Wilson   Winchester 
ASSETS                            
Current assets:                            
Cash  $8,105   $2,273   $7,646   $7,637   $3,572   $8,153   $4,347 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   2,137    1,291    3,596    2,431    534    509    906 
Due from (to) third party property managers   3,405    4,980    2,853    4,000    2,718    4,766    340 
Total current assets   13,647    8,544    14,095    14,069    6,823    13,428    5,593 
Property and equipment, net   214,294    257,291    310,763    206,640    275,607    363,871    261,340 
Total assets  $227,941   $265,836   $324,858   $220,709   $282,430   $377,299   $266,933 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,232   $2,013   $2,162   $2,266   $4,567   $7,237   $2,793 
Tenant deposits   1,595    3,440    3,119    1,945    1,545    2,445    1,895 
Due to (from) related parties   3,792    5,174    5,698    3,657    7,794    5,807    1,463 
Total current liabilities   7,619    10,628    10,979    7,868    13,906    15,489    6,151 
Mortgage payables, net   155,217    133,074    196,481    107,312    -    -    - 
Operational notes, related party   -    20,800    16,600    -    -    -    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   162,836    164,502    224,059    115,180    13,906    15,489    6,151 
Members’ equity (deficit)                                   
Members’ capital   67,546    145,767    141,460    116,060    282,191    369,388    276,569 
Retained earnings (accumulated deficit)   (2,440)   (44,433)   (40,662)   (10,531)   (13,668)   (7,578)   (15,787)
Total members’ equity (deficit)   65,105    101,334    100,798    105,529    268,524    361,810    260,782 
Total liabilities and members’ equity (deficit)  $227,941   $265,836   $324,858   $220,709   $282,430   $377,299   $266,933 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-37

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Windsor   Winston   Wisteria   Campbell   Arlo   Hualapai   Brentwood 
ASSETS                            
Current assets:                            
Cash  $4,831   $9,599   $6,681   $      -   $      -   $      -   $      - 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   4,768    610    3,050    -    -    -    - 
Due from (to) third party property managers   -    5,345    4,931    -    -    -    - 
Total current assets   9,599    15,554    14,662    -    -    -    - 
Property and equipment, net   319,138    310,330    283,244    -    -    -    - 
Total assets  $328,736   $325,883   $297,906   $-   $-   $-   $- 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,047   $2,873   $1,920   $-   $-   $-   $- 
Tenant deposits   2,595    1,795    3,143    -    -    -    - 
Due to (from) related parties   7,972    4,457    3,562    -    -    -    - 
Total current liabilities   12,614    9,124    8,624    -    -    -    - 
Mortgage payables, net   224,828    -    205,382    -    -    -    - 
Operational notes, related party   32,500    -    9,300    -    -    -    - 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Total liabilities   269,942    9,124    223,306    -    -    -    - 
Members’ equity (deficit)                                   
Members’ capital   114,006    324,293    97,526    -    -    -    - 
Retained earnings (accumulated deficit)   (55,211)   (7,534)   (22,925)   -    -    -    - 
Total members’ equity (deficit)   58,795    316,759    74,600    -    -    -    - 
Total liabilities and members’ equity (deficit)  $328,736   $325,883   $297,906   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-38

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2024

 

   Bellvue   Lorenz   Lexie   Hartsfield   Unallocated members capital   Consolidated 
ASSETS                        
Current assets:                        
Cash  $      -   $      -   $      -   $      -   $      -   $1,881,389 
Other receivables   -    -    -    -    -    1,377 
Prepaid expenses   -    -    -    -    -    505,829 
Due from (to) third party property managers   -    -    -    -    -    1,014,907 
Total current assets   -    -    -    -    -    3,403,502 
Property and equipment, net   -    -    -    -    -    72,206,586 
Total assets  $-   $-   $-   $-   $-   $75,610,088 
                               
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                              
Current liabilities:                              
Accrued expenses  $-   $-   $-   $-   $-   $907,183 
Tenant deposits   -    -    -    -    -    526,298 
Due to (from) related parties   -    -    -    -    -    1,386,475 
Total current liabilities   -    -    -    -    -    2,819,955 
Mortgage payables, net   -    -    -    -    -    23,721,589 
Operational notes, related party   -    -    -    -    -    2,045,300 
Due to commonly controlled entity   -    -    -    -    179,235    179,235 
Total liabilities   -    -    -    -    179,235    28,766,079 
Members’ equity (deficit)                              
Members’ capital   -    -    -    -    -    52,980,174 
Retained earnings (accumulated deficit)   -    -    -    -    (179,235)   (6,136,165)
Total members’ equity (deficit)   -    -    -    -    (179,235)   46,844,009 
Total liabilities and members’ equity (deficit)  $-   $-   $-   $-   $-   $75,610,088 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-39

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   100   101   Abbington   Abernant   Alvin   Amber   Apollo 
ASSETS                            
Current assets:                            
Cash  $29,547   $5,396   $10,509   $546   $4,872   $3,401   $518 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   587    605    700    212    254    1,428    1,876 
Due from (to) third party property managers   11,007    8,280    3,088    (354)   (678)   2,534    7,015 
Total current assets   41,142    14,281    14,297    404    4,447    7,363    9,409 
Property and equipment, net  $592,553   $613,223   $468,656   $227,524   $318,111   $288,748   $189,297 
Deposits  $3,745   $3,095   $2,845   $-   $2,295   $2,843   $1,744 
Total assets  $637,440   $630,599   $485,799   $227,928   $324,853   $298,954   $200,450 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $13,100   $6,583   $6,687   $2,827   $3,454   $3,254   $2,057 
Due to (from) related parties   25,882    38,875    18,115    230,664    324,058    7,225    4,124 
Total Current liabilities   38,982    45,458    24,803    233,491    327,512    10,479    6,182 
Tenant deposits   3,745    3,095    2,845    -    2,295    2,843    1,744 
Mortgage payable, net   -    -    -    -    -    198,743    133,204 
Total Liabilities   42,727    48,553    27,648    233,491    329,807    212,064    141,129 
Members’ equity (deficit)                                   
Members’ capital   593,296    649,953    482,257    2,405    330    115,531    72,850 
Retained earnings (accumulated deficit)   1,418    (67,907)   (24,106)   (7,968)   (5,284)   (28,641)   (13,529)
Total members’ equity (deficit)   594,713    582,046    458,151    (5,563)   (4,954)   86,890    59,321 
Total liabilities and members’ equity (deficit)  $637,440   $630,599   $485,799   $227,928   $324,853   $298,954   $200,450 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-40

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Aster   Augusta   Avebury   Avondale   Badminton   Ballinger   Bandelier 
ASSETS                            
Current assets:                            
Cash  $1,362   $20,996   $2,956   $16,728   $317   $25,175   $14,176 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,218    509    1,475    340    1,026    -    2,141 
Due from (to) third party property managers   4,731    4,514    7,673    4,097    (3,569)   (2,757)   6,496 
Total current assets   7,310    26,018    12,104    21,166    (2,227)   22,418    22,813 
Property and equipment, net  $247,484   $294,773   $278,995   $327,184   $246,012   $301,220   $331,910 
Deposits  $2,245   $1,995   $1,795   $2,195   $2,993   $-   $2,195 
Total assets  $257,039   $322,786   $292,894   $350,544   $246,778   $323,638   $356,919 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,199   $5,874   $2,461   $5,440   $2,196   $1,894   $2,548 
Due to (from) related parties   8,466    (507)   6,535    4,518    7,474    2,472    4,672 
Total Current liabilities   10,664    5,367    8,997    9,959    9,671    4,366    7,219 
Tenant deposits   2,245    1,995    1,795    2,195    2,993    -    2,195 
Mortgage payable, net   124,200    -    200,866    -    171,923    -    242,530 
Total Liabilities   137,109    7,362    211,658    12,154    184,586    4,366    251,944 
Members’ equity (deficit)                                   
Members’ capital   151,692    323,135    98,105    351,685    82,572    326,781    121,833 
Retained earnings (accumulated deficit)   (31,762)   (7,711)   (16,869)   (13,295)   (20,380)   (7,509)   (16,859)
Total members’ equity (deficit)   119,930    315,424    81,236    338,391    62,192    319,272    104,974 
Total liabilities and members’ equity (deficit)  $257,039   $322,786   $292,894   $350,544   $246,778   $323,638   $356,919 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-41

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

  

   Baron   Basil   Bayside   Bazzel   Bedford   Bella   Belle 
ASSETS                            
Current assets:                            
Cash  $18,044   $1,067   $1,125   $16,160   $12,611   $13,396   $5,101 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   556    1,278    3,450    1,210    1,607    492    1,234 
Due from (to) third party property managers   6,053    2,233    5,291    (8,312)   12,164    (2,290)   1,693 
Total current assets   24,654    4,579    9,866    9,057    26,381    11,598    8,027 
Property and equipment, net  $558,711   $189,841   $240,576   $258,687   $269,313   $304,934   $425,965 
Deposits  $2,895   $1,495   $2,619   $1,795   $4,590   $-   $2,495 
Total assets  $586,260   $195,915   $253,060   $269,539   $300,285   $316,532   $436,487 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $9,593   $2,280   $3,305   $6,703   $3,424   $7,767   $3,832 
Due to (from) related parties   17,815    6,538    5,919    25,522    6,180    (283)   26,569 
Total Current liabilities   27,407    8,818    9,224    32,225    9,604    7,484    30,400 
Tenant deposits   2,895    1,495    2,619    1,795    4,590    -    2,495 
Mortgage payable, net   -    129,737    163,543    -    194,557    -    - 
Total Liabilities   30,302    140,050    175,386    34,020    208,751    7,484    32,895 
Members’ equity (deficit)                                   
Members’ capital   566,477    68,664    92,034    258,269    92,889    332,233    444,347 
Retained earnings (accumulated deficit)   (10,519)   (12,800)   (14,360)   (22,750)   (1,355)   (23,184)   (40,756)
Total members’ equity (deficit)   555,958    55,865    77,674    235,519    91,534    309,049    403,592 
Total liabilities and members’ equity (deficit)  $586,260   $195,915   $253,060   $269,539   $300,285   $316,532   $436,487 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-42

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Belvedere   Bergenia   Blossom   Bonneau   Brainerd   Braxton   Brennan 
ASSETS                            
Current assets:                            
Cash  $20,507   $16,933   $24,959   $10,093   $3,743   $10,873   $1,356 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   312    288    506    974    629    822    2,159 
Due from (to) third party property managers   7,447    4,417    (598)   7,212    6,226    5,361    2,221 
Total current assets   28,266    21,639    24,867    18,279    10,597    17,055    5,735 
Property and equipment, net  $293,054   $218,993   $246,986   $329,371   $284,408   $313,845   $218,555 
Deposits  $2,295   $1,595   $1,845   $2,295   $2,595   $2,045   $1,994 
Total assets  $323,614   $242,226   $273,699   $349,945   $297,601   $332,946   $226,284 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $5,747   $5,639   $7,188   $12,655   $6,920   $5,882   $1,335 
Due to (from) related parties   5,292    1,804    6,542    11,237    (10,799)   11,136    17,726 
Total Current liabilities   11,038    7,443    13,730    23,892    (3,878)   17,018    19,061 
Tenant deposits   2,295    1,595    1,845    2,295    2,595    2,045    1,994 
Mortgage payable, net   -    -    -    -    142,160    -    153,817 
Total Liabilities   13,333    9,038    15,575    26,187    140,877    19,063    174,872 
Members’ equity (deficit)                                   
Members’ capital   314,832    237,473    265,963    343,756    163,989    329,533    87,119 
Retained earnings (accumulated deficit)   (4,550)   (4,285)   (7,839)   (19,999)   (7,265)   (15,651)   (35,706)
Total members’ equity (deficit)   310,281    233,188    258,124    323,758    156,724    313,883    51,413 
Total liabilities and members’ equity (deficit)  $323,614   $242,226   $273,699   $349,945   $297,601   $332,946   $226,284 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-43

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Briarwood   Brooklyn   Burlington   Butter   Calvin   Camino   Campbell 
ASSETS                            
Current assets:                            
Cash  $21,004   $171   $12,564   $222   $22,562   $16,603   $- 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   237    464    2,266    2,883    199    337    - 
Due from (to) third party property managers   (121)   3,870    9,874    14,204    2,550    5,709    - 
Total current assets   21,120    4,505    24,704    17,310    25,311    22,649    - 
Property and equipment, net  $208,762   $167,213   $627,084   $358,935   $235,837   $256,920   $- 
Deposits  $-   $1,249   $3,395   $2,795   $1,795   $1,994   $- 
Total assets  $229,881   $172,967   $655,183   $379,040   $262,942   $281,562   $- 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,688   $2,392   $10,896   $3,326   $2,991   $4,438   $- 
Due to (from) related parties   867    10,819    27,374    13,906    1,081    5,221    69,756 
Total Current liabilities   3,556    13,210    38,271    17,231    4,072    9,659    69,756 
Tenant deposits   -    1,249    3,395    2,795    1,795    1,994    - 
Mortgage payable, net   -    81,375    -    259,896    -    -    - 
Total Liabilities   3,556    95,834    41,666    279,923    5,867    11,653    69,756 
Members’ equity (deficit)                                   
Members’ capital   237,227    100,573    626,642    121,132    262,824    269,656    3,161 
Retained earnings (accumulated deficit)   (10,901)   (23,440)   (13,124)   (22,015)   (5,748)   254    (72,917)
Total members’ equity (deficit)   226,325    77,133    613,517    99,117    257,076    269,909    (69,756)
Total liabilities and members’ equity (deficit)  $229,881   $172,967   $655,183   $379,040   $262,942   $281,562   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-44

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Cawley   Centennial   Chaparral   Chattahoochee   Chelsea   Chester   Chickamauga 
ASSETS                            
Current assets:                            
Cash  $21,791   $9,087   $18,793   $        -   $2,782   $4,291   $28,234 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   545    (99)   272    -    2,570    1,444    972 
Due from (to) third party property managers   6,487    4,460    (1,437)   -    5,988    6,503    2,054 
Total current assets   28,823    13,448    17,628    -    11,340    12,238    31,260 
Property and equipment, net  $312,610   $267,090   $181,513   $-   $295,663   $359,628   $364,915 
Deposits  $2,195   $1,895   $3,000   $-   $1,895   $2,445   $2,545 
Total assets  $343,628   $282,433   $202,141   $-   $308,898   $374,311   $398,720 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $6,195   $2,636   $6,556   $-   $4,128   $2,825   $9,570 
Due to (from) related parties   4,991    5,729    7,053    -    (3,745)   (7,908)   7,158 
Total Current liabilities   11,186    8,366    13,609    -    383    (5,083)   16,729 
Tenant deposits   2,195    1,895    3,000    -    1,895    2,445    2,545 
Mortgage payable, net   -    187,578    103,192           -    213,270    181,530    - 
Total Liabilities   13,381    197,839    119,801    -    215,548    178,892    19,274 
Members’ equity (deficit)                                   
Members’ capital   334,802    99,231    81,858    -    106,587    214,302    381,178 
Retained earnings (accumulated deficit)   (4,555)   (14,637)   482    -    (13,237)   (18,883)   (1,731)
Total members’ equity (deficit)   330,247    84,594    82,340    -    93,350    195,419    379,446 
Total liabilities and members’ equity (deficit)  $343,628   $282,433   $202,141   $-   $308,898   $374,311   $398,720 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-45

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Chinook   Chitwood   Clover   Coatbridge   Collier   Collinston   Conway 
ASSETS                            
Current assets:                            
Cash  $7,395   $12,399   $12,229   $223   $13,986   $650   $4,086 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   624    403    612    1,827    387    824    1,280 
Due from (to) third party property managers   (869)   6,393    9,423    (3,907)   6,735    7,574    8,675 
Total current assets   7,150    19,195    22,264    (1,858)   21,108    9,048    14,041 
Property and equipment, net  $310,454   $370,485   $319,996   $262,048   $343,946   $199,231   $665,159 
Deposits  $2,095   $2,795   $1,895   $6,135   $2,445   $1,994   $3,250 
Total assets  $319,699   $392,475   $344,156   $266,325   $367,499   $210,273   $682,450 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $6,069   $10,958   $5,123   $2,877   $4,991   $1,335   $7,602 
Due to (from) related parties   (1,082)   2,230    15,730    12,934    26,386    18,279    21,523 
Total Current liabilities   4,987    13,188    20,852    15,810    31,377    19,614    29,125 
Tenant deposits   2,095    2,795    1,895    6,135    2,445    1,994    3,250 
Mortgage payable, net   -    -    -    173,204    -    134,859    - 
Total Liabilities   7,082    15,983    22,747    195,149    33,822    156,468    32,375 
Members’ equity (deficit)                                   
Members’ capital   330,639    384,786    325,830    100,241    347,837    83,745    686,468 
Retained earnings (accumulated deficit)   (18,023)   (8,295)   (4,422)   (29,065)   (14,160)   (29,939)   (36,393)
Total members’ equity (deficit)   312,617    376,491    321,408    71,177    333,677    53,806    650,075 
Total liabilities and members’ equity (deficit)  $319,699   $392,475   $344,156   $266,325   $367,499   $210,273   $682,450 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-46

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Cove   Creekside   Creekwood   Cumberland   Cupcake   Cypress   Daisy 
ASSETS                            
Current assets:                            
Cash  $14,802   $14,662   $901   $21,941   $12,632   $20,606   $18,365 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   502    526    2,404    513    682    4,569    455 
Due from (to) third party property managers   5,204    5,355    3,534    4,650    1,626    2,602    5,445 
Total current assets   20,509    20,542    6,838    27,104    14,941    27,778    24,265 
Property and equipment, net  $208,080   $301,191   $280,232   $286,838   $214,529   $354,411   $291,729 
Deposits  $1,595   $2,395   $1,795   $1,695   $1,595   $2,395   $1,695 
Total assets  $230,184   $324,128   $288,865   $315,637   $231,065   $384,584   $317,689 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $4,506   $8,309   $2,500   $6,289   $3,378   $4,197   $7,165 
Due to (from) related parties   4,614    5,480    (7,847)   6,330    302    12,803    10,160 
Total Current liabilities   9,120    13,788    (5,347)   12,618    3,680    17,000    17,325 
Tenant deposits   1,595    2,395    1,795    1,695    1,595    2,395    1,695 
Mortgage payable, net   -    -    141,105    -    150,091    178,936    - 
Total Liabilities   10,715    16,183    137,553    14,313    155,366    198,331    19,020 
Members’ equity (deficit)                                   
Members’ capital   222,632    307,870    169,337    301,266    74,155    210,247    303,624 
Retained earnings (accumulated deficit)   (3,163)   75    (18,024)   58    1,544    (23,994)   (4,956)
Total members’ equity (deficit)   219,469    307,945    151,312    301,324    75,699    186,253    298,668 
Total liabilities and members’ equity (deficit)  $230,184   $324,128   $288,865   $315,637   $231,065   $384,584   $317,689 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-47

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

  

   Davidson   Dawson   Delta   Dewberry   Diablo   Dogwood   Dolittle 
ASSETS                            
Current assets:                            
Cash  $2,931   $-   $1,789   $-   $1,951   $10,714   $941 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   2,186    2,360    2,785    429    1,779    642    1,868 
Due from (to) third party property managers   (2,972)   6,088    (9,839)   7,298    6,978    9,121    6,276 
Total current assets   2,145    8,448    (5,265)   7,726    10,708    20,478    9,086 
Property and equipment, net  $199,901   $216,097   $326,471   $178,136   $284,911   $232,743   $290,687 
Deposits  $1,806   $1,745   $-   $4,785   $2,145   $2,243   $3,443 
Total assets  $203,852   $226,290   $321,206   $190,648   $297,763   $255,463   $303,215 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,232   $2,212   $1,695   $2,251   $4,482   $3,835   $3,932 
Due to (from) related parties   7,299    19,660    43,795    8,822    27,893    8,403    5,129 
Total Current liabilities   9,531    21,872    45,490    11,073    32,375    12,238    9,061 
Tenant deposits   1,806    1,745    -    4,785    2,145    2,243    3,443 
Mortgage payable, net   145,281    144,222    224,506    119,432    205,745    -    205,431 
Total Liabilities   156,619    167,839    269,996    135,290    240,265    14,481    217,935 
Members’ equity (deficit)                                   
Members’ capital   73,222    84,784    119,272    71,437    101,646    241,546    102,467 
Retained earnings (accumulated deficit)   (25,988)   (26,333)   (68,063)   (16,079)   (44,148)   (563)   (17,187)
Total members’ equity (deficit)   47,233    58,451    51,210    55,358    57,498    240,982    85,280 
Total liabilities and members’ equity (deficit)  $203,852   $226,290   $321,206   $190,648   $297,763   $255,463   $303,215 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-48

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Dolly   Dops   Dorchester   Dunbar   Duncan   Eagle   Eastfair   Eastwood 
ASSETS                                
Current assets:                                
Cash  $12,293   $9,336   $9,281   $829   $        -   $8,998   $3,306   $27,058 
Other receivables   -    -    -    -    -    -    -    - 
Prepaid expenses   905    446    1,428    50    -    1,986    2,487    245 
Due from (to) third party property managers   9,490    8,809    6,054    1,111    -    (494)   (5,315)   73 
Total current assets   22,689    18,590    16,763    1,990    -    10,491    477    27,376 
Property and equipment, net  $667,983   $200,581   $333,247   $324,690   $-   $269,037   $201,546   $318,890 
Deposits  $6,390   $-   $2,195   $2,996   $-   $1,995   $3,590   $2,295 
Total assets  $697,061   $219,171   $352,205   $329,675   $-   $281,523   $205,613   $348,561 
                                         
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                        
Current liabilities:                                        
Accrued expenses  $7,230   $4,223   $13,035   $4,720   $-   $3,945   $2,436   $3,485 
Due to (from) related parties   20,259    4,020    11,672    39,697    -    (11,024)   4,920    3,808 
Total Current liabilities   27,489    8,243    24,707    44,417    -    (7,079)   7,357    7,292 
Tenant deposits   6,390    2,093    2,195    2,996    -    1,995    3,590    2,295 
Mortgage payable, net   -    -    -    -    -    131,703    147,944    - 
Total Liabilities   33,879    10,335    26,902    47,412    -    126,620    158,891    9,587 
Members’ equity (deficit)                                        
Members’ capital   697,427    213,611    352,413    325,733    -    156,130    63,228    347,943 
Retained earnings (accumulated deficit)   (34,245)   (4,775)   (27,110)   (43,470)   -    (1,226)   (16,505)   (8,970)
Total members’ equity (deficit)   663,182    208,836    325,303    282,263    -    154,904    46,722    338,973 
Total liabilities and members’ equity (deficit)  $697,061   $219,171   $352,205   $329,675   $-   $281,523   $205,613   $348,561 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-49

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Elevation   Ella   Ellen   Elm   Emporia   Ensenada   Falcon 
ASSETS                            
Current assets:                            
Cash  $554   $16,261   $18,340   $1,155   $333   $19,001   $13,791 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,696    469    350    2,314    2,012    2,175    2,081 
Due from (to) third party property managers   733    3,541    131    (532)   79    9,732    73 
Total current assets   2,984    20,272    18,821    2,937    2,424    30,908    15,945 
Property and equipment, net  $262,577   $257,052   $247,331   $155,693   $336,694   $532,327   $269,725 
Deposits  $3,990   $1,795   $2,693   $1,495   $2,495   $3,295   $1,950 
Total assets  $269,551   $279,119   $268,845   $160,125   $341,613   $566,530   $287,620 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,239   $6,885   $6,710   $1,992   $2,930   $4,006   $4,747 
Due to (from) related parties   27,888    9,961    (1,925)   5,986    10,361    9,791    (2,818)
Total Current liabilities   30,127    16,846    4,786    7,978    13,291    13,797    1,929 
Tenant deposits   3,990    1,795    2,693    1,495    2,495    3,295    1,950 
Mortgage payable, net   170,378    -    -    105,817    242,578    388,577    131,694 
Total Liabilities   204,495    18,641    7,478    115,289    258,364    405,669    135,573 
Members’ equity (deficit)                                   
Members’ capital   103,194    274,058    273,378    63,009    123,807    186,752    154,432 
Retained earnings (accumulated deficit)   (38,138)   (13,580)   (12,011)   (18,173)   (40,559)   (25,891)   (2,385)
Total members’ equity (deficit)   65,056    260,478    261,367    44,836    83,249    160,861    152,047 
Total liabilities and members’ equity (deficit)  $269,551   $279,119   $268,845   $160,125   $341,613   $566,530   $287,620 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-50

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Felix   Fenwick   Fletcher   Folly   Forest   Foster   Franklin 
ASSETS                            
Current assets:                            
Cash  $16,615   $20,374   $19,609   $9,718   $972   $29,623   $12,417 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   334    518    127    1,217    3,723    327    523 
Due from (to) third party property managers   6,432    5,591    3,674    6,804    (2,426)   6,960    2,528 
Total current assets   23,382    26,482    23,410    17,739    2,269    36,909    15,468 
Property and equipment, net  $253,322   $298,020   $175,261   $308,116   $341,123   $311,537   $302,320 
Deposits  $2,393   $2,095   $1,395   $2,695   $2,595   $2,349   $2,095 
Total assets  $279,097   $326,597   $200,066   $328,550   $345,987   $350,795   $319,883 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $6,672   $6,085   $2,383   $10,776   $1,335   $11,021   $8,266 
Due to (from) related parties   8,089    4,499    4,564    19,397    35,596    4,964    (1,349)
Total Current liabilities   14,761    10,584    6,947    30,173    36,931    15,985    6,917 
Tenant deposits   2,393    2,095    1,395    2,695    2,595    2,349    2,095 
Mortgage payable, net   -    -    -    -    225,248    -    - 
Total Liabilities   17,154    12,679    8,342    32,868    264,774    18,334    9,012 
Members’ equity (deficit)                                   
Members’ capital   267,339    321,039    199,420    318,420    137,025    337,311    326,200 
Retained earnings (accumulated deficit)   (5,397)   (7,121)   (7,696)   (22,738)   (55,813)   (4,850)   (15,329)
Total members’ equity (deficit)   261,943    313,918    191,724    295,682    81,213    332,461    310,871 
Total liabilities and members’ equity (deficit)  $279,097   $326,597   $200,066   $328,550   $345,987   $350,795   $319,883 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-51

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Gardens   General   Goose   Grant   Greenhill   Gretal   Grove 
ASSETS                            
Current assets:                            
Cash  $2,979   $16,134   $12,548   $7,131   $1,823   $21,406   $436 
Other receivables   (4,304)   -    -    -    -    -    - 
Prepaid expenses   1,889    467    2,113    2,526    2,332    640    1,507 
Due from (to) third party property managers   1,439    (2,403)   150    12,043    11,043    7,145    5,478 
Total current assets   2,004    14,198    14,812    21,699    15,198    29,190    7,421 
Property and equipment, net  $217,726   $314,801   $250,723   $355,029   $312,415   $439,325   $226,418 
Deposits  $1,869   $2,495   $1,950   $-   $3,119   $2,395   $1,869 
Total assets  $221,599   $331,494   $267,484   $376,728   $330,732   $470,910   $235,707 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,714   $7,757   $3,853   $2,954   $3,223   $7,505   $2,050 
Due to (from) related parties   4,362    (485)   (2,556)   6,840    7,477    9,435    8,770 
Total Current liabilities   7,076    7,272    1,297    9,793    10,700    16,940    10,819 
Tenant deposits   1,869    2,495    1,950    -    3,119    2,395    1,869 
Mortgage payable, net   134,830    -    122,630    256,502    225,483    -    155,681 
Total Liabilities   143,774    9,767    125,877    266,295    239,302    19,335    168,369 
Members’ equity (deficit)                                   
Members’ capital   91,021    342,938    143,936    130,632    104,882    469,906    82,745 
Retained earnings (accumulated deficit)   (13,196)   (21,211)   (2,328)   (20,199)   (13,451)   (18,331)   (15,407)
Total members’ equity (deficit)   77,825    321,727    141,607    110,433    91,431    451,575    67,338 
Total liabilities and members’ equity (deficit)  $221,599   $331,494   $267,484   $376,728   $330,732   $470,910   $235,707 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-52

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Hadden   Hansard   Hansel   Hargrave   Harrison   Henry   Heritage 
ASSETS                            
Current assets:                            
Cash  $6,140   $23,034   $12,324   $461   $6,309   $2,683   $23,848 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,860    419    2,753    199    2,072    473    2,911 
Due from (to) third party property managers   9,978    6,369    6,238    (610)   8,695    (1,147)   2,340 
Total current assets   17,977    29,821    21,315    51    17,076    2,009    29,099 
Property and equipment, net  $210,849   $297,391   $394,085   $233,379   $444,477   $416,767   $284,227 
Deposits  $1,645   $2,450   $2,095   $-   $3,145   $2,450   $1,995 
Total assets  $230,471   $329,662   $417,495   $233,430   $464,697   $421,226   $315,321 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,979   $8,895   $3,605   $2,986   $4,735   $2,962   $2,335 
Due to (from) related parties   4,708    4,845    18,196    234,527    (5,783)   31,565    33,251 
Total Current liabilities   7,688    13,740    21,801    237,513    (1,048)   34,527    35,586 
Tenant deposits   1,645    2,450    2,095    -    3,145    2,450    1,995 
Mortgage payable, net   141,790    -    197,418    -    224,650    -    200,854 
Total Liabilities   151,123    16,190    221,314    237,513    226,747    36,977    238,435 
Members’ equity (deficit)                                   
Members’ capital   85,741    315,246    229,179    1,843    256,988    423,215    102,206 
Retained earnings (accumulated deficit)   (6,392)   (1,774)   (32,998)   (5,926)   (19,038)   (38,966)   (25,320)
Total members’ equity (deficit)   79,348    313,472    196,181    (4,083)   237,950    384,249    76,886 
Total liabilities and members’ equity (deficit)  $230,471   $329,662   $417,495   $233,430   $464,697   $421,226   $315,321 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-53

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Heron   Highland   Hines   Hobbes   Holcomb   Holland   Hollandaise 
ASSETS                            
Current assets:                            
Cash  $330   $8,230   $6,818   $22,214   $30,016   $350   $5,398 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   2,023    240    270    199    (29)   2,103    2,023 
Due from (to) third party property managers   10,902    6,333    4,794    (726)   222    5,536    16,343 
Total current assets   13,256    14,804    11,882    21,688    30,209    7,990    23,763 
Property and equipment, net  $280,413   $277,912   $254,925   $233,684   $343,019   $199,416   $351,137 
Deposits  $2,369   $2,843   $1,845   $-   $2,095   $2,168   $2,295 
Total assets  $296,038   $295,558   $268,652   $255,372   $375,323   $209,573   $377,196 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $3,330   $7,928   $4,951   $2,974   $5,234   $2,042   $2,815 
Due to (from) related parties   5,275    8,854    12,068    (683)   20,805    3,119    4,163 
Total Current liabilities   8,605    16,783    17,018    2,291    26,039    5,161    6,978 
Tenant deposits   2,369    2,843    1,845    -    2,095    2,168    2,295 
Mortgage payable, net   198,769    -    -    -    -    145,287    252,997 
Total Liabilities   209,742    19,625    18,863    2,291    28,134    152,615    262,270 
Members’ equity (deficit)                                   
Members’ capital   100,965    282,634    257,932    261,828    359,391    84,392    138,465 
Retained earnings (accumulated deficit)   (14,669)   (6,701)   (8,143)   (8,747)   (12,202)   (27,435)   (23,539)
Total members’ equity (deficit)   86,296    275,933    249,789    253,081    347,189    56,958    114,926 
Total liabilities and members’ equity (deficit)  $296,038   $295,558   $268,652   $255,372   $375,323   $209,573   $377,196 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-54

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Holloway   Inglewood   Irene   Jack   Jake   Jefferson   Jill 
ASSETS                            
Current assets:                            
Cash  $38   $12,751   $22,155   $5,559   $6,324   $17,923   $4,740 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   2,015    1,676    211    2,280    1,145    1,165    4,102 
Due from (to) third party property managers   8,715    10,180    (568)   7,692    4,674    6,265    6,709 
Total current assets   10,767    24,607    21,798    15,532    12,143    25,352    15,551 
Property and equipment, net  $318,591   $659,619   $175,261   $404,310   $569,206   $269,271   $389,228 
Deposits  $3,119   $3,645   $1,395   $2,995   $2,895   $2,595   $2,195 
Total assets  $332,477   $687,871   $198,454   $422,837   $584,244   $297,218   $406,974 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $3,253   $10,065   $2,628   $2,619   $11,832   $8,177   $3,480 
Due to (from) related parties   7,568    13,152    2,929    10,845    20,643    3,576    (4,475)
Total Current liabilities   10,821    23,217    5,557    13,464    32,475    11,753    (995)
Tenant deposits   3,119    3,645    1,395    2,995    2,895    2,595    2,195 
Mortgage payable, net   218,295    -    -    286,877    -    -    196,544 
Total Liabilities   232,234    26,862    6,952    303,336    35,370    14,348    197,744 
Members’ equity (deficit)                                   
Members’ capital   124,068    693,953    200,070    146,770    588,435    286,804    228,922 
Retained earnings (accumulated deficit)   (23,825)   (32,943)   (8,568)   (27,270)   (39,561)   (3,934)   (19,692)
Total members’ equity (deficit)   100,243    661,009    191,502    119,501    548,874    282,870    209,230 
Total liabilities and members’ equity (deficit)  $332,477   $687,871   $198,454   $422,837   $584,244   $297,218   $406,974 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-55

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Johnny   June   Jupiter   Kawana   Kennesaw   Kenny   KerriAnn 
ASSETS                            
Current assets:                            
Cash  $33,784   $13,071   $4,172   $2,520   $28,570   $15,768   $10,143 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   739    740    1,130    2,004    709    905    961 
Due from (to) third party property managers   10,266    9,784    7,006    7,036    3,106    9,234    4,919 
Total current assets   44,790    23,595    12,308    11,560    32,385    25,907    16,024 
Property and equipment, net  $567,288   $567,288   $199,227   $264,371   $411,471   $667,983   $322,408 
Deposits  $3,795   $3,545   $1,869   $2,543   $2,495   $3,095   $2,369 
Total assets  $615,873   $594,428   $213,404   $278,473   $446,351   $696,985   $340,800 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $8,545   $12,323   $2,070   $2,731   $4,250   $7,558   $2,421 
Due to (from) related parties   65,634    37,312    7,141    (3,235)   24,700    12,894    17,389 
Total Current liabilities   74,179    49,635    9,211    (503)   28,950    20,452    19,811 
Tenant deposits   3,795    3,545    1,869    2,543    2,495    3,095    2,369 
Mortgage payable, net   -    -    138,087    190,440    -    -    235,553 
Total Liabilities   77,974    53,180    149,167    192,479    31,445    23,547    257,733 
Members’ equity (deficit)                                   
Members’ capital   583,323    583,178    83,593    96,804    428,327    697,315    121,882 
Retained earnings (accumulated deficit)   (45,424)   (41,930)   (19,356)   (10,811)   (13,421)   (23,878)   (38,815)
Total members’ equity (deficit)   537,900    541,248    64,237    85,994    414,906    673,437    83,068 
Total liabilities and members’ equity (deficit)  $615,873   $594,428   $213,404   $278,473   $446,351   $696,985   $340,800 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-56

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

  

   Kessler   Kingsley   Kirkwood   Korin   Lallie   Lanier   Lannister 
ASSETS                            
Current assets:                            
Cash  $1,471   $-   $3,527   $21,973   $515   $10,134   $797 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,109    411    2,462    316    514    3,036    3,432 
Due from (to) third party property managers   4,796    7,326    4,669    5,790    (1,579)   (235)   4,094 
Total current assets   7,377    7,737    10,658    28,079    (550)   12,935    8,323 
Property and equipment, net  $254,464   $295,374   $252,044   $272,326   $357,973   $369,293   $173,539 
Deposits  $1,595   $2,869   $2,393   $1,995   $-   $2,295   $1,943 
Total assets  $263,436   $305,980   $265,094   $302,400   $357,423   $384,523   $183,805 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,188   $3,092   $3,082   $8,491   $1,571   $2,820   $1,997 
Due to (from) related parties   3,043    9,071    6,035    8,175    39,623    5,481    10,613 
Total Current liabilities   5,232    12,162    9,116    16,666    41,194    8,301    12,610 
Tenant deposits   1,595    2,869    2,393    1,995    -    2,295    1,943 
Mortgage payable, net   125,217    212,350    180,003    -    237,617    261,322    112,602 
Total Liabilities   132,044    227,381    191,511    18,661    278,810    271,918    127,154 
Members’ equity (deficit)                                   
Members’ capital   149,628    100,776    91,257    285,974    123,321    132,004    77,946 
Retained earnings (accumulated deficit)   (18,235)   (22,177)   (17,674)   (2,236)   (44,709)   (19,399)   (21,295)
Total members’ equity (deficit)   131,393    78,599    73,583    283,739    78,613    112,605    56,650 
Total liabilities and members’ equity (deficit)  $263,436   $305,980   $265,094   $302,400   $357,423   $384,523   $183,805 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-57

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Latte   Lennox   Lierly   Lily   Limestone   Litton   Longwoods 
ASSETS                            
Current assets:                            
Cash  $9,117   $4,237   $21,077   $5,397   $1,897   $9,012   $21,591 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   723    931    295    4,660    1,025    554    532 
Due from (to) third party property managers   9,945    3,560    831    7,687    (5,182)   6,564    3,958 
Total current assets   19,786    8,727    22,204    17,745    (2,261)   16,130    26,081 
Property and equipment, net  $353,266   $203,140   $197,735   $504,543   $275,655   $313,889   $267,766 
Deposits  $3,293   $1,695   $1,750   $2,395   $3,293   $2,445   $1,995 
Total assets  $376,344   $213,562   $221,688   $524,683   $276,686   $332,464   $295,842 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $3,802   $2,924   $7,536   $2,068   $1,542   $4,629   $9,648 
Due to (from) related parties   11,124    5,444    6,663    65,815    (5,721)   (6,877)   2,868 
Total Current liabilities   14,927    8,368    14,199    67,883    (4,178)   (2,248)   12,516 
Tenant deposits   3,293    1,695    1,750    2,395    3,293    2,445    1,995 
Mortgage payable, net   -    137,782    129,743    308,645    200,898    156,867    - 
Total Liabilities   18,219    147,844    145,692    378,923    200,012    157,064    14,511 
Members’ equity (deficit)                                   
Members’ capital   360,828    78,810    73,130    211,475    108,182    181,077    291,212 
Retained earnings (accumulated deficit)   (2,703)   (13,092)   2,867    (65,715)   (31,508)   (5,676)   (9,881)
Total members’ equity (deficit)   358,125    65,718    75,997    145,760    76,674    175,400    281,331 
Total liabilities and members’ equity (deficit)  $376,344   $213,562   $221,688   $524,683   $276,686   $332,464   $295,842 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-58

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Lookout   Loretta   Louis   Louise   Lovejoy   Luna   Lurleen 
ASSETS                            
Current assets:                            
Cash  $9,326   $10,811   $23,129   $7,859   $977   $2,813   $109 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   452    1,280    562    2,283    1,828    836    510 
Due from (to) third party property managers   5,827    8,996    6,847    6,765    (346)   (3,791)   (3,154)
Total current assets   15,605    21,087    30,538    16,908    2,459    (142)   (2,535)
Property and equipment, net  $333,483   $664,780   $267,683   $265,226   $282,429   $201,546   $221,497 
Deposits  $2,145   $3,445   $1,895   $2,369   $1,995   $1,750   $1,695 
Total assets  $351,232   $689,312   $300,116   $284,503   $286,883   $203,153   $220,657 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $5,346   $7,579   $5,359   $3,055   $2,805   $3,131   $3,269 
Due to (from) related parties   10,232    15,350    4,387    5,039    6,547    5,268    (3,153)
Total Current liabilities   15,577    22,928    9,747    8,094    9,352    8,400    116 
Tenant deposits   2,145    3,445    1,895    2,369    1,995    1,750    1,695 
Mortgage payable, net   -    -    -    180,008    202,958    147,944    107,800 
Total Liabilities   17,722    26,373    11,642    190,471    214,305    158,094    109,611 
Members’ equity (deficit)                                   
Members’ capital   339,063    678,794    293,870    101,524    101,235    65,905    128,594 
Retained earnings (accumulated deficit)   (5,553)   (15,856)   (5,396)   (7,493)   (28,658)   (20,845)   (17,548)
Total members’ equity (deficit)   333,510    662,939    288,474    94,031    72,578    45,060    111,046 
Total liabilities and members’ equity (deficit)  $351,232   $689,312   $300,116   $284,503   $286,883   $203,153   $220,657 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-59

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

  

   Madison   Mae   Magnolia   Malbec   Mammoth   Marcelo   Marie 
ASSETS                            
Current assets:                            
Cash  $2,797   $13,420   $24,684   $13,690   $5,883   $15,306   $22,860 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   977    756    1,282    458    2,445    295    439 
Due from (to) third party property managers   (2,159)   12,854    1,984    (5,721)   (7,912)   4,994    7,341 
Total current assets   1,615    27,030    27,950    8,427    416    20,595    30,640 
Property and equipment, net  $198,877   $342,907   $246,933   $298,434   $327,989   $276,392   $313,411 
Deposits  $1,449   $4,190   $1,795   $2,195   $2,095   $1,945   $2,745 
Total assets  $201,941   $374,128   $276,679   $309,056   $330,500   $298,932   $346,796 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,152   $12,627   $2,232   $3,265   $1,335   $5,050   $9,647 
Due to (from) related parties   10,196    8,458    31,802    7,235    11,422    8,874    4,123 
Total Current liabilities   12,348    21,085    34,034    10,500    12,757    13,924    13,770 
Tenant deposits   1,449    4,190    1,795    2,195    2,095    1,945    2,745 
Mortgage payable, net   99,848    -    170,986    204,900    235,613    -    - 
Total Liabilities   113,644    25,275    206,815    217,595    250,465    15,869    16,515 
Members’ equity (deficit)                                   
Members’ capital   118,216    355,761    91,219    104,352    119,439    294,851    331,273 
Retained earnings (accumulated deficit)   (29,919)   (6,908)   (21,355)   (12,891)   (39,404)   (11,787)   (991)
Total members’ equity (deficit)   88,297    348,853    69,864    91,461    80,035    283,064    330,281 
Total liabilities and members’ equity (deficit)  $201,941   $374,128   $276,679   $309,056   $330,500   $298,932   $346,796 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-60

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Marietta   Marion   Marple   Martell   Mary   Matchingham   McGregor 
ASSETS                            
Current assets:                            
Cash  $1,099   $21,583   $13,821   $14,172   $15,677   $8,340   $9,748 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,889    1,169    222    563    481    800    150 
Due from (to) third party property managers   (382)   2,989    3,027    (1,276)   5,920    6,841    5,471 
Total current assets   2,606    25,741    17,070    13,459    22,078    15,981    15,369 
Property and equipment, net  $293,705   $258,246   $174,457   $258,391   $269,971   $199,842   $289,920 
Deposits  $2,095   $1,795   $2,093   $-   $2,095   $1,795   $1,895 
Total assets  $298,405   $285,782   $193,620   $271,849   $294,144   $217,618   $307,184 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,947   $7,641   $5,260   $4,256   $7,434   $3,524   $7,519 
Due to (from) related parties   584    10,553    1,156    4,410    1,957    4,707    10,337 
Total Current liabilities   3,530    18,194    6,416    8,667    9,392    8,230    17,856 
Tenant deposits   2,095    1,795    2,093    -    2,095    1,795    1,895 
Mortgage payable, net   148,320    -    -    -    -    144,649    - 
Total Liabilities   153,946    19,989    8,508    8,667    11,487    154,675    19,751 
Members’ equity (deficit)                                   
Members’ capital   172,225    280,442    193,734    282,790    289,647    69,057    297,876 
Retained earnings (accumulated deficit)   (27,766)   (14,649)   (8,623)   (19,607)   (6,990)   (6,114)   (10,443)
Total members’ equity (deficit)   144,459    265,793    185,111    263,183    282,657    62,943    287,433 
Total liabilities and members’ equity (deficit)  $298,405   $285,782   $193,620   $271,849   $294,144   $217,618   $307,184 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-61

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   McLovin   Meadow   Mimosa   Mojave   Murphy   Mycroft   Nugget 
ASSETS                            
Current assets:                            
Cash  $4,318   $1,014   $2,442   $10,626   $8,272   $15,368   $15,822 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   2,690    1,456    368    587    1,732    226    600 
Due from (to) third party property managers   8,910    8,019    7,669    725    9,006    3,995    8,428 
Total current assets   15,918    10,489    10,479    11,938    19,010    19,588    24,850 
Property and equipment, net  $501,918   $302,704   $206,826   $228,514   $281,290   $178,409   $541,108 
Deposits  $3,495   $-   $1,495   $1,096   $2,295   $1,395   $3,295 
Total assets  $521,332   $313,192   $218,800   $241,548   $302,594   $199,392   $569,253 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $3,999   $2,547   $3,134   $2,892   $4,564   $5,363   $14,298 
Due to (from) related parties   9,584    629    (2,133)   10,280    5,865    2,997    24,205 
Total Current liabilities   13,583    3,176    1,000    13,172    10,429    8,360    38,503 
Tenant deposits   3,495    -    1,495    1,596    2,295    1,395    3,295 
Mortgage payable, net   364,228    212,715    105,484    160,110    205,125    -    - 
Total Liabilities   381,305    215,892    107,980    174,877    217,849    9,755    41,798 
Members’ equity (deficit)                                   
Members’ capital   171,498    129,802    123,043    71,377    97,413    196,027    545,466 
Retained earnings (accumulated deficit)   (31,472)   (32,501)   (12,222)   (4,707)   (12,668)   (6,390)   (18,012)
Total members’ equity (deficit)   140,027    97,301    110,821    66,670    84,745    189,637    527,454 
Total liabilities and members’ equity (deficit)  $521,332   $313,192   $218,800   $241,548   $302,594   $199,392   $569,253 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-62

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Odessa   Olive   Oly   Onyx   Oscar   Osceola   Osprey 
ASSETS                            
Current assets:                            
Cash  $647   $306   $12,870   $13,900   $44,726   $16,995   $12,831 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   2,825    1,778    2,367    -    752    2,196    1,094 
Due from (to) third party property managers   (221)   1,622    7,787    2,183    (23,223)   35    11,792 
Total current assets   3,250    3,706    23,025    16,084    22,255    19,226    25,718 
Property and equipment, net  $504,017   $220,863   $502,542   $337,397   $254,448   $278,508   $343,233 
Deposits  $4,193   $1,895   $2,795   $2,295   $-   $1,696   $4,590 
Total assets  $511,460   $226,464   $528,362   $355,776   $276,703   $299,430   $373,540 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,648   $2,775   $3,551   $7,699   $6,425   $7,840   $13,008 
Due to (from) related parties   26,228    8,934    8,577    5,740    14,625    5,420    10,284 
Total Current liabilities   28,876    11,709    12,128    13,438    21,050    13,260    23,291 
Tenant deposits   4,193    1,895    2,795    2,295    -    1,696    4,590 
Mortgage payable, net   371,208    124,257    364,932    -    -    -    - 
Total Liabilities   404,277    137,861    379,855    15,733    21,050    14,956    27,881 
Members’ equity (deficit)                                   
Members’ capital   184,625    113,328    170,998    347,900    274,542    306,396    354,430 
Retained earnings (accumulated deficit)   (77,442)   (24,726)   (22,491)   (7,857)   (18,889)   (21,922)   (8,771)
Total members’ equity (deficit)   107,183    88,603    148,506    340,043    255,653    284,474    345,659 
Total liabilities and members’ equity (deficit)  $511,460   $226,464   $528,362   $355,776   $276,703   $299,430   $373,540 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-63

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Otoro   Palmer   Patrick   Peanut   Pearl   Pecan   Peterson 
ASSETS                            
Current assets:                            
Cash  $1,822   $22,375   $8,850   $167   $24,130   $18,851   $21,117 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,556    509    310    991    759    285    239 
Due from (to) third party property managers   5,391    (1,230)   (194)   8,249    (4,998)   940    (1,809)
Total current assets   8,768    21,654    8,965    9,407    19,891    20,076    19,547 
Property and equipment, net  $384,313   $296,442   $199,594   $207,503   $527,387   $192,509   $226,079 
Deposits  $-   $-   $1,575   $2,093   $2,795   $3,613   $1,595 
Total assets  $393,081   $318,096   $210,134   $219,002   $550,073   $216,199   $247,221 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $1,335   $5,549   $5,958   $2,316   $9,185   $7,087   $2,811 
Due to (from) related parties   55,573    8,014    6,129    954    20,250    6,964    (1,388)
Total Current liabilities   56,908    13,563    12,088    3,270    29,435    14,051    1,423 
Tenant deposits   -    -    1,575    2,093    2,795    3,613    1,595 
Mortgage payable, net   271,756    -    107,829    145,256    -    112,381    - 
Total Liabilities   328,664    13,563    121,491    150,618    32,230    130,045    3,018 
Members’ equity (deficit)                                   
Members’ capital   134,632    317,249    93,644    77,098    546,949    84,667    253,685 
Retained earnings (accumulated deficit)   (70,215)   (12,715)   (5,001)   (8,714)   (29,107)   1,488    (9,482)
Total members’ equity (deficit)   64,418    304,533    88,643    68,384    517,843    86,154    244,203 
Total liabilities and members’ equity (deficit)  $393,081   $318,096   $210,134   $219,002   $550,073   $216,199   $247,221 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-64

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Piedmont   Pinot   Pioneer   Plumtree   Point   Porthos   Quincy 
ASSETS                            
Current assets:                            
Cash  $3,086   $16,588   $7,950   $23,770   $8,937   $28,240   $6,547 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,834    1,229    791    280    3,523    948    538 
Due from (to) third party property managers   7,337    (2,850)   9,232    1,694    9,586    4,125    7,283 
Total current assets   12,257    14,967    17,974    25,744    22,046    33,314    14,368 
Property and equipment, net  $372,038   $301,313   $567,492   $185,939   $368,372   $300,696   $529,780 
Deposits  $2,295   $2,195   $3,445   $3,000   $2,295   $2,295   $2,695 
Total assets  $386,589   $318,475   $588,911   $214,683   $392,713   $336,305   $546,842 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $3,061   $3,418   $12,112   $7,378   $2,829   $11,717   $9,939 
Due to (from) related parties   (8,808)   7,905    21,271    7,914    8,269    5,079    30,900 
Total Current liabilities   (5,747)   11,324    33,383    15,292    11,098    16,796    40,839 
Tenant deposits   2,295    2,195    3,445    3,000    2,295    2,295    2,695 
Mortgage payable, net   187,900    207,026    -    109,972    265,145    -    - 
Total Liabilities   184,448    220,545    36,828    128,264    278,538    19,091    43,534 
Members’ equity (deficit)                                   
Members’ capital   225,791    105,095    576,794    82,118    132,426    323,813    549,468 
Retained earnings (accumulated deficit)   (23,649)   (7,165)   (24,711)   4,301    (18,250)   (6,600)   (46,160)
Total members’ equity (deficit)   202,141    97,930    552,083    86,419    114,176    317,214    503,308 
Total liabilities and members’ equity (deficit)  $386,589   $318,475   $588,911   $214,683   $392,713   $336,305   $546,842 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-65

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Redondo   Regency   Reginald   Reynolds   Ribbonwalk   Richardson   Richmond 
ASSETS                            
Current assets:                            
Cash  $1,352   $8,982   $12,317   $34,185   $287   $19,245   $2,672 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   535    1,005    706    916    1,743    571    347 
Due from (to) third party property managers   8,413    6,577    4,750    2,325    12,780    5,040    (2,076)
Total current assets   10,300    16,564    17,774    37,425    14,810    24,856    942 
Property and equipment, net  $306,357   $270,413   $428,662   $416,302   $302,694   $304,886   $381,043 
Deposits  $2,695   $3,793   $4,293   $2,495   $1,995   $1,995   $2,695 
Total assets  $319,352   $290,769   $450,728   $456,222   $319,499   $331,737   $384,681 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $5,276   $7,765   $4,031   $4,776   $2,444   $8,115   $3,798 
Due to (from) related parties   504    (6,887)   29,727    22,444    13,541    7,713    384,342 
Total Current liabilities   5,780    878    33,758    27,220    15,986    15,827    388,140 
Tenant deposits   2,695    3,793    4,293    2,495    1,995    1,995    2,695 
Mortgage payable, net   154,481    134,750    -    -    221,746    -    - 
Total Liabilities   162,956    139,420    38,050    29,715    239,726    17,822    390,835 
Members’ equity (deficit)                                   
Members’ capital   179,456    155,523    445,802    431,579    114,072    324,069    2,682 
Retained earnings (accumulated deficit)   (23,060)   (4,174)   (33,124)   (5,072)   (34,299)   (10,155)   (8,836)
Total members’ equity (deficit)   156,396    151,349    412,678    426,507    79,773    313,915    (6,154)
Total liabilities and members’ equity (deficit)  $319,352   $290,769   $450,728   $456,222   $319,499   $331,737   $384,681 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-66

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Ridge   Ritter   River   Riverwalk   Rooney   Roseberry   Rosewood 
ASSETS                            
Current assets:                            
Cash  $1,258   $6,086   $8,965   $11,665   $3,987   $2,190   $2,222 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,189    766    1,348    382    2,878    1,479    983 
Due from (to) third party property managers   10,377    2,143    3,469    9,621    6,628    8,910    7,098 
Total current assets   12,824    8,995    13,782    21,667    13,493    12,578    10,302 
Property and equipment, net  $204,077   $487,565   $249,940   $382,628   $352,805   $308,394   $260,945 
Deposits  $2,543   $3,500   $2,993   $4,790   $2,095   $3,443   $2,768 
Total assets  $219,443   $500,060   $266,715   $409,085   $368,393   $324,415   $274,015 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,916   $4,015   $3,466   $2,933   $2,428   $3,243   $2,059 
Due to (from) related parties   5,338    23,691    6,833    14,489    12,321    10,305    6,187 
Total Current liabilities   8,254    27,706    10,299    17,422    14,749    13,548    8,247 
Tenant deposits   2,543    3,500    2,993    4,790    2,095    3,443    2,768 
Mortgage payable, net   138,425    -    170,378    -    256,502    209,104    186,953 
Total Liabilities   149,222    31,206    183,669    22,212    273,346    226,094    197,967 
Members’ equity (deficit)                                   
Members’ capital   79,257    514,931    94,431    392,540    128,669    110,481    96,986 
Retained earnings (accumulated deficit)   (9,036)   (46,076)   (11,386)   (5,666)   (33,622)   (12,160)   (20,939)
Total members’ equity (deficit)   70,221    468,854    83,045    386,873    95,046    98,321    76,048 
Total liabilities and members’ equity (deficit)  $219,443   $500,060   $266,715   $409,085   $368,393   $324,415   $274,015 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-67

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Roxy   Saddlebred   Saint   Sajni   Salem   Salinas   Saturn 
ASSETS                            
Current assets:                            
Cash  $4,069   $9,534   $21,695   $6,958   $10,972   $14,381   $4,379 
Other receivables   -    1,377    -    -    -    -    - 
Prepaid expenses   1,220    2,023    1,685    953    1,631    251    1,185 
Due from (to) third party property managers   6,210    8,882    5,730    7,579    2,529    (10,745)   5,527 
Total current assets   11,499    21,815    29,109    15,489    15,133    3,887    11,091 
Property and equipment, net  $314,285   $459,829   $306,883   $307,597   $298,399   $233,538   $207,061 
Deposits  $1,995   $4,168   $2,495   $2,745   $2,195   $1,945   $1,806 
Total assets  $327,779   $485,812   $338,487   $325,831   $315,728   $239,370   $219,958 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,194   $2,522   $3,109   $5,752   $3,199   $4,818   $2,266 
Due to (from) related parties   15,726    28,291    13,578    13,547    6,918    19,881    12,764 
Total Current liabilities   17,921    30,813    16,687    19,298    10,117    24,699    15,030 
Tenant deposits   1,995    4,168    2,495    2,745    2,195    1,945    1,806 
Mortgage payable, net   218,230    329,500    209,801    -    208,794    -    138,092 
Total Liabilities   238,146    364,480    228,983    22,043    221,106    26,644    154,928 
Members’ equity (deficit)                                   
Members’ capital   116,601    172,313    114,010    311,917    101,124    243,609    87,756 
Retained earnings (accumulated deficit)   (26,968)   (50,981)   (4,506)   (8,128)   (6,503)   (30,883)   (22,726)
Total members’ equity (deficit)   89,633    121,332    109,504    303,788    94,622    212,726    65,030 
Total liabilities and members’ equity (deficit)  $327,779   $485,812   $338,487   $325,831   $315,728   $239,370   $219,958 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-68

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Scepter   Sequoyah   Shallowford   Shoreline   Sigma   Simon   Sims 
ASSETS                            
Current assets:                            
Cash  $4,796   $2,000   $4,335   $-   $7,893   $18,491   $17,985 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,836    551    2,046    1,285    1,830    470    478 
Due from (to) third party property managers   4,967    5,267    6,043    4,747    6,385    5,614    4,951 
Total current assets   11,598    7,818    12,424    6,033    16,108    24,576    23,414 
Property and equipment, net  $257,539   $242,237   $349,964   $291,210   $365,193   $288,283   $271,179 
Deposits  $1,795   $1,795   $2,545   $2,295   $2,869   $2,095   $2,768 
Total assets  $270,932   $251,850   $364,933   $299,538   $384,169   $314,954   $297,361 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,149   $5,650   $3,664   $2,857   $3,160   $8,259   $5,368 
Due to (from) related parties   9,228    2,493    520    10,715    3,442    2,543    3,917 
Total Current liabilities   11,376    8,143    4,183    13,572    6,602    10,801    9,286 
Tenant deposits   1,795    1,795    2,545    2,295    2,869    2,095    2,768 
Mortgage payable, net   186,989    121,572    176,630    209,988    266,914    -    - 
Total Liabilities   200,160    131,510    183,358    225,855    276,384    12,896    12,053 
Members’ equity (deficit)                                   
Members’ capital   95,066    143,329    206,811    101,612    127,120    310,236    294,434 
Retained earnings (accumulated deficit)   (24,294)   (22,989)   (25,236)   (27,929)   (19,335)   (8,179)   (9,127)
Total members’ equity (deficit)   70,772    120,340    181,574    73,683    107,785    302,058    285,308 
Total liabilities and members’ equity (deficit)  $270,932   $251,850   $364,933   $299,538   $384,169   $314,954   $297,361 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-69

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Soapstone   Sodalis   Spencer   Splash   Spring   Stonebriar   Sugar 
ASSETS                            
Current assets:                            
Cash  $16,910   $5,917   $597   $13,815   $9,230   $14,993   $2,820 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   266    355    1,554    409    404    930    1,997 
Due from (to) third party property managers   2,669    6,337    8,147    18    8,685    1,665    7,668 
Total current assets   19,845    12,608    10,298    14,241    18,320    17,588    12,484 
Property and equipment, net  $202,333   $280,566   $281,901   $201,639   $239,799   $195,559   $292,051 
Deposits  $(250)  $2,000   $2,349   $1,550   $1,695   $2,790   $3,590 
Total assets  $221,929   $295,174   $294,548   $217,431   $259,813   $215,937   $308,126 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $6,596   $6,474   $4,117   $6,027   $9,426   $2,198   $2,510 
Due to (from) related parties   6,490    7,811    7,078    8,258    4,994    21,741    5,891 
Total Current liabilities   13,086    14,285    11,195    14,285    14,420    23,939    8,400 
Tenant deposits   1,600    2,000    2,349    1,550    1,695    2,790    3,590 
Mortgage payable, net   126,898    -    192,533    121,870    -    132,740    198,965 
Total Liabilities   141,584    16,285    206,077    137,705    16,115    159,468    210,956 
Members’ equity (deficit)                                   
Members’ capital   80,286    295,778    103,923    83,957    249,661    76,169    124,080 
Retained earnings (accumulated deficit)   59    (16,889)   (15,452)   (4,231)   (5,963)   (19,700)   (26,910)
Total members’ equity (deficit)   80,345    278,889    88,471    79,726    243,698    56,469    97,170 
Total liabilities and members’ equity (deficit)  $221,929   $295,174   $294,548   $217,431   $259,813   $215,937   $308,126 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-70

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Summerset   Sundance   Sunnyside   Swift   Taylor   Terracotta   Theodore 
ASSETS                            
Current assets:                            
Cash  $2,097   $7,408   $21,022   $33,205   $1,314   $6,476   $20,437 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,205    505    515    (133)   986    1,591    470 
Due from (to) third party property managers   (14,178)   14,931    4,148    2,287    200    6,562    138 
Total current assets   (10,876)   22,844    25,684    35,358    2,500    14,629    21,046 
Property and equipment, net  $254,009   $314,109   $217,310   $335,366   $226,434   $307,776   $286,138 
Deposits  $2,119   $2,695   $1,745   $2,295   $1,495   $3,143   $1,995 
Total assets  $245,252   $339,647   $244,739   $373,019   $230,429   $325,548   $309,179 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,010   $13,434   $5,025   $5,073   $2,291   $3,010   $7,881 
Due to (from) related parties   6,849    8,891    3,362    24,334    1,139    2,285    (666)
Total Current liabilities   8,858    22,326    8,387    29,406    3,430    5,296    7,215 
Tenant deposits   2,119    2,695    1,745    2,295    1,495    3,143    1,995 
Mortgage payable, net   163,550    154,481    -    -    111,950    220,328    - 
Total Liabilities   174,527    179,502    10,132    31,701    116,875    228,766    9,210 
Members’ equity (deficit)                                   
Members’ capital   93,169    178,730    232,921    341,728    139,613    113,454    311,968 
Retained earnings (accumulated deficit)   (22,444)   (18,585)   1,687    (410)   (26,059)   (16,673)   (11,999)
Total members’ equity (deficit)   70,725    160,145    234,608    341,318    113,555    96,781    299,969 
Total liabilities and members’ equity (deficit)  $245,252   $339,647   $244,739   $373,019   $230,429   $325,548   $309,179 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-71

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Tulip   Tuscan   Tuscarora   Tuxford   Vernon   Walton   Wave 
ASSETS                            
Current assets:                            
Cash  $664   $17,299   $18,305   $360   $1,136   $4,598   $1,332 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,198    822    456    1,970    1,400    424    1,507 
Due from (to) third party property managers   4,874    (2,204)   13,419    8,658    6,371    5,502    (6,698)
Total current assets   6,736    15,918    32,180    10,988    8,907    10,525    (3,860)
Property and equipment, net  $305,415   $301,008   $328,088   $251,501   $246,482   $290,685   $321,276 
Deposits  $4,390   $2,295   $3,295   $1,895   $2,843   $2,095   $2,744 
Total assets  $316,541   $319,221   $363,563   $264,384   $258,232   $303,304   $320,160 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,456   $7,536   $8,830   $2,299   $2,630   $11,750   $1,335 
Due to (from) related parties   22,905    3,037    7,692    19,343    6,172    33,421    37,051 
Total Current liabilities   25,361    10,573    16,521    21,642    8,802    45,171    38,386 
Tenant deposits   4,390    2,295    3,295    1,895    2,843    2,095    2,744 
Mortgage payable, net   219,627    180,714    -    176,539    179,870    -    221,719 
Total Liabilities   249,378    193,582    19,816    200,076    191,514    47,266    262,849 
Members’ equity (deficit)                                   
Members’ capital   109,378    128,250    349,891    93,691    89,413    304,003    112,795 
Retained earnings (accumulated deficit)   (42,214)   (2,612)   (6,144)   (29,384)   (22,696)   (47,965)   (55,484)
Total members’ equity (deficit)   67,164    125,639    343,747    64,308    66,717    256,038    57,312 
Total liabilities and members’ equity (deficit)  $316,541   $319,221   $363,563   $264,384   $258,232   $303,304   $320,160 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-72

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Weldon   Wellington   Wentworth   Wescott   Westchester   Wildwood   Willow 
ASSETS                            
Current assets:                            
Cash  $5,100   $21,206   $11,461   $5,493   $-   $8,715   $5,756 
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   1,095    403    940    981    1,453    971    557 
Due from (to) third party property managers   8,600    1,812    (2,744)   (1,074)   12,341    4,995    5,132 
Total current assets   14,795    23,421    9,657    5,400    13,795    14,681    11,445 
Property and equipment, net  $199,231   $398,481   $221,127   $264,822   $320,137   $212,703   $283,647 
Deposits  $2,168   $2,395   $3,190   $4,985   $3,119   $1,845   $2,195 
Total assets  $216,193   $424,297   $233,974   $275,207   $337,050   $229,229   $297,287 
                                    
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                                   
Current liabilities:                                   
Accrued expenses  $2,049   $5,978   $3,431   $2,223   $3,963   $2,509   $7,684 
Due to (from) related parties   10,405    8,937    454    14,090    11,196    4,220    (2,207)
Total Current liabilities   12,455    14,915    3,886    16,313    15,159    6,729    5,477 
Tenant deposits   2,168    2,395    3,190    4,985    3,119    1,845    2,195 
Mortgage payable, net   134,859    -    155,104    132,958    196,389    107,214    - 
Total Liabilities   149,482    17,310    162,179    154,256    214,667    115,787    7,672 
Members’ equity (deficit)                                   
Members’ capital   83,977    418,991    76,306    149,904    147,235    123,234    293,186 
Retained earnings (accumulated deficit)   (17,265)   (12,004)   (4,511)   (28,954)   (24,852)   (9,792)   (3,571)
Total members’ equity (deficit)   66,712    406,987    71,795    120,950    122,383    113,442    289,615 
Total liabilities and members’ equity (deficit)  $216,193   $424,297   $233,974   $275,207   $337,050   $229,229   $297,287 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-73

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

 

 

   Wilson   Winchester   Windsor   Winston   Wisteria   Consolidated 
ASSETS                        
Current assets:                        
Cash  $16,705   $22,928   $4,851   $12,303   $10,967   $2,531,500 
Other receivables   -    -    -    -    -    (2,927)
Prepaid expenses   487    426    3,074    609    1,200    277,277 
Due from (to) third party property managers   6,966    1,861    10,262    12,011    (5,459)   995,416 
Total current assets   24,158    25,215    18,186    24,923    6,707    3,801,266 
Property and equipment, net  $375,593   $269,758   $328,756   $319,369   $292,979    74,577,406 
Deposits  $2,445   $1,895   $3,893   $1,795   $2,095    558,347 
Total assets  $402,196   $296,867   $350,835   $346,087   $301,781   $78,937,019 
                               
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)                              
Current liabilities:                              
Accrued expenses  $9,546   $1,948   $4,219   $5,166   $2,101   $1,184,542 
Due to (from) related parties   11,004    15,146    9,197    5,028    4,457    3,663,314 
Total Current liabilities   20,549    17,094    13,416    10,193    6,558    4,847,855 
Tenant deposits   2,445    1,895    3,893    1,795    2,095    562,789 
Mortgage payable, net   -    -    224,727    -    205,305    23,890,137 
Total Liabilities   22,994    18,989    242,035    11,988    213,958    29,300,781 
Members’ equity (deficit)                              
Members’ capital   385,745    292,240    118,730    337,608    101,611    54,027,424 
Retained earnings (accumulated deficit)   (6,543)   (14,362)   (9,931)   (3,509)   (13,788)   (4,391,186)
Total members’ equity (deficit)   379,202    277,879    108,799    334,099    87,823    49,636,238 
Total liabilities and members’ equity (deficit)  $402,196   $296,867   $350,835   $346,087   $301,781   $78,937,019 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-74

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

    100    101    Abbington    Abernant    Alvin    Amber    Apollo 
                                    
Rental income  $17,600   $37,140   $31,830   $16,264   $27,840   $21,835   $14,726 
                                    
Operating expenses:                                   
Depreciation   16,890    17,438    14,494    6,248    8,735    8,416    6,418 
Insurance   1,716    1,696    1,388    1,073    1,673    1,017    1,047 
Management fees, related party   8,116    9,396    7,247    1,895    3,292    1,658    1,132 
Management Fees   719    1,052    873    900    880    1,553    1,120 
Repairs & maintenance   2,762    1,980    (6,529)   669    -    2,061    3,880 
Property taxes   3,076    3,089    2,609    1,366    1,159    1,691    2,329 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   3,982    3,425    2,328    5,719    5,256    4,218    2,998 
Total operating expenses   37,261    38,076    22,411    17,869    20,996    20,612    18,923 
                                    
Income (loss) from operations   (19,661)   (936)   9,419    (1,605)   6,844    1,223    (4,197)
                                    
Other income (expense)                                   
Interest expenses   -    48    -    -    -    7,876    7,848 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    48    -    -    -    7,876    7,848 
                                    
Net Income (Loss)  $(19,661)  $(984)  $9,419   $(1,605)  $6,844   $(6,653)  $(12,045)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-75

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Aster   Augusta   Avebury   Avondale   Badminton   Ballinger   Bandelier 
                             
Rental income  $18,840   $23,940   $17,587   $18,209   $26,130   $22,418   $19,459 
                                    
Operating expenses:                                   
Depreciation   7,009    8,150    7,990    9,047    8,461    8,215    8,268 
Insurance   823    1,198    1,174    1,629    1,664    1,096    1,331 
Management fees, related party   2,197    2,863    1,785    2,807    1,489    2,815    2,334 
Management Fees   902    1,015    1,125    971    1,704    1,158    1,312 
Repairs & maintenance   729    1,340    748    855    -    3,572    4,571 
Property taxes   3,477    3,402    3,725    3,930    8,776    1,570    3,583 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,652    2,006    4,133    3,793    1,455    3,978    4,008 
Total operating expenses   16,789    19,974    20,679    23,032    23,548    22,404    25,406 
                                    
Income (loss) from operations   2,051    3,966    (3,092)   (4,823)   2,582    14    (5,947)
                                    
Other income (expense)                                   
Interest expenses   8,721    -    7,957    -    8,187    -    9,577 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   8,721    -    7,957    -    8,187    -    9,577 
                                    
Net Income (Loss)  $(6,670)  $3,966   $(11,048)  $(4,823)  $(5,605)  $14   $(15,525)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-76

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Baron   Basil   Bayside   Bazzel   Bedford   Bella   Belle 
                             
Rental income  $27,163   $19,134   $25,925   $21,861   $19,004   $23,340   $31,373 
                                    
Operating expenses:                                   
Depreciation   16,005    5,569    7,050    7,527    7,695    8,412    12,084 
Insurance   2,030    775    1,602    985    2,197    1,104    1,746 
Management fees, related party   8,004    1,396    1,720    3,305    1,298    2,857    3,109 
Management Fees   1,057    1,091    1,584    1,356    1,454    980    2,041 
Repairs & maintenance   2,476    328    1,377    1,937    6,361    1,399    4,069 
Property taxes   6,664    3,093    9,723    5,250    16,576    6,476    5,677 
Credit loss expense (recovery)   -    (960)   -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,889    1,534    2,291    3,840    4,509    3,450    3,118 
Total operating expenses   39,125    12,825    25,346    24,200    40,090    24,679    31,844 
                                    
Income (loss) from operations   (11,962)   6,309    579    (2,340)   (21,087)   (1,339)   (471)
                                    
Other income (expense)                                   
Interest expenses   -    6,183    7,773    59    7,609    -    64 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    6,183    7,773    59    7,609    -    64 
                                    
Net Income (Loss)  $(11,962)  $126   $(7,194)  $(2,399)  $(28,695)  $(1,339)  $(535)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-77

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Belvedere   Bergenia   Blossom   Bonneau   Brainerd   Braxton   Brennan 
                             
Rental income  $27,540   $19,440   $17,114   $28,050   $26,940   $22,260   $17,836 
                                    
Operating expenses:                                   
Depreciation   8,103    7,963    6,990    10,275    7,997    8,903    6,230 
Insurance   1,651    791    873    2,973    910    869    1,078 
Management fees, related party   3,133    2,017    2,059    3,420    3,055    2,882    2,072 
Management Fees   1,012    924    2,166    888    843    1,319    705 
Repairs & maintenance   1,422    843    13,311    -    44    4,787    11,028 
Property taxes   3,553    386    1,321    8,379    1,576    3,598    3,437 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,056    1,579    5,409    2,611    3,017    1,572    3,411 
Total operating expenses   20,930    14,504    32,130    28,545    17,442    23,929    27,961 
                                    
Income (loss) from operations   6,610    4,936    (15,016)   (495)   9,498    (1,669)   (10,125)
                                    
Other income (expense)                                   
Interest expenses   -    -    20    -    10,073    29    9,085 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    -    20    -    10,073    29    9,085 
                                    
Net Income (Loss)  $6,610   $4,936   $(15,036)  $(495)  $(575)  $(1,698)  $(19,210)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-78

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Briarwood   Brooklyn   Burlington   Butter   Calvin   Camino   Cawley 
                             
Rental income  $16,635   $14,228   $27,252   $28,052   $21,740   $15,216   $26,340 
                                    
Operating expenses:                                   
Depreciation   5,733    5,814    17,832    10,379    6,491    7,289    8,624 
Insurance   1,084    745    2,345    3,958    757    891    1,237 
Management fees, related party   1,820    1,405    8,991    1,970    2,309    1,514    3,151 
Management Fees   770    729    1,474    1,884    1,065    1,293    968 
Repairs & maintenance   -    75    3,500    5,099    2,190    3,464    368 
Property taxes   (490)   1,251    6,243    8,537    2,917    1,943    3,696 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   3,383    1,529    4,762    5,723    1,658    3,818    2,183 
Total operating expenses   12,299    11,549    45,146    37,551    17,388    20,212    20,228 
                                    
Income (loss) from operations   4,335    2,679    (17,894)   (9,499)   4,352    (4,996)   6,112 
                                    
Other income (expense)                                   
Interest expenses   -    5,801    -    10,323    -    -    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    5,801    -    10,323    -    -    - 
                                    
Net Income (Loss)  $4,335   $(3,122)  $(17,894)  $(19,822)  $4,352   $(4,996)  $6,112 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-79

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Centennial   Chaparral   Chelsea   Chester   Chickamauga   Chinook   Chitwood 
                             
Rental income  $14,824   $18,844   $23,470   $24,498   $27,840   $23,940   $28,620 
                                    
Operating expenses:                                   
Depreciation   5,875    5,399    8,468    10,190    10,258    9,903    10,510 
Insurance   903    926    904    1,496    1,636    1,449    1,539 
Management fees, related party   779    1,593    1,940    3,422    3,621    2,905    3,760 
Management Fees   1,243    1,062    1,571    818    912    953    993 
Repairs & maintenance   6,134    1,857    -    90    88    659    985 
Property taxes   3,157    2,606    4,222    4,523    1,665    3,599    4,777 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   (80,846)   -    -    -    -    -    - 
Other operating expenses   6,622    1,738    2,361    3,792    3,572    2,244    2,295 
Total operating expenses   (56,133)   15,181    19,465    24,330    21,752    21,712    24,858 
                                    
Income (loss) from operations   70,956    3,664    4,005    168    6,088    2,228    3,762 
                                    
Other income (expense)                                   
Interest expenses   14,115    4,400    8,429    12,658    -    14    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   14,115    4,400    8,429    12,658    -    14    - 
                                    
Net Income (Loss)  $56,841   $(736)  $(4,424)  $(12,490)  $6,088   $2,214   $3,762 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-80

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Clover   Coatbridge   Collier   Collinston   Conway   Cove   Creekside 
                             
Rental income  $24,520   $24,795   $27,180   $10,396   $33,918   $4,869   $23,370 
                                    
Operating expenses:                                   
Depreciation   8,793    9,052    9,757    5,811    18,876    5,780    8,539 
Insurance   1,569    1,067    1,252    716    1,761    1,226    809 
Management fees, related party   3,989    1,747    5,443    969    6,123    1,109    2,899 
Management Fees   1,792    1,789    934    549    1,023    (42)   883 
Repairs & maintenance   5,915    1,514    668    9,291    2,069    17,289    325 
Property taxes   3,695    10,392    870    4,368    3,936    2,917    2,950 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   4,491    3,464    2,453    6,304    6,042    7,073    1,724 
Total operating expenses   30,245    29,025    21,378    28,007    39,829    35,352    18,127 
                                    
Income (loss) from operations   (5,725)   (4,230)   5,802    (17,611)   (5,911)   (30,483)   5,243 
                                    
Other income (expense)                                   
Interest expenses   -    8,269    -    5,428    32    79    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    8,269    -    5,428    32    79    - 
                                    
Net Income (Loss)  $(5,725)  $(12,499)  $5,802   $(23,040)  $(5,943)  $(30,562)  $5,243 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-81

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Creekwood   Cumberland   Cupcake   Cypress   Daisy   Davidson   Dawson 
                             
Rental income  $23,740   $16,442   $19,298   $30,032   $20,520   $16,835   $21,370 
                                    
Operating expenses:                                   
Depreciation   7,944    8,118    6,550    10,025    8,276    5,818    7,235 
Insurance   943    1,138    846    1,024    922    887    1,195 
Management fees, related party   2,181    2,385    1,623    2,644    2,614    1,248    1,292 
Management Fees   1,455    852    1,073    1,949    1,365    1,024    1,517 
Repairs & maintenance   1,609    1,190    609    3,031    5,252    4,753    3,251 
Property taxes   4,027    2,252    3,462    8,327    1,647    3,875    7,807 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,852    4,448    1,888    2,544    1,708    4,066    2,469 
Total operating expenses   20,011    20,383    16,052    29,543    21,784    21,672    24,766 
                                    
Income (loss) from operations   3,729    (3,942)   3,246    489    (1,264)   (4,837)   (3,396)
                                    
Other income (expense)                                   
Interest expenses   9,863    -    5,998    12,358    -    5,798    6,903 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   9,863    -    5,998    12,358    -    5,798    6,903 
                                    
Net Income (Loss)  $(6,134)  $(3,942)  $(2,751)  $(11,869)  $(1,264)  $(10,635)  $(10,298)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-82

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Delta   Dewberry   Diablo   Dogwood   Dolittle   Dolly   Dops 
                             
Rental income  $12,740   $17,457   $23,040   $17,644   $28,935   $34,755   $17,642 
                                    
Operating expenses:                                   
Depreciation   10,492    5,225    7,141    6,623    8,443    18,951    5,617 
Insurance   1,131    894    1,652    950    1,159    1,800    1,866 
Management fees, related party   1,609    1,121    2,449    2,569    1,830    6,150    1,529 
Management Fees   865    1,200    1,306    1,649    1,824    1,147    1,112 
Repairs & maintenance   10,194    7,854    4,194    4,739    4,575    3,040    2,866 
Property taxes   7,800    7,541    3,407    1,303    10,572    3,534    1,425 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   15,985    4,396    2,237    3,907    3,513    4,557    2,743 
Total operating expenses   48,077    28,231    22,387    21,741    31,916    39,178    17,159 
                                    
Income (loss) from operations   (35,336)   (10,774)   653    (4,096)   (2,981)   (4,424)   483 
                                    
Other income (expense)                                   
Interest expenses   9,129    5,722    8,210    -    8,138    -    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   9,129    5,722    8,210    -    8,138    -    - 
                                    
Net Income (Loss)  $(44,466)  $(16,496)  $(7,557)  $(4,096)  $(11,119)  $(4,424)  $483 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-83

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Dorchester   Dunbar   Eagle   Eastfair   Eastwood   Elevation   Ella 
                             
Rental income  $22,609   $20,065   $25,239   $23,413   $14,270   $15,552   $20,899 
                                    
Operating expenses:                                   
Depreciation   9,454    11,622    7,891    5,912    8,757    10,113    7,174 
Insurance   3,138    1,296    1,026    1,170    1,614    1,377    869 
Management fees, related party   4,991    4,569    2,381    922    2,281    1,388    2,462 
Management Fees   840    1,481    1,258    1,811    1,224    1,114    973 
Repairs & maintenance   -    6,691    -    1,083    4,143    11,158    1,471 
Property taxes   9,730    1,627    3,303    10,552    742    5,164    2,171 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,090    7,899    2,422    3,882    8,821    13,294    4,039 
Total operating expenses   30,243    35,184    18,281    25,333    27,582    43,608    19,159 
                                    
Income (loss) from operations   (7,635)   (15,119)   6,957    (1,920)   (13,312)   (28,056)   1,740 
                                    
Other income (expense)                                   
Interest expenses   -    111    9,059    7,057    -    8,184    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    111    9,059    7,057    -    8,184    - 
                                    
Net Income (Loss)  $(7,635)  $(15,230)  $(2,101)  $(8,977)  $(13,312)  $(36,240)  $1,740 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-84

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Ellen   Elm   Emporia   Ensenada   Falcon   Felix   Fenwick 
                             
Rental income  $25,130   $17,505   $27,695   $24,549   $25,346   $16,499   $21,038 
                                    
Operating expenses:                                   
Depreciation   6,807    4,600    9,666    13,332    7,907    8,201    8,240 
Insurance   1,101    942    1,856    2,612    1,028    726    1,314 
Management fees, related party   2,667    1,353    2,050    3,724    2,451    1,968    2,853 
Management Fees   978    869    1,980    1,263    1,328    840    1,163 
Repairs & maintenance   1,126    493    499    6,462    1,122    -    5,186 
Property taxes   1,688    4,728    7,139    11,799    3,419    1,032    3,057 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   606    1,964    3,176    3,642    4,102    2,455    4,733 
Total operating expenses   14,973    14,948    26,366    42,835    21,357    15,222    26,546 
                                    
Income (loss) from operations   10,157    2,557    1,329    (18,286)   3,989    1,278    (5,508)
                                    
Other income (expense)                                   
Interest expenses   -    5,046    9,623    15,342    9,059    -    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    5,046    9,623    15,342    9,059    -    - 
                                    
Net Income (Loss)  $10,157   $(2,489)  $(8,294)  $(33,627)  $(5,070)  $1,278   $(5,508)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-85

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Fletcher   Folly   Forest   Foster   Franklin   Gardens   General 
                             
Rental income  $17,040   $27,060   $27,802   $28,188   $25,740   $18,790   $32,350 
                                    
Operating expenses:                                   
Depreciation   4,824    10,253    12,141    8,614    9,246    7,172    8,684 
Insurance   949    2,124    4,629    1,086    1,480    930    1,268 
Management fees, related party   1,579    4,954    2,036    3,294    3,019    1,724    3,638 
Management Fees   852    974    1,820    1,020    1,191    943    974 
Repairs & maintenance   108    874    1,195    1,802    3,385    385    1,341 
Property taxes   (737)   7,412    5,981    4,841    6,536    1,859    6,487 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,761    2,695    6,784    1,390    1,253    3,965    2,191 
Total operating expenses   9,336    29,287    34,587    22,047    26,109    16,978    24,583 
                                    
Income (loss) from operations   7,704    (2,227)   (6,784)   6,141    (369)   1,813    7,767 
                                    
Other income (expense)                                   
Interest expenses   -    18    10,767    -    -    6,573    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    18    10,767    -    -    6,573    - 
                                    
Net Income (Loss)  $7,704   $(2,244)  $(17,551)  $6,141   $(369)  $(4,760)  $7,767 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-86

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Goose   Grant   Greenhill   Gretal   Grove   Hadden   Hansard 
                             
Rental income  $25,207   $29,894   $33,450   $28,740   $18,515   $20,254   $26,780 
                                    
Operating expenses:                                   
Depreciation   7,356    8,902    8,969    12,411    8,803    6,053    8,339 
Insurance   964    1,594    1,842    1,358    1,355    691    1,809 
Management fees, related party   2,357    2,185    1,680    4,159    1,230    1,313    3,119 
Management Fees   1,261    1,838    2,401    893    1,302    1,417    870 
Repairs & maintenance   867    -    33    143    3,763    1,244    - 
Property taxes   2,672    5,902    12,045    1,985    6,386    9,755    1,700 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   3,196    2,982    3,051    2,726    1,855    1,695    2,857 
Total operating expenses   18,672    23,403    30,020    23,675    24,693    22,167    18,695 
                                    
Income (loss) from operations   6,535    6,492    3,430    5,065    (6,178)   (1,913)   8,085 
                                    
Other income (expense)                                   
Interest expenses   8,440    10,126    8,909    -    7,576    5,622    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   8,440    10,126    8,909    -    7,576    5,622    - 
                                    
Net Income (Loss)  $(1,905)  $(3,634)  $(5,479)  $5,065   $(13,754)  $(7,535)  $8,085 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-87

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Hansel   Hargrave   Harrison   Henry   Heritage   Heron   Highland 
                             
Rental income  $18,355   $11,388   $33,840   $20,243   $24,093   $23,770   $23,309 
                                    
Operating expenses:                                   
Depreciation   11,127    6,423    12,591    11,823    9,012    8,948    7,884 
Insurance   1,193    758    1,518    1,905    1,194    2,810    1,181 
Management fees, related party   3,262    1,606    4,627    2,968    1,870    1,774    1,839 
Management Fees   869    1,007    870    1,123    1,568    1,676    1,664 
Repairs & maintenance   1,740    3,067    175    15,773    972    327    1,079 
Property taxes   2,135    3,355    3,833    6,104    7,064    11,489    4,467 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   5,050    6,900    3,007    6,329    2,797    1,983    1,920 
Total operating expenses   25,377    23,116    26,622    46,025    24,477    29,008    20,033 
                                    
Income (loss) from operations   (7,022)   (11,728)   7,218    (25,782)   (384)   (5,238)   3,276 
                                    
Other income (expense)                                   
Interest expenses   13,586    -    15,639    340    9,770    9,636    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   13,586    -    15,639    340    9,770    9,636    - 
                                    
Net Income (Loss)  $(20,608)  $(11,728)  $(8,420)  $(26,122)  $(10,155)  $(14,874)  $3,276 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-88

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Hines   Hobbes   Holcomb   Holland   Hollandaise   Holloway   Inglewood 
                             
Rental income  $14,838   $13,770   $25,740   $17,660   $15,233   $31,140   $35,427 
                                    
Operating expenses:                                   
Depreciation   8,810    6,432    9,754    5,818    10,056    9,344    18,721 
Insurance   734    758    1,295    887    1,561    2,419    1,858 
Management fees, related party   3,453    1,867    4,482    1,084    2,375    1,738    6,138 
Management Fees   1,040    1,215    1,672    1,362    1,623    2,232    995 
Repairs & maintenance   3,275    5,851    127    989    8,231    785    2,085 
Property taxes   2,015    2,838    6,393    3,937    3,306    9,835    4,058 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   4,317    3,492    2,664    2,000    5,221    2,231    4,543 
Total operating expenses   23,644    22,452    26,387    16,077    32,374    28,583    38,397 
                                    
Income (loss) from operations   (8,806)   (8,682)   (647)   1,583    (17,141)   2,557    (2,970)
                                    
Other income (expense)                                   
Interest expenses   -    -    -    5,758    10,025    10,347    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    -    -    5,758    10,025    10,347    - 
                                    
Net Income (Loss)  $(8,806)  $(8,682)  $(647)  $(4,175)  $(27,167)  $(7,790)  $(2,970)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-89

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Irene   Jack   Jake   Jefferson   Jill   Johnny   June 
                             
Rental income  $16,740   $17,782   $34,601   $25,740   $26,260   $30,053   $20,871 
                                    
Operating expenses:                                   
Depreciation   4,824    12,754    16,186    7,555    10,983    16,094    16,094 
Insurance   951    1,292    2,176    1,181    1,196    1,646    1,646 
Management fees, related party   1,555    3,040    8,831    2,862    3,677    8,313    7,859 
Management Fees   840    1,085    1,818    870    888    856    700 
Repairs & maintenance   -    3,670    10,272    -    75    709    794 
Property taxes   (787)   1,697    7,518    383    2,109    3,230    3,230 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,336    4,216    4,131    2,609    2,944    4,301    4,491 
Total operating expenses   8,719    27,754    50,933    15,460    21,870    35,149    34,813 
                                    
Income (loss) from operations   8,021    (9,973)   (16,333)   10,280    4,390    (5,096)   (13,943)
                                    
Other income (expense)                                   
Interest expenses   -    12,795    40    -    13,696    52    25 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    12,795    40    -    13,696    52    25 
                                    
Net Income (Loss)  $8,021   $(22,768)  $(16,373)  $10,280   $(9,306)  $(5,148)  $(13,968)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-90

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Jupiter   Kawana   Kennesaw   Kenny   KerriAnn   Kessler   Kingsley 
                             
Rental income  $16,014   $20,670   $28,915   $18,943   $19,605   $14,790   $27,040 
                                    
Operating expenses:                                   
Depreciation   5,811    7,572    11,673    18,951    9,371    8,212    8,580 
Insurance   878    1,617    1,692    1,849    1,348    639    1,856 
Management fees, related party   1,406    1,672    5,269    5,165    1,649    2,095    1,658 
Management Fees   929    1,479    1,926    809    1,383    1,222    1,774 
Repairs & maintenance   890    229    5,219    1,558    11,178    4,142    187 
Property taxes   2,313    3,097    4,817    3,862    4,017    3,032    13,714 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   4,345    1,844    3,574    5,112    5,306    3,193    2,106 
Total operating expenses   16,572    17,509    34,170    37,306    34,252    22,536    29,876 
                                    
Income (loss) from operations   (559)   3,161    (5,254)   (18,363)   (14,648)   (7,746)   (2,836)
                                    
Other income (expense)                                   
Interest expenses   6,542    7,532    -    -    9,374    8,734    10,082 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   6,542    7,532    -    -    9,374    8,734    10,082 
                                    
Net Income (Loss)  $(7,101)  $(4,371)  $(5,254)  $(18,363)  $(24,022)  $(16,481)  $(12,919)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-91

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Kirkwood   Korin   Lallie   Lanier   Lannister   Latte   Lennox 
                             
Rental income  $19,740   $24,290   $26,748   $29,373   $12,156   $22,870   $21,130 
                                    
Operating expenses:                                   
Depreciation   7,538    7,646    12,405    11,412    6,054    10,022    5,956 
Insurance   754    930    3,045    1,582    772    2,369    858 
Management fees, related party   2,120    2,776    2,117    2,234    1,095    4,287    1,409 
Management Fees   1,566    872    1,720    1,796    911    1,717    1,341 
Repairs & maintenance   190    -    1,412    6,270    7,290    474    5,059 
Property taxes   2,879    3,489    12,344    6,502    1,771    5,240    7,416 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,941    1,868    4,117    4,108    3,585    4,344    1,648 
Total operating expenses   16,987    17,581    37,160    33,904    21,477    28,453    23,686 
                                    
Income (loss) from operations   2,753    6,709    (10,412)   (4,531)   (9,322)   (5,583)   (2,556)
                                    
Other income (expense)                                   
Interest expenses   8,742    -    11,383    12,658    7,227    -    6,561 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   8,742    -    11,383    12,658    7,227    -    6,561 
                                    
Net Income (Loss)  $(5,989)  $6,709   $(21,796)  $(17,189)  $(16,549)  $(5,583)  $(9,117)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-92

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Lierly   Lily   Limestone   Litton   Longwoods   Lookout   Loretta 
                             
Rental income  $21,103   $28,170   $19,589   $21,834   $23,940   $23,491   $39,258 
                                    
Operating expenses:                                   
Depreciation   5,864    14,986    8,046    8,826    7,404    9,483    18,861 
Insurance   1,137    4,046    1,794    1,515    5,085    1,293    1,804 
Management fees, related party   1,512    3,851    1,630    2,967    2,695    5,101    6,481 
Management Fees   1,165    998    1,322    1,288    981    779    954 
Repairs & maintenance   1,924    824    6,083    4,024    1,151    94    1,855 
Property taxes   2,787    3,866    10,754    939    5,295    1,309    3,936 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,750    1,835    7,279    2,888    2,323    3,340    1,974 
Total operating expenses   16,138    30,405    36,906    22,447    24,934    21,399    35,864 
                                    
Income (loss) from operations   4,965    (2,235)   (17,318)   (613)   (994)   2,091    3,393 
                                    
Other income (expense)                                   
Interest expenses   5,524    12,347    8,000    11,112    -    -    - 
Other Income   -    -    -    -    -    -    5,000 
Total Other income (expense)   5,524    12,347    8,000    11,112    -    -    5,000 
                                    
Net Income (Loss)  $(559)  $(14,582)  $(25,317)  $(11,725)  $(994)  $2,091   $(1,607)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-93

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Louis   Louise   Lovejoy   Luna   Lurleen   Madison   Mae 
                             
Rental income  $22,740   $24,085   $23,790   $18,863   $20,390   $19,649   $25,313 
                                    
Operating expenses:                                   
Depreciation   7,401    7,578    8,089    5,912    6,190    5,655    9,728 
Insurance   715    1,092    1,076    1,095    1,827    1,042    2,049 
Management fees, related party   2,601    1,441    1,824    1,209    1,494    1,627    2,335 
Management Fees   889    1,809    1,605    1,207    1,458    1,412    1,812 
Repairs & maintenance   340    4,958    1,033    1,017    1,360    700    (324)
Property taxes   2,935    2,998    5,061    7,350    2,514    2,967    7,707 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,407    4,253    2,128    4,078    1,631    2,628    2,612 
Total operating expenses   16,288    24,129    20,814    21,868    16,472    16,031    25,919 
                                    
Income (loss) from operations   6,452    (44)   2,976    (3,005)   3,918    3,618    (606)
                                    
Other income (expense)                                   
Interest expenses   -    8,033    8,057    7,061    8,900    6,286    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    8,033    8,057    7,061    8,900    6,286    - 
                                    
Net Income (Loss)  $6,452   $(8,078)  $(5,082)  $(10,065)  $(4,982)  $(2,668)  $(606)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-94

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Magnolia   Malbec   Mammoth   Marcelo   Marie   Marietta   Marion 
                             
Rental income  $17,189   $33,287   $16,326   $20,640   $29,940   $24,151   $22,140 
                                    
Operating expenses:                                   
Depreciation   8,308    8,776    9,371    7,822    8,794    8,316    9,039 
Insurance   997    1,388    1,448    867    1,566    1,313    2,574 
Management fees, related party   1,528    2,658    2,274    2,521    3,944    1,897    2,461 
Management Fees   1,201    1,483    520    920    866    1,860    1,721 
Repairs & maintenance   5,231    429    13,286    725    55    1,368    2,959 
Property taxes   4,790    4,635    8,383    2,976    (1,268)   13,661    2,954 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,940    3,771    6,663    1,561    2,683    5,295    2,094 
Total operating expenses   24,995    23,139    41,946    17,393    16,640    33,710    23,803 
                                    
Income (loss) from operations   (7,806)   10,148    (25,619)   3,247    13,300    (9,560)   (1,663)
                                    
Other income (expense)                                   
Interest expenses   10,050    9,781    11,509    -    -    10,413    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   10,050    9,781    11,509    -    -    10,413    - 
                                    
Net Income (Loss)  $(17,856)  $367   $(37,129)  $3,247   $13,300   $(19,973)  $(1,663)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-95

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Marple   Martell   Mary   Matchingham   McGregor   McLovin   Meadow 
                             
Rental income  $8,370   $20,163   $25,140   $25,748   $21,978   $37,440   $21,668 
                                    
Operating expenses:                                   
Depreciation   4,824    7,144    7,465    5,825    8,264    12,438    8,820 
Insurance   730    2,799    985    934    1,460    2,114    1,240 
Management fees, related party   1,096    2,403    2,799    1,254    5,261    4,355    1,945 
Management Fees   975    1,364    851    1,758    940    959    1,379 
Repairs & maintenance   3,448    5,666    -    936    1,252    520    4,058 
Property taxes   (1,024)   3,173    822    9,883    2,323    8,977    3,867 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   5,261    3,365    2,536    1,673    2,262    2,211    2,280 
Total operating expenses   15,309    25,915    15,458    22,263    21,763    31,575    23,589 
                                    
Income (loss) from operations   (6,939)   (5,751)   9,682    3,485    215    5,865    (1,921)
                                    
Other income (expense)                                   
Interest expenses   -    -    -    5,733    -    14,380    8,406 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    -    -    5,733    -    14,380    8,406 
                                    
Net Income (Loss)  $(6,939)  $(5,751)  $9,682   $(2,249)  $215   $(8,515)  $(10,327)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-96

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Mimosa   Mojave   Murphy   Mycroft   Nugget   Odessa   Olive 
                             
Rental income  $16,265   $18,771   $21,570   $17,040   $34,670   $35,340   $22,925 
                                    
Operating expenses:                                   
Depreciation   5,908    7,049    8,171    4,933    15,387    14,664    7,377 
Insurance   1,101    858    1,172    1,022    1,845    1,564    1,397 
Management fees, related party   1,795    1,526    1,538    1,603    8,325    4,191    1,632 
Management Fees   796    1,135    1,493    840    992    938    1,575 
Repairs & maintenance   5,000    -    955    -    -    85    - 
Property taxes   1,150    3,459    10,237    (951)   7,008    7,234    9,138 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   3,167    1,822    4,389    2,431    3,079    2,940    2,154 
Total operating expenses   18,917    15,849    27,954    9,878    36,635    31,616    23,275 
                                    
Income (loss) from operations   (2,652)   2,923    (6,384)   7,162    (1,965)   3,724    (350)
                                    
Other income (expense)                                   
Interest expenses   8,252    6,480    8,107    -    -    14,726    5,951 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   8,252    6,480    8,107    -    -    14,726    5,951 
                                    
Net Income (Loss)  $(10,904)  $(3,557)  $(14,490)  $7,162   $(1,965)  $(11,002)  $(6,300)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-97

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Oly   Onyx   Oscar   Osceola   Osprey   Otoro   Palmer 
                             
Rental income  $31,751   $28,080   $16,412   $20,340   $23,449   $18,411   $20,782 
                                    
Operating expenses:                                   
Depreciation   12,529    12,016    8,036    7,701    10,980    12,169    9,172 
Insurance   2,192    1,301    267    4,946    2,908    1,869    1,157 
Management fees, related party   4,031    2,371    2,043    1,985    4,050    2,601    2,651 
Management Fees   917    1,825    1,048    1,322    1,872    914    948 
Repairs & maintenance   1,915    2,019    (4,275)   955    3,661    15,597    1,440 
Property taxes   6,763    3,153    1,014    5,114    9,046    8,835    3,349 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,666    2,738    4,512    1,937    4,259    8,364    3,982 
Total operating expenses   31,014    25,423    12,646    23,959    36,776    50,349    22,698 
                                    
Income (loss) from operations   737    2,657    3,767    (3,619)   (13,327)   (31,938)   (1,916)
                                    
Other income (expense)                                   
Interest expenses   14,382    -    -    19    -    10,940    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   14,382    -    -    19    -    10,940    - 
                                    
Net Income (Loss)  $(13,645)  $2,657   $3,767   $(3,638)  $(13,327)  $(42,878)  $(1,916)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-98

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Patrick   Peanut   Pearl   Pecan   Peterson   Piedmont   Pinot 
                             
Rental income  $17,768   $18,080   $32,640   $20,315   $19,140   $28,170   $31,133 
                                    
Operating expenses:                                   
Depreciation   7,036    5,929    14,997    5,725    6,208    10,544    8,859 
Insurance   951    838    1,358    1,015    1,075    1,372    1,400 
Management fees, related party   1,575    1,752    8,028    1,538    2,046    3,724    2,601 
Management Fees   1,103    828    960    1,168    840    1,013    1,460 
Repairs & maintenance   2,946    -    1,199    95    -    1,358    1,334 
Property taxes   1,981    2,258    2,944    2,234    1,380    9,241    4,625 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,935    1,794    3,007    1,917    2,369    2,061    3,810 
Total operating expenses   17,527    13,398    32,494    13,692    13,918    29,312    24,089 
                                    
Income (loss) from operations   241    4,681    146    6,623    5,222    (1,142)   7,044 
                                    
Other income (expense)                                   
Interest expenses   4,471    7,044    -    4,657    -    13,098    9,882 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   4,471    7,044    -    4,657    -    13,098    9,882 
                                    
Net Income (Loss)  $(4,230)  $(2,363)  $146   $1,966   $5,222   $(14,240)  $(2,838)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-99

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Pioneer   Plumtree   Point   Porthos   Quincy   Redondo   Regency 
                             
Rental income  $32,400   $16,343   $16,342   $27,540   $35,500   $20,902   $27,660 
                                    
Operating expenses:                                   
Depreciation   16,234    5,535    10,500    8,295    15,029    8,616    7,586 
Insurance   2,256    902    1,499    5,345    1,498    1,334    1,414 
Management fees, related party   8,450    1,302    2,378    3,175    5,370    2,862    3,023 
Management Fees   1,182    1,094    989    920    1,011    1,543    1,183 
Repairs & maintenance   4,239    150    3,088    802    1,052    7,117    2,671 
Property taxes   6,024    2,182    4,349    5,919    5,081    4,576    4,216 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   4,032    1,789    5,145    1,623    3,974    4,114    2,384 
Total operating expenses   42,417    12,954    27,948    26,080    33,014    30,163    22,477 
                                    
Income (loss) from operations   (10,017)   3,390    (11,605)   1,460    2,486    (9,261)   5,183 
                                    
Other income (expense)                                   
Interest expenses   -    6,044    12,840    -    56    12,090    11,100 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    6,044    12,840    -    56    12,090    11,100 
                                    
Net Income (Loss)  $(10,017)  $(2,655)  $(24,445)  $1,460   $2,430   $(21,351)  $(5,917)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-100

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Reginald   Reynolds   Ribbonwalk   Richardson   Richmond   Ridge   Ritter 
                             
Rental income  $25,009   $30,870   $24,419   $21,870   $27,427   $22,032   $26,613 
                                    
Operating expenses:                                   
Depreciation   13,991    11,810    8,791    8,642    10,463    5,983    13,864 
Insurance   2,528    1,761    1,381    835    1,558    916    2,708 
Management fees, related party   4,051    5,395    1,900    2,800    3,843    1,859    7,167 
Management Fees   3,481    2,002    1,444    860    1,093    956    1,335 
Repairs & maintenance   8,231    400    1,019    -    4,674    200    5,217 
Property taxes   6,275    6,290    4,087    1,906    7,554    8,417    2,815 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   5,661    2,987    9,626    2,209    6,280    1,992    3,444 
Total operating expenses   44,218    30,645    28,247    17,251    35,466    20,324    36,549 
                                    
Income (loss) from operations   (19,209)   225    (3,827)   4,619    (8,039)   1,709    (9,936)
                                    
Other income (expense)                                   
Interest expenses   84    -    8,793    -    -    6,565    47 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   84    -    8,793    -    -    6,565    47 
                                    
Net Income (Loss)  $(19,293)  $225   $(12,621)  $4,619   $(8,039)  $(4,857)  $(9,982)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-101

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   River   Riverwalk   Rooney   Roseberry   Rosewood   Roxy   Saddlebred 
                             
Rental income  $27,750   $25,990   $24,396   $31,135   $22,216   $24,660   $30,865 
                                    
Operating expenses:                                   
Depreciation   7,323    10,855    8,844    9,026    7,438    8,958    15,278 
Insurance   1,261    1,533    160    2,909    1,004    1,169    3,944 
Management fees, related party   1,241    5,951    2,676    1,897    1,794    2,569    3,614 
Management Fees   2,256    973    970    2,058    1,437    840    863 
Repairs & maintenance   1,847    2,982    -    921    33    -    230 
Property taxes   5,825    1,598    2,956    5,444    3,209    5,004    4,463 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,459    5,225    2,842    1,732    3,239    2,161    1,412 
Total operating expenses   22,212    29,116    18,449    23,986    18,154    20,702    29,803 
                                    
Income (loss) from operations   5,538    (3,126)   5,947    7,149    4,062    3,958    1,062 
                                    
Other income (expense)                                   
Interest expenses   8,035    -    10,151    9,863    9,063    10,595    13,056 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   8,035    -    10,151    9,863    9,063    10,595    13,056 
                                    
Net Income (Loss)  $(2,497)  $(3,126)  $(4,204)  $(2,715)  $(5,001)  $(6,637)  $(11,993)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-102

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Saint   Sajni   Salem   Salinas   Saturn   Scepter   Sequoyah 
                             
Rental income  $26,155   $30,240   $21,034   $20,640   $16,385   $19,266   $13,678 
                                    
Operating expenses:                                   
Depreciation   7,582    11,077    8,775    8,078    7,264    6,475    7,305 
Insurance   1,292    6,208    1,388    757    878    880    1,061 
Management fees, related party   2,732    3,379    1,799    2,191    1,307    2,089    1,952 
Management Fees   871    1,082    1,603    881    1,057    809    1,646 
Repairs & maintenance   (125)   1,529    2,969    410    4,931    483    4,357 
Property taxes   2,887    3,797    4,655    2,922    3,598    2,984    2,964 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,948    2,541    5,134    1,260    2,680    2,261    5,229 
Total operating expenses   17,186    29,614    26,322    16,500    21,716    15,981    24,513 
                                    
Income (loss) from operations   8,969    626    (5,289)   4,140    (5,331)   3,286    (10,836)
                                    
Other income (expense)                                   
Interest expenses   8,293    83    9,967    55    6,556    7,396    8,658 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   8,293    83    9,967    55    6,556    7,396    8,658 
                                    
Net Income (Loss)  $677   $543   $(15,256)  $4,085   $(11,886)  $(4,110)  $(19,493)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-103

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Shallowford   Shoreline   Sigma   Simon   Sims   Soapstone   Sodalis 
                             
Rental income  $17,401   $27,260   $28,371   $25,140   $22,140   $21,631   $22,174 
                                    
Operating expenses:                                   
Depreciation   9,917    8,520    10,479    7,953    7,498    6,745    7,959 
Insurance   1,581    1,820    1,418    1,080    977    1,218    1,490 
Management fees, related party   2,934    1,737    2,060    2,905    2,569    1,534    2,674 
Management Fees   746    1,693    1,850    880    1,153    2,403    989 
Repairs & maintenance   1,001    1,455    2,051    -    2,532    883    1,269 
Property taxes   5,079    7,695    4,789    778    3,196    2,919    5,563 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   4,583    1,303    2,600    2,172    1,858    1,772    1,344 
Total operating expenses   25,841    24,223    25,246    15,768    19,783    17,474    21,288 
                                    
Income (loss) from operations   (8,439)   3,037    3,125    9,372    2,357    4,157    885 
                                    
Other income (expense)                                   
Interest expenses   12,342    9,858    10,536    -    -    5,426    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   12,342    9,858    10,536    -    -    5,426    - 
                                    
Net Income (Loss)  $(20,782)  $(6,822)  $(7,410)  $9,372   $2,357   $(1,269)  $885 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-104

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Spencer   Splash   Spring   Stonebriar   Sugar   Summerset   Sundance 
                             
Rental income  $27,548   $19,215   $20,870   $17,010   $24,600   $23,415   $19,055 
                                    
Operating expenses:                                   
Depreciation   8,313    5,955    6,803    5,574    8,559    10,115    10,205 
Insurance   3,294    1,064    834    715    2,820    1,904    1,862 
Management fees, related party   1,883    1,484    1,674    1,345    1,676    1,398    2,784 
Management Fees   1,709    1,816    1,483    1,106    1,763    1,664    1,040 
Repairs & maintenance   533    6,814    6,669    2,192    990    4,635    2,006 
Property taxes   5,472    2,474    5,318    3,386    6,498    298    3,477 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,782    1,920    2,542    2,638    2,144    2,071    5,968 
Total operating expenses   23,986    21,527    25,323    16,957    24,449    22,085    27,341 
                                    
Income (loss) from operations   3,562    (2,312)   (4,453)   53    151    1,330    (8,286)
                                    
Other income (expense)                                   
Interest expenses   9,134    5,198    -    6,486    9,411    7,813    12,108 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   9,134    5,198    -    6,486    9,411    7,813    12,108 
                                    
Net Income (Loss)  $(5,572)  $(7,510)  $(4,453)  $(6,433)  $(9,261)  $(6,483)  $(20,394)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-105

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Sunnyside   Swift   Taylor   Terracotta   Theodore   Tulip   Tuscan 
                             
Rental income  $17,906   $21,928   $20,858   $8,380   $22,220   $26,790   $24,475 
                                    
Operating expenses:                                   
Depreciation   6,079    10,575    7,377    7,573    7,893    8,726    8,879 
Insurance   821    1,418    883    973    1,081    1,888    1,119 
Management fees, related party   1,947    4,257    1,735    1,789    2,727    1,973    2,069 
Management Fees   936    1,453    1,313    2,190    868    1,834    1,643 
Repairs & maintenance   110    6,348    7,862    17,753    575    -    - 
Property taxes   1,803    4,983    2,879    3,372    759    4,665    3,605 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   4,160    3,934    1,407    5,214    3,473    2,270    3,602 
Total operating expenses   15,855    32,967    23,457    38,863    17,376    21,356    20,917 
                                    
Income (loss) from operations   2,050    (11,039)   (2,599)   (30,483)   4,844    5,434    3,558 
                                    
Other income (expense)                                   
Interest expenses   -    -    7,878    8,758    -    10,687    7,578 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    -    7,878    8,758    -    10,687    7,578 
                                    
Net Income (Loss)  $2,050   $(11,039)  $(10,476)  $(39,241)  $4,844   $(5,253)  $(4,020)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-106

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Tuscarora   Tuxford   Vernon   Walton   Wave   Weldon   Wellington 
                             
Rental income  $29,040   $19,326   $23,178   $22,553   $14,800   $17,595   $29,280 
                                    
Operating expenses:                                   
Depreciation   9,182    7,203    7,238    8,246    9,192    5,811    12,482 
Insurance   1,303    1,326    1,112    840    1,427    887    1,690 
Management fees, related party   3,499    1,562    1,362    4,434    1,786    1,272    2,840 
Management Fees   993    1,359    1,655    1,140    831    1,167    1,933 
Repairs & maintenance   715    4,120    558    1,441    26,282    644    3,021 
Property taxes   6,080    11,705    8,552    1,902    8,872    4,291    7,346 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,113    4,542    2,286    4,070    13,574    2,008    3,453 
Total operating expenses   23,885    31,816    22,762    22,073    61,964    16,080    32,764 
                                    
Income (loss) from operations   5,155    (12,491)   416    479    (47,165)   1,515    (3,484)
                                    
Other income (expense)                                   
Interest expenses   -    7,056    7,135    79    9,016    5,349    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   -    7,056    7,135    79    9,016    5,349    - 
                                    
Net Income (Loss)  $5,155   $(19,547)  $(6,719)  $401   $(56,181)  $(3,833)  $(3,484)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-107

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Wentworth   Wescott   Westchester   Wildwood   Willow   Wilson   Winchester 
                             
Rental income  $24,207   $19,440   $27,505   $20,640   $13,681   $25,770   $21,230 
                                    
Operating expenses:                                   
Depreciation   6,833    7,530    9,374    6,063    8,041    11,722    8,418 
Insurance   832    1,107    1,575    785    887    1,388    1,393 
Management fees, related party   2,547    2,732    2,215    2,315    2,222    3,532    2,448 
Management Fees   516    1,713    1,806    840    1,481    1,126    1,166 
Repairs & maintenance   137    8,732    1,157    -    6,546    2,636    2,545 
Property taxes   3,191    1,765    15,233    3,302    927    4,025    3,891 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,831    2,992    2,619    1,926    3,673    2,376    2,795 
Total operating expenses   15,887    26,572    33,980    15,231    23,778    26,804    22,655 
                                    
Income (loss) from operations   8,320    (7,132)   (6,475)   5,409    (10,097)   (1,034)   (1,425)
                                    
Other income (expense)                                   
Interest expenses   6,249    8,347    9,335    6,148    -    -    - 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   6,249    8,347    9,335    6,148    -    -    - 
                                    
Net Income (Loss)  $2,071   $(15,479)  $(15,810)  $(740)  $(10,097)  $(1,034)  $(1,425)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-108

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Windsor   Winston   Wisteria   Arlo   Hualapai   Brentwood   Bellvue 
                             
Rental income  $21,155   $18,974   $24,578   $8,579   $5,265   $2,292   $10,690 
                                    
Operating expenses:                                   
Depreciation   9,618    9,039    9,735    1,840    1,813    1,511    3,085 
Insurance   3,217    1,190    2,027    409    417    345    714 
Management fees, related party   2,075    2,013    1,843    336    211    43    575 
Management Fees   1,189    1,479    1,429    395    210    1,379    286 
Repairs & maintenance   21,178    1,843    169    2,173    7,050    12,526    335 
Property taxes   13,935    3,325    4,136    990    972    805    1,630 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain on sale of property   -    -    -    -    -    -    - 
Other operating expenses   4,511    4,110    4,420    2,784    2,005    2,556    3,118 
Total operating expenses   55,724    22,999    23,759    8,926    12,677    19,165    9,742 
                                    
Income (loss) from operations   (34,569)   (4,025)   819    (348)   (7,412)   (16,873)   948 
                                    
Other income (expense)                                   
Interest expenses   10,711    -    9,957    7,001    7,605    6,009    12,681 
Other Income   -    -    -    -    -    -    - 
Total Other income (expense)   10,711    -    9,957    7,001    7,605    6,009    12,681 
                                    
Net Income (Loss)  $(45,280)  $(4,025)  $(9,138)  $(7,349)  $(15,017)  $(22,882)  $(11,733)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-109

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Lorenz   Lexie   Hartsfield   Consolidated 
                 
Rental income  $6,888   $8,399   $3,198   $5,559,980 
                     
Operating expenses:                    
Depreciation   1,911    2,889    2,658    2,193,651 
Insurance   386    379    371    359,517 
Management fees, related party   341    392    116    675,980 
Management Fees   249    291    364    304,439 
Repairs & maintenance   2,205    11,964    2,219    687,977 
Property taxes   1,148    1,422    1,595    1,101,741 
Credit loss expense (recovery)   -    -    -    (960)
Gain on sale of property   -    -    -    (80,846)
Other operating expenses   2,170    3,147    3,024    836,169 
Total operating expenses   8,411    20,482    10,347    6,077,667 
                     
Income (loss) from operations   (1,523)   (12,084)   (7,149)   (517,687)
                     
Other income (expense)                    
Interest expenses   9,089    9,223    13,431    1,225,452 
Other Income   -    -    -    5,000 
Total other income (expense)   9,089    9,223    13,431    1,230,452 
                     
Net Income (Loss)  $(10,612)  $(21,307)  $(20,579)  $(1,748,139)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-110

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) 

FOR THE YEAR ENDED DECEMBER 31, 2023 

 

   100   101   Abbington   Abernant   Alvin   Amber   Apollo 
                             
Rental income  $42,815   $16,094   $32,827   $-   $4,640   $22,740   $18,035 
                                    
Operating expenses:                                   
Depreciation   11,260    17,438    13,825    1,562    2,184    8,416    5,383 
Insurance   2,092    1,991    1,536    273    353    3,923    862 
Management fees, related party   9,473    8,132    7,257    -    231    1,767    1,297 
Management Fees   1,515    676    1,648    264    443    1,668    1,228 
Repairs & maintenance   5,649    22,286    947    2,227    3,032    6,215    279 
Property taxes   2,196    2,282    2,628    988    1,164    3,870    3,393 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,969    5,225    2,885    2,656    2,517    2,142    1,678 
Total operating expenses   34,154    58,029    30,726    7,968    9,924    28,000    14,118 
                                    
Income (loss) from operations   8,661    (41,935)   2,101    (7,968)   (5,284)   (5,260)   3,917 
                                    
Other income (expense)                                   
Interest expenses   -    -    -    -    -    7,857    9,714 
Total Other income (expense)   -    -    -    -    -    7,857    9,714 
                                    
Net Income (Loss)  $8,661   $(41,935)  $2,101   $(7,968)  $(5,284)  $(13,118)  $(5,797)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-111

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) 

FOR THE YEAR ENDED DECEMBER 31, 2023 

 

   Aster   Augusta   Avebury   Avondale   Badminton   Ballinger   Bandelier 
                             
Rental income  $14,135   $6,384   $22,360   $7,783   $22,620   $-   $26,340 
                                    
Operating expenses:                                   
Depreciation   7,014    4,075    7,990    4,523    7,252    -    8,183 
Insurance   1,357    626    1,985    681    1,161    90    1,298 
Management fees, related party   1,961    975    1,801    1,568    1,422    -    2,674 
Management Fees   1,047    405    2,159    785    1,938    232    937 
Repairs & maintenance   8,441    1,253    2,313    5,789    1,585    2,315    - 
Property taxes   1,286    721    711    2,476    12,264    274    1,710 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   3,149    6,040    3,042    5,255    4,677    4,599    2,496 
Total operating expenses   24,255    14,095    20,001    21,077    30,298    7,509    17,298 
                                    
Income (loss) from operations   (10,121)   (7,711)   2,359    (13,295)   (7,678)   (7,509)   9,042 
                                    
Other income (expense)                                   
Interest expenses   8,447    -    7,942    -    8,140    -    9,577 
Total Other income (expense)   8,447    -    7,942    -    8,140    -    9,577 
                                    
Net Income (Loss)  $(18,568)  $(7,711)  $(5,583)  $(13,295)  $(15,818)  $(7,509)  $(535)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-112

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) 

FOR THE YEAR ENDED DECEMBER 31, 2023 

 

   Baron   Basil   Bayside   Bazzel   Bedford   Bella   Belle 
                             
Rental income  $34,740   $15,109   $25,830   $10,920   $26,622   $-   $20,321 
                                    
Operating expenses:                                   
Depreciation   16,231    5,569    7,050    7,527    7,695    3,505    12,084 
Insurance   1,185    664    846    872    900    544    1,423 
Management fees, related party   8,400    1,076    1,566    3,064    1,599    915    3,606 
Management Fees   958    1,181    2,163    959    2,020    1,026    1,843 
Repairs & maintenance   898    4,443    2,598    4,438    750    10,309    20,494 
Property taxes   3,997    4,928    14,278    4,109    2,597    1,901    1,471 
Credit loss expense (recovery)   -    (2,385)   -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,881    3,639    4,341    4,870    2,401    4,984    5,633 
Total operating expenses   33,551    19,115    32,841    25,838    17,961    23,184    46,553 
                                    
Income (loss) from operations   1,189    (4,007)   (7,011)   (14,918)   8,661    (23,184)   (26,232)
                                    
Other income (expense)                                   
Interest expenses   -    5,306    7,746    -    7,669    -    - 
Total Other income (expense)   -    5,306    7,746    -    7,669    -    - 
                                    
Net Income (Loss)  $1,189   $(9,313)  $(14,757)  $(14,918)  $992   $(23,184)  $(26,232)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-113

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) 

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Belvedere   Bergenia   Blossom   Bonneau   Brainerd   Braxton   Brennan 
                             
Rental income  $14,382   $6,231   $15,085   $27,170   $23,141   $20,968   $4,616 
                                    
Operating expenses:                                   
Depreciation   4,051    -    6,990    10,275    7,997    8,910    6,230 
Insurance   624    564    997    1,892    979    775    880 
Management fees, related party   1,693    761    2,037    3,350    2,681    2,708    1,115 
Management Fees   885    429    918    948    992    1,103    824 
Repairs & maintenance   3,945    1,626    2,436    1,053    3,056    1,705    8,661 
Property taxes   2,099    1,484    2,596    9,806    3,221    3,416    1,409 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   5,636    5,653    2,092    4,512    3,118    2,214    1,469 
Total operating expenses   18,932    10,516    18,065    31,837    22,045    20,832    20,586 
                                    
Income (loss) from operations   (4,550)   (4,285)   (2,980)   (4,667)   1,097    136    (15,970)
                                    
Other income (expense)                                   
Interest expenses   -    -    -    -    9,415    493    8,989 
Total Other income (expense)   -    -    -    -    9,415    493    8,989 
                                    
Net Income (Loss)  $(4,550)  $(4,285)  $(2,980)  $(4,667)  $(8,318)  $(357)  $(24,959)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-114

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) 

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Briarwood   Brooklyn   Burlington   Butter   Calvin   Camino   Campbell 
                             
Rental income  $-   $10,678   $40,853   $35,404   $4,678   $18,345   $- 
                                    
Operating expenses:                                   
Depreciation   1,433    5,709    17,832    10,379    2,164    7,289    1,422 
Insurance   252    728    1,350    2,612    348    1,013    220 
Management fees, related party   -    1,160    9,799    2,058    164    1,782    - 
Management Fees   331    1,071    1,180    2,560    252    1,404    1,851 
Repairs & maintenance   3,082    12,360    2,777    -    420    -    389 
Property taxes   770    1,122    5,749    12,074    1,077    980    4,770 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    39,763 
Other operating expenses   5,033    4,295    1,950    2,289    6,002    1,945    1,906 
Total operating expenses   10,901    26,445    40,636    31,973    10,426    14,412    50,320 
                                    
Income (loss) from operations   (10,901)   (15,767)   217    3,431    (5,748)   3,933    (50,320)
                                    
Other income (expense)                                   
Interest expenses   -    5,389    -    10,260    -    -    - 
Total Other income (expense)   -    5,389    -    10,260    -    -    - 
                                    
Net Income (Loss)  $(10,901)  $(21,156)  $217   $(6,828)  $(5,748)  $3,933   $(50,320)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-115

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) 

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Cawley   Centennial   Chaparral   Chattahoochee   Chelsea   Chester   Chickamauga 
                             
Rental income  $12,731   $21,691   $19,700   $       -   $22,930   $26,592   $26,472 
                                    
Operating expenses:                                   
Depreciation   3,593    7,834    5,399    -    8,468    11,039    10,258 
Insurance   565    602    788    -    1,491    1,585    1,226 
Management fees, related party   1,540    1,335    1,430    -    1,953    3,449    3,582 
Management Fees   683    1,721    1,194    -    1,858    949    966 
Repairs & maintenance   2,630    -    1,529    -    350    494    4,834 
Property taxes   2,199    2,623    2,055    -    (946)   3,164    3,765 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   6,075    3,702    1,415    -    4,012    3,125    6,195 
Total operating expenses   17,286    17,816    13,809    -    17,185    23,803    30,827 
                                    
Income (loss) from operations   (4,555)   3,875    5,891    -    5,745    2,788    (4,355)
                                    
Other income (expense)                                   
Interest expenses   -    8,876    4,353    -    8,429    12,323    - 
Total Other income (expense)   -    8,876    4,353    -    8,429    12,323    - 
                                    
Net Income (Loss)  $(4,555)  $(5,001)  $1,538   $-   $(2,684)  $(9,534)  $(4,355)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-116

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) 

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Chinook   Chitwood   Clover   Coatbridge   Collier   Collinston   Conway 
                             
Rental income  $998   $28,895   $23,840   $17,873   $24,470   $20,121   $34,836 
                                    
Operating expenses:                                   
Depreciation   4,126    10,510    8,793    7,991    9,757    5,811    18,892 
Insurance   549    1,262    1,225    852    1,207    882    2,140 
Management fees, related party   772    4,482    4,123    1,071    5,157    1,424    6,127 
Management Fees   1,164    1,136    1,668    1,771    1,143    1,181    1,379 
Repairs & maintenance   3,270    1,769    2,918    143    2,800    7,752    6,493 
Property taxes   2,289    4,958    2,741    16,976    463    4,178    3,895 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   6,850    2,948    1,983    7,500    3,562    2,875    4,147 
Total operating expenses   19,020    27,065    23,451    36,305    24,089    24,104    43,072 
                                    
Income (loss) from operations   (18,023)   1,830    389    (18,432)   381    (3,983)   (8,236)
                                    
Other income (expense)                                   
Interest expenses   -    -    -    8,878    -    5,349    493 
Total Other income (expense)   -    -    -    8,878    -    5,349    493 
                                    
Net Income (Loss)  $(18,023)  $1,830   $389   $(27,310)  $381   $(9,331)  $(8,729)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-117

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) 

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Cove   Creekside   Creekwood   Cumberland   Cupcake   Cypress   Daisy 
                             
Rental income  $13,220   $23,265   $21,214   $20,340   $22,260   $28,627   $20,340 
                                    
Operating expenses:                                   
Depreciation   3,853    8,530    7,947    8,118    6,550    10,023    8,276 
Insurance   566    1,152    1,005    1,026    629    1,886    1,104 
Management fees, related party   995    3,443    1,895    2,487    1,365    2,865    2,529 
Management Fees   1,380    933    1,828    950    1,507    1,764    930 
Repairs & maintenance   97    577    4,909    561    447    5,685    1,984 
Property taxes   1,843    3,301    2,561    1,843    2,693    4,150    3,492 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   7,649    2,174    3,875    2,284    1,679    2,645    1,989 
Total operating expenses   16,382    20,108    24,020    17,269    14,870    29,020    20,304 
                                    
Income (loss) from operations   (3,163)   3,157    (2,806)   3,071    7,390    (393)   36 
                                    
Other income (expense)                                   
Interest expenses   -    -    9,590    -    5,839    12,091    - 
Total Other income (expense)   -    -    9,590    -    5,839    12,091    - 
                                    
Net Income (Loss)  $(3,163)  $3,157   $(12,396)  $3,071   $1,552   $(12,483)  $36 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-118

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) 

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Davidson   Dawson   Delta   Dewberry   Diablo   Dogwood   Dolittle 
                             
Rental income  $16,298   $20,712   $-   $16,195   $12,250   $18,808   $26,420 
                                    
Operating expenses:                                   
Depreciation   5,818    7,235    9,435    5,225    7,141    6,632    8,443 
Insurance   661    812    1,107    725    1,339    943    2,149 
Management fees, related party   1,016    1,347    1,455    1,009    1,866    3,045    1,629 
Management Fees   1,213    1,536    -    1,404    691    1,316    2,405 
Repairs & maintenance   5,850    1,119    534    -    734    1,692    185 
Property taxes   3,959    9,973    5,819    8,957    3,303    415    11,826 
Credit loss expense (recovery)   -    -    12,525    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   3,104    3,185    6,841    1,859    5,049    2,519    3,689 
Total operating expenses   21,621    25,205    37,717    19,179    20,124    16,561    30,326 
                                    
Income (loss) from operations   (5,323)   (4,493)   (37,717)   (2,985)   (7,873)   2,247    (3,906)
                                    
Other income (expense)                                   
Interest expenses   5,758    6,838    8,870    5,672    8,133    -    8,121 
Total Other income (expense)   5,758    6,838    8,870    5,672    8,133    -    8,121 
                                    
Net Income (Loss)  $(11,081)  $(11,331)  $(46,587)  $(8,657)  $(16,006)  $2,247   $(12,027)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-119

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) 

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Dolly   Dops   Dorchester   Dunbar   Duncan   Eagle   Eastfair 
                             
Rental income  $28,229   $13,415   $24,877   $5,941   $        -   $24,240   $13,980 
                                    
Operating expenses:                                   
Depreciation   18,952    5,149    9,454    9,550    -    8,130    5,912 
Insurance   2,227    1,734    1,904    1,101    -    1,115    865 
Management fees, related party   7,078    1,248    5,103    3,734    -    1,883    1,148 
Management Fees   829    1,049    910    2,263    -    1,676    1,039 
Repairs & maintenance   1,678    2,675    3,906    2,800    -    -    4,801 
Property taxes   2,841    547    12,149    1,282    -    1,368    6,231 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   4,707    4,463    3,920    9,601    -    1,781    5,038 
Total operating expenses   38,313    16,865    37,345    30,331    -    15,953    25,032 
                                    
Income (loss) from operations   (10,084)   (3,450)   (12,469)   (24,390)   -    8,287    (11,052)
                                    
Other income (expense)                                   
Interest expenses   -    -    -    -    -    9,059    7,012 
Total Other income (expense)   -    -    -    -    -    9,059    7,012 
                                    
Net Income (Loss)  $(10,084)  $(3,450)  $(12,469)  $(24,390)  $-   $(771)  $(18,065)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-120

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) 

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Eastwood   Elevation   Ella   Ellen   Elm   Emporia   Ensenada 
                             
Rental income  $5,432   $5,316   $16,387   $3,231   $12,674   $57,096   $39,540 
                                    
Operating expenses:                                   
Depreciation   2,189    8,013    5,978    2,269    4,600    9,751    13,332 
Insurance   354    1,312    553    369    1,250    1,583    3,527 
Management fees, related party   225    1,258    1,911    499    1,167    2,304    4,573 
Management Fees   525    638    1,225    640    1,327    4,498    940 
Repairs & maintenance   3,154    721    4,665    3,598    2,585    5,957    225 
Property taxes   1,167    7,394    1,849    1,144    7,147    7,109    6,153 
Credit loss expense (recovery)   -    847    -    -    -    35,955    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   6,787    7,600    7,943    6,724    3,662    5,904    2,593 
Total operating expenses   14,401    27,785    24,123    15,242    21,738    73,062    31,343 
                                    
Income (loss) from operations   (8,970)   (22,469)   (7,737)   (12,011)   (9,064)   (15,966)   8,197 
                                    
Other income (expense)                                   
Interest expenses   -    8,257    5,844    -    4,393    9,580    15,313 
Total Other income (expense)   -    8,257    5,844    -    4,393    9,580    15,313 
                                    
Net Income (Loss)  $(8,970)  $(30,726)  $(13,580)  $(12,011)  $(13,457)  $(25,546)  $(7,116)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-121

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Falcon   Felix   Fenwick   Fletcher   Folly   Forest   Foster 
                             
Rental income  $24,179   $9,577   $13,224   $5,480   $26,039   $12,936   $13,703 
                                    
Operating expenses:                                   
Depreciation   8,143    3,185    4,120    1,608    10,253    9,646    4,307 
Insurance   1,213    446    630    85    1,734    2,310    653 
Management fees, related party   2,098    908    1,318    88    4,803    1,632    1,616 
Management Fees   1,474    1,126    1,022    741    966    1,160    725 
Repairs & maintenance   109    2,758    5,315    3,911    9,960    357    3,045 
Property taxes   1,665    1,364    1,983    807    10,302    9,799    2,883 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,781    5,187    5,957    5,936    4,135    4,063    5,324 
Total operating expenses   16,482    14,974    20,345    13,176    42,152    28,967    18,552 
                                    
Income (loss) from operations   7,697    (5,397)   (7,121)   (7,696)   (16,113)   (16,031)   (4,850)
                                    
Other income (expense)                                   
Interest expenses   9,059    -    -    -    -    10,604    - 
Total Other income (expense)   9,059    -    -    -    -    10,604    - 
                                    
Net Income (Loss)  $(1,362)  $(5,397)  $(7,121)  $(7,696)  $(16,113)  $(26,635)  $(4,850)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-122

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Franklin   Gardens   General   Goose   Grant   Greenhill   Gretal 
                             
Rental income  $9,724   $15,167   $85   $23,700   $31,592   $27,550   $18,310 
                                    
Operating expenses:                                   
Depreciation   3,852    6,062    3,618    7,579    8,902    8,929    12,419 
Insurance   535    775    562    870    1,127    1,549    1,454 
Management fees, related party   1,028    1,413    630    1,767    1,990    1,804    3,605 
Management Fees   1,768    1,489    928    1,638    2,435    2,204    722 
Repairs & maintenance   9,383    1,941    7,841    212    1,125    -    1,416 
Property taxes   1,650    686    1,733    2,037    4,398    11,898    1,482 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   6,837    3,316    5,984    1,888    3,264    3,102    5,918 
Total operating expenses   25,053    15,683    21,296    15,991    23,242    29,486    27,016 
                                    
Income (loss) from operations   (15,329)   (516)   (21,211)   7,709    8,350    (1,936)   (8,705)
                                    
Other income (expense)                                   
Interest expenses   -    6,543    -    8,440    10,126    8,909    - 
Total Other income (expense)   -    6,543    -    8,440    10,126    8,909    - 
                                    
Net Income (Loss)  $(15,329)  $(7,059)  $(21,211)  $(730)  $(1,776)  $(10,844)  $(8,705)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-123

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Grove   Hadden   Hansard   Hansel   Hargrave   Harrison   Henry 
                             
Rental income  $19,194   $20,215   $23,493   $20,882   $-   $35,724   $23,263 
                                    
Operating expenses:                                   
Depreciation   8,803    6,007    7,644    11,127    2,141    12,574    11,823 
Insurance   886    714    1,037    1,446    344    1,326    1,412 
Management fees, related party   1,290    1,377    2,624    3,395    -    4,778    4,254 
Management Fees   1,316    1,549    1,178    789    53    1,001    2,506 
Repairs & maintenance   1,500    235    3,983    959    529    1,158    17,515 
Property taxes   1,720    778    3,331    2,462    1,066    2,848    1,617 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,718    1,622    4,145    4,731    1,793    4,253    6,438 
Total operating expenses   17,232    12,283    23,942    24,910    5,926    27,938    45,565 
                                    
Income (loss) from operations   1,962    7,932    (449)   (4,027)   (5,926)   7,786    (22,302)
                                    
Other income (expense)                                   
Interest expenses   7,546    5,622    -    13,542    -    15,237    - 
Total Other income (expense)   7,546    5,622    -    13,542    -    15,237    - 
                                    
Net Income (Loss)  $(5,583)  $2,311   $(449)  $(17,569)  $(5,926)  $(7,452)  $(22,302)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-124

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Heritage   Heron   Highland   Hines   Hobbes   Holcomb   Holland 
                             
Rental income  $23,805   $24,024   $22,108   $19,465   $-   $23,327   $17,222 
                                    
Operating expenses:                                   
Depreciation   9,012    8,948    7,884    7,915    2,144    9,757    5,818 
Insurance   920    1,833    965    879    344    675    701 
Management fees, related party   2,095    1,852    1,891    3,613    -    4,579    1,218 
Management Fees   1,321    1,668    1,668    1,699    49    1,383    1,367 
Repairs & maintenance   1,950    850    500    855    489    2,773    4,295 
Property taxes   4,344    2,436    1,895    1,137    1,066    571    4,069 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,412    1,802    2,716    2,553    4,656    2,605    2,015 
Total operating expenses   22,054    19,387    17,518    18,651    8,747    22,342    19,483 
                                    
Income (loss) from operations   1,750    4,637    4,590    814    (8,747)   985    (2,261)
                                    
Other income (expense)                                   
Interest expenses   9,718    12,004    -    -    -    -    5,758 
Total Other income (expense)   9,718    12,004    -    -    -    -    5,758 
                                    
Net Income (Loss)  $(7,968)  $(7,367)  $4,590   $814   $(8,747)  $985   $(8,019)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-125

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Hollandaise   Holloway   Inglewood   Irene   Jack   Jake   Jefferson 
                             
Rental income  $27,461   $29,950   $35,730   $4,418   $30,590   $20,109   $17,875 
                                    
Operating expenses:                                   
Depreciation   10,056    9,344    18,738    1,608    12,754    16,186    6,925 
Insurance   1,627    1,055    1,494    264    2,150    2,251    953 
Management fees, related party   3,003    1,846    6,092    73    3,714    7,742    2,169 
Management Fees   851    2,220    980    634    1,075    1,104    948 
Repairs & maintenance   -    1,519    1,338    3,541    8,032    3,366    3,001 
Property taxes   4,034    12,694    3,169    807    4,536    7,754    3,080 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   3,050    3,482    4,570    6,058    3,608    4,126    3,407 
Total operating expenses   22,622    32,160    36,381    12,985    35,869    42,528    20,484 
                                    
Income (loss) from operations   4,839    (2,210)   (651)   (8,568)   (5,279)   (22,420)   (2,609)
                                    
Other income (expense)                                   
Interest expenses   9,298    10,320    493    -    12,769    -    - 
Total Other income (expense)   9,298    10,320    493    -    12,769    -    - 
                                    
Net Income (Loss)  $(4,459)  $(12,530)  $(1,144)  $(8,568)  $(18,048)  $(22,420)  $(2,609)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-126

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Jill   Johnny   June   Jupiter   Kawana   Kennesaw   Kenny 
                             
Rental income  $24,730   $38,994   $39,865   $18,345   $20,668   $29,914   $33,845 
                                    
Operating expenses:                                   
Depreciation   10,952    16,096    16,096    5,811    7,572    11,673    18,952 
Insurance   1,211    1,893    1,875    1,325    983    1,380    2,036 
Management fees, related party   3,484    8,888    8,958    1,297    1,633    5,628    7,388 
Management Fees   954    968    910    1,511    1,627    1,647    887 
Repairs & maintenance   504    400    -    75    -    3,750    784 
Property taxes   2,725    2,667    2,667    3,922    1,144    1,461    3,333 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,770    2,750    2,878    2,025    1,782    2,406    3,967 
Total operating expenses   22,600    33,663    33,384    15,965    14,741    27,946    37,347 
                                    
Income (loss) from operations   2,131    5,331    6,481    2,380    5,927    1,968    (3,501)
                                    
Other income (expense)                                   
Interest expenses   13,337    15,288    15,288    6,523    7,532    -    - 
Total Other income (expense)   13,337    15,288    15,288    6,523    7,532    -    - 
                                    
Net Income (Loss)  $(11,207)  $(9,958)  $(8,807)  $(4,143)  $(1,605)  $1,968   $(3,501)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-127

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   KerriAnn   Kessler   Kingsley   Kirkwood   Korin   Lallie   Lanier 
                             
Rental income  $25,898   $19,140   $28,348   $19,140   $22,074   $14,750   $27,392 
                                    
Operating expenses:                                   
Depreciation   9,371    8,217    8,580    7,184    7,646    10,774    10,644 
Insurance   1,041    810    993    824    1,025    1,931    1,159 
Management fees, related party   1,767    2,163    1,692    2,002    2,320    2,102    2,048 
Management Fees   1,819    953    2,295    910    883    1,176    2,020 
Repairs & maintenance   2,883    1,921    523    -    3,601    3,490    4,575 
Property taxes   5,002    1,257    17,450    1,904    3,009    20,421    5,214 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   3,500    2,345    2,881    3,158    4,093    4,297    2,020 
Total operating expenses   25,383    17,666    34,415    15,982    22,577    44,192    27,679 
                                    
Income (loss) from operations   515    1,474    (6,068)   3,158    (503)   (29,442)   (287)
                                    
Other income (expense)                                   
Interest expenses   9,310    10,641    10,040    8,716    -    11,228    12,626 
Total Other income (expense)   9,310    10,641    10,040    8,716    -    11,228    12,626 
                                    
Net Income (Loss)  $(8,795)  $(9,168)  $(16,108)  $(5,558)  $(503)  $(40,670)  $(12,913)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-128

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Lannister   Latte   Lennox   Lierly   Lily   Limestone   Litton 
                             
Rental income  $16,919   $26,780   $19,930   $21,540   $29,780   $11,667   $24,398 
                                    
Operating expenses:                                   
Depreciation   6,054    10,022    5,956    5,864    14,986    8,046    8,826 
Insurance   89    1,335    625    881    1,910    955    1,083 
Management fees, related party   1,342    4,447    1,331    1,089    3,980    1,605    2,962 
Management Fees   1,201    2,126    1,626    1,580    941    984    955 
Repairs & maintenance   2,500    -    1,052    1,636    667    -    1,601 
Property taxes   2,045    5,569    11,843    803    3,213    11,976    931 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,718    2,169    3,544    1,568    2,042    4,658    4,654 
Total operating expenses   14,949    25,668    25,978    13,420    27,738    28,224    21,013 
                                    
Income (loss) from operations   1,970    1,112    (6,048)   8,120    2,042    (16,557)   3,386 
                                    
Other income (expense)                                   
Interest expenses   7,176    -    6,535    5,407    12,174    8,504    10,385 
Total Other income (expense)   7,176    -    6,535    5,407    12,174    8,504    10,385 
                                    
Net Income (Loss)  $(5,207)  $1,112   $(12,583)  $2,712   $(10,132)  $(25,061)  $(6,999)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-129

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Longwoods   Lookout   Loretta   Louis   Louise   Lovejoy   Luna 
                             
Rental income  $10,004   $25,122   $36,978   $10,549   $21,376   $19,572   $18,097 
                                    
Operating expenses:                                   
Depreciation   3,702    9,483    18,876    3,701    7,578    8,140    5,912 
Insurance   1,063    1,105    2,140    568    978    916    701 
Management fees, related party   1,330    5,092    6,228    1,100    1,634    1,685    1,187 
Management Fees   692    1,047    1,187    572    1,860    1,544    1,434 
Repairs & maintenance   3,259    1,282    3,954    1,712    -    5,565    4,260 
Property taxes   3,277    1,110    4,487    1,976    3,107    6,351    9,714 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   6,562    3,621    4,583    6,317    1,875    4,102    5,424 
Total operating expenses   19,885    22,740    41,454    15,945    17,032    28,303    28,632 
                                    
Income (loss) from operations   (9,881)   2,382    (4,476)   (5,396)   4,344    (8,731)   (10,535)
                                    
Other income (expense)                                   
Interest expenses   -    -    -    -    8,033    6,866    7,013 
Total Other income (expense)   -    -    -    -    8,033    6,866    7,013 
                                    
Net Income (Loss)  $(9,881)  $2,382   $(4,476)  $(5,396)  $(3,689)  $(15,596)  $(17,548)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-130

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Lurleen   Madison   Mae   Magnolia   Malbec   Mammoth   Marcelo 
                             
Rental income  $18,698   $10,643   $23,640   $21,285   $20,485   $18,955   $18,360 
                                    
Operating expenses:                                   
Depreciation   9,329    5,655    9,728    8,308    8,776    9,371    7,822 
Insurance   804    734    1,219    1,038    1,473    1,057    1,176 
Management fees, related party   1,553    1,619    2,313    1,896    1,379    2,177    2,269 
Management Fees   1,288    838    1,844    1,161    1,732    1,917    1,106 
Repairs & maintenance   7,035    6,099    (128)   120    601    7,315    1,783 
Property taxes   1,141    2,486    5,162    4,841    5,680    8,423    2,749 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   4,795    3,219    2,332    (89)   3,836    5,123    3,255 
Total operating expenses   25,945    20,650    22,470    17,274    23,476    35,383    20,161 
                                    
Income (loss) from operations   (7,248)   (10,006)   1,170    4,011    (2,991)   (16,428)   (1,801)
                                    
Other income (expense)                                   
Interest expenses   8,279    7,160    -    9,985    9,781    11,389    - 
Total Other income (expense)   8,279    7,160    -    9,985    9,781    11,389    - 
                                    
Net Income (Loss)  $(15,526)  $(17,166)  $1,170   $(5,975)  $(12,772)  $(27,818)  $(1,801)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-131

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Marie   Marietta   Marion   Marple   Martell   Mary   Matchingham 
                             
Rental income  $24,515   $22,045   $4,798   $7,115   $2,424   $9,916   $24,416 
                                    
Operating expenses:                                   
Depreciation   8,062    8,289    3,963    2,412    3,572    3,732    5,825 
Insurance   1,088    944    536    444    1,125    550    696 
Management fees, related party   2,306    1,993    811    765    910    1,122    1,289 
Management Fees   1,093    1,764    1,185    780    786    610    1,873 
Repairs & maintenance   3,137    13,314    4,253    3,329    4,678    2,412    - 
Property taxes   3,504    (530)   1,521    1,129    1,697    1,741    12,954 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   4,992    2,561    7,178    6,877    9,262    6,740    3,136 
Total operating expenses   24,181    28,335    19,447    15,738    22,031    16,906    25,774 
                                    
Income (loss) from operations   334    (6,290)   (14,649)   (8,623)   (19,607)   (6,990)   (1,357)
                                    
Other income (expense)                                   
Interest expenses   -    10,077    -    -    -    -    5,733 
Total Other income (expense)   -    10,077    -    -    -    -    5,733 
                                    
Net Income (Loss)  $334   $(16,367)  $(14,649)  $(8,623)  $(19,607)  $(6,990)  $(7,090)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-132

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   McGregor   McLovin   Meadow   Mimosa   Mojave   Murphy   Mycroft 
                             
Rental income  $22,740   $36,590   $20,490   $19,123   $20,325   $27,540   $8,378 
                                    
Operating expenses:                                   
Depreciation   8,264    12,438    8,820    5,910    7,049    8,171    2,466 
Insurance   1,049    2,496    2,666    873    636    1,808    452 
Management fees, related party   3,641    4,217    1,729    1,483    1,419    1,673    880 
Management Fees   968    1,036    1,874    1,854    1,367    2,020    746 
Repairs & maintenance   1,075    1,143    285    2,928    387    -    3,333 
Property taxes   1,546    11,309    4,181    83    2,968    11,732    1,155 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,586    2,001    2,574    1,769    1,868    2,428    5,736 
Total operating expenses   19,130    34,639    22,128    14,900    15,694    27,831    14,768 
                                    
Income (loss) from operations   3,610    1,951    (1,639)   4,223    4,631    (291)   (6,390)
                                    
Other income (expense)                                   
Interest expenses   -    14,358    8,406    7,793    6,971    8,109    - 
Total Other income (expense)   -    14,358    8,406    7,793    6,971    8,109    - 
                                    
Net Income (Loss)  $3,610   $(12,407)  $(10,045)  $(3,570)  $(2,340)  $(8,400)  $(6,390)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-133

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Nugget   Odessa   Olive   Oly   Onyx   Oscar   Osceola 
                             
Rental income  $34,190   $20,461   $21,640   $30,970   $12,026   $-   $3,445 
                                    
Operating expenses:                                   
Depreciation   15,387    14,664    7,377    12,529    5,494    3,055    3,850 
Insurance   2,137    2,863    2,156    1,896    1,278    (7,827)   2,932 
Management fees, related party   8,216    3,211    1,721    3,556    1,193    500    790 
Management Fees   1,084    1,273    1,527    918    2,395    287    655 
Repairs & maintenance   268    8,157    4,645    486    1,406    17,027    8,799 
Property taxes   8,249    4,217    11,242    7,008    1,718    1,375    2,756 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   3,355    8,783    3,822    2,082    6,399    4,472    5,586 
Total operating expenses   38,695    43,168    32,489    28,475    19,883    18,889    25,367 
                                    
Income (loss) from operations   (4,505)   (22,707)   (10,849)   2,495    (7,857)   (18,889)   (21,922)
                                    
Other income (expense)                                   
Interest expenses   -    14,631    5,899    14,385    -    -    - 
Total Other income (expense)   -    14,631    5,899    14,385    -    -    - 
                                    
Net Income (Loss)  $(4,505)  $(37,338)  $(16,749)  $(11,890)  $(7,857)  $(18,889)  $(21,922)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-134

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

  

   Osprey   Otoro   Palmer   Patrick   Peanut   Pearl   Pecan 
                             
Rental income  $27,540   $-   $-   $19,200   $16,275   $12,220   $18,899 
                                    
Operating expenses:                                   
Depreciation   10,980    10,984    3,822    6,614    5,929    14,997    5,725 
Insurance   1,917    2,436    527    823    1,409    1,728    830 
Management fees, related party   4,413    2,042    586    1,344    1,246    6,955    1,212 
Management Fees   2,020    224    765    1,323    1,738    1,006    1,368 
Repairs & maintenance   1,622    4,887    1,955    -    2,070    7,160    236 
Property taxes   6,231    8,896    (913)   857    820    2,568    824 
Credit loss expense (recovery)   -    8,385    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,704    4,755    5,974    1,568    2,005    6,621    1,843 
Total operating expenses   29,886    42,607    12,715    12,529    15,216    41,036    12,038 
                                    
Income (loss) from operations   (2,346)   (42,607)   (12,715)   6,671    1,059    (28,816)   6,861 
                                    
Other income (expense)                                   
Interest expenses   -    10,727    -    4,374    8,433    -    4,557 
Total Other income (expense)   -    10,727    -    4,374    8,433    -    4,557 
                                    
Net Income (Loss)  $(2,346)  $(53,334)  $(12,715)  $2,297   $(7,374)  $(28,816)  $2,304 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-135

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

  

   Peterson   Piedmont   Pinot   Pioneer   Plumtree   Point   Porthos 
                             
Rental income  $2,074   $27,540   $28,410   $37,762   $21,079   $28,924   $13,617 
                                    
Operating expenses:                                   
Depreciation   1,552    10,526    8,859    16,234    5,535    10,500    3,456 
Insurance   271    1,944    1,390    2,201    823    1,696    1,897 
Management fees, related party   26    3,603    2,074    8,739    1,581    3,105    1,575 
Management Fees   387    964    1,591    1,192    1,194    970    749 
Repairs & maintenance   2,471    256    944    2,594    979    760    3,290 
Property taxes   1,085    5,733    4,358    7,174    805    3,249    3,846 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   5,763    3,141    3,670    3,566    1,568    4,401    5,403 
Total operating expenses   11,555    26,169    22,886    41,700    12,484    24,680    20,217 
                                    
Income (loss) from operations   (9,482)   1,371    5,524    (3,937)   8,595    4,244    (6,600)
                                    
Other income (expense)                                   
Interest expenses   -    12,753    9,889    -    3,226    12,810    - 
Total Other income (expense)   -    12,753    9,889    -    3,226    12,810    - 
                                    
Net Income (Loss)  $(9,482)  $(11,382)  $(4,365)  $(3,937)  $5,369   $(8,566)  $(6,600)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-136

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

  

   Quincy   Redondo   Regency   Reginald   Reynolds   Ribbonwalk   Richardson 
                             
Rental income  $28,184   $26,216   $24,564   $32,665   $29,940   $22,511   $19,020 
                                    
Operating expenses:                                   
Depreciation   15,029    8,617    6,954    13,642    11,810    8,791    8,646 
Insurance   2,166    1,070    309    1,419    1,392    821    1,114 
Management fees, related party   4,715    3,147    2,500    4,313    5,676    1,390    2,502 
Management Fees   1,717    1,181    997    1,307    1,647    2,075    990 
Repairs & maintenance   10,228    9,249    1,154    5,984    166    450    1,054 
Property taxes   3,954    4,444    2,369    1,208    1,435    3,321    2,989 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   4,443    4,564    2,564    3,411    2,319    3,987    2,158 
Total operating expenses   42,252    32,271    16,847    31,283    24,445    20,835    19,454 
                                    
Income (loss) from operations   (14,068)   (6,055)   7,717    1,382    5,495    1,676    (434)
                                    
Other income (expense)                                   
Interest expenses   4,708    11,352    10,299    493    -    8,761    - 
Total Other income (expense)   4,708    11,352    10,299    493    -    8,761    - 
                                    
Net Income (Loss)  $(18,776)  $(17,407)  $(2,582)  $889   $5,495   $(7,085)  $(434)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-137

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

  

   Richmond   Ridge   Ritter   River   Riverwalk   Rooney   Roseberry 
                             
Rental income  $1,797   $22,451   $24,476   $23,520   $28,740   $25,140   $26,187 
                                    
Operating expenses:                                   
Depreciation   2,616    5,983    13,864    7,323    10,855    8,844    9,026 
Insurance   451    918    1,963    868    1,548    1,793    1,932 
Management fees, related party   74    1,372    7,066    1,625    6,031    2,666    1,464 
Management Fees   338    2,233    2,351    1,533    922    1,042    2,416 
Repairs & maintenance   2,681    -    19,043    3,402    816    -    350 
Property taxes   1,393    10,821    1,954    7,217    1,561    4,158    1,898 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   3,080    2,914    4,150    2,783    2,644    3,393    3,003 
Total operating expenses   10,633    24,241    50,392    24,751    24,376    21,896    20,088 
                                    
Income (loss) from operations   (8,836)   (1,789)   (25,916)   (1,231)   4,364    3,244    6,099 
                                    
Other income (expense)                                   
Interest expenses   -    6,963    -    8,035    -    10,654    9,848 
Total Other income (expense)   -    6,963    -    8,035    -    10,654    9,848 
                                    
Net Income (Loss)  $(8,836)  $(8,753)  $(25,916)  $(9,266)  $4,364   $(7,410)  $(3,749)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-138

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Rosewood   Roxy   Saddlebred   Saint   Sajni   Salem   Salinas 
                             
Rental income  $21,736   $23,940   $26,945   $22,380   $23,574   $25,230   $17,211 
                                    
Operating expenses:                                   
Depreciation   7,438    8,958    15,278    7,562    8,995    8,775    5,682 
Insurance   2,520    2,851    3,976    1,513    2,387    1,525    896 
Management fees, related party   1,809    2,442    3,230    2,360    2,686    1,437    1,757 
Management Fees   1,888    957    942    931    2,727    1,920    3,447 
Repairs & maintenance   -    440    1,183    -    6,123    888    27,015 
Property taxes   1,446    2,761    4,336    3,200    1,942    4,129    1,591 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   1,994    2,951    1,939    2,105    6,843    3,348    7,707 
Total operating expenses   17,094    21,360    30,884    17,671    31,703    22,021    48,094 
                                    
Income (loss) from operations   4,642    2,580    (3,939)   4,709    (8,128)   3,209    (30,883)
                                    
Other income (expense)                                   
Interest expenses   9,050    10,554    12,993    8,293    -    9,967    - 
Total Other income (expense)   9,050    10,554    12,993    8,293    -    9,967    - 
                                    
Net Income (Loss)  $(4,408)  $(7,974)  $(16,931)  $(3,584)  $(8,128)  $(6,758)  $(30,883)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-139

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Saturn   Scepter   Sequoyah   Shallowford   Shoreline   Sigma   Simon 
                             
Rental income  $17,085   $20,845   $16,618   $27,421   $28,825   $27,514   $9,288 
                                    
Operating expenses:                                   
Depreciation   8,560    6,475    6,801    9,928    8,520    10,392    3,314 
Insurance   1,370    1,304    935    1,545    1,325    1,294    490 
Management fees, related party   1,189    2,005    2,117    3,456    1,872    2,010    1,260 
Management Fees   1,367    968    1,312    975    2,372    2,155    671 
Repairs & maintenance   -    2,459    8,700    1,826    3,978    150    3,207 
Property taxes   3,562    3,468    2,612    5,281    11,800    6,637    1,589 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   2,013    4,762    6,090    3,204    6,141    2,622    6,936 
Total operating expenses   18,060    21,442    28,568    26,214    36,008    25,260    17,466 
                                    
Income (loss) from operations   (975)   (597)   (11,950)   1,206    (7,183)   2,254    (8,179)
                                    
Other income (expense)                                   
Interest expenses   6,523    7,396    8,048    11,991    9,896    10,536    - 
Total Other income (expense)   6,523    7,396    8,048    11,991    9,896    10,536    - 
                                    
Net Income (Loss)  $(7,498)  $(7,993)  $(19,998)  $(10,785)  $(17,079)  $(8,282)  $(8,179)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-140

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Sims   Soapstone   Sodalis   Spencer   Splash   Spring   Stonebriar 
                             
Rental income  $5,535   $20,508   $19,018   $26,554   $16,000   $20,340   $16,740 
                                    
Operating expenses:                                   
Depreciation   3,749    6,000    7,959    8,313    5,955    6,803    5,574 
Insurance   573    912    1,021    1,991    811    892    1,004 
Management fees, related party   1,118    1,225    3,071    1,830    1,335    1,759    1,396 
Management Fees   364    1,416    1,020    2,314    1,085    1,492    923 
Repairs & maintenance   835    1,020    2,455    388    976    1,200    3,023 
Property taxes   1,876    14    3,190    8,310    2,831    4,086    3,098 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   6,147    1,918    3,201    4,282    1,728    2,543    2,409 
Total operating expenses   14,662    12,503    21,918    27,427    14,721    18,774    17,426 
                                    
Income (loss) from operations   (9,127)   8,005    (2,900)   (873)   1,279    1,566    (686)
                                    
Other income (expense)                                   
Interest expenses   -    5,265    -    9,109    4,882    -    6,443 
Total Other income (expense)   -    5,265    -    9,109    4,882    -    6,443 
                                    
Net Income (Loss)  $(9,127)  $2,740   $(2,900)  $(9,982)  $(3,603)  $1,566   $(7,129)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-141

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Sugar   Summerset   Sundance   Sunnyside   Swift   Taylor   Terracotta 
                             
Rental income  $22,628   $18,152   $23,709   $20,388   $27,540   $13,313   $22,080 
                                    
Operating expenses:                                   
Depreciation   8,559    7,528    10,207    5,572    10,575    7,368    7,573 
Insurance   1,963    2,654    1,070    1,051    1,193    829    1,637 
Management fees, related party   1,758    1,189    2,877    1,990    4,645    1,391    2,325 
Management Fees   1,646    1,752    1,391    935    1,515    1,083    1,042 
Repairs & maintenance   708    2,384    4,545    2,334    966    11,693    1,113 
Property taxes   7,493    1,143    5,733    1,075    1,030    991    3,402 
Credit loss expense (recovery)   -    -    -    -    -    (1,246)   - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   3,274    4,612    2,890    4,419    2,467    5,215    5,611 
Total operating expenses   25,401    21,261    28,712    17,376    22,389    27,324    22,702 
                                    
Income (loss) from operations   (2,773)   (3,109)   (5,003)   3,012    5,151    (14,011)   (623)
                                    
Other income (expense)                                   
Interest expenses   10,060    7,746    11,352    -    -    6,904    8,706 
Total Other income (expense)   10,060    7,746    11,352    -    -    6,904    8,706 
                                    
Net Income (Loss)  $(12,832)  $(10,855)  $(16,355)  $3,012   $5,151   $(20,915)  $(9,329)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-142

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Theodore   Tulip   Tuscan   Tuscarora   Tuxford   Vernon   Walton 
                             
Rental income  $1,821   $21,722   $29,148   $21,705   $23,115   $22,740   $16,712 
                                    
Operating expenses:                                   
Depreciation   3,289    8,726    8,879    8,417    7,203    9,650    8,246 
Insurance   486    2,048    1,144    1,132    827    1,097    1,113 
Management fees, related party   649    1,664    2,220    2,786    1,678    1,466    4,107 
Management Fees   153    2,167    1,767    1,121    1,672    1,668    1,118 
Repairs & maintenance   830    3,252    235    4,030    3,560    -    5,583 
Property taxes   1,576    2,161    2,170    4,137    9,121    10,917    1,875 
Credit loss expense (recovery)   -    10,769    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   6,836    6,105    3,341    4,901    2,476    2,308    7,444 
Total operating expenses   13,819    36,893    19,756    26,524    26,537    27,105    29,487 
                                    
Income (loss) from operations   (11,999)   (15,171)   9,392    (4,819)   (3,422)   (4,365)   (12,775)
                                    
Other income (expense)                                   
Interest expenses   -    10,621    7,227    -    6,987    7,117    10,173 
Total Other income (expense)   -    10,621    7,227    -    6,987    7,117    10,173 
                                    
Net Income (Loss)  $(11,999)  $(25,792)  $2,165   $(4,819)  $(10,409)  $(11,481)  $(22,948)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-143

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Wave   Weldon   Wellington   Wentworth   Wescott   Westchester   Wildwood 
                             
Rental income  $300   $17,470   $28,741   $17,444   $17,107   $32,551   $21,473 
                                    
Operating expenses:                                   
Depreciation   9,164    5,811    12,380    6,833    7,530    9,374    6,063 
Insurance   1,681    1,204    1,720    522    1,674    1,543    1,905 
Management fees, related party   1,433    1,262    3,134    1,125    2,615    2,325    2,382 
Management Fees   24    1,369    2,597    2,077    991    2,774    861 
Repairs & maintenance   1,077    695    6,186    -    2,193    2,479    30 
Property taxes   7,001    2,711    1,562    2,730    3,430    19,915    580 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
Other operating expenses   7,334    2,011    3,114    1,498    3,654    3,039    3,752 
Total operating expenses   27,715    15,063    30,692    14,785    22,087    41,449    15,573 
                                    
Income (loss) from operations   (27,415)   2,407    (1,951)   2,659    (4,980)   (8,897)   5,901 
                                    
Other income (expense)                                   
Interest expenses   8,761    5,349    -    6,258    8,291    9,700    6,148 
Total Other income (expense)   8,761    5,349    -    6,258    8,291    9,700    6,148 
                                    
Net Income (Loss)  $(36,176)  $(2,942)  $(1,951)  $(3,600)  $(13,271)  $(18,598)  $(248)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-144

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Willow   Wilson   Winchester   Windsor   Winston   Wisteria   Consolidated 
                             
Rental income  $20,990   $26,665   $6,279   $31,772   $18,681   $20,845   $4,781,812 
                                    
Operating expenses:                                   
Depreciation   8,045    11,722    2,806    9,618    9,039    8,416    1,952,621 
Insurance   1,086    1,398    395    1,812    1,219    1,784    288,592 
Management fees, related party   2,527    3,533    222    2,777    2,033    1,308    590,752 
Management Fees   1,008    1,115    1,600    2,901    1,580    1,980    315,497 
Repairs & maintenance   1,428    2,548    7,503    216    660    1,867    721,307 
Property taxes   3,100    3,595    150    5,595    3,705    (1,065)   945,255 
Credit loss expense (recovery)   -    -    -    -    -    -    64,851 
Loss on sale of property   -    -    -    -    -    -    39,763 
Other operating expenses   2,100    1,812    7,964    3,950    2,701    6,077    932,867 
Total operating expenses   19,294    25,724    20,640    26,870    20,936    20,368    5,851,506 
                                    
Income (loss) from operations   1,696    941    (14,362)   4,903    (2,254)   478    (1,069,694)
                                    
Other income (expense)                                   
Interest expenses   -    -    -    10,623    -    9,932    1,198,358 
Total Other income (expense)   -    -    -    10,623    -    9,932    1,198,358 
                                    
Net Income (Loss)  $1,696   $941   $(14,362)  $(5,720)  $(2,254)  $(9,454)  $(2,268,052)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-145

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   100   101   Abbington   Abernant   Alvin   Amber   Apollo 
                             
Balance at January 1, 2024  $594,713   $582,046   $458,151   $(5,563)  $(4,954)  $86,890   $59,321 
Issuance of membership units, net of offering costs   -    -    -    252,032    345,786    -    - 
Redemption of membership units   (1,300)   (3,600)   -    -    -    -    (300)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (7,823)   (16,055)   (17,337)   (13,465)   (20,695)   (3,948)   (1,533)
Net income (loss)   (19,661)   (984)   9,419    (1,605)   6,844    (6,653)   (12,045)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $565,929   $561,406   $450,233   $231,398   $326,981   $76,289   $45,443 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-146

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Aster   Augusta   Avebury   Avondale   Badminton   Ballinger   Bandelier 
                             
Balance at January 1, 2024  $119,930   $315,424   $81,236   $338,391   $62,192   $319,272   $104,974 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   (100)   -    (500)   -    -    -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (2,832)   (16,010)   (2,422)   (11,934)   (4,058)   (17,500)   (2,654)
Net income (loss)   (6,670)   3,966    (11,048)   (4,823)   (5,605)   14    (15,525)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $110,329   $303,380   $67,265   $321,633   $52,529   $301,786   $86,796 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-147

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Baron   Basil   Bayside   Bazzel   Bedford   Bella   Belle 
                             
Balance at January 1, 2024  $555,958   $55,865   $77,674   $235,519   $91,534   $309,049   $403,592 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   (540)   -    (100)   (500)   -    -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (13,136)   (4,963)   (5,301)   (7,168)   (2,492)   (14,292)   (11,633)
Net income (loss)   (11,962)   126    (7,194)   (2,399)   (28,695)   (1,339)   (535)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $530,319   $51,027   $65,078   $225,453   $60,346   $293,418   $391,424 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-148

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Belvedere   Bergenia   Blossom   Bonneau   Brainerd   Braxton   Brennan 
                             
Balance at January 1, 2024  $310,281   $233,188   $258,124   $323,758   $156,724   $313,883   $51,413 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    (2,100)   -    -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (18,360)   (14,394)   (9,658)   (11,151)   (11,109)   (16,257)   (2,213)
Net income (loss)   6,610    4,936    (15,036)   (495)   (575)   (1,698)   (19,210)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $298,531   $223,730   $233,430   $310,011   $145,040   $295,928   $29,990 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-149

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Briarwood   Brooklyn   Burlington   Butter   Calvin   Camino   Cawley 
                             
Balance at January 1, 2024  $226,325   $77,133   $613,517   $99,117   $257,076   $269,909   $330,247 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    (1,000)   (100)   -    (2,200)   - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (15,063)   (4,286)   (7,733)   (4,999)   (16,447)   (10,265)   (18,689)
Net income (loss)   4,335    (3,122)   (17,894)   (19,822)   4,352    (4,996)   6,112 
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $215,598   $69,725   $586,890   $74,196   $244,981   $252,448   $317,670 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-150

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Centennial   Chaparral   Chelsea   Chester   Chickamauga   Chinook   Chitwood 
                             
Balance at January 1, 2024  $84,594   $82,340   $93,350   $195,419   $379,446   $312,617   $376,491 
Issuance of membership units, net of offering costs   (118,300)   -    -    -    -    -    - 
Redemption of membership units   -    -    (500)   (400)   -    -    (500)
Deemed contribution from Manager   3,523    -    -    -    -    -    - 
Distributions   (26,659)   (7,210)   (6,922)   (5,657)   (19,979)   (15,300)   (17,727)
Net income (loss)   56,841    (736)   (4,424)   (12,490)   6,088    2,214    3,762 
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $0   $74,394   $81,503   $176,872   $365,556   $299,531   $362,026 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-151

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Clover   Coatbridge   Collier   Collinston   Conway   Cove   Creekside 
                             
Balance at January 1, 2024  $321,408   $71,177   $333,677   $53,806   $650,075   $219,469   $307,945 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   (200)   -    (300)   -    (600)   -    (1,500)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (12,647)   (2,801)   (13,724)   (848)   (15,845)   (1,971)   (16,501)
Net income (loss)   (5,725)   (12,499)   5,802    (23,040)   (5,943)   (30,562)   5,243 
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $302,837   $55,876   $325,455   $29,918   $627,687   $186,936   $295,187 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-152

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Creekwood   Cumberland   Cupcake   Cypress   Daisy   Davidson   Dawson 
                             
Balance at January 1, 2024  $151,312   $301,324   $75,699   $186,253   $298,668   $47,233   $58,451 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    (2,100)   -    -    (2,600)   -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (4,193)   (13,412)   (8,625)   (4,552)   (13,115)   (1,932)   (3,333)
Net income (loss)   (6,134)   (3,942)   (2,751)   (11,869)   (1,264)   (10,635)   (10,298)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $140,985   $281,871   $64,322   $169,832   $281,689   $34,667   $44,820 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-153

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Delta   Dewberry   Diablo   Dogwood   Dolittle   Dolly   Dops 
                             
Balance at January 1, 2024  $51,210   $55,358   $57,498   $240,982   $85,280   $663,182   $208,836 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    -    -    (350)   - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (623)   (2,373)   (3,107)   (11,168)   (3,757)   (17,153)   (10,227)
Net income (loss)   (44,466)   (16,496)   (7,557)   (4,096)   (11,119)   (4,424)   483 
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $6,122   $36,489   $46,835   $225,717   $70,405   $641,255   $199,092 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-154

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Dorchester   Dunbar   Eagle   Eastfair   Eastwood   Elevation   Ella 
                             
Balance at January 1, 2024  $325,303   $282,263   $154,904   $46,722   $338,973   $65,056   $260,478 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   (500)   (200)   (1,000)   (100)   -    (100)   (100)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (9,172)   (3,157)   (9,870)   (3,497)   (8,688)   (1,696)   (11,488)
Net income (loss)   (7,635)   (15,230)   (2,101)   (8,977)   (13,312)   (36,240)   1,740 
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $307,996   $263,676   $141,933   $34,148   $316,973   $27,020   $250,630 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-155

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Ellen   Elm   Emporia   Ensenada   Falcon   Felix   Fenwick 
                             
Balance at January 1, 2024  $261,367   $44,836   $83,249   $160,861   $152,047   $261,943   $313,918 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    -    (600)   -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (15,216)   (3,834)   (5,532)   (2,380)   (7,821)   (13,644)   (11,642)
Net income (loss)   10,157    (2,489)   (8,294)   (33,627)   (5,070)   1,278    (5,508)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $256,308   $38,512   $69,423   $124,854   $138,556   $249,576   $296,768 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-156

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Fletcher   Folly   Forest   Foster   Franklin   Gardens   General 
                             
Balance at January 1, 2024  $191,724   $295,682   $81,213   $332,461   $310,871   $77,825   $321,727 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    (400)   -    -    -    -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (12,325)   (9,345)   (2,613)   (20,937)   (15,435)   (4,929)   (18,989)
Net income (loss)   7,704    (2,244)   (17,551)   6,141    (369)   (4,760)   7,767 
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $187,102   $283,693   $61,048   $317,665   $295,067   $68,136   $310,505 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-157

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Goose   Grant   Greenhill   Gretal   Grove   Hadden   Hansard 
                             
Balance at January 1, 2024  $141,607   $110,433   $91,431   $451,575   $67,338   $79,348   $313,472 
Issuance of membership units, net of offering costs   -    -    -    -    (76)   -    - 
Redemption of membership units   (250)   -    -    -    -    (500)   (100)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (8,771)   (7,893)   (6,498)   (20,350)   (1,297)   (4,452)   (19,822)
Net income (loss)   (1,905)   (3,634)   (5,479)   5,065    (13,754)   (7,535)   8,085 
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $130,681   $98,905   $79,454   $436,291   $52,212   $66,862   $301,635 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-158

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Hansel   Hargrave   Harrison   Henry   Heritage   Heron   Highland 
                             
Balance at January 1, 2024  $196,181   $(4,083)  $237,950   $384,249   $76,886   $86,296   $275,933 
Issuance of membership units, net of offering costs   -    259,629    -    -    -    -    - 
Redemption of membership units   -    -    (1,950)   (1,400)   -    -    (500)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (3,793)   (10,393)   (9,225)   (6,349)   (2,899)   (1,714)   (9,854)
Net income (loss)   (20,608)   (11,728)   (8,420)   (26,122)   (10,155)   (14,874)   3,276 
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $171,780   $233,425   $218,355   $350,378   $63,833   $69,707   $268,855 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-159

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Hines   Hobbes   Holcomb   Holland   Hollandaise   Holloway   Inglewood 
                             
Balance at January 1, 2024  $249,789   $253,081   $347,189   $56,958   $114,926   $100,243   $661,009 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   (500)   -    -    -    (400)   -    (1,050)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (5,541)   (11,549)   (14,591)   (2,678)   (3,840)   (6,713)   (18,828)
Net income (loss)   (8,806)   (8,682)   (647)   (4,175)   (27,167)   (7,790)   (2,970)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $234,942   $232,850   $331,950   $50,105   $83,519   $85,740   $638,161 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-160

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Irene   Jack   Jake   Jefferson   Jill   Johnny   June 
                             
Balance at January 1, 2024  $191,502   $119,501   $548,874   $282,870   $209,230   $537,900   $541,248 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    (1,000)   -    -    (2,000)   (500)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (13,936)   (2,055)   (8,735)   (18,822)   (8,420)   (10,862)   (5,841)
Net income (loss)   8,021    (22,768)   (16,373)   10,280    (9,306)   (5,148)   (13,968)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $185,586   $94,678   $522,766   $274,328   $191,504   $519,889   $520,939 

   

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-161

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Jupiter   Kawana   Kennesaw   Kenny   KerriAnn   Kessler   Kingsley 
                             
Balance at January 1, 2024  $64,237   $85,994   $414,906   $673,437   $83,068   $131,393   $78,599 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    (1,100)   (2,850)   (2,500)   (100)   - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (2,636)   (6,004)   (11,882)   (9,491)   (2,120)   (1,741)   (4,190)
Net income (loss)   (7,101)   (4,371)   (5,254)   (18,363)   (24,022)   (16,481)   (12,919)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $54,500   $75,619   $396,669   $642,733   $54,425   $113,071   $61,490 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-162

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Kirkwood   Korin   Lallie   Lanier   Lannister   Latte   Lennox 
                             
Balance at January 1, 2024  $73,583   $283,739   $78,613   $112,605   $56,650   $358,125   $65,718 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    -    -    -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (3,178)   (17,601)   (1,490)   (3,250)   (1,410)   (11,554)   (4,619)
Net income (loss)   (5,989)   6,709    (21,796)   (17,189)   (16,549)   (5,583)   (9,117)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $64,416   $272,847   $55,327   $92,166   $38,691   $340,988   $51,982 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-163

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Lierly   Lily   Limestone   Litton   Longwoods   Lookout   Loretta 
                             
Balance at January 1, 2024  $75,997   $145,760   $76,674   $175,400   $281,331   $333,510   $662,939 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    (100)   -    (200)   (8,700)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (9,154)   (3,391)   (2,180)   (9,117)   (14,201)   (13,351)   (14,953)
Net income (loss)   (559)   (14,582)   (25,317)   (11,725)   (994)   2,091    (1,607)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $66,284   $127,788   $49,177   $154,459   $266,136   $322,051   $637,678 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-164

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Louis   Louise   Lovejoy   Luna   Lurleen   Madison   Mae 
                             
Balance at January 1, 2024  $288,474   $94,031   $72,578   $45,060   $111,046   $88,297   $348,853 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    (500)   -    -    -    (400)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (16,431)   (5,068)   (5,688)   (2,908)   (6,269)   (2,953)   (15,872)
Net income (loss)   6,452    (8,078)   (5,082)   (10,065)   (4,982)   (2,668)   (606)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $278,495   $80,885   $61,308   $32,086   $99,796   $82,675   $331,975 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-165

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Magnolia   Malbec   Mammoth   Marcelo   Marie   Marietta   Marion 
                             
Balance at January 1, 2024  $69,864   $91,461   $80,035   $283,064   $330,281   $144,459   $265,793 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   (1,000)   (100)   -    -    -    -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (1,601)   (6,477)   (864)   (14,960)   (23,434)   (1,612)   (12,410)
Net income (loss)   (17,856)   367    (37,129)   3,247    13,300    (19,973)   (1,663)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $49,406   $85,252   $42,043   $271,350   $320,147   $122,875   $251,720 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-166

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Marple   Martell   Mary   Matchingham   McGregor   McLovin   Meadow 
                             
Balance at January 1, 2024  $185,111   $263,183   $282,657   $62,943   $287,433   $140,027   $97,301 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    (300)   -    -    -    -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (7,151)   (10,714)   (18,034)   (7,359)   (12,998)   (7,550)   (4,330)
Net income (loss)   (6,939)   (5,751)   9,682    (2,249)   215    (8,515)   (10,327)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $171,022   $246,417   $274,304   $53,335   $274,650   $123,962   $82,643 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-167

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Mimosa   Mojave   Murphy   Mycroft   Nugget   Odessa   Olive 
                             
Balance at January 1, 2024  $110,821   $66,670   $84,745   $189,637   $527,454   $107,183   $88,603 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    (200)   (2,500)   (100)   - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (7,015)   (5,989)   (3,197)   (12,483)   (17,250)   (6,146)   (6,116)
Net income (loss)   (10,904)   (3,557)   (14,490)   7,162    (1,965)   (11,002)   (6,300)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $92,902   $57,124   $67,058   $184,116   $505,739   $89,936   $76,187 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-168

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Oly   Onyx   Oscar   Osceola   Osprey   Otoro   Palmer 
                             
Balance at January 1, 2024  $148,506   $340,043   $255,653   $284,474   $345,659   $64,418   $304,533 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    -    (100)   (680)   - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (5,305)   (16,409)   (12,806)   (9,947)   (10,436)   (2,053)   (14,474)
Net income (loss)   (13,645)   2,657    3,767    (3,638)   (13,327)   (42,878)   (1,916)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $129,557   $326,290   $246,614   $270,889   $321,796   $18,807   $288,143 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-169

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Patrick   Peanut   Pearl   Pecan   Peterson   Piedmont   Pinot 
                             
Balance at January 1, 2024  $88,643   $68,384   $517,843   $86,154   $244,203   $202,141   $97,930 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    (300)   (1,000)   -    -    -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (5,258)   (4,329)   (19,419)   (9,739)   (15,019)   (5,411)   (6,166)
Net income (loss)   (4,230)   (2,363)   146    1,966    5,222    (14,240)   (2,838)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $79,155   $61,392   $497,570   $78,381   $234,406   $182,490   $88,925 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-170

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Pioneer   Plumtree   Point   Porthos   Quincy   Redondo   Regency 
                             
Balance at January 1, 2024  $552,083   $86,419   $114,176   $317,214   $503,308   $156,396   $151,349 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   (100)   -    -    -    (3,750)   -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (10,161)   (10,239)   (2,655)   (18,293)   (13,812)   (3,425)   (10,229)
Net income (loss)   (10,017)   (2,655)   (24,445)   1,460    2,430    (21,351)   (5,917)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $531,806   $73,525   $87,075   $300,381   $488,176   $131,621   $135,203 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-171

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Reginald   Reynolds   Ribbonwalk   Richardson   Richmond   Ridge   Ritter 
                             
Balance at January 1, 2024  $412,678   $426,507   $79,773   $313,915   $(6,154)  $70,221   $468,854 
Issuance of membership units, net of offering costs   -    -    -    -    414,717    -    - 
Redemption of membership units   (2,450)   (500)   -    (1,200)   -    -    (1,000)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (6,460)   (17,193)   (2,498)   (15,616)   (18,450)   (5,210)   (11,881)
Net income (loss)   (19,293)   225    (12,621)   4,619    (8,039)   (4,857)   (9,982)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $384,474   $409,040   $64,654   $301,717   $382,074   $60,154   $445,991 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-172

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   River   Riverwalk   Rooney   Roseberry   Rosewood   Roxy   Saddlebred 
                             
Balance at January 1, 2024  $83,045   $386,873   $95,046   $98,321   $76,048   $89,633   $121,332 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   (100)   (200)   -    -    -    -    (100)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (6,185)   (11,830)   (4,951)   (6,170)   (3,453)   (4,483)   (5,636)
Net income (loss)   (2,497)   (3,126)   (4,204)   (2,715)   (5,001)   (6,637)   (11,993)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $74,263   $371,717   $85,891   $89,436   $67,594   $78,514   $103,603 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-173

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Saint   Sajni   Salem   Salinas   Saturn   Scepter   Sequoyah 
                             
Balance at January 1, 2024  $109,504   $303,788   $94,622   $212,726   $65,030   $70,772   $120,340 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    (200)   -    -    (100)   - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (9,534)   (14,355)   (4,803)   (10,545)   (2,607)   (2,695)   (3,163)
Net income (loss)   677    543    (15,256)   4,085    (11,886)   (4,110)   (19,493)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $100,647   $289,976   $74,364   $206,266   $50,537   $63,866   $97,684 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-174

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Shallowford   Shoreline   Sigma   Simon   Sims   Soapstone   Sodalis 
                             
Balance at January 1, 2024  $181,574   $73,683   $107,785   $302,058   $285,308   $80,345   $278,889 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    -    -    -    (2,100)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (2,969)   (5,022)   (6,840)   (18,477)   (14,668)   (6,812)   (9,328)
Net income (loss)   (20,782)   (6,822)   (7,410)   9,372    2,357    (1,269)   885 
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $157,824   $61,839   $93,534   $292,953   $272,996   $72,265   $268,347 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-175

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Spencer   Splash   Spring   Stonebriar   Sugar   Summerset   Sundance 
                             
Balance at January 1, 2024  $88,471   $79,726   $243,698   $56,469   $97,170   $70,725   $160,145 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   (200)   -    -    -    -    -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (6,535)   (6,809)   (10,859)   (2,262)   (4,053)   (3,278)   (3,930)
Net income (loss)   (5,572)   (7,510)   (4,453)   (6,433)   (9,261)   (6,483)   (20,394)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $76,164   $65,406   $228,386   $47,774   $83,856   $60,964   $135,821 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-176

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Sunnyside   Swift   Taylor   Terracotta   Theodore   Tulip   Tuscan 
                             
Balance at January 1, 2024  $234,608   $341,318   $113,555   $96,781   $299,969   $67,164   $125,639 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    -    -    (300)   - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (13,990)   (11,532)   (3,361)   (2,206)   (17,160)   (4,540)   (10,891)
Net income (loss)   2,050    (11,039)   (10,476)   (39,241)   4,844    (5,253)   (4,020)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $222,668   $318,747   $99,717   $55,334   $287,654   $57,071   $110,728 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-177

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Tuscarora   Tuxford   Vernon   Walton   Wave   Weldon   Wellington 
                             
Balance at January 1, 2024  $343,747   $64,308   $66,717   $256,038   $57,312   $66,712   $406,987 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    (1,500)   -    -    (700)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (19,066)   (1,049)   (4,222)   (7,728)   (418)   (2,766)   (17,003)
Net income (loss)   5,155    (19,547)   (6,719)   401    (56,181)   (3,833)   (3,484)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $329,836   $43,712   $55,776   $247,211   $713   $60,113   $385,801 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-178

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Wentworth   Wescott   Westchester   Wildwood   Willow   Wilson   Winchester 
                             
Balance at January 1, 2024  $71,795   $120,950   $122,383   $113,442   $289,615   $379,202   $277,879 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    -    (1,600)   (100)   - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (8,760)   (4,138)   (5,775)   (7,173)   (9,395)   (16,257)   (15,671)
Net income (loss)   2,071    (15,479)   (15,810)   (740)   (10,097)   (1,034)   (1,425)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    -    -    -    - 
Balance at December 31, 2024  $65,105   $101,334   $100,798   $105,529   $268,524   $361,810   $260,782 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-179

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Windsor   Winston   Wisteria   Campbell   Arlo   Hualapai   Brentwood 
                             
Balance at January 1, 2024  $108,799   $334,099   $87,823   $(69,756)  $-   $-   $- 
Issuance of membership units, net of offering costs   -    -    -    -    -    -    - 
Redemption of membership units   -    (1,100)   -    -    -    -    - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (4,725)   (12,214)   (4,085)   -    -    -    - 
Net income (loss)   (45,280)   (4,025)   (9,138)        (7,349)   (15,017)   (22,882)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   -    -    -    69,756    7,349    15,017    22,882 
Balance at December 31, 2024  $58,795   $316,759   $74,600   $-   $-   $-   $- 

  

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-180

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Bellvue   Lorenz   Lexie   Hartsfield   Unallocated members capital   Consolidated 
                         
Balance at January 1, 2024  $-   $-   $-   $-   $-   $49,636,238 
Issuance of membership units, net of offering costs   -    -    -    -    -    1,153,788 
Redemption of membership units   -    -    -    -    -    (74,570)
Deemed contribution from Manager   -    -    -    -    -    3,523 
Distributions   -    -    -    -    -    (2,126,831)
Net income (loss)   (11,733)   (10,612)   (21,307)   (20,579)   -    (1,748,139)
Reclassification of disposed and transferred series retained earnings (accumulated deficit)   11,733    10,612    21,307    20,579    (179,235)   - 
Balance at December 31, 2024  $-   $-   $-   $-   $(179,235)  $46,844,009 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-181

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

    100    101    Abbington    Abernant    Alvin    Amber    Apollo 
                                    
Balance at January 1, 2023   620,899    632,909    472,424    -    -    103,869    68,607 
Issuance of membership units, net of offering costs   (7,100)   (5,300)   (1,000)   -    -    -    (600)
Deemed contribution from Manager   -    11,543    -    2,405    330    -    - 
Distributions   (27,747)   (15,171)   (15,374)   -    -    (3,862)   (2,889)
Net income (loss)   8,661    (41,935)   2,101    (7,968)   (5,284)   (13,118)   (5,797)
Balance at December 31, 2023  $594,713   $582,046   $458,151   $(5,563)  $(4,954)  $86,890   $59,321 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-182

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Aster   Augusta   Avebury   Avondale   Badminton   Ballinger   Bandelier 
                             
Balance at January 1, 2023   140,762    -    92,573    -    84,054    -    110,135 
Issuance of membership units, net of offering costs   (500)   325,223    (1,000)   359,466    (1,200)   326,071    (200)
Deemed contribution from Manager   1,695    1,431    -    -    -    710    - 
Distributions   (3,459)   (3,520)   (4,755)   (7,780)   (4,844)   -    (4,425)
Net income (loss)   (18,568)   (7,711)   (5,583)   (13,295)   (15,818)   (7,509)   (535)
Balance at December 31, 2023  $119,930   $315,424   $81,236   $338,391   $62,192   $319,272   $104,974 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-183

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Baron   Basil   Bayside   Bazzel   Bedford   Bella   Belle 
                             
Balance at January 1, 2023   574,107    70,288    99,814    256,450    98,872    -    446,293 
Issuance of membership units, net of offering costs   (1,120)   (100)   -    (200)   (1,000)   335,062    (3,950)
Deemed contribution from Manager   -    -    -    -    -    1,161    - 
Distributions   (18,218)   (5,011)   (7,383)   (5,813)   (7,330)   (3,990)   (12,520)
Net income (loss)   1,189    (9,313)   (14,757)   (14,918)   992    (23,184)   (26,232)
Balance at December 31, 2023  $555,958   $55,865   $77,674   $235,519   $91,534   $309,049   $403,592 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-184

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Belvedere   Bergenia   Blossom   Bonneau   Brainerd   Braxton   Brennan 
                             
Balance at January 1, 2023   -    -    275,525    340,414    172,962    334,693    (10,323)
Issuance of membership units, net of offering costs   322,875    239,423    (1,000)   (250)   -    (1,100)   90,622 
Deemed contribution from Manager   -    898    -    -    -    -    (2,443)
Distributions   (8,043)   (2,848)   (13,421)   (11,740)   (7,921)   (19,353)   (1,485)
Net income (loss)   (4,550)   (4,285)   (2,980)   (4,667)   (8,318)   (357)   (24,959)
Balance at December 31, 2023  $310,281   $233,188   $258,124   $323,758   $156,724   $313,883   $51,413 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-185

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Briarwood   Brooklyn   Burlington   Butter   Calvin   Camino   Campbell 
                             
Balance at January 1, 2023   -    102,768    640,125    116,216    -    280,251    (19,436)
Issuance of membership units, net of offering costs   235,059    99    (6,550)   (2,800)   262,352    -    - 
Deemed contribution from Manager   2,168    -    -    -    472    -    - 
Distributions   -    (4,579)   (20,275)   (7,471)   -    (14,274)   - 
Net income (loss)   (10,901)   (21,156)   217    (6,828)   (5,748)   3,933    (50,320)
Balance at December 31, 2023  $226,325   $77,133   $613,517   $99,117   $257,076   $269,909   $(69,756)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-186

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Cawley   Centennial   Chaparral   Chelsea   Chester   Chickamauga   Chinook 
                             
Balance at January 1, 2023   -    95,037    89,185    102,632    210,665    3,049    - 
Issuance of membership units, net of offering costs   342,749    -    -    -    -    397,981    333,328 
Deemed contribution from Manager   (158)   -    -    -    -    -    1,282 
Distributions   (7,789)   (5,442)   (8,383)   (6,599)   (5,712)   (17,229)   (3,970)
Net income (loss)   (4,555)   (5,001)   1,538    (2,684)   (9,534)   (4,355)   (18,023)
Balance at December 31, 2023  $330,247   $84,594   $82,340   $93,350   $195,419   $379,446   $312,617 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-187

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Chitwood   Clover   Coatbridge   Collier   Collinston   Conway   Cove 
                             
Balance at January 1, 2023   391,243    340,644    104,608    356,996    65,580    681,755    - 
Issuance of membership units, net of offering costs   (250)   (2,200)   (100)   (11,600)   (400)   (5,000)   227,408 
Deemed contribution from Manager   -    -    -    -    -    -    890 
Distributions   (16,332)   (17,425)   (6,021)   (12,101)   (2,043)   (17,951)   (5,666)
Net income (loss)   1,830    389    (27,310)   381    (9,331)   (8,729)   (3,163)
Balance at December 31, 2023  $376,491   $321,408   $71,177   $333,677   $53,806   $650,075   $219,469 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-188

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Creekside   Creekwood   Cumberland   Cupcake   Cypress   Daisy   Davidson 
                             
Balance at January 1, 2023   324,614    168,173    313,735    82,851    204,742    315,110    60,995 
Issuance of membership units, net of offering costs   (3,300)   -    (1,000)   (100)   (100)   (2,500)   - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (16,525)   (4,465)   (14,482)   (8,604)   (5,905)   (13,978)   (2,681)
Net income (loss)   3,157    (12,396)   3,071    1,552    (12,483)   36    (11,081)
Balance at December 31, 2023  $307,945   $151,312   $301,324   $75,699   $186,253   $298,668   $47,233 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-189

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Dawson   Delta   Dewberry   Diablo   Dogwood   Dolittle   Dolly 
                             
Balance at January 1, 2023   73,939    100,118    69,213    76,957    250,991    103,056    697,006 
Issuance of membership units, net of offering costs   (100)   -    (800)   (100)   (1,400)   -    (6,350)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (4,057)   (2,321)   (4,398)   (3,353)   (10,856)   (5,749)   (17,389)
Net income (loss)   (11,331)   (46,587)   (8,657)   (16,006)   2,247    (12,027)   (10,084)
Balance at December 31, 2023  $58,451   $51,210   $55,358   $57,498   $240,982   $85,280   $663,182 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-190

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Dops   Dorchester   Dunbar   Duncan   Eagle   Eastfair   Eastwood 
                             
Balance at January 1, 2023   (900)   350,394    318,473    -    164,205    69,956    - 
Issuance of membership units, net of offering costs   221,871    (1,000)   (3,700)   -    -    (0)   346,808 
Deemed contribution from Manager   (262)   -    -    -    -    -    1,136 
Distributions   (8,422)   (11,622)   (8,120)   -    (8,529)   (5,169)   - 
Net income (loss)   (3,450)   (12,469)   (24,390)   -    (771)   (18,065)   (8,970)
Balance at December 31, 2023  $208,836   $325,303   $282,263   $-   $154,904   $46,722   $338,973 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-191

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Elevation   Ella   Ellen   Elm   Emporia   Ensenada   Falcon 
                             
Balance at January 1, 2023   99,050    -    -    61,659    113,623    177,988    161,723 
Issuance of membership units, net of offering costs   -    283,279    274,662    -    (100)   (300)   (200)
Deemed contribution from Manager   -    896    1,391    -    -    -    - 
Distributions   (3,268)   (10,117)   (2,675)   (3,366)   (4,728)   (9,710)   (8,114)
Net income (loss)   (30,726)   (13,580)   (12,011)   (13,457)   (25,546)   (7,116)   (1,362)
Balance at December 31, 2023  $65,056   $260,478   $261,367   $44,836   $83,249   $160,861   $152,047 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-192

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Felix   Fenwick   Fletcher   Folly   Forest   Foster   Franklin 
                             
Balance at January 1, 2023   -    -    -    322,669    112,792    -    - 
Issuance of membership units, net of offering costs   273,851    328,106    199,773    -    (400)   344,939    327,859 
Deemed contribution from Manager   (296)   388    (354)   -    -    1,704    1,536 
Distributions   (6,215)   (7,455)   -    (10,874)   (4,544)   (9,332)   (3,194)
Net income (loss)   (5,397)   (7,121)   (7,696)   (16,113)   (26,635)   (4,850)   (15,329)
Balance at December 31, 2023  $261,943   $313,918   $191,724   $295,682   $81,213   $332,461   $310,871 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-193

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Gardens   General   Goose   Grant   Greenhill   Gretal   Grove 
                             
Balance at January 1, 2023   90,486    -    152,001    119,168    113,152    478,067    75,984 
Issuance of membership units, net of offering costs   (200)   346,088    (500)   -    (4,000)   -    - 
Deemed contribution from Manager   -    970    -    -    -    -    - 
Distributions   (5,403)   (4,120)   (9,163)   (6,960)   (6,878)   (17,786)   (3,063)
Net income (loss)   (7,059)   (21,211)   (730)   (1,776)   (10,844)   (8,705)   (5,583)
Balance at December 31, 2023  $77,825   $321,727   $141,607   $110,433   $91,431   $451,575   $67,338 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-194

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Hadden   Hansard   Hansel   Hargrave   Harrison   Henry   Heritage 
                             
Balance at January 1, 2023   84,506    (900)   222,297    -    254,440    417,931    88,728 
Issuance of membership units, net of offering costs   (1,000)   325,232    -    -    (1,100)   (4,250)   - 
Deemed contribution from Manager   -    1,926    -    1,843    -    -    - 
Distributions   (6,468)   (12,337)   (8,547)   -    (7,938)   (7,130)   (3,873)
Net income (loss)   2,311    (449)   (17,569)   (5,926)   (7,452)   (22,302)   (7,968)
Balance at December 31, 2023  $79,348   $313,472   $196,181   $(4,083)  $237,950   $384,249   $76,886 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-195

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Heron   Highland   Hines   Hobbes   Holcomb   Holland   Hollandaise 
                             
Balance at January 1, 2023   98,180    282,783    259,919    -    359,072    68,008    125,632 
Issuance of membership units, net of offering costs   (200)   (1,750)   (1,200)   259,827    (600)   (100)   - 
Deemed contribution from Manager   -    -    -    2,001    -    -    - 
Distributions   (4,317)   (9,690)   (9,744)   -    (12,268)   (2,931)   (6,248)
Net income (loss)   (7,367)   4,590    814    (8,747)   985    (8,019)   (4,459)
Balance at December 31, 2023  $86,296   $275,933   $249,789   $253,081   $347,189   $56,958   $114,926 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-196

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Holloway   Inglewood   Irene   Jack   Jake   Jefferson   Jill 
                             
Balance at January 1, 2023   121,577    684,630    -    143,237    597,448    (900)   229,017 
Issuance of membership units, net of offering costs   (100)   (2,200)   199,694    -    (8,700)   294,664    - 
Deemed contribution from Manager   -    -    376    -    -    2,893    - 
Distributions   (8,705)   (20,277)   -    (5,688)   (17,454)   (11,178)   (8,580)
Net income (loss)   (12,530)   (1,144)   (8,568)   (18,048)   (22,420)   (2,609)   (11,207)
Balance at December 31, 2023  $100,243   $661,009   $191,502   $119,501   $548,874   $282,870   $209,230 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-197

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Johnny   June   Jupiter   Kawana   Kennesaw   Kenny   KerriAnn 
                             
Balance at January 1, 2023   568,318    570,463    71,731    93,538    426,903    700,843    95,660 
Issuance of membership units, net of offering costs   (2,520)   (1,800)   (200)   (100)   (850)   (6,500)   - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (17,941)   (18,608)   (3,151)   (5,839)   (13,115)   (17,404)   (3,797)
Net income (loss)   (9,958)   (8,807)   (4,143)   (1,605)   1,968    (3,501)   (8,795)
Balance at December 31, 2023  $537,900   $541,248   $64,237   $85,994   $414,906   $673,437   $83,068 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-198

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Kessler   Kingsley   Kirkwood   Korin   Lallie   Lanier   Lannister 
                             
Balance at January 1, 2023   146,499    101,900    82,431    (1,308)   123,846    131,558    65,502 
Issuance of membership units, net of offering costs   (2,500)   -    -    298,485    (600)   (100)   (800)
Deemed contribution from Manager   -    -    -    (939)   -    -    - 
Distributions   (3,439)   (7,193)   (3,291)   (11,997)   (3,964)   (5,940)   (2,845)
Net income (loss)   (9,168)   (16,108)   (5,558)   (503)   (40,670)   (12,913)   (5,207)
Balance at December 31, 2023  $131,393   $78,599   $73,583   $283,739   $78,613   $112,605   $56,650 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-199

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Latte   Lennox   Lierly   Lily   Limestone   Litton   Longwoods 
                             
Balance at January 1, 2023   375,130    85,080    81,700    162,022    106,459    191,920    - 
Issuance of membership units, net of offering costs   (5,700)   -    -    (600)   (200)   (100)   296,948 
Deemed contribution from Manager   -    -    -    -    -    -    370 
Distributions   (12,417)   (6,780)   (8,416)   (5,531)   (4,524)   (9,420)   (6,106)
Net income (loss)   1,112    (12,583)   2,712    (10,132)   (25,061)   (6,999)   (9,881)
Balance at December 31, 2023  $358,125   $65,718   $75,997   $145,760   $76,674   $175,400   $281,331 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-200

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Lookout   Loretta   Louis   Louise   Lovejoy   Luna   Lurleen 
                             
Balance at January 1, 2023   343,336    696,340    -    104,866    93,689    68,442    (1,596)
Issuance of membership units, net of offering costs   (1,000)   (11,100)   299,924    -    -    -    136,159 
Deemed contribution from Manager   -    -    106    -    -    -    - 
Distributions   (11,209)   (17,825)   (6,159)   (7,146)   (5,515)   (5,834)   (7,990)
Net income (loss)   2,382    (4,476)   (5,396)   (3,689)   (15,596)   (17,548)   (15,526)
Balance at December 31, 2023  $333,510   $662,939   $288,474   $94,031   $72,578   $45,060   $111,046 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-201

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Madison   Mae   Magnolia   Malbec   Mammoth   Marcelo   Marie 
                             
Balance at January 1, 2023   105,115    374,107    79,416    113,333    111,366    299,825    (900)
Issuance of membership units, net of offering costs   -    (10,100)   (100)   -    -    (100)   341,482 
Deemed contribution from Manager   3,887    -    -    -    -    -    3,438 
Distributions   (3,539)   (16,325)   (3,477)   (9,099)   (3,513)   (14,860)   (14,072)
Net income (loss)   (17,166)   1,170    (5,975)   (12,772)   (27,818)   (1,801)   334 
Balance at December 31, 2023  $88,297   $348,853   $69,864   $91,461   $80,035   $283,064   $330,281 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-202

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Marietta   Marion   Marple   Martell   Mary   Matchingham   McGregor 
                             
Balance at January 1, 2023   170,915    -    -    -    -    76,536    298,839 
Issuance of membership units, net of offering costs   (3,000)   281,169    196,682    286,198    293,203    -    (2,900)
Deemed contribution from Manager   -    2,316    1,947    -    3,112    -    - 
Distributions   (7,088)   (3,043)   (4,895)   (3,408)   (6,668)   (6,502)   (12,117)
Net income (loss)   (16,367)   (14,649)   (8,623)   (19,607)   (6,990)   (7,090)   3,610 
Balance at December 31, 2023  $144,459   $265,793   $185,111   $263,183   $282,657   $62,943   $287,433 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-203

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   McLovin   Meadow   Mimosa   Mojave   Murphy   Mycroft   Nugget 
                             
Balance at January 1, 2023   161,841    111,898    125,096    76,249    101,077    -    555,985 
Issuance of membership units, net of offering costs   (400)   (100)   (3,510)   (700)   (100)   200,772    (5,200)
Deemed contribution from Manager   -    -    -    -    -    252    - 
Distributions   (9,007)   (4,453)   (7,195)   (6,539)   (7,832)   (4,996)   (18,825)
Net income (loss)   (12,407)   (10,045)   (3,570)   (2,340)   (8,400)   (6,390)   (4,505)
Balance at December 31, 2023  $140,027   $97,301   $110,821   $66,670   $84,745   $189,637   $527,454 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-204

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Odessa   Olive   Oly   Onyx   Oscar   Osceola   Osprey 
                             
Balance at January 1, 2023   150,309    111,685    168,914    -    -    -    359,692 
Issuance of membership units, net of offering costs   (100)   (600)   -    355,119    276,320    309,740    - 
Deemed contribution from Manager   -    -    -    467    1,208    7    - 
Distributions   (5,688)   (5,734)   (8,518)   (7,686)   (2,986)   (3,350)   (11,687)
Net income (loss)   (37,338)   (16,749)   (11,890)   (7,857)   (18,889)   (21,922)   (2,346)
Balance at December 31, 2023  $107,183   $88,603   $148,506   $340,043   $255,653   $284,474   $345,659 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-205

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Otoro   Palmer   Patrick   Peanut   Pearl   Pecan   Peterson 
                             
Balance at January 1, 2023   122,842    -    91,661    80,736    555,868    92,297    - 
Issuance of membership units, net of offering costs   (1,000)   320,984    -    (950)   (4,500)   -    251,214 
Deemed contribution from Manager   -    (263)   -    -    16,791    -    2,471 
Distributions   (4,091)   (3,472)   (5,315)   (4,028)   (21,500)   (8,446)   - 
Net income (loss)   (53,334)   (12,715)   2,297    (7,374)   (28,816)   2,304    (9,482)
Balance at December 31, 2023  $64,418   $304,533   $88,643   $68,384   $517,843   $86,154   $244,203 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-206

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Piedmont   Pinot   Pioneer   Plumtree   Point   Porthos   Quincy 
                             
Balance at January 1, 2023   219,551    111,561    574,168    91,278    130,572    -    553,575 
Issuance of membership units, net of offering costs   (100)   (100)   (2,500)   -    (1,500)   330,000    (15,300)
Deemed contribution from Manager   -    -    -    -    -    2,033    - 
Distributions   (5,928)   (9,166)   (15,647)   (10,228)   (6,330)   (8,220)   (16,191)
Net income (loss)   (11,382)   (4,365)   (3,937)   5,369    (8,566)   (6,600)   (18,776)
Balance at December 31, 2023  $202,141   $97,930   $552,083   $86,419   $114,176   $317,214   $503,308 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-207

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Redondo   Regency   Reginald   Reynolds   Ribbonwalk   Richardson   Richmond 
                             
Balance at January 1, 2023   180,868    (1,167)   426,237    436,550    90,883    328,483    - 
Issuance of membership units, net of offering costs   (300)   164,047    (1,400)   (300)   -    (500)   - 
Deemed contribution from Manager   -    -    -    -    -    -    2,682 
Distributions   (6,765)   (8,949)   (13,048)   (15,238)   (4,026)   (13,634)   - 
Net income (loss)   (17,407)   (2,582)   889    5,495    (7,085)   (434)   (8,836)
Balance at December 31, 2023  $156,396   $151,349   $412,678   $426,507   $79,773   $313,915   $(6,154)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-208

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Ridge   Ritter   River   Riverwalk   Rooney   Roseberry   Rosewood 
                             
Balance at January 1, 2023   83,550    506,679    100,942    402,648    107,342    109,042    83,715 
Issuance of membership units, net of offering costs   -    (300)   (500)   (8,400)   (200)   (100)   - 
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (4,576)   (11,609)   (8,131)   (11,738)   (4,685)   (6,872)   (3,260)
Net income (loss)   (8,753)   (25,916)   (9,266)   4,364    (7,410)   (3,749)   (4,408)
Balance at December 31, 2023  $70,221   $468,854   $83,045   $386,873   $95,046   $98,321   $76,048 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-209

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Roxy   Saddlebred   Saint   Sajni   Salem   Salinas   Saturn 
                             
Balance at January 1, 2023   101,734    143,605    120,330    -    109,633    -    76,128 
Issuance of membership units, net of offering costs   (400)   -    -    323,100    -    251,086    (600)
Deemed contribution from Manager   -    -    -    1,424    -    948    - 
Distributions   (3,727)   (5,341)   (7,243)   (12,607)   (8,253)   (8,425)   (3,000)
Net income (loss)   (7,974)   (16,931)   (3,584)   (8,128)   (6,758)   (30,883)   (7,498)
Balance at December 31, 2023  $89,633   $121,332   $109,504   $303,788   $94,622   $212,726   $65,030 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-210

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Scepter   Sequoyah   Shallowford   Shoreline   Sigma   Simon   Sims 
                             
Balance at January 1, 2023   83,236    146,901    200,450    97,216    122,373    -    - 
Issuance of membership units, net of offering costs   (1,100)   -    (300)   (100)   -    315,180    299,872 
Deemed contribution from Manager   -    -    -    -    -    2,221    1,053 
Distributions   (3,370)   (6,562)   (7,790)   (6,354)   (6,307)   (7,165)   (6,491)
Net income (loss)   (7,993)   (19,998)   (10,785)   (17,079)   (8,282)   (8,179)   (9,127)
Balance at December 31, 2023  $70,772   $120,340   $181,574   $73,683   $107,785   $302,058   $285,308 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-211

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Soapstone   Sodalis   Spencer   Splash   Spring   Stonebriar   Sugar 
                             
Balance at January 1, 2023   84,806    291,596    106,749    91,827    253,852    66,437    115,048 
Issuance of membership units, net of offering costs   -    (400)   -    -    (1,100)   -    (200)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (7,201)   (9,406)   (8,296)   (8,498)   (10,620)   (2,840)   (4,846)
Net income (loss)   2,740    (2,900)   (9,982)   (3,603)   1,566    (7,129)   (12,832)
Balance at December 31, 2023  $80,345   $278,889   $88,471   $79,726   $243,698   $56,469   $97,170 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-212

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Summerset   Sundance   Sunnyside   Swift   Taylor   Terracotta   Theodore 
                             
Balance at January 1, 2023   84,713    184,096    (900)   350,095    138,711    113,091    - 
Issuance of membership units, net of offering costs   (100)   (200)   243,594    (500)   (100)   -    313,394 
Deemed contribution from Manager   -    -    (556)   -    -    -    1,966 
Distributions   (3,033)   (7,395)   (10,542)   (13,428)   (4,142)   (6,981)   (3,392)
Net income (loss)   (10,855)   (16,355)   3,012    5,151    (20,915)   (9,329)   (11,999)
Balance at December 31, 2023  $70,725   $160,145   $234,608   $341,318   $113,555   $96,781   $299,969 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-213

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Tulip   Tuscan   Tuscarora   Tuxford   Vernon   Walton   Wave 
                             
Balance at January 1, 2023   97,441    131,864    (900)   78,935    82,726    290,069    99,105 
Issuance of membership units, net of offering costs   -    -    359,177    -    -    (2,100)   (3,500)
Deemed contribution from Manager   -    -    1,971    -    -    -    - 
Distributions   (4,485)   (8,391)   (11,682)   (4,219)   (4,528)   (8,983)   (2,118)
Net income (loss)   (25,792)   2,165    (4,819)   (10,409)   (11,481)   (22,948)   (36,176)
Balance at December 31, 2023  $67,164   $125,639   $343,747   $64,308   $66,717   $256,038   $57,312 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-214

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

   Weldon   Wellington   Wentworth   Wescott   Westchester   Wildwood   Willow 
                             
Balance at January 1, 2023   72,614    425,944    83,990    138,760    151,038    120,130    304,187 
Issuance of membership units, net of offering costs   -    (500)   (100)   (100)   (100)   (1,600)   (4,100)
Deemed contribution from Manager   -    -    -    -    -    -    - 
Distributions   (2,960)   (16,506)   (8,495)   (4,440)   (9,957)   (4,841)   (12,169)
Net income (loss)   (2,942)   (1,951)   (3,600)   (13,271)   (18,598)   (248)   1,696 
Balance at December 31, 2023  $66,712   $406,987   $71,795   $120,950   $122,383   $113,442   $289,615 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-215

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2023

 

  

   Wilson   Winchester   Windsor   Winston   Wisteria   Consolidated 
                         
Balance at January 1, 2023   400,541    -    124,688    351,670    102,274    39,057,501 
Issuance of membership units, net of offering costs   (5,820)   292,056    (100)   (450)   (400)   14,634,904 
Deemed contribution from Manager   -    185    -    -    -    87,627 
Distributions   (16,460)   -    (10,069)   (14,867)   (4,597)   (1,875,741)
Net income (loss)   941    (14,362)   (5,720)   (2,254)   (9,454)   (2,268,052)
Balance at December 31, 2023  $379,202   $277,879   $108,799   $334,099   $87,823   $49,636,238 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements. 

 

F-216

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

    100    101    Abbington    Abernant    Alvin    Amber    Apollo 
                                    
Cash Flows from Operating Activities:                                   
Net income (loss)  $(19,661)  $(984)  $9,419   $(1,605)  $6,844   $(6,653)  $(12,045)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   16,890    17,438    14,494    6,248    8,735    8,416    6,418 
Amortization   -    -    -    -    -    75    116 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (75)   (60)   (65)   (343)   (527)   (1,681)   (1,276)
Due from (to) third party property managers   14,649    5,572    (2,668)   (3,843)   57    1,642    4,442 
Increase (decrease) in liabilities                                   
Accrued expenses   (6,195)   (929)   36    68    2,807    (575)   (488)
Tenant Deposits   (3,745)   -    -    1,745    250    (893)   (399)
Due to (from) related parties   (9,369)   (23,429)   (3,717)   15,750    20,225    (2,721)   (1,640)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (7,505)   (2,393)   17,500    18,019    38,392    (2,390)   (4,872)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    (12,420)
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    (12,420)
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    17,900    -    -    -    6,900    20,000 
Repayments of amounts due to related party   -    -    -    (245,056)   (342,264)   -    - 
Net proceeds from the issuance of membership units   1,300    3,600    -    252,032    345,786    -    300 
Redemption of membership units   (1,300)   (3,600)   -    -    -    -    (300)
Distributions   (7,823)   (16,055)   (17,337)   (13,465)   (20,695)   (3,948)   (1,533)
Net cash provided by (used in) financing activities   (7,823)   1,845    (17,337)   (6,489)   (17,174)   2,952    18,467 
Net change in cash   (15,328)   (548)   163    11,530    21,218    563    1,176 
Cash at beginning of year   29,547    5,396    10,509    546    4,872    3,401    518 
Cash at end of year  $14,219   $4,848   $10,672   $12,076   $26,090   $3,964   $1,694 
                                    
Cash paid for income taxes  $3,076   $3,089   $2,609   $2,370   $2,230   $1,691   $1,221 
Cash paid for interest expenses  $-   $48   $-   $-   $-   $7,876   $7,848 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-217

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Aster   Augusta   Avebury   Avondale   Badminton   Ballinger   Bandelier 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(6,670)  $3,966   $(11,048)  $(4,823)  $(5,605)  $14   $(15,525)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   7,009    8,150    7,990    9,047    8,461    8,215    8,268 
Amortization   248    -    76    -    83    -    86 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (1,346)   (403)   (929)   (130)   (1,256)   (414)   (2,229)
Due from (to) third party property managers   3,193    2,604    5,148    2,315    (5,365)   (7,595)   5,162 
Increase (decrease) in liabilities                                   
Accrued expenses   (491)   (2,879)   (714)   (2,864)   (229)   2,988    (997)
Tenant Deposits   -    -    -    (200)   (798)   2,320    50 
Due to (from) related parties   (4,892)   3,218    (2,850)   (1,204)   (3,766)   (486)   87 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (2,949)   14,657    (2,328)   2,140    (8,474)   5,042    (5,097)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   9,700    -    5,400    -    17,300    -    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   100    -    500    -    -    -    - 
Redemption of membership units   (100)   -    (500)   -    -    -    - 
Distributions   (2,832)   (16,010)   (2,422)   (11,934)   (4,058)   (17,500)   (2,654)
Net cash provided by (used in) financing activities   6,868    (16,010)   2,978    (11,934)   13,242    (17,500)   (2,654)
Net change in cash   3,919    (1,353)   650    (9,794)   4,768    (12,458)   (7,751)
Cash at beginning of year   1,362    20,996    2,956    16,728    317    25,175    14,176 
Cash at end of year  $5,281   $19,643   $3,606   $6,934   $5,085   $12,717   $6,425 
                                    
Cash paid for income taxes  $1,816   $3,581   $1,877   $3,930   $7,502   $1,824   $3,018 
Cash paid for interest expenses  $8,721   $-   $7,957   $-   $8,187   $-   $9,577 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-218

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Baron   Basil   Bayside   Bazzel   Bedford   Bella   Belle 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(11,962)  $126   $(7,194)  $(2,399)  $(28,695)  $(1,339)  $(535)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   16,005    5,569    7,050    7,527    7,695    8,412    12,084 
Amortization   -    69    80    -    14    -    - 
Credit loss expense (recovery)   -    (960)   -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (244)   (887)   (1,183)   (156)   (1,854)   (424)   (164)
Due from (to) third party property managers   6,887    28    3,737    (10,221)   16,235    (5,157)   (700)
Increase (decrease) in liabilities                                   
Accrued expenses   (773)   (439)   (1,156)   690    (1,919)   (3,269)   (1,398)
Tenant Deposits   450    100    -    50    (2,295)   1,945    154 
Due to (from) related parties   (1,451)   (2,427)   (2,235)   (18,734)   4,521    6,888    (20,115)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   8,912    1,179    (902)   (23,243)   (6,298)   7,056    (10,674)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    9,700    10,000    21,700    -    -    23,600 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   540    -    100    500    -    -    - 
Redemption of membership units   (540)   -    (100)   (500)   -    -    - 
Distributions   (13,136)   (4,963)   (5,301)   (7,168)   (2,492)   (14,292)   (11,633)
Net cash provided by (used in) financing activities   (13,136)   4,737    4,699    14,532    (2,492)   (14,292)   11,967 
Net change in cash   (4,224)   5,916    3,797    (8,711)   (8,790)   (7,236)   1,292 
Cash at beginning of year   18,044    1,067    1,125    16,160    12,611    13,396    5,101 
Cash at end of year  $13,820   $6,984   $4,921   $7,449   $3,820   $6,160   $6,393 
                                    
Cash paid for income taxes  $6,664   $2,810   $8,803   $5,250   $7,727   $5,080   $5,677 
Cash paid for interest expenses  $-   $6,183   $7,773   $59   $7,609   $-   $64 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-219

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Belvedere   Bergenia   Blossom   Bonneau   Brainerd   Braxton   Brennan 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $6,610   $4,936   $(15,036)  $(495)  $(575)  $(1,698)  $(19,210)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   8,103    7,963    6,990    10,275    7,997    8,903    6,230 
Amortization   -    -    -    -    725    -    130 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (212)   (58)   4    (297)   (44)   (18)   (1,374)
Due from (to) third party property managers   5,193    2,588    (2,034)   4,939    4,009    3,801    (870)
Increase (decrease) in liabilities                                   
Accrued expenses   (2,977)   (2,741)   (2,359)   (2,475)   (1,114)   (3,308)   612 
Tenant Deposits   -    250    -    -    -    -    (449)
Due to (from) related parties   (2,262)   (15)   (3,204)   (5,115)   14,288    (6,702)   (15,363)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   14,455    12,923    (15,639)   6,830    25,285    978    (30,294)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    7,400    -    -    10,700    35,200 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    -    2,100    -    -    - 
Redemption of membership units   -    -    -    (2,100)   -    -    - 
Distributions   (18,360)   (14,394)   (9,658)   (11,151)   (11,109)   (16,257)   (2,213)
Net cash provided by (used in) financing activities   (18,360)   (14,394)   (2,258)   (11,151)   (11,109)   (5,557)   32,987 
Net change in cash   (3,905)   (1,472)   (17,897)   (4,322)   14,176    (4,578)   2,693 
Cash at beginning of year   20,507    16,933    24,959    10,093    3,743    10,873    1,356 
Cash at end of year  $16,602   $15,462   $7,063   $5,771   $17,919   $6,295   $4,049 
                                    
Cash paid for income taxes  $3,553   $1,628   $2,114   $8,381   $2,518   $3,598   $1,634 
Cash paid for interest expenses  $-   $-   $20   $-   $10,073   $29   $9,085 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-220

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Briarwood   Brooklyn   Burlington   Butter   Calvin   Camino   Cawley 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $4,335   $(3,122)  $(17,894)  $(19,822)  $4,352   $(4,996)  $6,112 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   5,733    5,814    17,832    10,379    6,491    7,289    8,624 
Amortization   -    415    -    88    -    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (349)   (42)   (83)   (2,572)   (265)   (23)   (469)
Due from (to) third party property managers   (3,508)   1,584    7,775    8,220    725    5,482    4,731 
Increase (decrease) in liabilities                                   
Accrued expenses   1,243    (574)   (1,983)   (880)   2,168    (2,020)   (2,665)
Tenant Deposits   1,995    -    (200)   -    -    (399)   - 
Due to (from) related parties   499    (8,762)   (5,181)   (8,957)   433    (3,959)   (1,953)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   9,948    (4,686)   266    (13,544)   13,905    1,374    14,379 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    13,100    -    24,200    -    -    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    1,000    100    -    2,200    - 
Redemption of membership units   -    -    (1,000)   (100)   -    (2,200)   - 
Distributions   (15,063)   (4,286)   (7,733)   (4,999)   (16,447)   (10,265)   (18,689)
Net cash provided by (used in) financing activities   (15,063)   8,814    (7,733)   19,201    (16,447)   (10,265)   (18,689)
Net change in cash   (5,115)   4,128    (7,467)   5,657    (2,542)   (8,891)   (4,310)
Cash at beginning of year   21,004    171    12,564    222    22,562    16,603    21,791 
Cash at end of year  $15,889   $4,299   $5,097   $5,879   $20,020   $7,713   $17,482 
                                    
Cash paid for income taxes  $203   $1,251   $6,243   $6,344   $3,105   $1,943   $3,696 
Cash paid for interest expenses  $-   $5,801   $-   $10,323   $-   $-   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-221

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Centennial   Chaparral   Chelsea   Chester   Chickamauga   Chinook   Chitwood 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $56,841   $(736)  $(4,424)  $(12,490)  $6,088   $2,214   $3,762 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   5,875    5,399    8,468    10,190    10,258    9,903    10,510 
Amortization   6,214    158    79    335    -    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   (80,846)   -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (99)   (80)   (939)   (2,405)   (102)   (537)   (77)
Due from (to) third party property managers   6,355    (1,757)   4,138    2,706    (1,218)   (2,940)   4,179 
Increase (decrease) in liabilities                                   
Accrued expenses   (2,636)   (559)   (1,066)   (859)   (3,249)   (2,731)   (1,987)
Tenant Deposits   (1,895)   (1,305)   -    1,498    1,148    (100)   - 
Due to (from) related parties   4,540    (2,992)   6,626    12,475    (2,460)   3,759    2,908 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (5,650)   (1,872)   12,881    11,448    10,465    9,569    19,296 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   141,522    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   141,522    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    -    -    -    5,200    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   (118,300)   -    500    400    -    -    500 
Redemption of membership units   -    -    (500)   (400)   -    -    (500)
Distributions   (26,659)   (7,210)   (6,922)   (5,657)   (19,979)   (15,300)   (17,727)
Net cash provided by (used in) financing activities   (144,959)   (7,210)   (6,922)   (5,657)   (19,979)   (10,100)   (17,727)
Net change in cash   (9,087)   (9,082)   5,959    5,791    (9,513)   (531)   1,569 
Cash at beginning of year   9,087    18,793    2,782    4,291    28,234    7,395    12,399 
Cash at end of year  $-   $9,712   $8,741   $10,082   $18,721   $6,864   $13,968 
                                    
Cash paid for income taxes  $1,998   $2,084   $2,175   $3,281   $2,798   $3,599   $4,777 
Cash paid for interest expenses  $14,115   $4,400   $8,429   $12,658   $-   $14   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $3,523   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-222

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Clover   Coatbridge   Collier   Collinston   Conway   Cove   Creekside 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(5,725)  $(12,499)  $5,802   $(23,040)  $(5,943)  $(30,562)  $5,243 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   8,793    9,052    9,757    5,811    18,876    5,780    8,539 
Amortization   -    84    -    59    -    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (143)   (1,162)   (92)   (1,191)   (51)   (127)   6 
Due from (to) third party property managers   5,207    (1,220)   4,547    3,640    5,342    (478)   3,560 
Increase (decrease) in liabilities                                   
Accrued expenses   (2,427)   (825)   (1,199)   443    299    (3,063)   (2,117)
Tenant Deposits   100    (2,993)   -    (399)   395    100    - 
Due to (from) related parties   (1,733)   (8,892)   (13,735)   (13,524)   (12,177)   (499)   (2,443)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   4,072    (18,455)   5,080    (28,200)   6,741    (28,849)   12,787 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    25,400    -    29,400    11,800    18,700    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   200    -    300    -    600    -    1,500 
Redemption of membership units   (200)   -    (300)   -    (600)   -    (1,500)
Distributions   (12,647)   (2,801)   (13,724)   (848)   (15,845)   (1,971)   (16,501)
Net cash provided by (used in) financing activities   (12,647)   22,599    (13,724)   28,552    (4,045)   16,729    (16,501)
Net change in cash   (8,575)   4,144    (8,644)   352    2,696    (12,120)   (3,714)
Cash at beginning of year   12,229    223    13,986    650    4,086    14,802    14,662 
Cash at end of year  $3,654   $4,367   $5,342   $1,002   $6,782   $2,682   $10,948 
                                    
Cash paid for income taxes  $3,695   $8,259   $870   $2,173   $3,936   $2,917   $3,251 
Cash paid for interest expenses  $-   $8,269   $-   $5,428   $32   $79   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-223

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Creekwood   Cumberland   Cupcake   Cypress   Daisy   Davidson   Dawson 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(6,134)  $(3,942)  $(2,751)  $(11,869)  $(1,264)  $(10,635)  $(10,298)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   7,944    8,118    6,550    10,025    8,276    5,818    7,235 
Amortization   274    -    69    267    -    62    74 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (1,671)   (63)   (1,204)   (4,337)   (26)   (1,191)   (1,057)
Due from (to) third party property managers   1,433    2,655    (49)   (89)   3,635    (2,700)   3,996 
Increase (decrease) in liabilities                                   
Accrued expenses   (779)   (1,160)   (1,351)   (1,787)   (1,806)   (479)   (480)
Tenant Deposits   -    450    -    -    -    (311)   - 
Due to (from) related parties   11,627    (4,021)   3,340    (4,128)   (7,861)   (4,473)   (16,228)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   12,693    2,038    4,604    (11,917)   954    (13,910)   (16,760)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    -    -    -    14,600    23,900 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    2,100    -    -    2,600    -    - 
Redemption of membership units   -    (2,100)   -    -    (2,600)   -    - 
Distributions   (4,193)   (13,412)   (8,625)   (4,552)   (13,115)   (1,932)   (3,333)
Net cash provided by (used in) financing activities   (4,193)   (13,412)   (8,625)   (4,552)   (13,115)   12,668    20,567 
Net change in cash   8,499    (11,374)   (4,021)   (16,469)   (12,161)   (1,242)   3,807 
Cash at beginning of year   901    21,941    12,632    20,606    18,365    2,931    - 
Cash at end of year  $9,400   $10,567   $8,611   $4,137   $6,204   $1,690   $3,807 
                                    
Cash paid for income taxes  $2,761   $2,252   $2,383   $4,285   $2,219   $2,234   $5,949 
Cash paid for interest expenses  $9,863   $-   $5,998   $12,358   $-   $5,798   $6,903 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-224

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Delta   Dewberry   Diablo   Dogwood   Dolittle   Dolly   Dops 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(44,466)  $(16,496)  $(7,557)  $(4,096)  $(11,119)  $(4,424)  $483 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   10,492    5,225    7,141    6,623    8,443    18,951    5,617 
Amortization   82    65    77    -    77    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (1,988)   (1,347)   (2,003)   (50)   (1,755)   (56)   (21)
Due from (to) third party property managers   (13,888)   6,809    3,846    10,002    9,378    8,511    5,764 
Increase (decrease) in liabilities                                   
Accrued expenses   295    (830)   (16)   (881)   (1,284)   192    (2,852)
Tenant Deposits   2,195    (3,090)   -    (493)   (1,148)   (2,395)   (598)
Due to (from) related parties   (37,873)   (4,756)   (23,493)   (1,745)   (854)   (8,816)   (1,636)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (85,151)   (14,420)   (22,006)   9,360    1,738    11,963    6,758 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   (8,400)   -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   (8,400)   -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   95,700    18,500    28,300    -    6,300    -    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    -    -    -    350    - 
Redemption of membership units   -    -    -    -    -    (350)   - 
Distributions   (623)   (2,373)   (3,107)   (11,168)   (3,757)   (17,153)   (10,227)
Net cash provided by (used in) financing activities   95,077    16,127    25,193    (11,168)   2,543    (17,153)   (10,227)
Net change in cash   1,527    1,707    3,188    (1,808)   4,282    (5,189)   (3,469)
Cash at beginning of year   1,789    -    1,951    10,714    941    12,293    9,336 
Cash at end of year  $3,316   $1,707   $5,138   $8,906   $5,223   $7,104   $5,867 
                                    
Cash paid for income taxes  $4,802   $5,562   $2,795   $1,303   $7,803   $3,534   $1,425 
Cash paid for interest expenses  $9,129   $5,722   $8,210   $-   $8,138   $-   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-225

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Dorchester   Dunbar   Eagle   Eastfair   Eastwood   Elevation   Ella 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(7,635)  $(15,230)  $(2,101)  $(8,977)  $(13,312)  $(36,240)  $1,740 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   9,454    11,622    7,891    5,912    8,757    10,113    7,174 
Amortization   -    -    115    75    -    68    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (325)   (397)   (1,490)   (1,781)   (508)   (1,210)   (49)
Due from (to) third party property managers   6,724    (2,962)   (2,514)   (5,730)   (1,901)   (905)   4,430 
Increase (decrease) in liabilities                                   
Accrued expenses   (1,746)   (1,367)   (1,637)   (1,018)   2,420    (443)   (2,087)
Tenant Deposits   -    (501)   -    (1,641)   100    (2,095)   200 
Due to (from) related parties   (934)   (29,412)   13,721    (118)   (1,758)   (21,637)   (7,459)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   5,538    (38,247)   13,985    (13,278)   (6,203)   (52,349)   3,949 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    41,000    -    17,500    -    55,100    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   500    200    1,000    100    -    100    100 
Redemption of membership units   (500)   (200)   (1,000)   (100)   -    (100)   (100)
Distributions   (9,172)   (3,157)   (9,870)   (3,497)   (8,688)   (1,696)   (11,488)
Net cash provided by (used in) financing activities   (9,172)   37,843    (9,870)   14,003    (8,688)   53,404    (11,488)
Net change in cash   (3,634)   (403)   4,116    725    (14,891)   1,055    (7,539)
Cash at beginning of year   9,281    829    8,998    3,306    27,058    554    16,261 
Cash at end of year  $5,646   $426   $13,114   $4,031   $12,167   $1,609   $8,722 
                                    
Cash paid for income taxes  $9,730   $1,627   $1,482   $10,552   $1,905   $5,036   $2,171 
Cash paid for interest expenses  $-   $111   $9,059   $7,057   $-   $8,184   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-226

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Ellen   Elm   Emporia   Ensenada   Falcon   Felix   Fenwick 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $10,157   $(2,489)  $(8,294)  $(33,627)  $(5,070)  $1,278   $(5,508)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   6,807    4,600    9,666    13,332    7,907    8,201    8,240 
Amortization   -    52    86    123    115    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (384)   (1,060)   (2,146)   (3,606)   (1,490)   (288)   (434)
Due from (to) third party property managers   (578)   (3,732)   1,458    6,557    (1,914)   4,953    4,439 
Increase (decrease) in liabilities                                   
Accrued expenses   (881)   (29)   (745)   (4,594)   (2,177)   (3,731)   (3,609)
Tenant Deposits   -    -    -    (100)   395    -    (245)
Due to (from) related parties   3,939    (3,462)   (5,340)   49    5,626    (6,188)   (4,850)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   19,061    (6,122)   (5,314)   (21,866)   3,392    4,224    (1,966)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    12,400    15,700    10,700    -    -    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    -    -    600    -    - 
Redemption of membership units   -    -    -    -    (600)   -    - 
Distributions   (15,216)   (3,834)   (5,532)   (2,380)   (7,821)   (13,644)   (11,642)
Net cash provided by (used in) financing activities   (15,216)   8,566    10,168    8,320    (7,821)   (13,644)   (11,642)
Net change in cash   3,845    2,444    4,854    (13,546)   (4,430)   (9,420)   (13,608)
Cash at beginning of year   18,340    1,155    333    19,001    13,791    16,615    20,374 
Cash at end of year  $22,186   $3,599   $5,187   $5,455   $9,362   $7,195   $6,766 
                                    
Cash paid for income taxes  $1,429   $3,587   $5,233   $5,320   $1,472   $2,314   $3,057 
Cash paid for interest expenses  $-   $5,046   $9,623   $15,342   $9,059   $-   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-227

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Fletcher   Folly   Forest   Foster   Franklin   Gardens   General 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $7,704   $(2,244)  $(17,551)  $6,141   $(369)  $(4,760)  $7,767 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   4,824    10,253    12,141    8,614    9,246    7,172    8,684 
Amortization   -    -    82    -    -    59    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    4,304    - 
Prepaid expenses   (150)   (128)   (2,007)   (83)   (461)   (42)   (402)
Due from (to) third party property managers   735    4,594    (15,030)   4,639    605    (948)   (4,576)
Increase (decrease) in liabilities                                   
Accrued expenses   (208)   (1,973)   962    (3,158)   1,399    (578)   (2,391)
Tenant Deposits   -    -    (150)   -    500    (274)   - 
Due to (from) related parties   (3,470)   (10,576)   (30,437)   (2,050)   3,952    (9,800)   3,264 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   9,435    (75)   (51,990)   14,102    14,872    (4,867)   12,347 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    6,600    60,400    -    -    11,000    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    400    -    -    -    -    - 
Redemption of membership units   -    (400)   -    -    -    -    - 
Distributions   (12,325)   (9,345)   (2,613)   (20,937)   (15,435)   (4,929)   (18,989)
Net cash provided by (used in) financing activities   (12,325)   (2,745)   57,787    (20,937)   (15,435)   6,071    (18,989)
Net change in cash   (2,891)   (2,820)   5,797    (6,835)   (563)   1,204    (6,642)
Cash at beginning of year   19,609    9,718    972    29,623    12,417    2,979    16,134 
Cash at end of year  $16,718   $6,899   $6,769   $22,788   $11,854   $4,183   $9,492 
                                    
Cash paid for income taxes  $49   $7,414   $5,421   $4,842   $3,380   $816   $4,888 
Cash paid for interest expenses  $-   $18   $10,767   $-   $-   $6,573   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-228

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Goose   Grant   Greenhill   Gretal   Grove   Hadden   Hansard 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(1,905)  $(3,634)  $(5,479)  $5,065   $(13,754)  $(7,535)  $8,085 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   7,356    8,902    8,969    12,411    8,803    6,053    8,339 
Amortization   109    90    82    -    64    61    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (1,397)   (2,233)   (1,990)   (71)   (1,525)   (1,293)   (242)
Due from (to) third party property managers   (647)   7,386    8,839    4,702    3,289    7,810    4,152 
Increase (decrease) in liabilities                                   
Accrued expenses   (1,568)   (790)   (1,029)   (1,377)   (497)   (1,608)   (3,002)
Tenant Deposits   (55)   -    -    -    -    -    - 
Due to (from) related parties   5,608    (2,000)   1,186    (3,769)   (4,541)   (1,501)   (1,627)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   7,501    7,721    10,578    16,961    (8,160)   1,987    15,706 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    -    -    11,100    -    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   250    -    -    -    (76)   500    100 
Redemption of membership units   (250)   -    -    -    -    (500)   (100)
Distributions   (8,771)   (7,893)   (6,498)   (20,350)   (1,297)   (4,452)   (19,822)
Net cash provided by (used in) financing activities   (8,771)   (7,893)   (6,498)   (20,350)   9,728    (4,452)   (19,822)
Net change in cash   (1,270)   (173)   4,081    (3,389)   1,567    (2,465)   (4,116)
Cash at beginning of year   12,548    7,131    1,823    21,406    436    6,140    23,034 
Cash at end of year  $11,278   $6,958   $5,904   $18,017   $2,003   $3,675   $18,918 
                                    
Cash paid for income taxes  $2,672   $4,362   $8,136   $1,985   $3,000   $4,291   $2,516 
Cash paid for interest expenses  $8,440   $10,126   $8,909   $-   $7,576   $5,622   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-229

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Hansel   Hargrave   Harrison   Henry   Heritage   Heron   Highland 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(20,608)  $(11,728)  $(8,420)  $(26,122)  $(10,155)  $(14,874)  $3,276 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   11,127    6,423    12,591    11,823    9,012    8,948    7,884 
Amortization   160    -    401    -    76    74    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (2,588)   (265)   (2,558)   (214)   (1,760)   (1,870)   (163)
Due from (to) third party property managers   3,269    (3,489)   6,164    (139)   89    8,164    6,511 
Increase (decrease) in liabilities                                   
Accrued expenses   (1,710)   2,045    (884)   1,121    (911)   (961)   (2,079)
Tenant Deposits   908    3,190    (100)   (55)   -    -    (2,843)
Due to (from) related parties   (11,287)   19,963    9,872    (27,173)   (29,298)   914    (5,631)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (20,729)   16,139    17,066    (40,758)   (32,947)   395    6,956 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   16,200    -    -    49,500    19,300    7,100    - 
Repayments of amounts due to related party   -    (253,390)   -    -    -    -    - 
Net proceeds from the issuance of membership units   -    259,629    1,950    1,400    -    -    500 
Redemption of membership units   -    -    (1,950)   (1,400)   -    -    (500)
Distributions   (3,793)   (10,393)   (9,225)   (6,349)   (2,899)   (1,714)   (9,854)
Net cash provided by (used in) financing activities   12,407    (4,154)   (9,225)   43,151    16,401    5,386    (9,854)
Net change in cash   (8,322)   11,985    7,841    2,393    (16,546)   5,781    (2,898)
Cash at beginning of year   12,324    461    6,309    2,683    23,848    330    8,230 
Cash at end of year  $4,001   $12,446   $14,150   $5,077   $7,302   $6,112   $5,332 
                                    
Cash paid for income taxes  $1,400   $3,429   $1,836   $6,104   $4,096   $5,023   $4,468 
Cash paid for interest expenses  $13,586   $-   $15,639   $340   $9,770   $9,636   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-230

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Hines   Hobbes   Holcomb   Holland   Hollandaise   Holloway   Inglewood 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(8,806)  $(8,682)  $(647)  $(4,175)  $(27,167)  $(7,790)  $(2,970)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   8,810    6,432    9,754    5,818    10,056    9,344    18,721 
Amortization   -    -    -    62    89    99    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (22)   (265)   (463)   (1,191)   (2,361)   (1,610)   (76)
Due from (to) third party property managers   3,750    (4,272)   (256)   3,036    8,005    6,811    7,343 
Increase (decrease) in liabilities                                   
Accrued expenses   (1,565)   2,346    (924)   (469)   (867)   (1,250)   (1,370)
Tenant Deposits   -    2,393    -    -    (400)   -    (200)
Due to (from) related parties   (3,338)   2,118    (10,128)   2,087    1,436    (2,542)   (5,267)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (1,170)   69    (2,664)   5,168    (11,208)   3,061    16,180 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    -    -    13,200    9,900    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   500    -    -    -    400    -    1,050 
Redemption of membership units   (500)   -    -    -    (400)   -    (1,050)
Distributions   (5,541)   (11,549)   (14,591)   (2,678)   (3,840)   (6,713)   (18,828)
Net cash provided by (used in) financing activities   (5,541)   (11,549)   (14,591)   (2,678)   9,360    3,187    (18,828)
Net change in cash   (6,712)   (11,481)   (17,255)   2,490    (1,849)   6,248    (2,648)
Cash at beginning of year   6,818    22,214    30,016    350    5,398    38    12,751 
Cash at end of year  $106   $10,734   $12,761   $2,840   $3,549   $6,286   $10,103 
                                    
Cash paid for income taxes  $2,015   $1,913   $6,211   $2,256   $1,786   $8,463   $4,058 
Cash paid for interest expenses  $-   $-   $-   $5,758   $10,025   $10,347   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-231

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Irene   Jack   Jake   Jefferson   Jill   Johnny   June 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $8,021   $(22,768)  $(16,373)  $10,280   $(9,306)  $(5,148)  $(13,968)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   4,824    12,754    16,186    7,555    10,983    16,094    16,094 
Amortization   -    97    -    -    358    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (277)   (2,636)   (84)   (112)   (2,582)   (72)   (72)
Due from (to) third party property managers   (1,914)   5,646    289    4,115    4,443    8,047    10,231 
Increase (decrease) in liabilities                                   
Accrued expenses   799    (1,222)   (2,902)   (2,818)   (1,412)   (1,776)   (2,131)
Tenant Deposits   -    148    100    -    -    (800)   (600)
Due to (from) related parties   (1,790)   (3,552)   (3,969)   (515)   9,019    (50,628)   (21,133)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   9,663    (11,533)   (6,753)   18,504    11,504    (34,283)   (11,579)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    9,600    14,800    -    -    19,200    9,300 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    1,000    -    -    2,000    500 
Redemption of membership units   -    -    (1,000)   -    -    (2,000)   (500)
Distributions   (13,936)   (2,055)   (8,735)   (18,822)   (8,420)   (10,862)   (5,841)
Net cash provided by (used in) financing activities   (13,936)   7,545    6,065    (18,822)   (8,420)   8,338    3,459 
Net change in cash   (4,273)   (3,989)   (688)   (318)   3,084    (25,945)   (8,120)
Cash at beginning of year   22,155    5,559    6,324    17,923    4,740    33,784    13,071 
Cash at end of year  $17,882   $1,571   $5,636   $17,605   $7,824   $7,839   $4,951 
                                    
Cash paid for income taxes  $14   $1,697   $7,518   $1,723   $1,418   $3,230   $3,230 
Cash paid for interest expenses  $-   $12,795   $40   $-   $13,696   $52   $25 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-232

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Jupiter   Kawana   Kennesaw   Kenny   KerriAnn   Kessler   Kingsley 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(7,101)  $(4,371)  $(5,254)  $(18,363)  $(24,022)  $(16,481)  $(12,919)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   5,811    7,572    11,673    18,951    9,371    8,212    8,580 
Amortization   60    73    -    -    88    221    96 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (1,213)   (1,725)   (159)   (67)   (1,958)   (1,357)   (246)
Due from (to) third party property managers   5,408    4,846    2,499    5,998    1,786    6,391    6,968 
Increase (decrease) in liabilities                                   
Accrued expenses   (260)   (649)   (1,425)   (51)   (532)   628    (1,083)
Tenant Deposits   (319)   -    100    250    (374)   (1,595)   - 
Due to (from) related parties   (3,861)   7,068    (13,427)   (5,725)   (13,996)   6,533    (4,826)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (1,475)   12,813    (5,993)   993    (29,636)   2,552    (3,429)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   6,900    -    -    -    23,600    -    15,600 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    1,100    2,850    2,500    100    - 
Redemption of membership units   -    -    (1,100)   (2,850)   (2,500)   (100)   - 
Distributions   (2,636)   (6,004)   (11,882)   (9,491)   (2,120)   (1,741)   (4,190)
Net cash provided by (used in) financing activities   4,264    (6,004)   (11,882)   (9,491)   21,480    (1,741)   11,410 
Net change in cash   2,789    6,810    (17,875)   (8,499)   (8,157)   812    7,981 
Cash at beginning of year   4,172    2,520    28,570    15,768    10,143    1,471    - 
Cash at end of year  $6,961   $9,329   $10,695   $7,269   $1,987   $2,283   $7,981 
                                    
Cash paid for income taxes  $2,313   $1,501   $4,817   $3,862   $3,131   $1,568   $10,784 
Cash paid for interest expenses  $6,542   $7,532   $-   $-   $9,374   $8,734   $10,082 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-233

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Kirkwood   Korin   Lallie   Lanier   Lannister   Latte   Lennox 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(5,989)  $6,709   $(21,796)  $(17,189)  $(16,549)  $(5,583)  $(9,117)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   7,538    7,646    12,405    11,412    6,054    10,022    5,956 
Amortization   71    -    105    91    102    -    72 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (1,649)   (47)   (3,003)   (2,205)   (1,117)   (213)   (948)
Due from (to) third party property managers   406    3,904    (6,756)   (204)   2,855    12,490    1,474 
Increase (decrease) in liabilities                                   
Accrued expenses   (732)   (2,233)   318    (1,153)   (263)   (2,431)   (986)
Tenant Deposits   -    -    2,295    (2,295)   (548)   (3,293)   100 
Due to (from) related parties   (1,312)   (4,917)   (33,892)   (658)   (7,117)   (636)   (2,188)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (1,669)   11,061    (50,324)   (12,200)   (16,583)   10,357    (5,638)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   (7,069)   -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   (7,069)   -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   9,700    -    57,200    11,800    18,700    -    9,700 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    -    -    -    -    - 
Redemption of membership units   -    -    -    -    -    -    - 
Distributions   (3,178)   (17,601)   (1,490)   (3,250)   (1,410)   (11,554)   (4,619)
Net cash provided by (used in) financing activities   6,522    (17,601)   55,710    8,550    17,290    (11,554)   5,081 
Net change in cash   (2,216)   (6,540)   5,386    (3,650)   707    (1,197)   (557)
Cash at beginning of year   3,527    21,973    515    10,134    797    9,117    4,237 
Cash at end of year  $1,311   $15,433   $5,901   $6,484   $1,504   $7,920   $3,680 
                                    
Cash paid for income taxes  $1,691   $3,463   $9,364   $3,663   $1,290   $5,240   $5,235 
Cash paid for interest expenses  $8,742   $-   $11,383   $12,658   $7,227   $-   $6,561 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-234

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Lierly   Lily   Limestone   Litton   Longwoods   Lookout   Loretta 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(559)  $(14,582)  $(25,317)  $(11,725)  $(994)  $2,091   $(1,607)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   5,864    14,986    8,046    8,826    7,404    9,483    18,861 
Amortization   192    103    76    800    -    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (119)   (3,586)   (1,805)   (104)   (723)   (50)   (61)
Due from (to) third party property managers   (949)   4,573    (5,615)   4,323    2,002    6,671    8,923 
Increase (decrease) in liabilities                                   
Accrued expenses   (1,142)   (1,936)   779    207    (1,857)   (1,123)   (2,272)
Tenant Deposits   -    -    (1,198)   100    -    100    (3,445)
Due to (from) related parties   (2,961)   (58,060)   9,982    10,780    (259)   (879)   (9,226)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   326    (58,503)   (15,052)   13,207    5,572    16,294    11,173 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    64,000    21,400    -    -    -    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    -    100    -    200    8,700 
Redemption of membership units   -    -    -    (100)   -    (200)   (8,700)
Distributions   (9,154)   (3,391)   (2,180)   (9,117)   (14,201)   (13,351)   (14,953)
Net cash provided by (used in) financing activities   (9,154)   60,609    19,220    (9,117)   (14,201)   (13,351)   (14,953)
Net change in cash   (8,827)   2,106    4,169    4,090    (8,629)   2,943    (3,780)
Cash at beginning of year   21,077    5,397    1,897    9,012    21,591    9,326    10,811 
Cash at end of year  $12,250   $7,504   $6,065   $13,102   $12,962   $12,269   $7,031 
                                    
Cash paid for income taxes  $2,625   $3,244   $7,436   $939   $5,295   $1,309   $3,936 
Cash paid for interest expenses  $5,524   $12,347   $8,000   $11,112   $-   $-   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-235

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Louis   Louise   Lovejoy   Luna   Lurleen   Madison   Mae 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $6,452   $(8,078)  $(5,082)  $(10,065)  $(4,982)  $(2,668)  $(606)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   7,401    7,578    8,089    5,912    6,190    5,655    9,728 
Amortization   -    71    76    75    550    93    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (324)   (1,600)   (1,752)   (1,005)   (273)   (1,360)   (194)
Due from (to) third party property managers   1,997    4,750    (892)   (5,597)   (5,170)   (5,601)   10,186 
Increase (decrease) in liabilities                                   
Accrued expenses   (2,044)   (1,314)   (575)   (768)   (1,148)   (615)   (2,259)
Tenant Deposits   -    (474)   -    145    -    725    - 
Due to (from) related parties   (2,050)   816    (2,784)   (2,183)   5,686    (6,356)   (3,996)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   11,432    1,749    (2,919)   (13,487)   852    (10,127)   12,860 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    12,300    17,800    7,100    15,900    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    500    -    -    -    400 
Redemption of membership units   -    -    (500)   -    -    -    (400)
Distributions   (16,431)   (5,068)   (5,688)   (2,908)   (6,269)   (2,953)   (15,872)
Net cash provided by (used in) financing activities   (16,431)   (5,068)   6,612    14,892    831    12,947    (15,872)
Net change in cash   (4,998)   (3,319)   3,692    1,405    1,683    2,820    (3,012)
Cash at beginning of year   23,129    7,859    977    2,813    109    2,797    13,420 
Cash at end of year  $18,130   $4,541   $4,669   $4,217   $1,792   $5,617   $10,408 
                                    
Cash paid for income taxes  $2,935   $1,886   $4,189   $6,321   $2,514   $1,372   $7,709 
Cash paid for interest expenses  $-   $8,033   $8,057   $7,061   $8,900   $6,286   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-236

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Magnolia   Malbec   Mammoth   Marcelo   Marie   Marietta   Marion 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(17,856)  $367   $(37,129)  $3,247   $13,300   $(19,973)  $(1,663)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   8,308    8,776    9,371    7,822    8,794    8,316    9,039 
Amortization   142    134    84    -    -    284    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (1,524)   (1,919)   (2,476)   (42)   (178)   (1,993)   (927)
Due from (to) third party property managers   (418)   (8,046)   (10,555)   3,322    4,971    (2,695)   817 
Increase (decrease) in liabilities                                   
Accrued expenses   (797)   (1,302)   390    (2,327)   (4,357)   (1,525)   (4,930)
Tenant Deposits   1,495    100    -    -    -    100    500 
Due to (from) related parties   (29,347)   596    (5,620)   (4,891)   (554)   3,603    (2,546)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (39,997)   (1,293)   (45,935)   7,131    21,977    (13,882)   291 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    (5,564)
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    (5,564)
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   23,800    -    44,300    -    -    18,900    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   1,000    100    -    -    -    -    - 
Redemption of membership units   (1,000)   (100)   -    -    -    -    - 
Distributions   (1,601)   (6,477)   (864)   (14,960)   (23,434)   (1,612)   (12,410)
Net cash provided by (used in) financing activities   22,199    (6,477)   43,436    (14,960)   (23,434)   17,288    (12,410)
Net change in cash   (17,799)   (7,770)   (2,498)   (7,829)   (1,457)   3,406    (17,683)
Cash at beginning of year   24,684    13,690    5,883    15,306    22,860    1,099    21,583 
Cash at end of year  $6,885   $5,920   $3,385   $7,477   $21,404   $4,505   $3,900 
                                    
Cash paid for income taxes  $2,879   $3,252   $5,163   $2,976   $995   $5,763   $2,954 
Cash paid for interest expenses  $10,050   $9,781   $11,509   $-   $-   $10,413   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-237

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Marple   Martell   Mary   Matchingham   McGregor   McLovin   Meadow 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(6,939)  $(5,751)  $9,682   $(2,249)  $215   $(8,515)  $(10,327)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   4,824    7,144    7,465    5,825    8,264    12,438    8,820 
Amortization   -    -    -    62    -    117    79 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (55)   (336)   (403)   (1,272)   (267)   (3,466)   (1,780)
Due from (to) third party property managers   5,120    (5,081)   3,790    4,587    3,246    5,884    6,668 
Increase (decrease) in liabilities                                   
Accrued expenses   (3,447)   (1,771)   (2,582)   (963)   (588)   (5,272)   (931)
Tenant Deposits   (2,093)   1,945    -    -    -    -    - 
Due to (from) related parties   454    3,950    400    (787)   (730)   (249)   4,384 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (2,136)   99    18,351    5,203    10,141    936    6,912 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    -    -    -    8,300    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    300    -    -    -    -    - 
Redemption of membership units   -    (300)   -    -    -    -    - 
Distributions   (7,151)   (10,714)   (18,034)   (7,359)   (12,998)   (7,550)   (4,330)
Net cash provided by (used in) financing activities   (7,151)   (10,714)   (18,034)   (7,359)   (12,998)   750    (4,330)
Net change in cash   (9,287)   (10,615)   316    (2,156)   (2,858)   1,685    2,581 
Cash at beginning of year   13,821    14,172    15,677    8,340    9,748    4,318    1,014 
Cash at end of year  $4,534   $3,557   $15,993   $6,184   $6,890   $6,004   $3,595 
                                    
Cash paid for income taxes  $67   $3,173   $1,822   $7,337   $2,323   $6,965   $2,476 
Cash paid for interest expenses  $-   $-   $-   $5,733   $-   $14,380   $8,406 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-238

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Mimosa   Mojave   Murphy   Mycroft   Nugget   Odessa   Olive 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(10,904)  $(3,557)  $(14,490)  $7,162   $(1,965)  $(11,002)  $(6,300)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   5,908    7,049    8,171    4,933    15,387    14,664    7,377 
Amortization   537    133    75    -    -    119    67 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (48)   (1,236)   (1,761)   (78)   (153)   (3,348)   (1,392)
Due from (to) third party property managers   7,448    (2,049)   7,483    2,310    5,643    (2,361)   (3,460)
Increase (decrease) in liabilities                                   
Accrued expenses   (855)   (1,023)   (1,608)   (2,233)   (2,457)   (3,755)   (581)
Tenant Deposits   -    599    (300)   250    -    (798)   - 
Due to (from) related parties   4,973    (2,343)   1,607    (1,400)   (7,727)   (17,060)   (4,686)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   7,060    (2,427)   (823)   10,943    8,728    (23,540)   (8,976)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    -    -    -    35,100    19,000 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    -    200    2,500    100    - 
Redemption of membership units   -    -    -    (200)   (2,500)   (100)   - 
Distributions   (7,015)   (5,989)   (3,197)   (12,483)   (17,250)   (6,146)   (6,116)
Net cash provided by (used in) financing activities   (7,015)   (5,989)   (3,197)   (12,483)   (17,250)   28,954    12,884 
Net change in cash   44    (8,416)   (4,020)   (1,540)   (8,522)   5,414    3,908 
Cash at beginning of year   2,442    10,626    8,272    15,368    15,822    647    306 
Cash at end of year  $2,486   $2,210   $4,252   $13,827   $7,300   $6,061   $4,215 
                                    
Cash paid for income taxes  $1,150   $2,389   $7,551   $131   $7,008   $5,198   $6,733 
Cash paid for interest expenses  $8,252   $6,480   $8,107   $-   $-   $14,726   $5,951 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-239

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Oly   Onyx   Oscar   Osceola   Osprey   Otoro   Palmer 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(13,645)  $2,657   $3,767   $(3,638)  $(13,327)  $(42,878)  $(1,916)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   12,529    12,016    8,036    7,701    10,980    12,169    9,172 
Amortization   114    -    -    -    -    94    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (3,353)   (522)   (288)   (1,711)   (269)   (2,424)   (439)
Due from (to) third party property managers   5,193    (12)   (28,546)   (1,853)   13,934    2,026    (5,056)
Increase (decrease) in liabilities                                   
Accrued expenses   (3,907)   (2,547)   (4,754)   (4,569)   (1,744)   656    (2,751)
Tenant Deposits   200    -    3,390    (1)   (2,295)   2,319    1,895 
Due to (from) related parties   3,222    (3,150)   (10,348)   (3,064)   (182)   (49,120)   (2,461)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   353    8,443    (28,743)   (7,135)   7,098    (77,159)   (1,556)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    -    7,000    -    78,700    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    -    -    100    680    - 
Redemption of membership units   -    -    -    -    (100)   (680)   - 
Distributions   (5,305)   (16,409)   (12,806)   (9,947)   (10,436)   (2,053)   (14,474)
Net cash provided by (used in) financing activities   (5,305)   (16,409)   (12,806)   (2,947)   (10,436)   76,647    (14,474)
Net change in cash   (4,952)   (7,967)   (41,549)   (10,082)   (3,338)   (512)   (16,030)
Cash at beginning of year   12,870    13,900    44,726    16,995    12,831    1,822    22,375 
Cash at end of year  $7,918   $5,934   $3,177   $6,913   $9,493   $1,310   $6,345 
                                    
Cash paid for income taxes  $4,901   $3,153   $2,314   $5,114   $9,047   $5,912   $3,349 
Cash paid for interest expenses  $14,382   $-   $-   $19   $-   $10,940   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-240

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Patrick   Peanut   Pearl   Pecan   Peterson   Piedmont   Pinot 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(4,230)  $(2,363)  $146   $1,966   $5,222   $(14,240)  $(2,838)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   7,036    5,929    14,997    5,725    6,208    10,544    8,859 
Amortization   66    62    -    68    -    345    136 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (80)   (1,274)   (26)   (95)   (343)   (3,079)   (1,835)
Due from (to) third party property managers   (486)   6,544    (6,095)   1,098    (3,512)   5,392    (5,375)
Increase (decrease) in liabilities                                   
Accrued expenses   (241)   (505)   (2,666)   (1,099)   214    (1,046)   (1,381)
Tenant Deposits   20    -    150    (1,863)   -    -    200 
Due to (from) related parties   858    2,592    (4,796)   (2,814)   2,748    14,062    (585)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   2,943    10,984    1,710    2,985    10,536    11,977    (2,819)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    -    -    -    -    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    300    1,000    -    -    -    - 
Redemption of membership units   -    (300)   (1,000)   -    -    -    - 
Distributions   (5,258)   (4,329)   (19,419)   (9,739)   (15,019)   (5,411)   (6,166)
Net cash provided by (used in) financing activities   (5,258)   (4,329)   (19,419)   (9,739)   (15,019)   (5,411)   (6,166)
Net change in cash   (2,315)   6,655    (17,709)   (6,754)   (4,483)   6,566    (8,985)
Cash at beginning of year   8,850    167    24,130    18,851    21,117    3,086    16,588 
Cash at end of year  $6,535   $6,822   $6,421   $12,097   $16,634   $9,652   $7,603 
                                    
Cash paid for income taxes  $2,074   $934   $2,944   $2,236   $2,370   $5,394   $3,265 
Cash paid for interest expenses  $4,471   $7,044   $-   $4,657   $-   $13,098   $9,882 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-241

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Pioneer   Plumtree   Point   Porthos   Quincy   Redondo   Regency 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(10,017)  $(2,655)  $(24,445)  $1,460   $2,430   $(21,351)  $(5,917)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   16,234    5,535    10,500    8,295    15,029    8,616    7,586 
Amortization   -    164    92    -    -    788    687 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (5)   (72)   (2,499)   (746)   (137)   (71)   (164)
Due from (to) third party property managers   6,018    104    6,191    1,911    3,595    8,542    4,334 
Increase (decrease) in liabilities                                   
Accrued expenses   (980)   (1,442)   (830)   (3,105)   (1,242)   (536)   (596)
Tenant Deposits   -    (1,450)   (200)   -    800    448    - 
Due to (from) related parties   (1,047)   (3,707)   (1,965)   (3,049)   (26,964)   10,184    9,970 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   10,204    (3,522)   (13,157)   4,767    (6,488)   6,619    15,900 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    11,100    -    20,800    -    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   100    -    -    -    3,750    -    - 
Redemption of membership units   (100)   -    -    -    (3,750)   -    - 
Distributions   (10,161)   (10,239)   (2,655)   (18,293)   (13,812)   (3,425)   (10,229)
Net cash provided by (used in) financing activities   (10,161)   (10,239)   8,445    (18,293)   6,988    (3,425)   (10,229)
Net change in cash   43    (13,761)   (4,712)   (13,526)   500    3,194    5,671 
Cash at beginning of year   7,950    23,770    8,937    28,240    6,547    1,352    8,982 
Cash at end of year  $7,993   $10,009   $4,225   $14,714   $7,047   $4,546   $14,652 
                                    
Cash paid for income taxes  $6,024   $2,175   $2,806   $5,919   $5,081   $4,576   $4,216 
Cash paid for interest expenses  $-   $6,044   $12,840   $-   $56   $12,090   $11,100 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-242

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Reginald   Reynolds   Ribbonwalk   Richardson   Richmond   Ridge   Ritter 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(19,293)  $225   $(12,621)  $4,619   $(8,039)  $(4,857)  $(9,982)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   13,991    11,810    8,791    8,642    10,463    5,983    13,864 
Amortization   -    -    81    -    -    72    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (345)   (173)   (1,868)   2    (497)   (1,348)   (144)
Due from (to) third party property managers   9,042    (150)   13,017    3,504    (4,400)   8,495    760 
Increase (decrease) in liabilities                                   
Accrued expenses   12,515    (1,981)   (737)   (2,158)   1,604    (921)   2,477 
Tenant Deposits   (4,293)   -    -    -    748    -    (1,005)
Due to (from) related parties   (26,130)   (10,529)   (9,226)   (4,658)   28,467    953    (9,959)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (14,512)   (798)   (2,564)   9,952    28,347    8,377    (3,989)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   (18,669)   -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   (18,669)   -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   31,000    -    12,000    -    -    -    17,200 
Repayments of amounts due to related party   -    -    -    -    (410,659)   -    - 
Net proceeds from the issuance of membership units   2,450    500    -    1,200    414,717    -    1,000 
Redemption of membership units   (2,450)   (500)   -    (1,200)   -    -    (1,000)
Distributions   (6,460)   (17,193)   (2,498)   (15,616)   (18,450)   (5,210)   (11,881)
Net cash provided by (used in) financing activities   24,540    (17,193)   9,502    (15,616)   (14,392)   (5,210)   5,319 
Net change in cash   (8,640)   (17,991)   6,938    (5,664)   13,955    3,167    1,330 
Cash at beginning of year   12,317    34,185    287    19,245    2,672    1,258    6,086 
Cash at end of year  $3,677   $16,194   $7,225   $13,581   $16,627   $4,424   $7,416 
                                    
Cash paid for income taxes  $6,275   $6,290   $2,641   $2,751   $4,827   $6,323   $2,815 
Cash paid for interest expenses  $84   $-   $8,793   $-   $-   $6,565   $47 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-243

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   River   Riverwalk   Rooney   Roseberry   Rosewood   Roxy   Saddlebred 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(2,497)  $(3,126)  $(4,204)  $(2,715)  $(5,001)  $(6,637)  $(11,993)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   7,323    10,855    8,844    9,026    7,438    8,958    15,278 
Amortization   68    -    90    78    72    80    108 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    (2,753)
Prepaid expenses   (1,192)   (83)   (2,004)   (3,617)   (1,563)   (2,613)   (2,442)
Due from (to) third party property managers   (1,037)   8,041    4,039    4,792    4,560    3,810    4,424 
Increase (decrease) in liabilities                                   
Accrued expenses   (1,260)   2,638    (235)   (1,557)   (240)   (267)   (2,650)
Tenant Deposits   -    (798)   -    -    -    -    - 
Due to (from) related parties   464    (3,004)   (7,334)   (5,344)   (2,458)   (11,759)   (19,333)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   1,868    14,524    (805)   663    2,808    (8,427)   (19,362)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    9,400    5,700    5,100    15,200    23,400 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   100    200    -    -    -    -    100 
Redemption of membership units   (100)   (200)   -    -    -    -    (100)
Distributions   (6,185)   (11,830)   (4,951)   (6,170)   (3,453)   (4,483)   (5,636)
Net cash provided by (used in) financing activities   (6,185)   (11,830)   4,449    (470)   1,647    10,717    17,764 
Net change in cash   (4,317)   2,694    3,645    192    4,455    2,290    (1,598)
Cash at beginning of year   8,965    11,665    3,987    2,190    2,222    4,069    9,534 
Cash at end of year  $4,648   $14,359   $7,631   $2,382   $6,677   $6,359   $7,936 
                                    
Cash paid for income taxes  $4,662   $1,598   $2,284   $3,892   $1,621   $2,315   $3,778 
Cash paid for interest expenses  $8,035   $-   $10,151   $9,863   $9,063   $10,595   $13,056 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-244

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Saint   Sajni   Salem   Salinas   Saturn   Scepter   Sequoyah 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $677   $543   $(15,256)  $4,085   $(11,886)  $(4,110)  $(19,493)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   7,582    11,077    8,775    8,078    7,264    6,475    7,305 
Amortization   78    -    137    -    60    72    620 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (2,054)   (912)   (1,919)   (37)   (1,187)   (1,709)   (36)
Due from (to) third party property managers   3,545    5,979    4,724    (12,385)   5,901    6,762    2,967 
Increase (decrease) in liabilities                                   
Accrued expenses   (718)   (4,312)   (1,394)   (681)   (863)   (245)   (23)
Tenant Deposits   -    -    (2,195)   -    (311)   (1,795)   500 
Due to (from) related parties   (9,054)   (9,933)   2,993    (17,263)   (9,478)   (4,166)   677 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   55    2,442    (4,135)   (18,203)   (10,501)   1,284    (7,483)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    (5,041)
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    (5,041)
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    11,000    -    20,300    11,900    -    17,200 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    200    -    -    100    - 
Redemption of membership units   -    -    (200)   -    -    (100)   - 
Distributions   (9,534)   (14,355)   (4,803)   (10,545)   (2,607)   (2,695)   (3,163)
Net cash provided by (used in) financing activities   (9,534)   (3,355)   (4,803)   9,755    9,293    (2,695)   14,037 
Net change in cash   (9,478)   (913)   (8,938)   (8,448)   (1,207)   (1,411)   1,513 
Cash at beginning of year   21,695    6,958    10,972    14,381    4,379    4,796    2,000 
Cash at end of year  $12,217   $6,044   $2,035   $5,932   $3,172   $3,385   $3,513 
                                    
Cash paid for income taxes  $2,449   $3,797   $3,264   $2,922   $2,204   $2,165   $2,955 
Cash paid for interest expenses  $8,293   $83   $9,967   $55   $6,556   $7,396   $8,658 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-245

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Shallowford   Shoreline   Sigma   Simon   Sims   Soapstone   Sodalis 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(20,782)  $(6,822)  $(7,410)  $9,372   $2,357   $(1,269)  $885 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   9,917    8,520    10,479    7,953    7,498    6,745    7,959 
Amortization   328    13    92    -    -    192    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (2,371)   (1,386)   (2,191)   (415)   (401)   (134)   (116)
Due from (to) third party property managers   4,085    3,049    5,503    3,646    3,151    (1,761)   4,610 
Increase (decrease) in liabilities                                   
Accrued expenses   (1,546)   (493)   (643)   (2,684)   (2,307)   (767)   783 
Tenant Deposits   (200)   -    -    -    -    750    (2,000)
Due to (from) related parties   4,302    (6,518)   1,439    112    (1,170)   (2,645)   (1,928)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   (6,268)   (3,637)   7,269    17,984    9,128    1,111    10,194 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    (11,177)   - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    (11,177)   - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   8,600    16,600    -    -    -    6,900    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    -    -    -    -    2,100 
Redemption of membership units   -    -    -    -    -    -    (2,100)
Distributions   (2,969)   (5,022)   (6,840)   (18,477)   (14,668)   (6,812)   (9,328)
Net cash provided by (used in) financing activities   5,631    11,578    (6,840)   (18,477)   (14,668)   88    (9,328)
Net change in cash   (637)   7,940    428    (493)   (5,540)   (9,977)   866 
Cash at beginning of year   4,335    -    7,893    18,491    17,985    16,910    5,917 
Cash at end of year  $3,698   $7,940   $8,321   $17,998   $12,444   $6,932   $6,783 
                                    
Cash paid for income taxes  $2,944   $6,927   $3,200   $1,607   $3,196   $2,730   $3,084 
Cash paid for interest expenses  $12,342   $9,858   $10,536   $-   $-   $5,426   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-246

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Spencer   Splash   Spring   Stonebriar   Sugar   Summerset   Sundance 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(5,572)  $(7,510)  $(4,453)  $(6,433)  $(9,261)  $(6,483)  $(20,394)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   8,313    5,955    6,803    5,574    8,559    10,115    10,205 
Amortization   90    194    -    59    92    80    788 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (1,177)   (57)   (47)   (1,792)   (2,581)   (1,153)   (176)
Due from (to) third party property managers   5,684    (1,602)   6,779    1,513    5,532    (18,797)   5,324 
Increase (decrease) in liabilities                                   
Accrued expenses   (1,018)   (884)   (1,579)   (318)   (786)   336    (629)
Tenant Deposits   -    -    -    (1,395)   -    724    (100)
Due to (from) related parties   (2,756)   (4,408)   (531)   (18,926)   3,651    (2,841)   (1,356)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   3,565    (8,313)   6,972    (21,717)   5,206    (18,019)   (6,339)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   9,400    8,200    -    16,000    -    24,500    6,700 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   200    -    -    -    -    -    - 
Redemption of membership units   (200)   -    -    -    -    -    - 
Distributions   (6,535)   (6,809)   (10,859)   (2,262)   (4,053)   (3,278)   (3,930)
Net cash provided by (used in) financing activities   2,865    1,391    (10,859)   13,738    (4,053)   21,222    2,770 
Net change in cash   6,430    (6,922)   (3,887)   (7,980)   1,153    3,203    (3,569)
Cash at beginning of year   597    13,815    9,230    14,993    2,820    2,097    7,408 
Cash at end of year  $7,027   $6,893   $5,343   $7,013   $3,972   $5,299   $3,838 
                                    
Cash paid for income taxes  $5,044   $2,131   $5,318   $1,559   $4,538   $298   $3,477 
Cash paid for interest expenses  $9,134   $5,198   $-   $6,486   $9,411   $7,813   $12,108 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-247

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Sunnyside   Swift   Taylor   Terracotta   Theodore   Tulip   Tuscan 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $2,050   $(11,039)  $(10,476)  $(39,241)  $4,844   $(5,253)  $(4,020)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   6,079    10,575    7,377    7,573    7,893    8,726    8,879 
Amortization   -    -    229    81    -    81    197 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (27)   (620)   (1,394)   (2,047)   (415)   (1,925)   (57)
Due from (to) third party property managers   2,503    31    (2,987)   9,705    (654)   5,221    91 
Increase (decrease) in liabilities                                   
Accrued expenses   (2,020)   (1,097)   (396)   1,199    (2,947)   (419)   1,245 
Tenant Deposits   100    (100)   150    (3,143)   250    (2,195)   - 
Due to (from) related parties   (904)   (9,125)   1,849    3,818    2,995    (18,754)   2,730 
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   7,780    (11,375)   (5,649)   (22,056)   11,967    (14,519)   9,067 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    -    11,100    19,100    -    24,300    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    -    -    -    300    - 
Redemption of membership units   -    -    -    -    -    (300)   - 
Distributions   (13,990)   (11,532)   (3,361)   (2,206)   (17,160)   (4,540)   (10,891)
Net cash provided by (used in) financing activities   (13,990)   (11,532)   7,739    16,894    (17,160)   19,760    (10,891)
Net change in cash   (6,209)   (22,907)   2,090    (5,162)   (5,193)   5,242    (1,825)
Cash at beginning of year   21,022    33,205    1,314    6,476    20,437    664    17,299 
Cash at end of year  $14,812   $10,298   $3,404   $1,314   $15,244   $5,906   $15,475 
                                    
Cash paid for income taxes  $1,803   $4,983   $1,342   $2,636   $1,591   $2,208   $3,552 
Cash paid for interest expenses  $-   $-   $7,878   $8,758   $-   $10,687   $7,578 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-248

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Tuscarora   Tuxford   Vernon   Walton   Wave   Weldon   Wellington 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $5,155   $(19,547)  $(6,719)  $401   $(56,181)  $(3,833)  $(3,484)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   9,182    7,203    7,238    8,246    9,192    5,811    12,482 
Amortization   -    70    69    -    81    59    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (111)   (1,583)   (1,567)   (6)   (1,970)   (1,191)   (169)
Due from (to) third party property managers   5,002    8,672    4,298    3,921    (12,783)   6,969    (726)
Increase (decrease) in liabilities                                   
Accrued expenses   (2,940)   (762)   (583)   (5,219)   291    (352)   (2,842)
Tenant Deposits   (150)   -    -    (200)   (549)   -    - 
Due to (from) related parties   (3,914)   (13,652)   (2,535)   (26,097)   (31,226)   (5,957)   (2,351)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   12,224    (19,599)   201    (18,954)   (93,144)   1,506    2,911 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    25,800    7,400    29,000    94,200    -    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    -    1,500    -    -    700 
Redemption of membership units   -    -    -    (1,500)   -    -    (700)
Distributions   (19,066)   (1,049)   (4,222)   (7,728)   (418)   (2,766)   (17,003)
Net cash provided by (used in) financing activities   (19,066)   24,751    3,178    21,272    93,782    (2,766)   (17,003)
Net change in cash   (6,841)   5,152    3,379    2,318    637    (1,260)   (14,091)
Cash at beginning of year   18,305    360    1,136    4,598    1,332    5,100    21,206 
Cash at end of year  $11,464   $5,512   $4,514   $6,916   $1,969   $3,840   $7,114 
                                    
Cash paid for income taxes  $6,080   $8,584   $6,486   $5,536   $5,215   $2,348   $7,346 
Cash paid for interest expenses  $-   $7,056   $7,135   $79   $9,016   $5,349   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-249

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Wentworth   Wescott   Westchester   Wildwood   Willow   Wilson   Winchester 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $2,071   $(15,479)  $(15,810)  $(740)  $(10,097)  $(1,034)  $(1,425)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   6,833    7,530    9,374    6,063    8,041    11,722    8,418 
Amortization   113    116    91    98    -    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (1,197)   (310)   (2,143)   (1,460)   23    (22)   (480)
Due from (to) third party property managers   (2,959)   (1,069)   12,607    2,839    4,609    4,645    3,416 
Increase (decrease) in liabilities                                   
Accrued expenses   (1,200)   (210)   (1,802)   (243)   (3,117)   (2,309)   845 
Tenant Deposits   (1,595)   (1,545)   -    100    (650)   -    - 
Due to (from) related parties   3,338    (8,916)   (5,497)   (563)   8,401    (5,297)   (13,683)
Due to commonly controlled entity   -    -    -    -    -    -    - 
Net cash provided by (used in) operating activities   5,404    (19,882)   (3,179)   6,095    7,210    7,705    (2,909)
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   -    20,800    16,600    -    -    -    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    -    -    -    1,600    100    - 
Redemption of membership units   -    -    -    -    (1,600)   (100)   - 
Distributions   (8,760)   (4,138)   (5,775)   (7,173)   (9,395)   (16,257)   (15,671)
Net cash provided by (used in) financing activities   (8,760)   16,662    10,825    (7,173)   (9,395)   (16,257)   (15,671)
Net change in cash   (3,356)   (3,220)   7,646    (1,078)   (2,184)   (8,552)   (18,580)
Cash at beginning of year   11,461    5,493    -    8,715    5,756    16,705    22,928 
Cash at end of year  $8,105   $2,273   $7,646   $7,637   $3,572   $8,153   $4,347 
                                    
Cash paid for income taxes  $2,361   $1,762   $11,611   $1,276   $2,126   $4,227   $3,891 
Cash paid for interest expenses  $6,249   $8,347   $9,335   $6,148   $-   $-   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $-   $-   $-   $- 
Sale of membership interest for note receivable, related party  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-250

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Windsor   Winston   Wisteria   Arlo   Hualapai   Brentwood   Bellvue 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(45,280)  $(4,025)  $(9,138)  $(7,349)  $(15,017)  $(22,882)  $(11,733)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   9,618    9,039    9,735    1,840    1,813    1,511    3,085 
Amortization   101    -    77    -    -    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Gain from sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    -    - 
Prepaid expenses   (1,694)   (0)   (1,851)   -    -    -    - 
Due from (to) third party property managers   14,154    8,462    (8,295)   -    -    -    - 
Increase (decrease) in liabilities                                   
Accrued expenses   (2,172)   (2,293)   (181)   -    -    -    - 
Tenant Deposits   (1,298)   -    1,048    -    -    -    - 
Due to (from) related parties   (1,225)   (1,671)   (895)   -    -    -    - 
Due to commonly controlled entity   -    -    -    5,508    13,204    21,370    8,648 
Net cash provided by (used in) operating activities   (27,795)   9,511    (9,501)   -    -    -    - 
                                    
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Additions to property and equipment   -    -    -    -    -    -    - 
Net cash flows provided by (used in) investing activities   -    -    -    -    -    -    - 
                                    
Cash flows from financing activities                                   
Proceeds from operational notes, related party   32,500    -    9,300    -    -    -    - 
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    1,100    -    -    -    -    - 
Redemption of membership units   -    (1,100)   -    -    -    -    - 
Distributions   (4,725)   (12,214)   (4,085)   -    -    -    - 
Net cash provided by (used in) financing activities   27,775    (12,214)   5,215    -    -    -    - 
Net change in cash   (20)   (2,704)   (4,286)   -    -    -    - 
Cash at beginning of year   4,851    12,303    10,967    -    -    -    - 
Cash at end of year  $4,831   $9,599   $6,681   $-   $-   $-   $- 
                                    
Cash paid for income taxes  $6,986   $3,325   $1,493   $-   $-   $-   $- 
Cash paid for interest expenses  $10,711   $-   $9,957   $7,001   $7,605   $6,009   $12,681 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from Manager for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Acquisition of property purchase price  $-   $-   $-   $269,900   $265,000   $220,000   $450,000 
Sale of membership interest for note receivable, related party  $-   $-   $-   $269,900   $285,978   $246,531   $472,977 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-251

 

 

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2024

 

 

   Lorenz   Lexie   Hartsfield   Consolidated 
                 
Cash Flows from Operating Activities:                
Net income (loss)  $(10,612)  $(21,307)  $(20,579)  $(1,748,139)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                    
Depreciation   1,911    2,889    2,658    2,193,651 
Amortization   -    -    -    25,245 
Credit loss expense (recovery)   -    -    -    (960)
Gain from sale of property   -    -    -    (80,846)
(Increase) Decrease in assets                    
Other receivables   -    -    -    1,551 
Prepaid expenses   -    -    -    (228,552)
Due from (to) third party property managers   -    -    -    538,856 
Increase (decrease) in liabilities                    
Accrued expenses   -    -    -    (277,359)
Tenant Deposits   -    -    -    (36,492)
Due to (from) related parties   -    -    -    (1,024,909)
Due to commonly controlled entity   8,701    18,418    17,921    93,771 
Net cash provided by (used in) operating activities   -    -    -    (544,182)
                     
Cash Flows from investing activities                    
Proceeds from sale of property   -    -    -    141,522 
Additions to property and equipment   -    -    -    (68,339)
Net cash flows provided by (used in) investing activities   -    -    -    73,183 
                     
Cash flows from financing activities                    
Proceeds from operational notes, related party   -    -    -    2,045,300 
Repayments of amounts due to related party   -    -    -    (1,251,369)
Net proceeds from the issuance of membership units   -    -    -    1,228,358 
Redemption of membership units   -    -    -    (74,570)
Distributions   -    -    -    (2,126,831)
Net cash provided by (used in) financing activities   -    -    -    (179,112)
Net change in cash   -    -    -    (650,111)
Cash at beginning of year   -    -    -    2,531,500 
Cash at end of year  $-   $-   $-   $1,881,389 
                     
Cash paid for income taxes  $-   $-   $-   $892,135 
Cash paid for interest expenses  $9,089   $9,223   $13,431   $1,225,452 
                     
Supplemental disclosure of non-cash investing and financing activities:                    
Advance from Manager for acquisition of property  $-   $-   $-   $- 
Acquisition of property purchase price  $417,500   $390,000   $580,000   $2,592,400 
Sale of membership interest for note receivable, related party  $439,783   $415,698   $612,184   $2,743,051 
Deemed contribution from Manager for forgiveness of amounts due to Manager  $-   $-   $-   $3,523 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-252

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    100    101   Abbington   Abernant    Alvin    Amber    Apollo 
                                    
Cash Flows from Operating Activities:                                   
Net income (loss)  $8,661   $(41,935)  $2,101   $(7,968)  $(5,284)  $(13,118)  $(5,797)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation   11,260    17,438    13,825    1,562    2,184    8,416    5,383 
Amortization   -    -    -    -    -    75    116 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables   (3,495)   -    (4,498)   -    -    -    - 
Deposits   (3,745)   (3,095)   (2,845)   -    (2,295)   (2,843)   (1,744)
Prepaid expenses   587    1,386    700    212    254    5,549    5,484 
Due from (to) third party property managers   (11,007)   (8,280)   (3,088)   354    678    (2,534)   (7,015)
Increase (decrease) in liabilities                                    
Accrued expenses   (2,332)   (4,437)   (11,493)   2,827    3,454    (1,598)   (2,572)
Tenant Deposits   3,745    3,095    2,845    -    2,295    2,843    1,744 
Due to (from) related parties   25,843    46,237    16,985    3,559    3,585    3,628    8,384 
Net cash provided by (used in) operating activities   29,518    10,408    14,532    546    4,872    419    3,984 
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   (7,100)   (5,300)   (1,000)   -    -    -    (600)
Distributions   (27,747)   (15,171)   (15,374)   -    -    (3,862)   (2,889)
Net cash provided by (used in) financing activities   (34,847)   (20,471)   (16,374)   -    -    (3,862)   (3,489)
Net change in cash   (5,329)   (10,063)   (1,842)   546    4,872    (3,443)   495 
Cash at beginning of year   34,876    15,458    12,352    -    -    6,844    24 
Cash at end of year  $29,547   $5,396   $10,509   $546   $4,872   $3,401   $518 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $-   $-   $-   $-   $7,857   $9,714 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property  $-   $-   $-   $227,240   $317,500   $-   $- 
Deemed contribution from Manager  $-   $11,543   $-   $2,405   $330   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-253

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Aster   Augusta   Avebury   Avondale   Badminton   Ballinger   Bandelier 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(18,568)  $(7,711)  $(5,583)  $(13,295)  $(15,818)  $(7,509)  $(535)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation   7,014    4,075    7,990    4,523    7,252    -    8,183 
Amortization   -    -    76    -    83    -    86 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables   -    -    -    -    -    -    (2,195)
Deposits   (2,245)   (1,995)   (1,795)   (2,195)   (2,993)   -    (2,195)
Prepaid expenses   2,507    509    4,652    340    2,410    -    5,660 
Due from (to) third party property managers   (4,731)   (4,514)   (7,673)   (4,097)   3,569    2,757    (6,496)
Increase (decrease) in liabilities                                    
Accrued expenses   (1,508)   5,874    (1,897)   5,440    (2,016)   1,894    (3,308)
Tenant Deposits   2,245    1,995    1,795    2,195    2,993    -    2,195 
Due to (from) related parties   20,509    6,964    10,012    11,622    (4,968)   10,228    4,309 
Net cash provided by (used in) operating activities   5,224    5,197    7,576    4,534    (9,488)   7,370    5,704 
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    (305,905)   -    (339,491)   -    (308,266)   - 
Net proceeds from the issuance of membership units   (500)   325,223    (1,000)   359,466    (1,200)   326,071    (200)
Distributions   (3,459)   (3,520)   (4,755)   (7,780)   (4,844)   -    (4,425)
Net cash provided by (used in) financing activities   (3,959)   15,799    (5,755)   12,194    (6,044)   17,805    (4,625)
Net change in cash   1,265    20,996    1,821    16,728    (15,532)   25,175    1,079 
Cash at beginning of year   97    -    1,134    -    15,849    -    13,098 
Cash at end of year  $1,362   $20,996   $2,956   $16,728   $317   $25,175   $14,176 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $8,447   $-   $7,942   $-   $8,140   $-   $9,577 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property  $-   $297,900   $-   $330,000   $-   $298,510   $- 
Deemed contribution from Manager  $1,695   $1,431   $-   $-   $4,759   $710   $4,516 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-254

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Baron   Basil   Bayside   Bazzel   Bedford   Bella   Belle 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $1,189   $(9,313)  $(14,757)  $(14,918)  $992   $(23,184)  $(26,232)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation   16,231    5,569    7,050    7,527    7,695    3,505    12,084 
Amortization   -    69    80    -    74    -    - 
Credit loss expense (recovery)   -    (2,385)   -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables   (2,895)   -    -    (60)   -    -    - 
Deposits   (2,895)   (1,495)   (2,619)   (1,795)   (4,590)   -    (2,495)
Prepaid expenses   3,830    2,420    5,026    1,899    4,887    492    2,587 
Due from (to) third party property managers   (6,053)   151    (5,291)   8,312    (12,164)   2,290    (1,693)
Increase (decrease) in liabilities                                    
Accrued expenses   (4,595)   (698)   1,246    711    (1,315)   7,767    (5,804)
Tenant Deposits   2,895    1,495    2,619    1,795    4,590    -    2,495 
Due to (from) related parties   9,944    695    (3,593)   4,355    1,373    7,165    40,158 
Net cash provided by (used in) operating activities   17,651    (3,492)   (10,238)   7,826    1,542    (1,966)   21,100 
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    -    -    -    -    (315,710)   - 
Net proceeds from the issuance of membership units   (1,120)   (100)   -    (200)   (1,000)   335,062    (3,950)
Distributions   (18,218)   (5,011)   (7,383)   (5,813)   (7,330)   (3,990)   (12,520)
Net cash provided by (used in) financing activities   (19,338)   (5,111)   (7,383)   (6,013)   (8,330)   15,361    (16,470)
Net change in cash   (1,688)   (8,603)   (17,621)   1,814    (6,788)   13,396    4,630 
Cash at beginning of year   19,732    9,670    18,745    14,346    19,399    -    471 
Cash at end of year  $18,044   $1,067   $1,125   $16,160   $12,611   $13,396   $5,101 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $5,306   $7,746   $-   $7,669   $-   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                     
Advance from related party for acquisition of property  $-   $-   $-   $-   $-   $305,000   $- 
Deemed contribution from Manager  $-   $-   $-   $-   $-   $1,161   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-255

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Belvedere   Bergenia   Blossom   Bonneau   Brainerd   Braxton   Brennan 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(4,550)  $(4,285)  $(2,980)  $(4,667)  $(8,318)  $(357)  $(24,959)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation   4,051    -    6,990    10,275    7,997    8,910    6,230 
Amortization   -    -    -    -    785    493    130 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables   -    -    (2,765)   -    (4,190)   (2,693)   (319)
Deposits   (2,295)   (1,595)   (1,845)   (2,295)   (2,595)   (2,045)   (1,994)
Prepaid expenses   312    288    1,115    1,719    1,338    2,830    4,088 
Due from (to) third party property managers   (7,447)   (4,417)   598    (7,212)   (6,226)   (5,361)   (2,221)
Increase (decrease) in liabilities                                    
Accrued expenses   5,747    5,639    958    2,248    4,110    (3,116)   (1,197)
Tenant Deposits   2,295    1,595    1,845    2,295    2,595    2,045    1,994 
Due to (from) related parties   11,666    7,303    7,950    13,058    7,462    2,718    (72,239)
Net cash provided by (used in) operating activities   9,778    4,528    11,866    15,422    2,959    3,424    (90,487)
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   (304,103)   (224,171)   -    -    -    -    - 
Net proceeds from the issuance of membership units   322,875    239,423    (1,000)   (250)   -    (1,100)   90,622 
Distributions   (8,043)   (2,848)   (13,421)   (11,740)   (7,921)   (19,353)   (1,485)
Net cash provided by (used in) financing activities   10,729    12,405    (14,421)   (11,990)   (7,921)   (20,453)   89,137 
Net change in cash   20,507    16,933    (2,555)   3,432    (4,962)   (17,029)   (1,350)
Cash at beginning of year   -    -    27,514    6,661    8,705    27,902    2,706 
Cash at end of year  $20,507   $16,933   $24,959   $10,093   $3,743   $10,873   $1,356 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $-   $-   $-   $9,415   $493   $8,989 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property  $295,000   $217,000   $-   $-   $-   $-   $- 
Deemed contribution from Manager  $-   $898   $-   $-   $-   $-   $(2,443)

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-256

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Briarwood   Brooklyn   Burlington   Butter   Calvin   Camino   Campbell 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(10,901)  $(21,156)  $217   $(6,828)  $(5,748)  $3,933   $(50,320)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation   1,433    5,709    17,832    10,379    2,164    7,289    1,422 
Amortization   -    450    -    91    -    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    39,763 
(Increase) Decrease in assets                                    
Other receivables   -    -    (3,395)   -    -    -    - 
Deposits   -    (1,249)   (3,395)   (2,795)   (1,795)   (1,994)   - 
Prepaid expenses   237    944    6,708    5,385    199    684    - 
Due from (to) third party property managers   121    (3,870)   (9,874)   (14,204)   (2,550)   (5,709)   - 
Increase (decrease) in liabilities                                    
Accrued expenses   2,688    (6,075)   (2,550)   (3,727)   2,991    (973)   (3,346)
Tenant Deposits   -    1,249    3,395    2,795    1,795    1,994    - 
Due to (from) related parties   7,636    18,530    12,737    7,066    6,820    7,119    (244,797)
Net cash provided by (used in) operating activities   1,213    (5,467)   21,674    (1,839)   3,876    12,343    (257,279)
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   (215,269)   -    -    -    (243,666)   -    - 
Net proceeds from the issuance of membership units   235,059    99    (6,550)   (2,800)   262,352    -    - 
Distributions   -    (4,579)   (20,275)   (7,471)   -    (14,274)   - 
Net cash provided by (used in) financing activities   19,791    (4,480)   (26,825)   (10,271)   18,686    (14,274)   - 
Net change in cash   21,004    (9,947)   (5,151)   (12,110)   22,562    (1,931)   (451)
Cash at beginning of year   -    10,118    17,715    12,333    -    18,534    451 
Cash at end of year  $21,004   $171   $12,564   $222   $22,562   $16,603   $- 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $5,389   $-   $10,260   $-   $-   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                     
Advance from related party for acquisition of property  $209,920   $-   $-   $-   $235,000   $-   $- 
Deemed contribution from Manager  $2,168   $-   $-   $-   $472   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-257

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Cawley   Centennial   Chaparral   Chattahoochee   Chelsea   Chester   Chickamauga 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(4,555)  $(5,001)  $1,538   $-   $(2,684)  $(9,534)  $(4,355)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   3,593    7,834    5,399    -    8,468    11,039    10,258 
Amortization   -    88    158    -    79    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    (2,268)   (4,590)
Deposits   (2,195)   (1,895)   (3,000)   -    (1,895)   (2,445)   (2,545)
Prepaid expenses   545    2,102    (59)   -    8,543    6,294    2,046 
Due from (to) third party property managers   (6,487)   (4,460)   1,437    -    (5,988)   (6,503)   (2,054)
Increase (decrease) in liabilities                                   
Accrued expenses   6,195    (2,392)   2,314    (878)   (3,464)   (2,613)   8,081 
Tenant Deposits   2,195    1,895    3,000    -    1,895    2,445    2,545 
Due to (from) related parties   11,165    3,030    (781)   878    1,945    9,364    21,888 
Net cash provided by (used in) operating activities   10,456    1,200    10,005    -    6,899    5,779    31,275 
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   (323,625)   -    -    -    -    -    (383,793)
Net proceeds from the issuance of membership units   342,749    -    -    -    -    -    397,981 
Distributions   (7,789)   (5,442)   (8,383)   -    (6,599)   (5,712)   (17,229)
Net cash provided by (used in) financing activities   11,335    (5,442)   (8,383)   -    (6,599)   (5,712)   (3,040)
Net change in cash   21,791    (4,241)   1,622    -    300    67    28,234 
Cash at beginning of year   -    13,328    17,171    -    2,482    4,224    - 
Cash at end of year  $21,791   $9,087   $18,793   $-   $2,782   $4,291   $28,234 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $8,876   $4,353   $-   $8,429   $12,323   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $314,000   $-   $-   $-   $-   $-   $372,300 
Deemed contribution from Manager  $(158)  $5,130   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-258

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Chinook   Chitwood   Clover   Coatbridge   Collier   Collinston   Conway 
                             
Cash Flows from Operating Activities:                                   
Net income (loss)  $(18,023)  $1,830   $389   $(27,310)  $381   $(9,331)  $(8,729)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   4,126    10,510    8,793    7,991    9,757    5,811    18,892 
Amortization   -    -    -    84    -    59    493 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    (4,590)   -    (619)   (4,390)   -    - 
Deposits   (2,095)   (2,795)   (1,895)   (6,135)   (2,445)   (1,994)   (3,250)
Prepaid expenses   624    403    1,254    4,435    1,120    2,483    2,749 
Due from (to) third party property managers   869    (6,393)   (9,423)   3,907    (6,735)   (7,574)   (8,675)
Increase (decrease) in liabilities                                   
Accrued expenses   6,069    (1,877)   (2,066)   1,089    (1,297)   (1,024)   (3,372)
Tenant Deposits   2,095    2,795    1,895    6,135    2,445    1,994    3,250 
Due to (from) related parties   (1,490)   18,392    11,977    468    33,284    11,505    7,329 
Net cash provided by (used in) operating activities   (7,824)   18,276    10,925    (9,956)   32,120    1,929    8,686 
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   (314,138)   -    -    -    -    -    - 
Net proceeds from the issuance of membership units   333,328    (250)   (2,200)   (100)   (11,600)   (400)   (5,000)
Distributions   (3,970)   (16,332)   (17,425)   (6,021)   (12,101)   (2,043)   (17,951)
Net cash provided by (used in) financing activities   15,219    (16,582)   (19,625)   (6,121)   (23,701)   (2,443)   (22,951)
Net change in cash   7,395    1,693    (8,700)   (16,077)   8,419    (514)   (14,265)
Cash at beginning of year   -    10,706    20,929    16,300    5,567    1,164    18,351 
Cash at end of year  $7,395   $12,399   $12,229   $223   $13,986   $650   $4,086 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $-   $-   $8,878   $-   $5,349   $493 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $305,000   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager  $1,282   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-259

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Cove   Creekside   Creekwood   Cumberland   Cupcake   Cypress   Daisy 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(3,163)  $3,157   $(12,396)  $3,071   $1,552   $(12,483)  $36 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   3,853    8,530    7,947    8,118    6,550    10,023    8,276 
Amortization   -    -    -    -    122    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    (1,895)   (1,616)   (1,695)   -    (55)   (1,695)
Deposits   (1,595)   (2,395)   (1,795)   (1,695)   (1,595)   (2,395)   (1,695)
Prepaid expenses   502    1,142    6,557    1,805    2,905    10,373    1,243 
Due from (to) third party property managers   (5,204)   (5,355)   (3,534)   (4,650)   (1,626)   (2,602)   (5,445)
Increase (decrease) in liabilities                                   
Accrued expenses   4,506    999    (2,418)   (11)   (2,668)   (1,936)   2,035 
Tenant Deposits   1,595    2,395    1,795    1,695    1,595    2,395    1,695 
Due to (from) related parties   9,438    9,116    10,797    12,795    4,034    22,305    13,437 
Net cash provided by (used in) operating activities   9,932    15,694    5,337    19,433    10,868    25,625    17,887 
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   (216,872)   -    -    -    -    -    - 
Net proceeds from the issuance of membership units   227,408    (3,300)   -    (1,000)   (100)   (100)   (2,500)
Distributions   (5,666)   (16,525)   (4,465)   (14,482)   (8,604)   (5,905)   (13,978)
Net cash provided by (used in) financing activities   4,870    (19,825)   (4,465)   (15,482)   (8,704)   (6,005)   (16,478)
Net change in cash   14,802    (4,131)   872    3,951    2,164    19,619    1,409 
Cash at beginning of year   -    18,793    29    17,990    10,468    987    16,955 
Cash at end of year  $14,802   $14,662   $901   $21,941   $12,632   $20,606   $18,365 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $-   $9,590   $-   $5,839   $12,091   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $210,000   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager  $890   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-260

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Davidson   Dawson   Delta   Dewberry   Diablo   Dogwood   Dolittle 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(11,081)  $(11,331)  $(46,587)  $(8,657)  $(16,006)  $2,247   $(12,027)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   5,818    7,235    9,435    5,225    7,141    6,632    8,443 
Amortization   62    74    82    65    77    -    77 
Credit loss expense (recovery)   -    -    12,525    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    (397)   (12,225)   (2,140)   (1,995)   -    (1,000)
Deposits   (1,806)   (1,745)   -    (4,785)   (2,145)   (2,243)   (3,443)
Prepaid expenses   4,182    3,055    7,173    1,613    4,935    1,299    3,991 
Due from (to) third party property managers   2,972    (6,088)   (2,686)   (7,298)   (6,978)   (9,121)   (6,276)
Increase (decrease) in liabilities                                   
Accrued expenses   (1,892)   (2,620)   (8,542)   (510)   (1,800)   (1,771)   (1,491)
Tenant Deposits   1,806    1,745    -    4,785    2,145    2,243    3,443 
Due to (from) related parties   554    10,542    44,606    11,902    322,112    5,545    (3,560)
Net cash provided by (used in) operating activities   615    469    3,782    201    307,486    4,830    (11,844)
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    -    -    -    (302,083)   -    - 
Net proceeds from the issuance of membership units   -    (100)   -    (800)   (100)   (1,400)   - 
Distributions   (2,681)   (4,057)   (2,321)   (4,398)   (3,353)   (10,856)   (5,749)
Net cash provided by (used in) financing activities   (2,681)   (4,157)   (2,321)   (5,198)   (305,535)   (12,256)   (5,749)
Net change in cash   (2,065)   (3,688)   1,461    (4,997)   1,951    (7,426)   (17,592)
Cash at beginning of year   4,997    3,688    329    4,997    -    18,140    18,533 
Cash at end of year  $2,931   $-   $1,789   $-   $1,951   $10,714   $941 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $5,758   $6,838   $8,870   $5,672   $8,133   $-   $8,121 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $-   $-   $-   $-   $103,950   $-   $- 
Deemed contribution from Manager  $-   $-   $-   $4,556   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-261

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Dolly   Dops   Dorchester   Dunbar   Duncan   Eagle   Eastfair 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(10,084)  $(3,450)  $(12,469)  $(24,390)  $-   $(771)  $(18,065)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   18,952    5,149    9,454    9,550    -    8,130    5,912 
Amortization   -    -    -    -    -    115    75 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    (3,658)   (1,895)   -    -    - 
Deposits   (6,390)   -    (2,195)   (2,996)   -    (1,995)   (3,590)
Prepaid expenses   2,078    895    2,615    459    -    3,823    3,217 
Due from (to) third party property managers   (9,490)   (8,809)   (6,054)   (1,111)   -    494    5,315 
Increase (decrease) in liabilities                                   
Accrued expenses   (3,242)   2,754    4,718    (1,411)   (896)   (44)   (1,078)
Tenant Deposits   6,390    2,093    2,195    2,996    -    1,995    3,590 
Due to (from) related parties   13,906    7,799    16,425    28,624    896    3,100    (3,262)
Net cash provided by (used in) operating activities   12,119    6,431    11,031    9,826    -    14,846    (7,886)
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    (210,543)   -    -    -    -    - 
Net proceeds from the issuance of membership units   (6,350)   221,871    (1,000)   (3,700)   -    -    (0)
Distributions   (17,389)   (8,422)   (11,622)   (8,120)   -    (8,529)   (5,169)
Net cash provided by (used in) financing activities   (23,739)   2,905    (12,622)   (11,820)   -    (8,529)   (5,169)
Net change in cash   (11,620)   9,336    (1,592)   (1,994)   -    6,317    (13,055)
Cash at beginning of year   23,914    -    10,872    2,823    -    2,681    16,361 
Cash at end of year  $12,293   $9,336   $9,281   $829   $-   $8,998   $3,306 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $-   $-   $-   $-   $9,059   $7,012 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $-   $205,000   $-   $-   $-   $-   $- 
Deemed contribution from Manager  $-   $(262)  $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-262

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Eastwood   Elevation   Ella   Ellen   Elm   Emporia   Ensenada 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(8,970)  $(30,726)  $(13,580)  $(12,011)  $(13,457)  $(25,546)  $(7,116)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   2,189    8,013    5,978    2,269    4,600    9,751    13,332 
Amortization   -    68    1,820    -    52    86    123 
Credit loss expense (recovery)   -    847    -    -    -    35,955    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    (4,302)   -    -    (404)   -    (3,295)
Deposits   (2,295)   (3,990)   (1,795)   (2,693)   (1,495)   (2,495)   (3,295)
Prepaid expenses   245    5,782    469    350    4,328    8,110    4,123 
Due from (to) third party property managers   (73)   (1,580)   (3,541)   (131)   532    (36,034)   (9,732)
Increase (decrease) in liabilities                                   
Accrued expenses   3,485    (3,731)   6,885    6,710    (20)   (7,503)   (2,087)
Tenant Deposits   2,295    3,990    1,795    2,693    1,495    2,495    3,295 
Due to (from) related parties   11,949    18,236    14,232    4,722    1,573    12,758    9,047 
Net cash provided by (used in) operating activities   8,825    (7,393)   12,263    1,909    (2,797)   (2,423)   4,395 
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   (328,574)   -    (269,164)   (255,556)   -    -    - 
Net proceeds from the issuance of membership units   346,808    -    283,279    274,662    -    (100)   (300)
Distributions   -    (3,268)   (10,117)   (2,675)   (3,366)   (4,728)   (9,710)
Net cash provided by (used in) financing activities   18,233    (3,268)   3,998    16,432    (3,366)   (4,828)   (10,010)
Net change in cash   27,058    (10,661)   16,261    18,340    (6,163)   (7,251)   (5,615)
Cash at beginning of year   -    11,215    -    -    7,318    7,584    24,616 
Cash at end of year  $27,058   $554   $16,261   $18,340   $1,155   $333   $19,001 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $8,257   $5,844   $-   $4,393   $9,580   $15,313 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $318,280   $-   $260,000   $249,500   $-   $-   $- 
Deemed contribution from Manager  $1,136   $4,496   $896   $1,391   $-   $-   $7,063 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-263

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Falcon   Felix   Fenwick   Fletcher   Folly   Forest   Foster 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(1,362)  $(5,397)  $(7,121)  $(7,696)  $(16,113)  $(26,635)  $(4,850)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   8,143    3,185    4,120    1,608    10,253    9,646    4,307 
Amortization   115    -    -    -    -    82    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    (3,146)   (2,495)   - 
Deposits   (1,950)   (2,393)   (2,095)   (1,395)   (2,695)   (2,595)   (2,349)
Prepaid expenses   4,145    334    518    127    2,185    5,092    327 
Due from (to) third party property managers   (73)   (6,432)   (5,591)   (3,674)   (6,804)   2,426    (6,960)
Increase (decrease) in liabilities                                   
Accrued expenses   425    6,672    6,085    2,383    3,719    (1,512)   11,021 
Tenant Deposits   1,950    2,393    2,095    1,395    2,695    2,595    2,349 
Due to (from) related parties   1,767    6,074    10,956    8,269    22,108    14,071    13,482 
Net cash provided by (used in) operating activities   13,161    4,436    8,967    1,016    12,202    675    17,327 
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    (255,457)   (309,244)   (181,181)   -    -    (323,311)
Net proceeds from the issuance of membership units   (200)   273,851    328,106    199,773    -    (400)   344,939 
Distributions   (8,114)   (6,215)   (7,455)   -    (10,874)   (4,544)   (9,332)
Net cash provided by (used in) financing activities   (8,314)   12,179    11,406    18,592    (10,874)   (4,944)   12,295 
Net change in cash   4,846    16,615    20,374    19,609    1,328    (4,270)   29,623 
Cash at beginning of year   8,945    -    -    -    8,390    5,242    - 
Cash at end of year  $13,791   $16,615   $20,374   $19,609   $9,718   $972   $29,623 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $9,059   $-   $-   $-   $-   $10,604   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $-   $248,000   $300,000   $176,000   $-   $-   $313,140 
Deemed contribution from Manager  $-   $(296)  $388   $(354)  $-   $7,441   $1,704 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-264

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Franklin   Gardens   General   Goose   Grant   Greenhill   Gretal 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(15,329)  $(7,059)  $(21,211)  $(730)  $(1,776)  $(10,844)  $(8,705)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   3,852    6,062    3,618    7,579    8,902    8,929    12,419 
Amortization   -    59    -    109    90    82    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    4,304    -    -    -    -    - 
Deposits   (2,095)   (1,869)   (2,495)   (1,950)   -    (3,119)   (2,395)
Prepaid expenses   523    4,238    467    3,839    6,229    6,317    1,639 
Due from (to) third party property managers   (2,528)   (1,439)   2,403    (150)   (12,043)   (11,043)   (7,145)
Increase (decrease) in liabilities                                   
Accrued expenses   8,266    (572)   7,757    (149)   (4,490)   (1,617)   5,677 
Tenant Deposits   2,095    1,869    2,495    1,950    -    3,119    2,395 
Due to (from) related parties   1,056    (990)   7,048    1,716    347    2,980    (186)
Net cash provided by (used in) operating activities   (4,159)   4,603    82    12,213    (2,741)   (5,197)   3,700 
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   (308,089)   -    (325,916)   -    -    -    - 
Net proceeds from the issuance of membership units   327,859    (200)   346,088    (500)   -    (4,000)   - 
Distributions   (3,194)   (5,403)   (4,120)   (9,163)   (6,960)   (6,878)   (17,786)
Net cash provided by (used in) financing activities   16,576    (5,603)   16,052    (9,663)   (6,960)   (10,878)   (17,786)
Net change in cash   12,417    (1,000)   16,134    2,550    (9,701)   (16,075)   (14,087)
Cash at beginning of year   -    3,979    -    9,998    16,831    17,898    35,493 
Cash at end of year  $12,417   $2,979   $16,134   $12,548   $7,131   $1,823   $21,406 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $6,543   $-   $8,440   $10,126   $8,909   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $300,000   $-   $315,000   $-   $-   $-   $- 
Deemed contribution from Manager  $1,536   $-   $970   $-   $5,067   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-265

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Grove   Hadden   Hansard   Hansel   Hargrave   Harrison   Henry 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(5,583)  $2,311   $(449)  $(17,569)  $(5,926)  $(7,452)  $(22,302)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   8,803    6,007    7,644    11,127    2,141    12,574    11,823 
Amortization   64    61    -    160    -    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    -    -    (3,767)   (2,205)
Deposits   (1,869)   (1,645)   (2,450)   (2,095)   -    (3,145)   (2,450)
Prepaid expenses   4,164    3,892    1,720    5,108    199    6,557    473 
Due from (to) third party property managers   (5,478)   (9,978)   (6,369)   (6,238)   610    (8,695)   1,147 
Increase (decrease) in liabilities                                   
Accrued expenses   (3,504)   (1,011)   7,570    (320)   2,986    (2,337)   (7,598)
Tenant Deposits   1,869    1,645    2,450    2,095    -    3,145    2,450 
Due to (from) related parties   3,254    1,804    12,110    1,613    452    15,024    13,550 
Net cash provided by (used in) operating activities   1,719    3,087    22,226    (6,120)   461    11,904    (5,112)
Cash Flows from financing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    -    (312,087)   -    -    -    - 
Net proceeds from the issuance of membership units   -    (1,000)   325,232    -    -    (1,100)   (4,250)
Distributions   (3,063)   (6,468)   (12,337)   (8,547)   -    (7,938)   (7,130)
Net cash provided by (used in) financing activities   (3,063)   (7,468)   808    (8,547)   -    (9,038)   (11,380)
Net change in cash   (1,344)   (4,381)   23,034    (14,667)   461    2,865    (16,492)
Cash at beginning of year   1,780    10,521    -    26,990    -    3,443    19,176 
Cash at end of year  $436   $6,140   $23,034   $12,324   $461   $6,309   $2,683 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $7,546   $5,622   $-   $13,542   $-   $15,237   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $-   $-   $302,830   $-   $232,500   $-   $- 
Deemed contribution from Manager  $-   $-   $1,926   $-   $1,843   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-266

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Heritage   Heron   Highland   Hines   Hobbes   Holcomb   Holland 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(7,968)  $(7,367)  $4,590   $814   $(8,747)  $985   $(8,019)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   9,012    8,948    7,884    7,915    2,144    9,757    5,818 
Amortization   76    75    -    -    -    -    62 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   (199)   -    (632)   (1,595)   -    (1,800)   - 
Deposits   (1,995)   (2,369)   (2,843)   (1,845)   -    (2,095)   (2,168)
Prepaid expenses   7,064    3,733    858    609    199    416    3,973 
Due from (to) third party property managers   (2,340)   (10,902)   (6,333)   (4,794)   726    (222)   (5,536)
Increase (decrease) in liabilities                                   
Accrued expenses   (2,149)   (2,354)   (2,106)   (1,005)   2,974    (3,946)   682 
Tenant Deposits   1,995    2,369    2,843    1,845    -    2,095    2,168 
Due to (from) related parties   11,969    12,153    310,976    5,738    6,529    18,656    3,929 
Net cash provided by (used in) operating activities   15,465    4,286    315,237    7,682    3,824    23,845    909 
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    -    (295,567)   -    (241,437)   -    - 
Net proceeds from the issuance of membership units   -    (200)   (1,750)   (1,200)   259,827    (600)   (100)
Distributions   (3,873)   (4,317)   (9,690)   (9,744)   -    (12,268)   (2,931)
Net cash provided by (used in) financing activities   (3,873)   (4,517)   (307,008)   (10,944)   18,390    (12,868)   (3,031)
Net change in cash   11,591    (231)   8,230    (3,262)   22,214    10,977    (2,122)
Cash at beginning of year   12,257    561    -    10,080    -    19,039    2,472 
Cash at end of year  $23,848   $330   $8,230   $6,818   $22,214   $30,016   $350 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $9,718   $12,004   $-   $-   $-   $-   $5,758 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $-   $-   $272,970   $-   $232,500   $-   $- 
Deemed contribution from Manager  $-   $-   $-   $-   $2,001   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-267

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Hollandaise   Holloway   Inglewood   Irene   Jack   Jake   Jefferson 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(4,459)  $(12,530)  $(1,144)  $(8,568)  $(18,048)  $(22,420)  $(2,609)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   10,056    9,344    18,738    1,608    12,754    16,186    6,925 
Amortization   89    99    493    -    97    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   (2,045)   (405)   -    -    (2,495)   (3,795)   - 
Deposits   (2,295)   (3,119)   (3,645)   (1,395)   (2,995)   (2,895)   (2,595)
Prepaid expenses   5,965    4,030    4,930    211    8,004    2,027    2,426 
Due from (to) third party property managers   (16,343)   (8,715)   (10,180)   568    (7,692)   (4,674)   (6,265)
Increase (decrease) in liabilities                                   
Accrued expenses   (1,841)   (2,341)   (1,961)   2,628    (2,799)   (527)   6,853 
Tenant Deposits   2,295    3,119    3,645    1,395    2,995    2,895    2,595 
Due to (from) related parties   17,548    1,349    (8,418)   7,194    14,265    28,235    9,693 
Net cash provided by (used in) operating activities   8,970    (9,170)   2,459    3,642    4,087    15,032    17,024 
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    -    -    (181,181)   -    -    (282,587)
Net proceeds from the issuance of membership units   -    (100)   (2,200)   199,694    -    (8,700)   294,664 
Distributions   (6,248)   (8,705)   (20,277)   -    (5,688)   (17,454)   (11,178)
Net cash provided by (used in) financing activities   (6,248)   (8,805)   (22,477)   18,513    (5,688)   (26,154)   899 
Net change in cash   2,723    (17,975)   (20,018)   22,155    (1,601)   (11,122)   17,923 
Cash at beginning of year   2,675    18,012    32,769    -    7,161    17,446    - 
Cash at end of year  $5,398   $38   $12,751   $22,155   $5,559   $6,324   $17,923 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $9,298   $10,320   $493   $-   $12,769   $-   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $-   $-   $-   $176,000   $-   $-   $273,760 
Deemed contribution from Manager  $-   $10,439   $-   $376   $-   $-   $2,893 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-268

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Jill   Johnny   June   Jupiter   Kawana   Kennesaw   Kenny 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(11,207)  $(9,958)  $(8,807)  $(4,143)  $(1,605)  $1,968   $(3,501)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   10,952    16,096    16,096    5,811    7,572    11,673    18,952 
Amortization   -    492    492    60    73    -    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   (3,805)   (4,503)   (3,295)   -    -    -    (3,095)
Deposits   (2,195)   (3,795)   (3,545)   (1,869)   (2,543)   (2,495)   (3,095)
Prepaid expenses   8,458    1,686    1,699    3,557    4,298    1,711    2,078 
Due from (to) third party property managers   (6,709)   (10,266)   (9,784)   (7,006)   (7,036)   (3,106)   (9,234)
Increase (decrease) in liabilities                                   
Accrued expenses   (1,546)   (1,879)   (2,538)   (975)   (1,578)   (4,324)   (2,915)
Tenant Deposits   2,195    3,795    3,545    1,869    2,543    2,495    3,095 
Due to (from) related parties   16,528    27,722    33,940    3,991    5,899    16,683    12,981 
Net cash provided by (used in) operating activities   12,672    19,389    27,802    1,295    7,622    24,605    15,266 
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   -    (2,520)   (1,800)   (200)   (100)   (850)   (6,500)
Distributions   (8,580)   (17,941)   (18,608)   (3,151)   (5,839)   (13,115)   (17,404)
Net cash provided by (used in) financing activities   (8,580)   (20,461)   (20,408)   (3,351)   (5,939)   (13,965)   (23,904)
Net change in cash   4,092    (1,072)   7,394    (2,056)   1,684    10,640    (8,639)
Cash at beginning of year   648    34,856    5,677    6,229    836    17,930    24,406 
Cash at end of year  $4,740   $33,784   $13,071   $4,172   $2,520   $28,570   $15,768 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $13,337   $15,288   $15,288   $6,523   $7,532   $-   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager  $-   $-   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-269

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   KerriAnn   Kessler   Kingsley   Kirkwood   Korin   Lallie   Lanier 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(8,795)  $(9,168)  $(16,108)  $(5,558)  $(503)  $(40,670)  $(12,913)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   9,371    8,217    8,580    7,184    7,646    10,774    10,644 
Amortization   88    -    97    71    -    105    91 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    (1,595)   (440)   (1,595)   -    -    - 
Deposits   (2,369)   (1,595)   (2,869)   (2,393)   (1,995)   -    (2,295)
Prepaid expenses   4,255    5,234    2,783    5,633    768    7,589    7,490 
Due from (to) third party property managers   (4,919)   (4,796)   (7,326)   (4,669)   (5,790)   1,579    235 
Increase (decrease) in liabilities                                   
Accrued expenses   (4,981)   (1,722)   (2,554)   (1,866)   6,561    (2,237)   (1,999)
Tenant Deposits   2,369    1,595    2,869    2,393    1,995    -    2,295 
Due to (from) related parties   4,418    8,500    4,252    5,697    13,267    23,122    (12,166)
Net cash provided by (used in) operating activities   (563)   4,670    (10,717)   4,897    21,948    262    (8,618)
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    -    -    -    (286,463)   -    - 
Net proceeds from the issuance of membership units   -    (2,500)   -    -    298,485    (600)   (100)
Distributions   (3,797)   (3,439)   (7,193)   (3,291)   (11,997)   (3,964)   (5,940)
Net cash provided by (used in) financing activities   (3,797)   (5,939)   (7,193)   (3,291)   25    (4,564)   (6,040)
Net change in cash   (4,361)   (1,269)   (17,910)   1,606    21,973    (4,301)   (14,657)
Cash at beginning of year   14,504    2,740    17,910    1,921    -    4,816    24,791 
Cash at end of year  $10,143   $1,471   $-   $3,527   $21,973   $515   $10,134 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $9,310   $10,641   $10,040   $8,716   $-   $11,228   $12,626 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $-   $-   $-   $-   $278,865   $-   $- 
Deemed contribution from Manager  $4,919   $-   $4,917   $-   $(939)  $4,115   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-270

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Lannister   Latte   Lennox   Lierly   Lily   Limestone   Litton 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(5,207)  $1,112   $(12,583)  $2,712   $(10,132)  $(25,061)  $(6,999)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   6,054    10,022    5,956    5,864    14,986    8,046    8,826 
Amortization   102    -    72    192    103    76    867 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    -    (1,167)   (155)   (1,881)   (4,390)
Deposits   (1,943)   (3,293)   (1,695)   (1,750)   (2,395)   (3,293)   (2,445)
Prepaid expenses   5,540    1,477    447    (101)   9,456    2,683    1,258 
Due from (to) third party property managers   (4,094)   (9,945)   (3,560)   (831)   (7,687)   5,182    (6,564)
Increase (decrease) in liabilities                                   
Accrued expenses   (2,757)   (490)   987    2,925    (4,761)   (5,252)   2,053 
Tenant Deposits   1,943    3,293    1,695    1,750    2,395    3,293    2,445 
Due to (from) related parties   572    7,195    (1,625)   (1,670)   (32,133)   7,969    12,579 
Net cash provided by (used in) operating activities   210    9,371    (10,307)   7,925    (30,324)   (8,239)   7,630 
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units   (800)   (5,700)   -    -    (600)   (200)   (100)
Distributions   (2,845)   (12,417)   (6,780)   (8,416)   (5,531)   (4,524)   (9,420)
Net cash provided by (used in) financing activities   (3,645)   (18,117)   (6,780)   (8,416)   (6,131)   (4,724)   (9,520)
Net change in cash   (3,434)   (8,746)   (17,086)   (491)   (36,455)   (12,963)   (1,890)
Cash at beginning of year   4,232    17,864    21,323    21,568    41,852    14,859    10,902 
Cash at end of year  $797   $9,117   $4,237   $21,077   $5,397   $1,897   $9,012 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $7,176   $-   $6,535   $5,407   $12,174   $8,504   $10,385 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager  $-   $-   $-   $-   $5,715   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-271

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Longwoods   Lookout   Loretta   Louis   Louise   Lovejoy   Luna 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(9,881)  $2,382   $(4,476)  $(5,396)  $(3,689)  $(15,596)  $(17,548)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   3,702    9,483    18,876    3,701    7,578    8,140    5,912 
Amortization   -    -    -    -    71    76    75 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    (1,895)   -    -    -    -    - 
Deposits   (1,995)   (2,145)   (3,445)   (1,895)   (2,369)   (1,995)   (1,750)
Prepaid expenses   532    974    2,749    562    4,793    5,944    3,293 
Due from (to) third party property managers   (3,958)   (5,827)   (8,996)   (6,847)   (6,765)   346    3,791 
Increase (decrease) in liabilities                                   
Accrued expenses   9,648    (583)   (3,281)   5,359    238    (5,391)   (1,724)
Tenant Deposits   1,995    2,145    3,445    1,895    2,369    1,995    1,750 
Due to (from) related parties   8,603    1,819    10,990    9,854    (9,495)   7,535    (565)
Net cash provided by (used in) operating activities   8,645    6,353    15,861    7,232    (7,269)   1,053    (6,766)
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   (277,896)   -    -    (277,868)   -    -    - 
Net proceeds from the issuance of membership units   296,948    (1,000)   (11,100)   299,924    -    -    - 
Distributions   (6,106)   (11,209)   (17,825)   (6,159)   (7,146)   (5,515)   (5,834)
Net cash provided by (used in) financing activities   12,946    (12,209)   (28,925)   15,897    (7,146)   (5,515)   (5,834)
Net change in cash   21,591    (5,856)   (13,064)   23,129    (14,415)   (4,462)   (12,601)
Cash at beginning of year   -    15,181    23,875    -    22,275    5,439    15,413 
Cash at end of year  $21,591   $9,326   $10,811   $23,129   $7,859   $977   $2,813 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $-   $-   $-   $8,033   $6,866   $7,013 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $270,000   $-   $-   $270,300   $-   $-   $- 
Deemed contribution from Manager  $370   $-   $-   $106   $-   $-   $4,172 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-272

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Lurleen   Madison   Mae   Magnolia   Malbec   Mammoth   Marcelo 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $(15,526)  $(17,166)  $1,170   $(5,975)  $(12,772)  $(27,818)  $(1,801)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   9,329    5,655    9,728    8,308    8,776    9,371    7,822 
Amortization   550    93    -    142    134    84    - 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    -    (1,907)   (140)   (50)   -    (3,390)
Deposits   (1,695)   (1,449)   (4,190)   (1,795)   (2,195)   (2,095)   (1,945)
Prepaid expenses   972    3,363    1,775    4,217    1,385    5,514    870 
Due from (to) third party property managers   3,154    2,159    (12,854)   (1,984)   5,721    7,912    (4,994)
Increase (decrease) in liabilities                                   
Accrued expenses   (8,912)   (2,366)   4,582    (1,760)   (108)   (2,984)   (1,722)
Tenant Deposits   1,695    1,449    4,190    1,795    2,195    2,095    1,945 
Due to (from) related parties   106,276    5,846    7,522    21,941    654    4,324    9,992 
Net cash provided by (used in) operating activities   95,843    (2,415)   10,017    24,749    3,740    (3,595)   6,777 
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   (223,902)   -    -    -    -    -    - 
Net proceeds from the issuance of membership units   136,159    -    (10,100)   (100)   -    -    (100)
Distributions   (7,990)   (3,539)   (16,325)   (3,477)   (9,099)   (3,513)   (14,860)
Net cash provided by (used in) financing activities   (95,733)   (3,539)   (26,425)   (3,577)   (9,099)   (3,513)   (14,960)
Net change in cash   109    (5,954)   (16,408)   21,172    (5,358)   (7,108)   (8,183)
Cash at beginning of year   -    8,751    29,828    3,512    19,049    12,991    23,489 
Cash at end of year  $109   $2,797   $13,420   $24,684   $13,690   $5,883   $15,306 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $8,279   $7,160   $-   $9,985   $9,781   $11,389   $- 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $121,000   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager  $-   $3,887   $-   $-   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-273

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

   Marie   Marietta   Marion   Marple   Martell   Mary   Matchingham 
                             
Cash Flows from Operating Activities:                            
Net income (loss)  $334   $(16,367)  $(14,649)  $(8,623)  $(19,607)  $(6,990)  $(7,090)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                   
Depreciation   8,062    8,289    3,963    2,412    3,572    3,732    5,825 
Amortization   -    -    -    -    -    -    62 
Credit loss expense (recovery)   -    -    -    -    -    -    - 
Loss on sale of property   -    -    -    -    -    -    - 
(Increase) Decrease in assets                                   
Other receivables   -    (2,095)   -    -    -    -    - 
Deposits   (2,745)   (2,095)   (1,795)   (2,093)   -    (2,095)   (1,795)
Prepaid expenses   1,865    3,129    1,169    222    563    481    1,851 
Due from (to) third party property managers   (7,341)   382    (2,989)   (3,027)   1,276    (5,920)   (6,841)
Increase (decrease) in liabilities                                   
Accrued expenses   8,326    (2,019)   7,641    5,260    4,256    7,434    (1,711)
Tenant Deposits   2,745    2,095    1,795    2,093    -    2,095    1,795 
Due to (from) related parties   13,090    18,620    11,055    6,919    9,488    10,460    1,783 
Net cash provided by (used in) operating activities   24,335    9,939    6,190    3,163    (452)   9,197    (6,121)
Cash Flows from investing activities                                   
Proceeds from sale of property   -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities   -    -    -    -    -    -    - 
Cash flows from financing activities                                   
Repayments of amounts due to related party   (328,885)   -    (262,733)   (181,129)   (268,166)   (280,055)   - 
Net proceeds from the issuance of membership units   341,482    (3,000)   281,169    196,682    286,198    293,203    - 
Distributions   (14,072)   (7,088)   (3,043)   (4,895)   (3,408)   (6,668)   (6,502)
Net cash provided by (used in) financing activities   (1,475)   (10,088)   15,393    10,658    14,624    6,480    (6,502)
Net change in cash   22,860    (150)   21,583    13,821    14,172    15,677    (12,623)
Cash at beginning of year   -    1,248    -    -    -    -    20,963 
Cash at end of year  $22,860   $1,099   $21,583   $13,821   $14,172   $15,677   $8,340 
Cash paid for income taxes  $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses  $-   $10,077   $-   $-   $-   $-   $5,733 
                                    
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property  $318,500   $-   $255,000   $176,000   $260,000   $271,280   $- 
Deemed contribution from Manager  $3,438   $-   $2,316   $1,947   $-   $3,112   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-274

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    McGregor   McLovin   Meadow   Mimosa   Mojave   Murphy   Mycroft 
                              
Cash Flows from Operating Activities:                             
Net income (loss)   $3,610   $(12,407)  $(10,045)  $(3,570)  $(2,340)  $(8,400)  $(6,390)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    8,264    12,438    8,820    5,910    7,049    8,171    2,466 
Amortization    -    117    79    672    133    77    - 
Credit loss expense (recovery)    -    -    -    -    -    -    - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    (1,895)   (2,995)   (1,770)   (847)   -    -    - 
Deposits    (1,895)   (3,495)   -    (1,495)   (1,096)   (2,295)   (1,395)
Prepaid expenses    150    12,486    4,325    749    2,894    4,084    226 
Due from (to) third party property managers    (5,471)   (8,910)   (8,019)   (7,669)   (725)   (9,006)   (3,995)
Increase (decrease) in liabilities                                    
Accrued expenses    (1,061)   (6,513)   (2,426)   (8,472)   (2,373)   (1,999)   5,363 
Tenant Deposits    1,895    3,495    -    1,495    1,596    2,295    1,395 
Due to (from) related parties    9,759    3,232    9,916    246,956    7,277    2,602    7,143 
Net cash provided by (used in) operating activities    13,355    (2,553)   880    233,729    12,416    (4,471)   4,813 
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    -    -    -    (220,582)   -    -    (185,222)
Net proceeds from the issuance of membership units    (2,900)   (400)   (100)   (3,510)   (700)   (100)   200,772 
Distributions    (12,117)   (9,007)   (4,453)   (7,195)   (6,539)   (7,832)   (4,996)
Net cash provided by (used in) financing activities    (15,017)   (9,407)   (4,553)   (231,287)   (7,239)   (7,932)   10,554 
Net change in cash    (1,662)   (11,960)   (3,673)   2,442    5,177    (12,403)   15,368 
Cash at beginning of year    11,409    16,279    4,686    -    5,449    20,675    - 
Cash at end of year   $9,748   $4,318   $1,014   $2,442   $10,626   $8,272   $15,368 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $-   $14,358   $8,406   $7,793   $6,971   $8,109   $- 
                                     
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $-   $-   $-   $124,700   $-   $-   $180,000 
Deemed contribution from Manager   $-   $-   $4,033   $-   $-   $-   $252 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-275

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Nugget   Odessa   Olive   Oly   Onyx   Oscar   Osceola 
                              
Cash Flows from Operating Activities:                             
Net income (loss)   $(4,505)  $(37,338)  $(16,749)  $(11,890)  $(7,857)  $(18,889)  $(21,922)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    15,387    14,664    7,377    12,529    5,494    3,055    3,850 
Amortization    -    119    67    117    -    -    - 
Credit loss expense (recovery)    -    -    -    -    -    -    - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    (2,795)   (2,795)   (179)   (5,690)   -    -    - 
Deposits    (3,295)   (4,193)   (1,895)   (2,795)   (2,295)   -    (1,696)
Prepaid expenses    600    8,825    4,058    7,779    -    752    2,196 
Due from (to) third party property managers    (8,428)   221    (1,622)   (7,787)   (2,183)   23,223    (35)
Increase (decrease) in liabilities                                    
Accrued expenses    538    (7,121)   1,179    (5,150)   7,699    6,425    7,840 
Tenant Deposits    3,295    4,193    1,895    2,795    2,295    -    1,696 
Due to (from) related parties    20,763    21,729    2,264    10,866    (1,522)   14,438    7,736 
Net cash provided by (used in) operating activities    21,561    (1,696)   (3,605)   775    1,630    29,004    (336)
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    -    -    -    -    (335,162)   (257,612)   (289,059)
Net proceeds from the issuance of membership units    (5,200)   (100)   (600)   -    355,119    276,320    309,740 
Distributions    (18,825)   (5,688)   (5,734)   (8,518)   (7,686)   (2,986)   (3,350)
Net cash provided by (used in) financing activities    (24,025)   (5,788)   (6,334)   (8,518)   12,270    15,722    17,331 
Net change in cash    (2,465)   (7,485)   (9,939)   (7,743)   13,900    44,726    16,995 
Cash at beginning of year    18,287    8,131    10,245    20,613    -    -    - 
Cash at end of year   $15,822   $647   $306   $12,870   $13,900   $44,726   $16,995 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $-   $14,631   $5,899   $14,385   $-   $-   $- 
                                   
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $-   $-   $-   $-   $325,000   $250,000   $280,000 
Deemed contribution from Manager   $-   $6,512   $6,103   $-   $467   $1,208   $7 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-276

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Osprey   Otoro   Palmer   Patrick   Peanut   Pearl   Pecan 
                              
Cash Flows from Operating Activities:                                    
Net income (loss)   $(2,346)  $(53,334)  $(12,715)  $2,297   $(7,374)  $(28,816)  $2,304 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    10,980    10,984    3,822    6,614    5,929    14,997    5,725 
Amortization    -    94    -    66    62    -    68 
Credit loss expense (recovery)    -    8,385    -    -    -    -    - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    -    (8,385)   -    -    -    -    (1,600)
Deposits    (4,590)   -    -    (1,575)   (2,093)   (2,795)   (3,613)
Prepaid expenses    1,908    7,695    509    (59)   4,120    1,669    (68)
Due from (to) third party property managers    (11,792)   (13,776)   1,230    194    (8,249)   4,998    (940)
Increase (decrease) in liabilities                                    
Accrued expenses    2,649    (5,430)   5,549    1,943    240    (1,637)   2,821 
Tenant Deposits    4,590    -    -    1,575    2,093    2,795    3,613 
Due to (from) related parties    7,169    58,457    7,986    (10,919)   4,748    24,550    (2,159)
Net cash provided by (used in) operating activities    8,567    4,690    6,380    137    (524)   15,761    6,151 
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    -    -    (301,518)   -    -    -    - 
Net proceeds from the issuance of membership units    -    (1,000)   320,984    -    (950)   (4,500)   - 
Distributions    (11,687)   (4,091)   (3,472)   (5,315)   (4,028)   (21,500)   (8,446)
Net cash provided by (used in) financing activities    (11,687)   (5,091)   15,994    (5,315)   (4,978)   (26,000)   (8,446)
Net change in cash    (3,119)   (401)   22,375    (5,178)   (5,502)   (10,239)   (2,295)
Cash at beginning of year    15,951    2,223    -    14,028    5,669    34,369    21,146 
Cash at end of year   $12,831   $1,822   $22,375   $8,850   $167   $24,130   $18,851 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $-   $10,727   $-   $4,374   $8,433   $-   $4,557 
                                   
Supplemental disclosure of non-cash investing and financing activities:                                   
Advance from related party for acquisition of property   $-   $-   $293,000   $-   $-   $-   $- 
Deemed contribution from Manager   $-   $-   $(263)  $-   $-   $16,791   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-277

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Peterson   Piedmont   Pinot   Pioneer   Plumtree   Point   Porthos 
                              
Cash Flows from Operating Activities:                             
Net income (loss)   $(9,482)  $(11,382)  $(4,365)  $(3,937)  $5,369   $(8,566)  $(6,600)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    1,552    10,526    8,859    16,234    5,535    10,500    3,456 
Amortization    -    -    143    -    164    92    - 
Credit loss expense (recovery)    -    -    -    -    -    -    - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    -    (2,295)   -    -    -    (797)   - 
Deposits    (1,595)   (2,295)   (2,195)   (3,445)   (3,000)   (2,295)   (2,295)
Prepaid expenses    239    7,678    2,139    791    (78)   8,562    948 
Due from (to) third party property managers    1,809    (7,337)   2,850    (9,232)   (1,694)   (9,586)   (4,125)
Increase (decrease) in liabilities                                    
Accrued expenses    2,811    (2,965)   (922)   1,401    2,005    (2,533)   11,717 
Tenant Deposits    1,595    2,295    2,195    3,445    3,000    2,295    2,295 
Due to (from) related parties    6,029    11,814    (3,066)   4,313    267    1,224    12,371 
Net cash provided by (used in) operating activities    2,958    6,039    5,637    9,570    11,569    (1,103)   17,768 
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    (233,055)   -    -    -    -    -    (311,308)
Net proceeds from the issuance of membership units    251,214    (100)   (100)   (2,500)   -    (1,500)   330,000 
Distributions    -    (5,928)   (9,166)   (15,647)   (10,228)   (6,330)   (8,220)
Net cash provided by (used in) financing activities    18,159    (6,028)   (9,266)   (18,147)   (10,228)   (7,830)   10,472 
Net change in cash    21,117    11    (3,629)   (8,577)   1,340    (8,934)   28,240 
Cash at beginning of year    -    3,075    20,217    16,528    22,430    17,871    - 
Cash at end of year   $21,117   $3,086   $16,588   $7,950   $23,770   $8,937   $28,240 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $-   $12,753   $9,889   $-   $3,226   $12,810   $- 
                                   
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $225,790   $-   $-   $-   $-   $-   $302,000 
Deemed contribution from Manager   $2,471   $-   $-   $-   $-   $-   $2,033 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-278

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Quincy   Redondo   Regency   Reginald   Reynolds   Ribbonwalk   Richardson 
                              
Cash Flows from Operating Activities:                             
Net income (loss)   $(18,776)  $(17,407)  $(2,582)  $889   $5,495   $(7,085)  $(434)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    15,029    8,617    6,954    13,642    11,810    8,791    8,646 
Amortization    492    919    687    493    -    81    - 
Credit loss expense (recovery)    -    -    -    -    -    -    - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    (4,156)   -    -    (2,695)   -    -    (3,990)
Deposits    (2,695)   (2,695)   (3,793)   (4,293)   (2,495)   (1,995)   (1,995)
Prepaid expenses    6,364    1,251    2,435    3,631    1,950    4,082    1,188 
Due from (to) third party property managers    (7,283)   (8,413)   (6,577)   (4,750)   (2,325)   (12,780)   (5,040)
Increase (decrease) in liabilities                                    
Accrued expenses    (1,969)   (2,961)   2,595    (6,364)   (5,107)   (3,677)   744 
Tenant Deposits    2,695    2,695    3,793    4,293    2,495    1,995    1,995 
Due to (from) related parties    21,264    24,691    131,761    19,621    20,812    7,796    15,566 
Net cash provided by (used in) operating activities    10,964    6,696    135,274    24,466    32,635    (2,793)   16,680 
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    -    -    (281,390)   -    -    -    - 
Net proceeds from the issuance of membership units    (15,300)   (300)   164,047    (1,400)   (300)   -    (500)
Distributions    (16,191)   (6,765)   (8,949)   (13,048)   (15,238)   (4,026)   (13,634)
Net cash provided by (used in) financing activities    (31,491)   (7,065)   (126,292)   (14,448)   (15,538)   (4,026)   (14,134)
Net change in cash    (20,527)   (369)   8,982    10,018    17,097    (6,819)   2,546 
Cash at beginning of year    27,074    1,721    -    2,299    17,087    7,106    16,699 
Cash at end of year   $6,547   $1,352   $8,982   $12,317   $34,185   $287   $19,245 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $4,708   $11,352   $10,299   $493   $-   $8,761   $- 
                                   
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $-   $-   $151,250   $-   $-   $-   $- 
Deemed contribution from Manager   $-   $-   $-   $-   $-   $4,402   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-279

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Richmond   Ridge   Ritter   River   Riverwalk   Rooney   Roseberry 
                              
Cash Flows from Operating Activities:                             
Net income (loss)   $(8,836)  $(8,753)  $(25,916)  $(9,266)  $4,364   $(7,410)  $(3,749)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    2,616    5,983    13,864    7,323    10,855    8,844    9,026 
Amortization    -    72    -    68    -    90    78 
Credit loss expense (recovery)    -    -    -    -    -    -    - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    -    -    -    -    (4,790)   (2,095)   (1,630)
Deposits    (2,695)   (2,543)   (3,500)   (2,993)   (4,790)   (2,095)   (3,443)
Prepaid expenses    347    2,284    1,545    2,414    1,140    5,308    1,224 
Due from (to) third party property managers    2,076    (10,377)   (2,143)   (3,469)   (9,621)   (6,628)   (8,910)
Increase (decrease) in liabilities                                    
Accrued expenses    3,798    (416)   (5,101)   (1,527)   (4,122)   (2,136)   (3,912)
Tenant Deposits    2,695    2,543    3,500    2,993    4,790    2,095    3,443 
Due to (from) related parties    2,672    (841)   20,949    1,007    21,974    9,750    5,877 
Net cash provided by (used in) operating activities    2,672    (12,048)   3,200    (3,449)   19,800    5,722    (1,996)
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units    -    -    (300)   (500)   (8,400)   (200)   (100)
Distributions    -    (4,576)   (11,609)   (8,131)   (11,738)   (4,685)   (6,872)
Net cash provided by (used in) financing activities    -    (4,576)   (11,909)   (8,631)   (20,138)   (4,885)   (6,972)
Net change in cash    2,672    (16,624)   (8,709)   (12,080)   (338)   837    (8,968)
Cash at beginning of year    -    17,882    14,795    21,045    12,003    3,150    11,158 
Cash at end of year   $2,672   $1,258   $6,086   $8,965   $11,665   $3,987   $2,190 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $-   $6,963   $-   $8,035   $-   $10,654   $9,848 
                                     
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $379,880   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager   $2,682   $-   $-   $-   $-   $5,004   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-280

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Rosewood   Roxy   Saddlebred   Saint   Sajni   Salem   Salinas 
                              
Cash Flows from Operating Activities:                             
Net income (loss)   $(4,408)  $(7,974)  $(16,931)  $(3,584)  $(8,128)  $(6,758)  $(30,883)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    7,438    8,958    15,278    7,562    8,995    8,775    5,682 
Amortization    72    80    108    78    -    137    - 
Credit loss expense (recovery)    -    -    -    -    -    -    - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    (785)   (1,995)   (8,243)   (3,990)   -    -    - 
Deposits    (2,768)   (1,995)   (4,168)   (2,495)   (2,745)   (2,195)   (1,945)
Prepaid expenses    3,357    4,336    6,508    6,637    953    2,392    251 
Due from (to) third party property managers    (7,098)   (6,210)   (8,882)   (5,730)   (7,579)   (2,529)   10,745 
Increase (decrease) in liabilities                                    
Accrued expenses    (873)   (1,542)   (3,925)   (10,477)   5,752    (38)   4,818 
Tenant Deposits    2,768    1,995    4,168    2,495    2,745    2,195    1,945 
Due to (from) related parties    5,978    9,856    9,716    12,012    5,929    376    16,769 
Net cash provided by (used in) operating activities    3,682    5,511    (6,372)   2,509    5,922    2,353    7,382 
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    -    -    -    -    (309,457)   -    (235,663)
Net proceeds from the issuance of membership units    -    (400)   -    -    323,100    -    251,086 
Distributions    (3,260)   (3,727)   (5,341)   (7,243)   (12,607)   (8,253)   (8,425)
Net cash provided by (used in) financing activities    (3,260)   (4,127)   (5,341)   (7,243)   1,036    (8,253)   6,998 
Net change in cash    422    1,383    (11,713)   (4,734)   6,958    (5,900)   14,381 
Cash at beginning of year    1,800    2,685    21,247    26,429    -    16,872    - 
Cash at end of year   $2,222   $4,069   $9,534   $21,695   $6,958   $10,972   $14,381 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $9,050   $10,554   $12,993   $8,293   $-   $9,967   $- 
                                     
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $-   $-   $-   $-   $300,000   $-   $230,000 
Deemed contribution from Manager   $-   $-   $5,476   $-   $1,424   $-   $948 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-281

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Saturn   Scepter   Sequoyah   Shallowford   Shoreline   Sigma   Simon 
                              
Cash Flows from Operating Activities:                             
Net income (loss)   $(7,498)  $(7,993)  $(19,998)  $(10,785)  $(17,079)  $(8,282)  $(8,179)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    8,560    6,475    6,801    9,928    8,520    10,392    3,314 
Amortization    60    72    672    -    96    92    - 
Credit loss expense (recovery)    -    -    -    -    -    -    - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    -    -    -    (2,739)   -    (5,049)   - 
Deposits    (1,806)   (1,795)   (1,795)   (2,545)   (2,295)   (2,869)   (2,095)
Prepaid expenses    3,057    3,924    1,155    7,108    2,482    6,850    470 
Due from (to) third party property managers    (5,527)   (4,967)   (5,267)   (6,043)   (4,747)   (6,385)   (5,614)
Increase (decrease) in liabilities                                    
Accrued expenses    249    (1,504)   2,723    (1,882)   (2,169)   (4,734)   8,259 
Tenant Deposits    1,806    1,795    1,795    2,545    2,295    2,869    2,095 
Due to (from) related parties    2,482    5,300    12,029    14,993    7,079    (7,603)   10,661 
Net cash provided by (used in) operating activities    1,383    1,307    (1,884)   10,580    (5,819)   (14,719)   8,911 
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    -    -    -    -    -    -    (298,435)
Net proceeds from the issuance of membership units    (600)   (1,100)   -    (300)   (100)   -    315,180 
Distributions    (3,000)   (3,370)   (6,562)   (7,790)   (6,354)   (6,307)   (7,165)
Net cash provided by (used in) financing activities    (3,600)   (4,470)   (6,562)   (8,090)   (6,454)   (6,307)   9,580 
Net change in cash    (2,217)   (3,163)   (8,447)   2,490    (12,274)   (21,025)   18,491 
Cash at beginning of year    6,596    7,959    10,446    1,845    12,274    28,918    - 
Cash at end of year   $4,379   $4,796   $2,000   $4,335   $-   $7,893   $18,491 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $6,523   $7,396   $8,048   $11,991   $9,896   $10,536   $- 
                                     
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $-   $-   $-   $-   $-   $-   $288,960 
Deemed contribution from Manager   $4,071   $4,003   $-   $-   $7,286   $-   $2,221 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-282

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Sims   Soapstone   Sodalis   Spencer   Splash   Spring   Stonebriar 
                              
Cash Flows from Operating Activities:                             
Net income (loss)   $(9,127)  $2,740   $(2,900)  $(9,982)  $(3,603)  $1,566   $(7,129)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    3,749    6,000    7,959    8,313    5,955    6,803    5,574 
Amortization    -    192    -    90    23    -    59 
Credit loss expense (recovery)    -    -    -    -    -    -    - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    -    -    -    -    -    -    - 
Deposits    (2,768)   250    (2,000)   (2,349)   (1,550)   (1,695)   (2,790)
Prepaid expenses    478    (149)   823    3,750    (30)   940    3,101 
Due from (to) third party property managers    (4,951)   (2,669)   (6,337)   (8,147)   (18)   (8,685)   (1,665)
Increase (decrease) in liabilities                                    
Accrued expenses    5,368    1,832    148    (1,814)   2,618    3,268    (1,191)
Tenant Deposits    2,768    1,600    2,000    2,349    1,550    1,695    2,790 
Due to (from) related parties    10,507    (4,121)   9,688    95    (83)   5,579    17,662 
Net cash provided by (used in) operating activities    6,025    5,676    9,381    (7,693)   4,863    9,470    16,411 
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    (281,422)   -    -    -    -    -    - 
Net proceeds from the issuance of membership units    299,872    -    (400)   -    -    (1,100)   - 
Distributions    (6,491)   (7,201)   (9,406)   (8,296)   (8,498)   (10,620)   (2,840)
Net cash provided by (used in) financing activities    11,960    (7,201)   (9,806)   (8,296)   (8,498)   (11,720)   (2,840)
Net change in cash    17,985    (1,526)   (425)   (15,989)   (3,634)   (2,250)   13,571 
Cash at beginning of year    -    18,435    6,342    16,586    17,449    11,480    1,421 
Cash at end of year   $17,985   $16,910   $5,917   $597   $13,815   $9,230   $14,993 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $-   $5,265   $-   $9,109   $4,882   $-   $6,443 
                                     
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $272,900   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager   $1,053   $-   $-   $5,195   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-283

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Sugar   Summerset   Sundance   Sunnyside   Swift   Taylor   Terracotta 
                              
Cash Flows from Operating Activities:                             
Net income (loss)   $(12,832)  $(10,855)  $(16,355)  $3,012   $5,151   $(20,915)  $(9,329)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    8,559    7,528    10,207    5,572    10,575    7,368    7,573 
Amortization    92    80    919    -    -    -    81 
Credit loss expense (recovery)    -    -    -    -    -    (1,246)   - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    -    (5,475)   (4,390)   -    -    (1,445)   (2,095)
Deposits    (3,590)   (2,119)   (2,695)   (1,745)   (2,295)   (1,495)   (3,143)
Prepaid expenses    2,975    2,932    1,200    1,606    (133)   2,140    6,494 
Due from (to) third party property managers    (7,668)   14,178    (14,931)   (4,148)   (2,287)   1,046    (6,562)
Increase (decrease) in liabilities                                    
Accrued expenses    (926)   (2,110)   (6,286)   (1,259)   (4,057)   (2,035)   (3,135)
Tenant Deposits    3,590    2,119    2,695    1,745    2,295    1,495    3,143 
Due to (from) related parties    (2,358)   (2,090)   33,912    11,339    26,639    18,076    6,556 
Net cash provided by (used in) operating activities    (12,158)   4,187    4,276    16,123    35,887    2,989    (418)
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    -    -    -    (228,153)   -    -    - 
Net proceeds from the issuance of membership units    (200)   (100)   (200)   243,594    (500)   (100)   - 
Distributions    (4,846)   (3,033)   (7,395)   (10,542)   (13,428)   (4,142)   (6,981)
Net cash provided by (used in) financing activities    (5,046)   (3,133)   (7,595)   4,899    (13,928)   (4,242)   (6,981)
Net change in cash    (17,205)   1,054    (3,319)   21,022    21,960    (1,253)   (7,399)
Cash at beginning of year    20,024    1,043    10,726    -    11,245    2,567    13,875 
Cash at end of year   $2,820   $2,097   $7,408   $21,022   $33,205   $1,314   $6,476 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $10,060   $7,746   $11,352   $-   $-   $6,904   $8,706 
                                     
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $-   $-   $-   $225,770   $-   $-   $- 
Deemed contribution from Manager   $5,490   $4,742   $-   $(556)  $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-284

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Theodore   Tulip   Tuscan   Tuscarora   Tuxford   Vernon   Walton 
                              
Cash Flows from Operating Activities:                             
Net income (loss)   $(11,999)  $(25,792)  $2,165   $(4,819)  $(10,409)  $(11,481)  $(22,948)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    3,289    8,726    8,879    8,417    7,203    9,650    8,246 
Amortization    -    81    28    -    70    70    492 
Credit loss expense (recovery)    -    10,769    -    -    -    -    - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    -    (6,285)   -    -    -    -    - 
Deposits    (1,995)   (4,390)   (2,295)   (3,295)   (1,895)   (2,843)   (2,095)
Prepaid expenses    470    4,264    209    1,804    13,873    3,437    3,178 
Due from (to) third party property managers    (138)   (15,644)   2,204    (13,419)   (8,658)   (6,371)   (5,502)
Increase (decrease) in liabilities                                    
Accrued expenses    7,881    (2,757)   1,466    5,642    (6,617)   (1,610)   1,179 
Tenant Deposits    1,995    4,390    2,295    3,295    1,895    2,843    2,095 
Due to (from) related parties    7,144    31,015    (8,116)   17,492    8,371    5,745    30,553 
Net cash provided by (used in) operating activities    6,646    4,377    6,835    15,117    3,833    (560)   15,198 
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    (296,211)   -    -    (344,307)   -    -    - 
Net proceeds from the issuance of membership units    313,394    -    -    359,177    -    -    (2,100)
Distributions    (3,392)   (4,485)   (8,391)   (11,682)   (4,219)   (4,528)   (8,983)
Net cash provided by (used in) financing activities    13,791    (4,485)   (8,391)   3,188    (4,219)   (4,528)   (11,083)
Net change in cash    20,437    (107)   (1,556)   18,305    (386)   (5,088)   4,115 
Cash at beginning of year    -    771    18,855    -    746    6,224    483 
Cash at end of year   $20,437   $664   $17,299   $18,305   $360   $1,136   $4,598 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $-   $10,621   $7,227   $-   $6,987   $7,117   $10,173 
                                     
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $286,600   $-   $-   $335,990   $-   $-   $- 
Deemed contribution from Manager   $1,966   $-   $-   $1,971   $-   $-   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-285

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Wave   Weldon   Wellington   Wentworth   Wescott   Westchester   Wildwood 
                              
Cash Flows from Operating Activities:                                    
Net income (loss)   $(36,176)  $(2,942)  $(1,951)  $(3,600)  $(13,271)  $(18,598)  $(248)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    9,164    5,811    12,380    6,833    7,530    9,374    6,063 
Amortization    81    59    -    123    116    91    98 
Credit loss expense (recovery)    -    -    -    -    -    -    - 
Loss on sale of property    -    -    -    -    -    -    - 
(Increase) Decrease in assets                                    
Other receivables    -    -    -    (1,595)   (1,795)   -    (1,595)
Deposits    (2,744)   (2,168)   (2,395)   (3,190)   (4,985)   (3,119)   (1,845)
Prepaid expenses    5,408    2,915    1,347    3,257    4,848    4,057    5,461 
Due from (to) third party property managers    6,698    (8,600)   (1,812)   2,744    1,074    (12,341)   (4,995)
Increase (decrease) in liabilities                                    
Accrued expenses    (3,287)   (2,297)   (3,296)   (3,368)   (2,689)   (2,218)   (922)
Tenant Deposits    2,744    2,168    2,395    3,190    4,985    3,119    1,845 
Due to (from) related parties    23,324    2,982    4,005    7,262    12,480    8,790    2,529 
Net cash provided by (used in) operating activities    5,213    (2,071)   10,673    11,656    8,293    (10,845)   6,391 
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    - 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    - 
Cash flows from financing activities                                    
Repayments of amounts due to related party    -    -    -    -    -    -    - 
Net proceeds from the issuance of membership units    (3,500)   -    (500)   (100)   (100)   (100)   (1,600)
Distributions    (2,118)   (2,960)   (16,506)   (8,495)   (4,440)   (9,957)   (4,841)
Net cash provided by (used in) financing activities    (5,618)   (2,960)   (17,006)   (8,595)   (4,540)   (10,057)   (6,441)
Net change in cash    (405)   (5,031)   (6,333)   3,061    3,754    (20,902)   (49)
Cash at beginning of year    1,737    10,131    27,539    8,400    1,739    20,902    8,765 
Cash at end of year   $1,332   $5,100   $21,206   $11,461   $5,493   $-   $8,715 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $8,761   $5,349   $-   $6,258   $8,291   $9,700   $6,148 
                                     
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $-   $-   $-   $-   $-   $-   $- 
Deemed contribution from Manager   $-   $-   $-   $-   $-   $5,640   $- 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-286

 

 

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2023

 

    Willow   Wilson   Winchester   Windsor   Winston   Wisteria   Consolidated 
                              
Cash Flows from Operating Activities:                             
Net income (loss)   $1,696   $941   $(14,362)  $(5,720)  $(2,254)  $(9,454)  $(2,268,052)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                                    
Depreciation    8,045    11,722    2,806    9,618    9,039    8,416    1,952,621 
Amortization    -    -    -    101    -    77    22,081 
Credit loss expense (recovery)    -    -    -    -    -    -    64,851 
Loss on sale of property    -    -    -    -    -    -    39,763 
(Increase) Decrease in assets                                    
Other receivables    (1,695)   (2,195)   -    -    (2,859)   -    (242,524)
Deposits    (2,195)   (2,445)   (1,895)   (3,893)   (1,795)   (2,095)   (558,347)
Prepaid expenses    1,197    487    426    2,750    1,440    4,759    685,340 
Due from (to) third party property managers    (5,132)   (6,966)   (1,861)   (10,262)   (12,011)   5,459    (1,060,267)
Increase (decrease) in liabilities                                    
Accrued expenses    1,156    1,018    1,948    (2,249)   565    (2,993)   (46,831)
Tenant Deposits    2,195    2,445    1,895    3,893    1,795    2,095    562,789 
Due to (from) related parties    15,793    15,724    15,091    1,457    12,765    (5,876)   2,987,705 
Net cash provided by (used in) operating activities    21,060    20,732    4,048    (4,305)   6,685    388    2,139,129 
Cash Flows from investing activities                                    
Proceeds from sale of property    -    -    -    -    -    -    256,827 
Net cash flows provided by (used in) from investing activities    -    -    -    -    -    -    256,827 
Cash flows from financing activities                                    
Repayments of amounts due to related party    -    -    (273,176)   -    -    -    (14,945,813)
Net proceeds from the issuance of membership units    (4,100)   (5,820)   292,056    (100)   (450)   (400)   14,634,904 
Distributions    (12,169)   (16,460)   -    (10,069)   (14,867)   (4,597)   (1,875,741)
Net cash provided by (used in) financing activities    (16,269)   (22,280)   18,880    (10,169)   (15,317)   (4,997)   (2,186,651)
Net change in cash    4,791    (1,549)   22,928    (14,474)   (8,632)   (4,608)   209,305 
Cash at beginning of year    965    18,254    -    19,324    20,935    15,575    2,322,195 
Cash at end of year   $5,756   $16,705   $22,928   $4,851   $12,303   $10,967   $2,531,500 
Cash paid for income taxes   $-   $-   $-   $-   $-   $-   $- 
Cash paid for interest expenses   $-   $-   $-   $10,623   $-   $9,932   $1,198,358 
                                     
Supplemental disclosure of non-cash investing and financing activities:                                    
Advance from related party for acquisition of property   $-   $-   $265,000   $-   $-   $-   $15,151,585 
Deemed contribution from Manager   $-   $-   $185   $4,416   $-   $-   $237,304 

 

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

 

F-287

 

 

ARRIVED HOMES, LLC AND ITS SERIES

NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS

DECEMBER 31, 2024 AND 2023

 

NOTE 1: NATURE OF OPERATIONS

 

Arrived Homes, LLC (“Arrived Homes”) is a Delaware Series limited liability company formed on July 13, 2020 under the laws of Delaware. Arrived Homes, LLC was formed to permit public investment in individual single family rental homes, each of which will be held by a separate property-owning subsidiary owned by a separate Series of limited liability interests, or “Series,” that Arrived Holdings, Inc. (the “Manager”) established. As a Delaware Series limited liability company, the debts, liabilities, obligations, and expenses incurred, contracted for or otherwise existing with respect to a particular Series are segregated and enforceable only against the assets of such Series, as provided under Delaware law.

 

The following list represents each Arrived Homes, LLC’s Series and each Series’ wholly-owned limited liability company (“LLC”), which was used to acquire the Series’ single family rental property, along with the date the Series was formed and the date that the Series’ LLC acquired the single family rental.

 

Series Name  Name of the wholly-owned subsidiary of the Series  Date Formed  Acquisition Date  Series removed from Arrived Homes
Arrived Homes Series 100, a series of Arrived Homes, LLC (100)  Arrived TN 100, LLC  4/11/2022  4/29/2022 
Arrived Homes Series 101, a series of Arrived Homes, LLC (101)  Arrived TN 101, LLC  5/10/2022  5/31/2022   
Arrived Homes Series Abbington, a series of Arrived Homes, LLC (Abbington)  Arrived TN Abbington, LLC  5/4/2022  5/12/2022   
Arrived Homes Series Abernant, a series of Arrived Homes, LLC (Abernant)  Arrived Homes Series Abernant, a series of Arrived Homes, LLC  7/24/2023  8/16/2023   
Arrived Homes Series Alvin, a series of Arrived Homes, LLC (Alvin)  Arrived TN Alvin, LLC  7/25/2023  8/30/2023   
Arrived Homes Series Amber, a series of Arrived Homes, LLC (Amber)  Arrived NC Amber, LLC  9/3/2021  9/30/2021   
Arrived Homes Series Apollo, a series of Arrived Homes, LLC (Apollo)  Arrived Homes Series Apollo, a series of Arrived Homes, LLC  5/3/2022  5/6/2022   
Arrived Homes Series Aster, a series of Arrived Homes, LLC (Aster)  Arrived AR Aster, LLC  6/15/2022  7/11/2022   
Arrived Homes Series Augusta, a series of Arrived Homes, LLC (Augusta)  Arrived GA Augusta, LLC  5/10/2023  5/25/2023   
Arrived Homes Series Avebury, a series of Arrived Homes, LLC (Avebury)  Arrived AL Avebury, LLC  2/4/2022  2/22/2022   
Arrived Homes Series Avondale, a series of Arrived Homes, LLC (Avondale)  Arrived GA Avondale, LLC  5/3/2023  5/23/2023   
Arrived Homes Series Badminton, a series of Arrived Homes, LLC (Badminton)  Arrived SC Badminton, LLC  5/21/2021  6/18/2021   
Arrived Homes Series Ballinger, a series of Arrived Homes, LLC (Ballinger)  Arrived TN Ballinger, LLC  7/25/2023  11/15/2023   
Arrived Homes Series Bandelier, a series of Arrived Homes, LLC (Bandelier)  Arrived AZ Bandelier, LLC  9/16/2021  10/27/2021   

 

F-288

 

 

Series Name  Name of the wholly-owned subsidiary of the Series  Date Formed  Acquisition Date  Series removed from Arrived Homes
Arrived Homes Series Baron, a series of Arrived Homes, LLC (Baron)  Arrived CO Baron, LLC  4/29/2022  5/10/2022   
Arrived Homes Series Basil, a series of Arrived Homes, LLC (Basil)  Arrived SC Basil, LLC  6/1/2021  6/25/2021   
Arrived Homes Series Bayside, a series of Arrived Homes, LLC (Bayside)  Arrived SC Bayside, LLC  6/15/2021  7/16/2021   
Arrived Homes Series Bazzel, a series of Arrived Homes, LLC (Bazzel)  Arrived SC Bazzel, LLC  5/12/2022  6/10/2022   
Arrived Homes Series Bedford, a series of Arrived Homes, LLC (Bedford)  Arrived SC Bedford, LLC  12/28/2021  2/28/2022   
Arrived Homes Series Bella, a series of Arrived Homes, LLC (Bella)  Arrived VA Bella, LLC  5/15/2023  6/7/2023   
Arrived Homes Series Belle, a series of Arrived Homes, LLC (Belle)  Arrived Homes Series Belle, a series of Arrived Homes, LLC  5/31/2022  6/10/2022   
Arrived Homes Series Belvedere, a series of Arrived Homes, LLC (Belvedere)  Arrived GA Belvedere, LLC  5/4/2023  5/16/2023   
Arrived Homes Series Bergenia, a series of Arrived Homes, LLC (Bergenia)  Arrived Homes Series Bergenia, a series of Arrived Homes, LLC  7/5/2023  7/12/2023   
Arrived Homes Series Blossom, a series of Arrived Homes, LLC (Blossom)  Arrived AR Blossom, LLC  6/15/2022  7/25/2022   
Arrived Homes Series Bonneau, a series of Arrived Homes, LLC (Bonneau)  Arrived SC Bonneau, LLC  6/6/2022  7/21/2022   
Arrived Homes Series Brainerd, a series of Arrived Homes, LLC (Brainerd)  Arrived TN Brainerd, LLC  10/27/2022  11/9/2022   
Arrived Homes Series Braxton, a series of Arrived Homes, LLC (Braxton)  Arrived KY Braxton, LLC  6/17/2022  7/8/2022   
Arrived Homes Series Brennan, a series of Arrived Homes, LLC (Brennan)  Arrived AL Brennan, LLC  4/14/2022  4/25/2022   
Arrived Homes Series Briarwood, a series of Arrived Homes, LLC (Briarwood)  Arrived AR Briarwood, LLC  7/5/2023  8/10/2023   
Arrived Homes Series Brooklyn, a series of Arrived Homes, LLC (Brooklyn)  Arrived Homes Series Brooklyn, a series of Arrived Homes, LLC  10/27/2022  11/15/2022   
Arrived Homes Series Burlington, a series of Arrived Homes, LLC (Burlington)  Arrived CO Burlington, LLC  5/3/2022  5/12/2022   
Arrived Homes Series Butter, a series of Arrived Homes, LLC (Butter)  Arrived SC Butter, LLC  9/1/2021  11/18/2021   
Arrived Homes Series Calvin, a series of Arrived Homes, LLC (Calvin)  Arrived VA Calvin, LLC  7/7/2023  7/27/2023   
Arrived Homes Series Camino, a series of Arrived Homes, LLC (Camino)  Arrived Homes Series Camino, a series of Arrived Homes, LLC  6/22/2022  7/8/2022   
Arrived Homes Series Cawley, a series of Arrived Homes, LLC (Cawley)  Arrived GA Cawley, LLC  5/23/2023  6/7/2023   
Arrived Homes Series Centennial, a series of Arrived Homes, LLC (Centennial)  Arrived NC Centennial LLC  5/28/2021  6/4/2021   
Arrived Homes Series Chaparral, a series of Arrived Homes, LLC (Chaparral)  Arrived AR Chaparral, LLC  1/4/2021  1/14/2021   
Arrived Homes Series Chelsea, a series of Arrived Homes, LLC (Chelsea)  Arrived AL Chelsea, LLC  2/7/2022  2/24/2022   
Arrived Homes Series Chester, a series of Arrived Homes, LLC (Chester)  Arrived TN Chester, LLC  6/22/2022  7/11/2022   
Arrived Homes Series Chickamauga, a series of Arrived Homes, LLC (Chickamauga)  Arrived TN Chickamauga, LLC  10/27/2022  11/14/2022   
Arrived Homes Series Chinook, a series of Arrived Homes, LLC (Chinook)  Arrived GA Chinook, LLC  5/23/2023  6/7/2023   
Arrived Homes Series Chitwood, a series of Arrived Homes, LLC (Chitwood)  Arrived OH Chitwood, LLC  5/26/2022  6/9/2022   

 

F-289

 

 

Series Name  Name of the wholly-owned subsidiary of the Series  Date Formed  Acquisition Date  Series removed from Arrived Homes
Arrived Homes Series Clover, a series of Arrived Homes, LLC (Clover)  Arrived Homes Series Clover, a series of Arrived Homes, LLC  5/24/2022  6/6/2022   
Arrived Homes Series Coatbridge, a series of Arrived Homes, LLC (Coatbridge)  Arrived SC Coatbridge, LLC  6/15/2021  7/1/2021   
Arrived Homes Series Collier, a series of Arrived Homes, LLC (Collier)  Arrived TN Collier, LLC  5/31/2022  6/17/2022   
Arrived Homes Series Collinston, a series of Arrived Homes, LLC (Collinston)  Arrived NC Collinston, LLC  8/11/2021  9/17/2021   
Arrived Homes Series Conway, a series of Arrived Homes, LLC (Conway)  Arrived TN Conway, LLC  5/31/2022  7/14/2022   
Arrived Homes Series Cove, a series of Arrived Homes, LLC (Cove)  Arrived Homes Series Cove, a series of Arrived Homes, LLC  12/8/2022  3/23/2023   
Arrived Homes Series Creekside, a series of Arrived Homes, LLC (Creekside)  Arrived AR Creekside, LLC  6/15/2022  6/22/2022   
Arrived Homes Series Creekwood, a series of Arrived Homes, LLC (Creekwood)  Arrived Homes Series Creekwood, a series of Arrived Homes, LLC  6/22/2022  7/11/2022   
Arrived Homes Series Cumberland, a series of Arrived Homes, LLC (Cumberland)  Arrived TN Cumberland, LLC  6/7/2022  7/6/2022   
Arrived Homes Series Cupcake, a series of Arrived Homes, LLC (Cupcake)  Arrived AR Cupcake LLC  5/23/2021  9/24/2021   
Arrived Homes Series Cypress, a series of Arrived Homes, LLC (Cypress)  Arrived GA Cypress, LLC  6/22/2022  7/15/2022   
Arrived Homes Series Daisy, a series of Arrived Homes, LLC (Daisy)  Arrived AR Daisy, LLC  6/15/2022  6/20/2022   
Arrived Homes Series Davidson, a series of Arrived Homes, LLC (Davidson)  Arrived NC Davidson LLC  7/22/2021  10/1/2021   
Arrived Homes Series Dawson, a series of Arrived Homes, LLC (Dawson)  Arrived SC Dawson, LLC  6/15/2021  7/6/2021   
Arrived Homes Series Delta, a series of Arrived Homes, LLC (Delta)  Arrived GA Delta, LLC  12/29/2021  1/26/2022   
Arrived Homes Series Dewberry, a series of Arrived Homes, LLC (Dewberry)  Arrived SC Dewberry, LLC  5/21/2021  6/29/2021   
Arrived Homes Series Diablo, a series of Arrived Homes, LLC (Diablo)  Arrived AZ Diablo, LLC  11/29/2021  12/27/2021   
Arrived Homes Series Dogwood, a series of Arrived Homes, LLC (Dogwood)  Arrived Homes Series Dogwood, a series of Arrived Homes, LLC  5/31/2022  6/6/2022   
Arrived Homes Series Dolittle, a series of Arrived Homes, LLC (Dolittle)  Arrived SC Dolittle, LLC  9/1/2021  11/10/2021   
Arrived Homes Series Dolly, a series of Arrived Homes, LLC (Dolly)  Arrived TN Dolly, LLC  6/13/2022  6/24/2022   
Arrived Homes Series Dops, a series of Arrived Homes, LLC (Dops)  Arrived Homes Series Dops, a series of Arrived Homes, LLC  11/29/2022  12/15/2022   
Arrived Homes Series Dorchester, a series of Arrived Homes, LLC (Dorchester)  Arrived SC Dorchester, LLC  5/31/2022  6/10/2022   
Arrived Homes Series Dunbar, a series of Arrived Homes, LLC (Dunbar)  Arrived TN Dunbar, LLC  5/19/2022  5/31/2022   
Arrived Homes Series Eagle, a series of Arrived Homes, LLC (Eagle)  Arrived AR Eagle, LLC  6/24/2022  8/5/2022   

 

F-290

 

 

Series Name  Name of the wholly-owned subsidiary of the Series  Date Formed  Acquisition Date  Series removed from Arrived Homes
Arrived Homes Series Eastfair, a series of Arrived Homes, LLC (Eastfair)  Arrived SC Eastfair, LLC  5/21/2021  6/9/2021   
Arrived Homes Series Eastwood, a series of Arrived Homes, LLC (Eastwood)  Arrived TN Eastwood, LLC  7/25/2023  8/30/2023   
Arrived Homes Series Elevation, a series of Arrived Homes, LLC (Elevation)  Arrived SC Elevation, LLC  7/7/2021  7/21/2021   
Arrived Homes Series Ella, a series of Arrived Homes, LLC (Ella)  Arrived TN Ella, LLC  1/10/2023  1/31/2023   
Arrived Homes Series Ellen, a series of Arrived Homes, LLC (Ellen)  Arrived IN Ellen, LLC  5/24/2023  7/12/2023   
Arrived Homes Series Elm, a series of Arrived Homes, LLC (Elm)  Arrived SC Elm, LLC  6/15/2021  8/16/2021   
Arrived Homes Series Emporia, a series of Arrived Homes, LLC (Emporia)  Arrived GA Emporia, LLC  1/7/2022  1/27/2022   
Arrived Homes Series Ensenada, a series of Arrived Homes, LLC (Ensenada)  Arrived CO Ensenada, LLC  9/28/2021  10/15/2021   
Arrived Homes Series Falcon, a series of Arrived Homes, LLC (Falcon)  Arrived AR Falcon, LLC  6/24/2022  9/9/2022   
Arrived Homes Series Felix, a series of Arrived Homes, LLC (Felix)  Arrived NC Felix, LLC  5/24/2023  6/7/2023   
Arrived Homes Series Fenwick, a series of Arrived Homes, LLC (Fenwick)  Arrived GA Fenwick, LLC  5/8/2023  5/31/2023   
Arrived Homes Series Fletcher, a series of Arrived Homes, LLC (Fletcher)  Arrived AR Fletcher, LLC  7/5/2023  7/26/2023   
Arrived Homes Series Folly, a series of Arrived Homes, LLC (Folly)  Arrived SC Folly, LLC  5/31/2022  6/8/2022   
Arrived Homes Series Forest, a series of Arrived Homes, LLC (Forest)  Arrived SC Forest, LLC  6/28/2021  7/26/2021   
Arrived Homes Series Foster, a series of Arrived Homes, LLC (Foster)  Arrived OH Foster, LLC  5/19/2023  5/31/2023   
Arrived Homes Series Franklin, a series of Arrived Homes, LLC (Franklin)  Arrived IN Franklin, LLC  5/24/2023  6/14/2023   
Arrived Homes Series Gardens, a series of Arrived Homes, LLC (Gardens)  Arrived Homes Series Gardens, a series of Arrived Homes, LLC  3/17/2022  3/23/2022   
Arrived Homes Series General, a series of Arrived Homes, LLC (General)  Arrived VA General, LLC  5/25/2023  6/7/2023   
Arrived Homes Series Goose, a series of Arrived Homes, LLC (Goose)  Arrived AR Goose, LLC  6/24/2022  8/5/2022   
Arrived Homes Series Grant, a series of Arrived Homes, LLC (Grant)  Arrived GA Grant, LLC  10/1/2021  10/29/2021   
Arrived Homes Series Greenhill, a series of Arrived Homes, LLC (Greenhill)  Arrived SC Greenhill, LLC  11/17/2021  1/11/2022   
Arrived Homes Series Gretal, a series of Arrived Homes, LLC (Gretal)  Arrived TN Gretal, LLC  7/20/2022  9/29/2022   
Arrived Homes Series Grove, a series of Arrived Homes, LLC (Grove)  Arrived Homes Series Grove, a series of Arrived Homes, LLC  4/20/2022  3/29/2022   
Arrived Homes Series Hadden, a series of Arrived Homes, LLC (Hadden)  Arrived SC Hadden, LLC  12/29/2021  1/31/2022   
Arrived Homes Series Hansard, a series of Arrived Homes, LLC (Hansard)  Arrived TN Hansard, LLC  12/9/2022  12/28/2022   
Arrived Homes Series Hansel, a series of Arrived Homes, LLC (Hansel)  Arrived TN Hansel, LLC  7/20/2022  8/26/2022   
Arrived Homes Series Hargrave, a series of Arrived Homes, LLC (Hargrave)  Arrived VA Hargrave, LLC  7/7/2023  7/27/2023   
Arrived Homes Series Harrison, a series of Arrived Homes, LLC (Harrison)  Arrived TN Harrison, LLC  6/22/2022  7/8/2022   

 

F-291

 

 

Series Name  Name of the wholly-owned subsidiary of the Series  Date Formed  Acquisition Date  Series removed from Arrived Homes
Arrived Homes Series Henry, a series of Arrived Homes, LLC (Henry)  Arrived GA Henry, LLC  6/6/2022  6/16/2022   
Arrived Homes Series Heritage, a series of Arrived Homes, LLC (Heritage)  Arrived Homes Series Heritage, a series of Arrived Homes, LLC  4/12/2022  4/13/2022   
Arrived Homes Series Heron, a series of Arrived Homes, LLC (Heron)  Arrived SC Heron, LLC  6/30/2022  4/22/2022   
Arrived Homes Series Highland, a series of Arrived Homes, LLC (Highland)  Arrived SC Highland, LLC  6/14/2022  6/24/2022   
Arrived Homes Series Hines, a series of Arrived Homes, LLC (Hines)  Arrived TN Hines, LLC  5/18/2022  5/27/2022   
Arrived Homes Series Hobbes, a series of Arrived Homes, LLC (Hobbes)  Arrived VA Hobbes, LLC  7/7/2023  7/27/2023   
Arrived Homes Series Holcomb, a series of Arrived Homes, LLC (Holcomb)  Arrived Homes Series Holcomb, a series of Arrived Homes, LLC  5/3/2022  5/27/2022   
Arrived Homes Series Holland, a series of Arrived Homes, LLC (Holland)  Arrived NC Holland LLC  7/22/2021  9/29/2021   
Arrived Homes Series Hollandaise, a series of Arrived Homes, LLC (Hollandaise)  Arrived TN Hollandaise, LLC  1/20/2022  2/3/2022   
Arrived Homes Series Holloway, a series of Arrived Homes, LLC (Holloway)  Arrived SC Holloway, LLC  5/21/2021  6/16/2021   
Arrived Homes Series Inglewood, a series of Arrived Homes, LLC (Inglewood)  Arrived TN Inglewood, LLC  6/22/2022  7/12/2022   
Arrived Homes Series Irene, a series of Arrived Homes, LLC (Irene)  Arrived AR Irene, LLC  7/5/2023  7/26/2023   
Arrived Homes Series Jack, a series of Arrived Homes, LLC (Jack)  Arrived TN Jack, LLC  4/26/2022  3/22/2022   
Arrived Homes Series Jake, a series of Arrived Homes, LLC (Jake)  Arrived CO Jake, LLC  5/10/2022  5/24/2022   
Arrived Homes Series Jefferson, a series of Arrived Homes, LLC (Jefferson)  Arrived TN Jefferson, LLC  12/9/2022  12/28/2022   
Arrived Homes Series Jill, a series of Arrived Homes, LLC (Jill)  Arrived TN Jill, LLC  5/12/2022  7/27/2022   
Arrived Homes Series Johnny, a series of Arrived Homes, LLC (Johnny)  Arrived TN Johnny, LLC  5/10/2022  6/15/2022   
Arrived Homes Series June, a series of Arrived Homes, LLC (June)  Arrived TN June, LLC  5/10/2022  6/15/2022   
Arrived Homes Series Jupiter, a series of Arrived Homes, LLC (Jupiter)  Arrived NC Jupiter LLC  7/21/2021  9/14/2021   
Arrived Homes Series Kawana, a series of Arrived Homes, LLC (Kawana)  Arrived AL Kawana, LLC  1/20/2022  2/11/2022   
Arrived Homes Series Kennesaw, a series of Arrived Homes, LLC (Kennesaw)  Arrived Homes Series Kennesaw, a series of Arrived Homes, LLC  5/18/2022  6/9/2022   
Arrived Homes Series Kenny, a series of Arrived Homes, LLC (Kenny)  Arrived TN Kenny, LLC  6/21/2022  6/24/2022   
Arrived Homes Series KerriAnn, a series of Arrived Homes, LLC (KerriAnn)  Arrived NC KerriAnn, LLC  10/4/2021  10/28/2021   
Arrived Homes Series Kessler, a series of Arrived Homes, LLC (Kessler)  Arrived AR Kessler, LLC  6/15/2022  6/22/2022   
Arrived Homes Series Kingsley, a series of Arrived Homes, LLC (Kingsley)  Arrived SC Kingsley, LLC  5/21/2021  6/1/2021   
Arrived Homes Series Kirkwood, a series of Arrived Homes, LLC (Kirkwood)  Arrived TN Kirkwood, LLC  4/10/2022  4/22/2022   

 

F-292

 

 

Series Name  Name of the wholly-owned subsidiary of the Series  Date Formed  Acquisition Date  Series removed from Arrived Homes
Arrived Homes Series Korin, a series of Arrived Homes, LLC (Korin)  Arrived AR Korin, LLC  11/8/2022  11/29/2022   
Arrived Homes Series Lallie, a series of Arrived Homes, LLC (Lallie)  Arrived SC Lallie, LLC  6/1/2021  6/18/2021   
Arrived Homes Series Lanier, a series of Arrived Homes, LLC (Lanier)  Arrived Homes Series Lanier, a series of Arrived Homes, LLC  4/12/2022  4/8/2022   
Arrived Homes Series Lannister, a series of Arrived Homes, LLC (Lannister)  Arrived Homes Series Lannister, a series of Arrived Homes, LLC  5/3/2022  5/19/2022   
Arrived Homes Series Latte, a series of Arrived Homes, LLC (Latte)  Arrived Homes Series Latte, a series of Arrived Homes, LLC  5/18/2022  6/1/2022   
Arrived Homes Series Lennox, a series of Arrived Homes, LLC (Lennox)  Arrived SC Lennox, LLC  6/15/2021  7/1/2021   
Arrived Homes Series Lierly, a series of Arrived Homes, LLC (Lierly)  Arrived AR Lierly, LLC  12/15/2020  1/21/2021   
Arrived Homes Series Lily, a series of Arrived Homes, LLC (Lily)  Arrived CO Lily, LLC  9/2/2021  10/1/2021   
Arrived Homes Series Limestone, a series of Arrived Homes, LLC (Limestone)  Arrived SC Limestone LLC  7/21/2021  9/23/2021   
Arrived Homes Series Litton, a series of Arrived Homes, LLC (Litton)  Arrived TN Litton, LLC  10/27/2022  11/14/2022   
Arrived Homes Series Longwoods, a series of Arrived Homes, LLC (Longwoods)  Arrived GA Longwoods, LLC  5/5/2023  5/24/2023   
Arrived Homes Series Lookout, a series of Arrived Homes, LLC (Lookout)  Arrived TN Lookout, LLC  5/19/2022  5/31/2022   
Arrived Homes Series Loretta, a series of Arrived Homes, LLC (Loretta)  Arrived TN Loretta, LLC  5/31/2022  7/15/2022   
Arrived Homes Series Louis, a series of Arrived Homes, LLC (Louis)  Arrived MO Louis, LLC  5/8/2023  5/10/2023   
Arrived Homes Series Louise, a series of Arrived Homes, LLC (Louise)  Arrived Homes Series Louise, a series of Arrived Homes, LLC  3/8/2022  3/17/2022   
Arrived Homes Series Lovejoy, a series of Arrived Homes, LLC (Lovejoy)  Arrived GA Lovejoy, LLC  1/7/2022  2/3/2022   
Arrived Homes Series Luna, a series of Arrived Homes, LLC (Luna)  Arrived SC Luna, LLC  5/21/2021  6/14/2021   
Arrived Homes Series Lurleen, a series of Arrived Homes, LLC (Lurleen)  Arrived Homes Series Lurleen, a series of Arrived Homes, LLC  10/27/2022  12/5/2022   
Arrived Homes Series Madison, a series of Arrived Homes, LLC (Madison)  Arrived Homes Series Madison, a series of Arrived Homes, LLC  12/29/2022  5/6/2022   
Arrived Homes Series Mae, a series of Arrived Homes, LLC (Mae)  Arrived SC Mae, LLC  6/6/2022  6/22/2022   
Arrived Homes Series Magnolia, a series of Arrived Homes, LLC (Magnolia)  Arrived GA Magnolia, LLC  4/12/2022  4/26/2022   
Arrived Homes Series Malbec, a series of Arrived Homes, LLC (Malbec)  Arrived AR Malbec, LLC  4/26/2021  5/13/2021   
Arrived Homes Series Mammoth, a series of Arrived Homes, LLC (Mammoth)  Arrived Homes Series Mammoth, a series of Arrived Homes, LLC  4/12/2022  3/31/2022   
Arrived Homes Series Marcelo, a series of Arrived Homes, LLC (Marcelo)  Arrived KY Marcelo, LLC  6/17/2022  7/29/2022   
Arrived Homes Series Marie, a series of Arrived Homes, LLC (Marie)  Arrived TN Marie, LLC  12/9/2022  12/28/2022   
Arrived Homes Series Marietta, a series of Arrived Homes, LLC (Marietta)  Arrived SC Marietta, LLC  6/28/2022  6/30/2022   
Arrived Homes Series Marion, a series of Arrived Homes, LLC (Marion)  Arrived GA Marion, LLC  4/21/2023  5/25/2023   
Arrived Homes Series Marple, a series of Arrived Homes, LLC (Marple)  Arrived AR Marple, LLC  5/5/2023  5/31/2023   

 

F-293

 

 

Series Name  Name of the wholly-owned subsidiary of the Series  Date Formed  Acquisition Date  Series removed from Arrived Homes
Arrived Homes Series Martell, a series of Arrived Homes, LLC (Martell)  Arrived GA Martell, LLC  4/27/2023  5/17/2023   
Arrived Homes Series Mary, a series of Arrived Homes, LLC (Mary)  Arrived TN Mary, LLC  3/1/2023  5/31/2023   
Arrived Homes Series Matchingham, a series of Arrived Homes, LLC (Matchingham)  Arrived SC Matchingham, LLC  8/10/2021  10/22/2021   
Arrived Homes Series McGregor, a series of Arrived Homes, LLC (McGregor)  Arrived TN McGregor, LLC  4/10/2022  4/14/2022   
Arrived Homes Series McLovin, a series of Arrived Homes, LLC (McLovin)  Arrived CO McLovin, LLC  11/12/2021  12/3/2021   
Arrived Homes Series Meadow, a series of Arrived Homes, LLC (Meadow)  Arrived NC Meadow, LLC  8/27/2021  9/28/2021   
Arrived Homes Series Mimosa, a series of Arrived Homes, LLC (Mimosa)  Arrived Homes Series Mimosa, a series of Arrived Homes, LLC  9/2/2022  9/23/2022   
Arrived Homes Series Mojave, a series of Arrived Homes, LLC (Mojave)  Arrived AR Mojave LLC  5/23/2021  9/24/2021   
Arrived Homes Series Murphy, a series of Arrived Homes, LLC (Murphy)  Arrived SC Murphy, LLC  9/1/2021  11/10/2021   
Arrived Homes Series Mycroft, a series of Arrived Homes, LLC (Mycroft)  Arrived AR Mycroft, LLC  4/27/2023  5/31/2023   
Arrived Homes Series Nugget, a series of Arrived Homes, LLC (Nugget)  Arrived CO Nugget, LLC  4/29/2022  5/20/2022   
Arrived Homes Series Odessa, a series of Arrived Homes, LLC (Odessa)  Arrived CO Odessa, LLC  9/2/2021  9/30/2021   
Arrived Homes Series Olive, a series of Arrived Homes, LLC (Olive)  Arrived SC Olive, LLC  6/15/2021  7/27/2021   
Arrived Homes Series Oly, a series of Arrived Homes, LLC (Oly)  Arrived CO Oly, LLC  11/12/2021  11/30/2021   
Arrived Homes Series Onyx, a series of Arrived Homes, LLC (Onyx)  Arrived TN Onyx, LLC  5/22/2023  5/31/2023   
Arrived Homes Series Oscar, a series of Arrived Homes, LLC (Oscar)  Arrived NC Oscar, LLC  5/24/2023  6/28/2023   
Arrived Homes Series Osceola, a series of Arrived Homes, LLC (Osceola)  Arrived FL Osceola, LLC  5/4/2023  5/23/2023   
Arrived Homes Series Osprey, a series of Arrived Homes, LLC (Osprey)  Arrived SC Osprey, LLC  4/29/2022  6/3/2022   
Arrived Homes Series Otoro, a series of Arrived Homes, LLC (Otoro)  Arrived GA Otoro, LLC  2/2/2022  3/21/2022   
Arrived Homes Series Palmer, a series of Arrived Homes, LLC (Palmer)  Arrived GA Palmer, LLC  5/23/2023  6/7/2023   
Arrived Homes Series Patrick, a series of Arrived Homes, LLC (Patrick)  Arrived AR Patrick, LLC  1/4/2021  2/1/2021   
Arrived Homes Series Peanut, a series of Arrived Homes, LLC (Peanut)  Arrived Homes Series Peanut, a series of Arrived Homes, LLC  3/8/2022  3/22/2022   
Arrived Homes Series Pearl, a series of Arrived Homes, LLC (Pearl)  Arrived TN Pearl, LLC  5/2/2022  5/13/2022   
Arrived Homes Series Pecan, a series of Arrived Homes, LLC (Pecan)  Arrived AR Pecan, LLC  1/4/2021  2/1/2021   
Arrived Homes Series Peterson, a series of Arrived Homes, LLC (Peterson)  Arrived Homes Series Peterson, a series of Arrived Homes, LLC  7/24/2023  8/3/2023   
Arrived Homes Series Piedmont, a series of Arrived Homes, LLC (Piedmont)  Arrived GA Piedmont, LLC  6/22/2022  6/29/2022   
Arrived Homes Series Pinot, a series of Arrived Homes, LLC (Pinot)  Arrived AR Pinot, LLC  4/26/2021  5/13/2021   
Arrived Homes Series Pioneer, a series of Arrived Homes, LLC (Pioneer)  Arrived CO Pioneer, LLC  5/16/2022  6/7/2022   

 

F-294

 

 

Series Name  Name of the wholly-owned subsidiary of the Series  Date Formed  Acquisition Date  Series removed from Arrived Homes
Arrived Homes Series Plumtree, a series of Arrived Homes, LLC (Plumtree)  Arrived AR Plumtree, LLC  12/15/2020  1/4/2021   
Arrived Homes Series Point, a series of Arrived Homes, LLC (Point)  Arrived TN Point, LLC  4/26/2022  4/5/2022   
Arrived Homes Series Porthos, a series of Arrived Homes, LLC (Porthos)  Arrived GA Porthos, LLC  5/8/2023  6/14/2023   
Arrived Homes Series Quincy, a series of Arrived Homes, LLC (Quincy)  Arrived CO Quincy, LLC  6/6/2022  6/28/2022   
Arrived Homes Series Redondo, a series of Arrived Homes, LLC (Redondo)  Arrived NM Redondo, LLC  9/22/2022  10/31/2022   
Arrived Homes Series Regency, a series of Arrived Homes, LLC (Regency)  Arrived OH Regency, LLC  12/1/2022  12/21/2022   
Arrived Homes Series Reginald, a series of Arrived Homes, LLC (Reginald)  Arrived GA Reginald, LLC  6/22/2022  7/5/2022   
Arrived Homes Series Reynolds, a series of Arrived Homes, LLC (Reynolds)  Arrived Homes Series Reynolds, a series of Arrived Homes, LLC  5/18/2022  6/2/2022   
Arrived Homes Series Ribbonwalk, a series of Arrived Homes, LLC (Ribbonwalk)  Arrived NC Ribbonwalk, LLC  9/30/2021  10/28/2021   
Arrived Homes Series Richardson, a series of Arrived Homes, LLC (Richardson)  Arrived AR Richardson, LLC  6/23/2022  7/8/2022   
Arrived Homes Series Richmond, a series of Arrived Homes, LLC (Richmond)  Arrived VA Richmond, LLC  7/20/2023  8/2/2023   
Arrived Homes Series Ridge, a series of Arrived Homes, LLC (Ridge)  Arrived SC Ridge, LLC  6/15/2021  7/9/2021   
Arrived Homes Series Ritter, a series of Arrived Homes, LLC (Ritter)  Arrived CO Ritter, LLC  5/11/2022  5/27/2022   
Arrived Homes Series River, a series of Arrived Homes, LLC (River)  Arrived SC River, LLC  6/15/2021  7/30/2021   
Arrived Homes Series Riverwalk, a series of Arrived Homes, LLC (Riverwalk)  Arrived TN Riverwalk, LLC  5/27/2022  6/13/2022   
Arrived Homes Series Rooney, a series of Arrived Homes, LLC (Rooney)  Arrived AZ Rooney, LLC  9/13/2021  10/13/2021   
Arrived Homes Series Roseberry, a series of Arrived Homes, LLC (Roseberry)  Arrived SC Roseberry, LLC  6/15/2021  8/2/2021   
Arrived Homes Series Rosewood, a series of Arrived Homes, LLC (Rosewood)  Arrived Homes Series Rosewood, a series of Arrived Homes, LLC  4/20/2022  4/18/2022   
Arrived Homes Series Roxy, a series of Arrived Homes, LLC (Roxy)  Arrived TN Roxy, LLC  4/26/2022  4/7/2022   
Arrived Homes Series Saddlebred, a series of Arrived Homes, LLC (Saddlebred)  Arrived CO Saddlebred, LLC  9/16/2021  10/1/2021   
Arrived Homes Series Saint, a series of Arrived Homes, LLC (Saint)  Arrived AZ Saint, LLC  9/27/2021  1/13/2022   
Arrived Homes Series Sajni, a series of Arrived Homes, LLC (Sajni)  Arrived GA Sajni, LLC  12/15/2022  1/24/2023   
Arrived Homes Series Salem, a series of Arrived Homes, LLC (Salem)  Arrived AR Salem, LLC  4/26/2021  5/13/2021   
Arrived Homes Series Salinas, a series of Arrived Homes, LLC (Salinas)  Arrived NM Salinas, LLC  12/9/2022  1/13/2023   
Arrived Homes Series Saturn, a series of Arrived Homes, LLC (Saturn)  Arrived NC Saturn, LLC  8/11/2021  8/31/2021   
Arrived Homes Series Scepter, a series of Arrived Homes, LLC (Scepter)  Arrived AZ Scepter, LLC  9/20/2021  10/13/2021   
Arrived Homes Series Sequoyah, a series of Arrived Homes, LLC (Sequoyah)  Arrived AR Sequoyah, LLC  10/27/2022  11/9/2022   
Arrived Homes Series Shallowford, a series of Arrived Homes, LLC (Shallowford)  Arrived TN Shallowford, LLC  6/22/2022  7/12/2022   

 

F-295

 

 

Series Name  Name of the wholly-owned subsidiary of the Series  Date Formed  Acquisition Date  Series removed from Arrived Homes
Arrived Homes Series Shoreline, a series of Arrived Homes, LLC (Shoreline)  Arrived SC Shoreline, LLC  5/21/2021  6/18/2021   
Arrived Homes Series Sigma, a series of Arrived Homes, LLC (Sigma)  Arrived NC Sigma, LLC  11/24/2021  12/17/2021   
Arrived Homes Series Simon, a series of Arrived Homes, LLC (Simon)  Arrived TN Simon, LLC  6/1/2023  6/14/2023   
Arrived Homes Series Sims, a series of Arrived Homes, LLC (Sims)  Arrived GA Sims, LLC  5/17/2023  5/31/2023   
Arrived Homes Series Soapstone, a series of Arrived Homes, LLC (Soapstone)  Arrived AR Soapstone, LLC  12/15/2020  10/11/2019   
Arrived Homes Series Sodalis, a series of Arrived Homes, LLC (Sodalis)  Arrived IN Sodalis, LLC  6/7/2022  6/27/2022   
Arrived Homes Series Spencer, a series of Arrived Homes, LLC (Spencer)  Arrived SC Spencer, LLC  6/1/2021  6/22/2021   
Arrived Homes Series Splash, a series of Arrived Homes, LLC (Splash)  Arrived AR Splash, LLC  4/26/2021  5/3/2021   
Arrived Homes Series Spring, a series of Arrived Homes, LLC (Spring)  Arrived SC Spring, LLC  5/23/2022  6/30/2022   
Arrived Homes Series Stonebriar, a series of Arrived Homes, LLC (Stonebriar)  Arrived Homes Series Stonebriar, a series of Arrived Homes, LLC  4/20/2022  4/18/2022   
Arrived Homes Series Sugar, a series of Arrived Homes, LLC (Sugar)  Arrived SC Sugar, LLC  6/15/2021  7/7/2021   
Arrived Homes Series Summerset, a series of Arrived Homes, LLC (Summerset)  Arrived SC Summerset, LLC  6/1/2021  6/21/2021   
Arrived Homes Series Sundance, a series of Arrived Homes, LLC (Sundance)  Arrived NM Sundance, LLC  9/26/2022  10/14/2022   
Arrived Homes Series Sunnyside, a series of Arrived Homes, LLC (Sunnyside)  Arrived Homes Series Sunnyside, a series of Arrived Homes, LLC  11/16/2022  12/20/2022   
Arrived Homes Series Swift, a series of Arrived Homes, LLC (Swift)  Arrived GA Swift, LLC  4/13/2022  4/20/2022   
Arrived Homes Series Taylor, a series of Arrived Homes, LLC (Taylor)  Arrived Homes Series Taylor, a series of Arrived Homes, LLC  6/14/2022  6/29/2022   
Arrived Homes Series Terracotta, a series of Arrived Homes, LLC (Terracotta)  Arrived AZ Terracotta, LLC  1/20/2022  2/4/2022   
Arrived Homes Series Theodore, a series of Arrived Homes, LLC (Theodore)  Arrived TN Theodore, LLC  6/1/2023  6/14/2023   
Arrived Homes Series Tulip, a series of Arrived Homes, LLC (Tulip)  Arrived Homes Series Tulip, a series of Arrived Homes, LLC  3/8/2022  3/25/2022   
Arrived Homes Series Tuscan, a series of Arrived Homes, LLC (Tuscan)  Arrived AR Tuscan, LLC  4/26/2021  5/13/2021   
Arrived Homes Series Tuscarora, a series of Arrived Homes, LLC (Tuscarora)  Arrived NM Tuscarora, LLC  9/26/2022  12/22/2022   
Arrived Homes Series Tuxford, a series of Arrived Homes, LLC (Tuxford)  Arrived SC Tuxford, LLC  1/20/2022  2/9/2022   
Arrived Homes Series Vernon, a series of Arrived Homes, LLC (Vernon)  Arrived SC Vernon, LLC  8/10/2021  11/24/2021   
Arrived Homes Series Walton, a series of Arrived Homes, LLC (Walton)  Arrived AR Walton, LLC  6/8/2022  6/24/2022   
Arrived Homes Series Wave, a series of Arrived Homes, LLC (Wave)  Arrived GA Wave, LLC  12/29/2021  2/11/2022   
Arrived Homes Series Weldon, a series of Arrived Homes, LLC (Weldon)  Arrived NC Weldon LLC  7/23/2021  9/17/2021   
Arrived Homes Series Wellington, a series of Arrived Homes, LLC (Wellington)  Arrived GA Wellington, LLC  6/16/2022  7/7/2022   
Arrived Homes Series Wentworth, a series of Arrived Homes, LLC (Wentworth)  Arrived AR Wentworth, LLC  4/26/2021  9/24/2021   

 

F-296

 

 

Series Name  Name of the wholly-owned subsidiary of the Series  Date Formed  Acquisition Date  Series removed from Arrived Homes
Arrived Homes Series Wescott, a series of Arrived Homes, LLC (Wescott)  Arrived TN Wescott, LLC  4/18/2022  5/12/2022   
Arrived Homes Series Westchester, a series of Arrived Homes, LLC (Westchester)  Arrived SC Westchester, LLC  6/28/2021  7/15/2021   
Arrived Homes Series Wildwood, a series of Arrived Homes, LLC (Wildwood)  Arrived TN Wildwood, LLC  4/13/2022  4/25/2022   
Arrived Homes Series Willow, a series of Arrived Homes, LLC (Willow)  Arrived AR Willow, LLC  6/15/2022  7/13/2022   
Arrived Homes Series Wilson, a series of Arrived Homes, LLC (Wilson)  Arrived AR Wilson, LLC  6/15/2022  7/1/2022   
Arrived Homes Series Winchester, a series of Arrived Homes, LLC (Winchester)  Arrived Homes Series Winchester, a series of Arrived Homes, LLC  7/5/2023  7/14/2023   
Arrived Homes Series Windsor, a series of Arrived Homes, LLC (Windsor)  Arrived SC Windsor, LLC  6/15/2021  7/22/2021   
Arrived Homes Series Winston, a series of Arrived Homes, LLC (Winston)  Arrived Homes Series Winston, a series of Arrived Homes, LLC  6/22/2022  7/8/2022   
Arrived Homes Series Wisteria, a series of Arrived Homes, LLC (Wisteria)  Arrived Homes Series Wisteria, a series of Arrived Homes, LLC  3/8/2022  3/29/2022   
Arrived Homes Series Arlo, a series of Arrived Homes, LLC (Arlo)  Arrived Homes Series Arlo, a series of Arrived Homes, LLC  2/5/20224  2/14/2024  *
Arrived Homes Series Hualapai, a series of Arrived Homes, LLC (Hualapai)  Arrived AZ Hualapai, LLC  1/26/2024  2/7/2024  *
Arrived Homes Series Brentwood, a series of Arrived Homes, LLC (Brentwood)  Arrived KY Brentwood, LLC  12/27/2023  2/7/2024  *
Arrived Homes Series Bellvue, a series of Arrived Homes, LLC (Bellvue)  Arrived CO Bellvue, LLC  1/30/2024  2/7/2024  *
Arrived Homes Series Lorenz, a series of Arrived Homes, LLC (Lorenz)  Arrived NC Lorenz, LLC  2/22/2024  3/13/2024  *
Arrived Homes Series Lexie, a series of Arrived Homes, LLC (Lexie)  Arrived TN Lexie, LLC  2/20/2024  2/28\/2024  *
Arrived Homes Series Hartsfield, a series of Arrived Homes, LLC (Hartsfield)  Arrived TN Hartsfield, LLC  2/22/2024  3/6/2024  *

 

*

The following Series ceased to be offered through Arrived Homes as of December 31, 2024. As of that date, the Manager has transferred these Series out of Arrived Homes. Accordingly, these Series will no longer be included in any subsequent public reporting, financial statements, or investor communications under Arrived Homes.

 

F-297

 

 

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

The accounting and reporting policies of the Company and Series conform to accounting principles generally accepted in the United States of America (GAAP). The Series has adopted a calendar year as its fiscal year.

 

The Company is an emerging growth company as the term is used in The Jumpstart Our Business Startups Act, enacted on April 5, 2012 and has elected to comply with certain reduced public company reporting requirements, however, the Company may adopt accounting standards based on the effective dates for public entities.

 

Principles of Consolidation

 

These consolidated and consolidating financial statements include the accounts of Arrived Homes, LLC (the “Company”) and each Series listed in Note 1. All inter-company transactions and balances have been eliminated on consolidation.

 

Use of Estimates

 

The preparation of the consolidated and consolidating financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated and consolidating financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates.

 

Deferred Offering Costs

 

The Company complies with the requirements of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 340-10-S99-1 with regards to offering costs. Prior to the completion of an offering, offering costs are capitalized. The deferred offering costs are charged to members’ equity upon the completion of an offering or to expense if the offering is not completed. Offering costs include offering expense reimbursements and sourcing fees as noted below.

 

Per the operating agreement, the Manager is eligible to receive up to a maximum of 2% of the gross offering proceeds per the Series offering, as reimbursement for offering expenses including legal, accounting, escrow, underwriting, filing and compliance costs, as applicable, related to a specific offering.

 

Upon completion of an offering, the Series may also be required to pay the Manager sourcing fees as defined in the offering documents. The Manager is responsible for sourcing and analyzing the Series’ property.

 

F-298

 

 

Fair Value of Financial Instruments

 

FASB guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows:

 

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities.

 

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active).

 

Level 3 - Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.

 

The carrying amounts of the Company’s consolidated and consolidating financial instruments, such as cash and accrued expenses approximate fair value due to the short-term nature of these instruments. The carrying value of the mortgage payables, net and operational notes, related party, approximate their fair values based on interest rates and terms currently available for similar instruments.

 

Management Fee

 

For all Series qualified prior to July 12, 2022, the Manager received and continues to receive from each such Series an annual asset management fee equal to one percent (1%) of the capital contributions to such Series. For all Series qualified after July 12, 2022, the Manager has received and will continue to receive from such Series an annual asset management fee equal to six tenths of a percent (0.6%) of the purchase price of the series property for such series, paid out of the series’ net operating rental income on a quarterly basis. Additionally, pursuant to the operating agreement, the Manager will receive reimbursements for out-of-pocket expenses in connection with the Series’ organization and offerings (up to a maximum of 2% of the gross offering proceeds per series offering) and in connection with the Series’ operations and the acquisition of properties and in connection with third parties providing services to the Series.

 

The Manager may also receive a portion of the property management fee, which will be equal to the difference between eight percent (8%) and the amount actually charged by the property manager when the series property is occupied, and the property disposition fee as described below. With respect to the operating accounts for each series that the manager maintains with a third-party bank, the manager will be entitled to receive any interest earned on the cash balances in such accounts. The Manager reserves the right to waive any fees or reimbursements it is due in its sole discretion.

 

Property Management Fee

 

The company will appoint an affiliate of the manager or a third-party property management company to serve as property manager to manage the property of each series pursuant to a property management agreement. The property manager for each Series is specified in the latest Offering Circular under “The Series Properties Being Offered.”

 

Property Disposition Fee

 

Upon the disposition and sale of the Series’ property, the Manager will charge the Series a market rate property disposition fee that will cover property sale expenses such as brokerage commissions, and title, escrow and closing costs. It is expected that the disposition fee charged to the Series will range from six to seven percent of the property sale price. To the extent that the actual property disposition fees are less than the amount charged to the Series, the Manager will receive the difference.

 

F-299

 

 

Prepaid and Accrued Expenses

 

Prepaid expenses consist of prepaid insurance. Accrued expenses include accrued property taxes, audit and tax fees, and interest payable on the Series’ mortgage, bridge financing, related party or operational notes, related party.

 

 Due From (To) Third-party Property Managers

 

Due from (to) third-party property managers are uncollateralized obligations due under normal trade terms generally requiring payment within 30 days from the approved prior month financial statements. Due from (to) property managers are presented net of receipts and expenses for the reported month. The Company uses a loss-rate approach based on historical loss information, adjusted for management’s expectations about current and future economic conditions, as the basis to determine expected cash receipts and distributions. Management exercises significant judgment in determining expected credit losses. Key inputs include macroeconomic factors, industry trends, and the creditworthiness of counterparties. Management believes that the composition of receivables at year-end is consistent with historical conditions as credit terms and practices and the property managers have not changed significantly.

 

The Company and Series determined it was not necessary to record an allowance for credit losses as of December 31, 2024 and 2023.

 

Property and Equipment

 

Property and equipment are stated at cost less accumulated depreciation. The Series’ property and equipment includes the cost of the purchased property, including the building and related land. The Company allocates certain capitalized title fees and relevant acquisition expenses to the capitalized costs of the building. All capitalized property costs, except for the value attributable to the land, are depreciated using the straight-line method over the estimated useful life of 27.5 years. Additions and property improvements in excess of $5,000 are capitalized and depreciated using the straight-line method over the estimated useful lives of 5-7 years, while routine repairs and maintenance are charged to expense as incurred. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the statement of comprehensive income.

 

Impairment of Long-Lived Assets

 

The Company and Series continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Series assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Series recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. The Series did not record any impairment losses on long-lived assets for the periods ended December 31, 2024 and 2023.

 

Tenant Deposits

 

Tenant deposit liabilities represent security deposits received by tenant customers.

 

Operating Expenses

 

The Series is responsible for the costs and expenses attributable to the activities of the Series. The Manager will bear its own expenses of an ordinary nature. If the operating expenses exceed the amount of revenues generated from a Series property and cannot be covered by any operating expense reserves on the balance sheet of the Series, the Manager may (a) pay such operating expenses and not seek reimbursement, in which case the expenses would be recognized by the Series with a credit to contributed capital. (b) loan the amount of the operating expenses to the Series, on which the Manager and its affiliates may impose a reasonable rate of interest and be entitled to reimbursement of such amount from future revenues generated by Series’ property, and/or (c) cause additional interests to be issued in the Series in order to cover such additional amounts. 

 

F-300

 

 

Revenue Recognition

 

The Company adopted FASB ASC 606, Revenue from Contracts with Customers, and its related amendments, effective at inception using the modified retrospective transition approach applied to all contracts. There were no cumulative impacts that were made. The Company determines revenue recognition through the following steps:

 

  ● Identification of a contract with a customer;

 

  ● Identification of the performance obligations in the contract;

 

  ● Determination of the transaction price;

 

  ● Allocation of the transaction price to the performance obligations in the contract; and

 

  ● Recognition of revenue when or as the performance obligations are satisfied.

 

Revenue is recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. As a practical expedient, the Company does not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less.

 

The Series operate rental properties and recognizes rental revenue on a monthly basis as it is earned. Revenue from leasing arrangements falls outside the scope of FASB ASC 606 and is accounted for under the provisions of FASB ASC 842.

 

Comprehensive Income (Loss)

 

The Company and Series follows FASB ASC 220 in reporting comprehensive income (loss). Comprehensive income (loss)is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. Since the Company has no items of other comprehensive income (loss), comprehensive income (loss) is equal to net income (loss).

 

Organizational Costs

 

In accordance with FASB ASC 720, Organizational Costs, including accounting fees, legal fees, and costs of incorporation, are expensed as incurred.

 

Income Taxes

 

The Company and Series follows FASB ASC 740 when accounting for income taxes, which requires an asset and liability approach to financial accounting and reporting for income taxes.  Deferred income tax assets and liabilities are computed annually for temporary differences between the financial statements and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income.  Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.  Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities. 

 

Each Series is organized as an LLC for legal purposes and makes a subsequent election with the IRS to be treated as a C corporation for tax purposes, pursuant to subchapter C or the Internal Revenue Code.

 

F-301

 

 

Furthermore, each Series complies with the requirements to be a Real Estate Investment Trust (“REIT”), a special type of C corporation that files tax form 1120-REIT.  A REIT may not be required to pay income tax at the corporate level because this form of corporation is permitted to deduct dividends paid to members’ as an expense.  Therefore, if a REIT paid out all profit and capital gains to its members it could potentially report no taxable income.  Tax losses of REITs are not allocated directly to members but, under current law, losses may be accumulated and carried forward indefinitely and be used to offset up to 80% of taxable income in any future year, thereby reducing the reported taxable income of the REIT.

 

Most states give REIT’s a deduction for dividends paid.  Since our series generally pay dividends in excess of the taxable income generated, there would be no state tax liability in these states.  In states that do not give a deduction for dividends paid, there may be a state income tax due that is assessed based on the tax table for that particular state.    There is no state tax liability for members based on the locations of properties held in the REIT’s.  The rules for state tax loss carryforwards vary by state as some conform to the Federal rules while others have restrictions on timeframes and/or the percentage of loss that can be carried forward.

 

Recently Issued and not yet adopted and adopted accounting pronouncements

 

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, as modified by FASB ASU No. 2019-10 and other subsequently issued related ASUs. The amendments in this Update affect loans, debt securities, trade receivables, and any other financial assets that have the contractual right to receive cash. The ASU requires an entity to recognize expected credit losses rather than incurred losses for financial assets. The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted this new guidance upon inception utilizing the modified retrospective transition method. The adoption of this standard did not have a material impact on the Company’s consolidated and consolidating financial statements, but did change how the allowance for credit losses is determined.

 

Management does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying consolidated and consolidating financial statements. As new accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances.

 

NOTE 3: GOING CONCERN

 

The accompanying consolidated and consolidating financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company and Series has a lack of liquidity. This factor, among others, raise substantial doubt about the ability of the Company and Series to continue as a going concern for a reasonable period of time. The Company and Series’ ability to continue as a going concern in the next twelve months from the date of this Annual Report is dependent upon their ability to continue to generate cash flow from their rental properties and/or obtain financing from the Manager. However, there are no assurances that the Company and Series can continue to generate cash flow from their rental properties or that the Manager will always be in the position to provide funding when needed. The consolidated and consolidating financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company and Series be unable to continue as a going concern.

 

NOTE 4: PROPERTY AND EQUIPMENT

 

For the periods ended December 31, 2024 and 2023, depreciation expense was $2,193,641 and $1,952,621, respectively.

 

F-302

 

 

Property and equipment, net consists of the following Series as of December 31, 2024 and 2023:

 

December 31, 2024 
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment, net		 
100  $464,472   $154,824   $-   $619,296   $(43,632)  $575,664 
101   479,535    159,845    -    639,380    (43,595)   595,785 
Abbington   361,773    120,591    6,695    489,059    (34,897)   454,162 
Abernant   171,814    57,271    -    229,086    (7,810)   221,276 
Alvin   240,221    80,074    -    320,294    (10,919)   309,375 
Amber   231,434    76,250    -    307,684    (27,351)   280,333 
Apollo   148,028    49,343    12,420    209,791    (14,492)   195,299 
Aster   192,736    64,093    -    256,829    (16,353)   240,476 
Augusta   224,136    74,712    -    298,848    (12,226)   286,622 
Avebury   219,734    73,245    -    292,978    (21,973)   271,005 
Avondale   248,780    82,927    -    331,707    (13,570)   318,137 
Badminton   192,775    63,750    7,254    263,779    (26,228)   237,551 
Ballinger   225,915    75,305    -    301,220    (8,215)   293,005 
Bandelier   227,358    122,465    -    349,823    (26,180)   323,643 
Baron   440,147    142,573    -    582,719    (40,013)   542,706 
Basil   153,138    50,625    -    203,763    (19,490)   184,273 
Bayside   193,863    63,750    -    257,613    (24,086)   233,527 
Bazzel   187,453    62,484    19,530    269,468    (18,308)   251,160 
Bedford   211,603    70,534    -    282,138    (20,519)   261,618 
Bella   231,329    77,110    -    308,439    (11,917)   296,522 
Belle   332,313    110,771    -    443,084    (29,203)   413,881 
Belvedere   222,829    74,276    -    297,105    (12,154)   284,951 
Bergenia   164,244    54,748    -    218,993    (7,963)   211,029 
Blossom   192,230    64,077    -    256,307    (16,311)   239,996 
Bonneau   253,239    84,413    5,330    342,982    (23,885)   319,096 
Brainerd   219,905    72,500    -    292,405    (15,993)   276,412 
Braxton   244,842    80,875    -    325,717    (20,774)   304,942 
Brennan   171,314    57,105    -    228,419    (16,093)   212,325 
Briarwood   157,646    52,549    -    210,195    (7,166)   203,029 
Brooklyn   125,094    41,500    6,328    172,922    (11,523)   161,399 

 

F-303

 

 

December 31, 2024 
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
Burlington   490,374    163,458    -    653,831    (44,579)   609,252 
Butter   286,835    93,724    -    380,558    (32,002)   348,556 
Calvin   178,500    59,500    -    238,000    (8,655)   229,346 
Camino   200,434    66,811    -    267,245    (17,614)   249,631 
Cawley   237,152    79,051    -    316,203    (12,217)   303,986 
Centennial   -    -    -    -    -    - 
Chaparral   148,009    49,491    -    197,500    (21,386)   176,114 
Chelsea   232,861    77,620    -    310,481    (23,286)   287,195 
Chester   280,215    93,000    -    373,215    (23,776)   349,439 
Chickamauga   282,098    93,075    -    375,173    (20,516)   354,657 
Chinook   230,186    76,729    7,665    314,580    (14,030)   300,550 
Chitwood   289,031    96,344    -    385,375    (25,400)   359,975 
Clover   249,340    83,113    -    332,453    (21,250)   311,203 
Coatbridge   205,145    67,500    7,962    280,607    (27,611)   252,996 
Collier   268,326    89,442    -    357,769    (23,580)   334,188 
Collinston   159,806    52,500    -    212,306    (18,886)   193,420 
Conway   519,077    171,250    -    690,327    (44,043)   646,284 
Cove   158,950    52,983    -    211,933    (9,633)   202,300 
Creekside   234,815    78,472    -    313,287    (20,635)   292,652 
Creekwood   218,448    72,375    -    290,823    (18,535)   272,288 
Cumberland   223,247    74,416    -    297,662    (18,942)   278,720 
Cupcake   166,444    54,639    8,000    229,083    (21,103)   207,979 
Cypress   275,692    91,250    -    366,942    (22,556)   344,386 
Daisy   227,590    75,863    -    303,453    (20,000)   283,453 
Davidson   160,008    52,500    -    212,508    (18,425)   194,082 
Dawson   171,298    56,250    5,028    232,575    (23,712)   208,863 
Delta   257,741    85,914    8,400    352,054    (27,675)   324,379 
Dewberry   143,700    47,500    -    191,200    (18,289)   172,911 
Diablo   195,243    103,950    -    299,193    (21,423)   277,769 
Dogwood   182,125    60,000    -    242,125    (16,005)   226,120 
Dolittle   232,183    76,093    -    308,276    (26,033)   282,244 
Dolly   521,147    173,682    -    694,829    (45,798)   649,032 
Dops   154,480    51,250    -    205,730    (10,767)   194,963 
Dorchester   259,980    86,660    -    346,640    (22,847)   323,793 
Dunbar   243,644    81,215    13,811    338,670    (25,602)   313,068 
Eagle   203,903    67,968    7,150    279,021    (17,875)   261,146 

 

F-304

 

 

December 31, 2024 
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
Eastfair   162,575    53,750    -    216,325    (20,691)   195,634 
Eastwood   240,809    80,270    -    321,079    (10,946)   310,133 
Elevation   201,118    65,837    13,996    280,951    (28,487)   252,465 
Ella   197,272    65,757    -    263,030    (13,152)   249,878 
Ellen   187,200    62,400    -    249,600    (9,076)   240,524 
Elm   125,176    41,250    -    166,426    (15,333)   151,093 
Emporia   265,811    88,604    -    354,415    (27,387)   327,028 
Ensenada   365,214    196,000    -    561,214    (42,219)   518,995 
Falcon   204,606    67,500    7,000    279,106    (17,287)   261,818 
Felix   187,146    62,382    6,979    256,507    (11,386)   245,121 
Fenwick   226,605    75,535    -    302,140    (12,360)   289,780 
Fletcher   132,652    44,217    -    176,869    (6,432)   170,437 
Folly   235,178    78,393    8,504    322,074    (24,210)   297,864 
Forest   265,264    87,500    12,474    365,238    (36,256)   328,982 
Foster   236,883    78,961    -    315,843    (12,921)   302,923 
Franklin   225,740    75,247    5,186    306,173    (13,098)   293,074 
Gardens   166,712    55,571    5,548    227,830    (17,276)   210,555 
General   238,814    79,605    -    318,419    (12,303)   306,116 
Goose   189,997    63,332    6,700    260,029    (16,662)   243,367 
Grant   244,818    129,500    -    374,318    (28,191)   346,126 
Greenhill   246,644    82,215    -    328,858    (25,412)   303,446 
Gretal   341,305    112,500    -    453,805    (26,891)   426,914 
Grove   170,579    56,860    13,000    240,439    (22,824)   217,615 
Hadden   166,460    55,487    -    221,947    (17,150)   204,796 
Hansard   229,327    75,709    -    305,035    (15,983)   289,052 
Hansel   305,996    101,999    -    407,994    (25,036)   382,958 
Hargrave   176,640    58,880    -    235,520    (8,564)   226,956 
Harrison   346,265    115,000    -    461,265    (29,380)   431,885 
Henry   325,137    108,379    -    433,516    (28,573)   404,943 
Heritage   220,017    73,339    5,056    298,412    (23,196)   275,216 
Heron   216,890    72,297    5,305    294,492    (23,027)   271,465 
Highland   216,811    72,270    -    289,081    (19,053)   270,028 
Hines   193,050    64,350    8,950    266,350    (20,235)   246,115 
Hobbes   176,871    58,957    -    235,828    (8,576)   227,252 
Holcomb   268,238    89,413    -    357,651    (24,385)   333,265 
Holland   160,008    52,500    -    212,508    (18,910)   193,598 

 

F-305

 

 

December 31, 2024 
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
Hollandaise   276,552    92,184    -    368,736    (27,655)   341,081 
Holloway   256,950    85,000    -    341,950    (32,703)   309,247 
Inglewood   514,831    169,750    -    684,581    (43,683)   640,898 
Irene   132,652    44,217    -    176,869    (6,432)   170,437 
Jack   313,439    104,480    6,782    424,700    (33,144)   391,556 
Jake   445,114    148,371    -    593,485    (40,465)   553,020 
Jefferson   207,755    68,441    -    276,196    (14,480)   261,716 
Jill   302,035    101,838    -    403,872    (25,627)   378,245 
Johnny   442,591    147,497    -    590,089    (38,895)   551,194 
June   442,591    147,497    -    590,089    (38,895)   551,194 
Jupiter   159,802    52,500    -    212,302    (18,886)   193,416 
Kawana   208,216    69,405    -    277,621    (20,822)   256,799 
Kennesaw   321,006    107,002    -    428,008    (28,209)   399,798 
Kenny   521,147    173,682    -    694,829    (45,798)   649,032 
KerriAnn   257,713    85,000    -    342,713    (29,676)   313,036 
Kessler   195,429    65,143    5,526    266,098    (19,845)   246,253 
Kingsley   238,075    78,750    -    316,825    (30,032)   286,793 
Kirkwood   197,564    65,855    7,069    270,488    (18,913)   251,575 
Korin   210,256    69,716    -    279,972    (15,291)   264,681 
Lallie   280,725    92,500    10,869    384,094    (38,525)   345,569 
Lanier   285,656    95,219    5,121    385,996    (28,115)   357,882 
Lannister   132,923    44,308    6,100    183,331    (15,846)   167,486 
Latte   275,597    91,866    -    367,463    (24,219)   343,244 
Lennox   163,783    53,750    -    217,533    (20,349)   197,184 
Lierly   161,250    53,750    -    215,000    (23,129)   191,871 
Lily   380,574    126,250    31,533    538,356    (48,799)   489,558 
Limestone   221,258    72,500    -    293,758    (26,149)   267,609 
Litton   242,715    80,000    -    322,715    (17,652)   305,063 
Longwoods   203,601    67,867    -    271,468    (11,105)   260,363 
Lookout   260,780    86,927    -    347,707    (23,707)   324,000 
Loretta   518,678    171,250    -    689,928    (44,009)   645,919 
Louis   203,538    67,846    -    271,384    (11,102)   260,282 
Louise   208,392    69,464    -    277,856    (20,208)   257,648 
Lovejoy   222,438    74,146    -    296,584    (22,244)   274,340 
Luna   162,575    53,750    -    216,325    (20,691)   195,634 
Lurleen   165,449    55,150    10,401    230,999    (15,692)   215,308 

 

F-306

 

 

December 31, 2024 
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
Madison   155,520    51,840    -    207,360    (14,138)   193,222 
Mae   267,516    89,172    -    356,688    (23,509)   333,179 
Magnolia   189,690    63,230    7,050    259,970    (21,344)   238,626 
Malbec   241,344    80,225    -    321,568    (31,910)   289,658 
Mammoth   257,706    85,902    -    343,608    (24,990)   318,618 
Marcelo   215,116    71,705    -    286,822    (18,252)   268,570 
Marie   241,848    79,625    -    321,473    (16,856)   304,617 
Marietta   228,678    76,807    -    305,485    (20,096)   285,389 
Marion   192,484    64,161    11,128    267,773    (13,003)   254,770 
Marple   132,652    44,217    -    176,869    (7,235)   169,633 
Martell   196,472    65,491    -    261,963    (10,717)   251,246 
Mary   205,277    68,426    -    273,703    (11,197)   262,506 
Matchingham   160,191    52,273    -    212,463    (18,446)   194,017 
McGregor   227,254    75,751    -    303,005    (21,348)   281,657 
McLovin   343,044    183,750    -    526,794    (37,313)   489,481 
Meadow   242,548    80,000    -    322,548    (28,665)   293,884 
Mimosa   159,969    53,750    -    213,719    (12,801)   200,918 
Mojave   178,180    58,500    8,000    244,680    (23,215)   221,465 
Murphy   224,701    73,612    -    298,312    (25,194)   273,119 
Mycroft   135,657    45,219    -    180,876    (7,399)   173,476 
Nugget   423,141    141,047    -    564,188    (38,468)   525,721 
Odessa   403,261    133,750    -    537,011    (47,658)   489,353 
Olive   175,139    57,500    5,044    237,683    (24,197)   213,486 
Oly   344,549    184,100    -    528,649    (38,635)   490,013 
Onyx   245,598    81,866    15,427    342,891    (17,510)   325,381 
Oscar   188,729    62,910    5,865    257,503    (11,091)   246,412 
Osceola   211,769    70,590    -    282,359    (11,551)   270,808 
Osprey   264,002    88,001    6,901    358,903    (26,651)   332,252 
Otoro   296,828    98,943    6,875    402,646    (30,502)   372,144 
Palmer   220,930    73,643    5,690    300,264    (12,993)   287,270 
Patrick   158,368    52,551    6,319    217,239    (24,680)   192,559 
Peanut   163,038    54,346    -    217,385    (15,810)   201,575 
Pearl   412,412    137,471    -    549,882    (37,492)   512,390 
Pecan   157,052    52,124    -    209,176    (22,391)   186,784 
Peterson   170,723    56,908    -    227,631    (7,760)   219,871 
Piedmont   289,947    97,027    -    386,974    (25,480)   361,494 

 

F-307

 

 

December 31, 2024 
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
Pinot   243,611    81,054    -    324,665    (32,211)   292,454 
Pioneer   431,448    143,816    15,000    590,263    (39,006)   551,258 
Plumtree   151,745    50,738    -    202,483    (22,079)   180,404 
Point   288,748    96,249    -    384,997    (27,125)   357,872 
Porthos   228,114    76,038    -    304,152    (11,751)   292,401 
Quincy   413,303    137,768    -    551,071    (36,320)   514,751 
Redondo   236,941    78,750    -    315,691    (17,950)   297,741 
Regency   208,617    68,750    -    277,367    (14,540)   262,827 
Reginald   329,750    108,750    26,869    465,368    (32,029)   433,339 
Reynolds   324,775    108,258    -    433,033    (28,541)   404,492 
Ribbonwalk   241,740    80,000    -    321,740    (27,837)   293,903 
Richardson   237,659    78,750    -    316,409    (20,165)   296,244 
Richmond   287,745    95,915    -    383,659    (13,079)   370,580 
Ridge   164,536    54,000    -    218,536    (20,442)   198,094 
Ritter   381,271    127,090    -    508,362    (34,661)   473,701 
River   201,388    66,250    -    267,638    (25,021)   242,617 
Riverwalk   298,504    99,501    -    398,005    (26,232)   371,773 
Rooney   242,468    129,500    -    371,968    (28,007)   343,961 
Roseberry   248,204    81,250    -    329,454    (30,085)   299,368 
Rosewood   204,541    68,180    -    272,722    (19,214)   253,507 
Roxy   246,352    82,117    -    328,469    (23,142)   305,327 
Saddlebred   357,856    118,750    17,602    494,208    (49,656)   444,551 
Saint   208,509    112,274    -    320,783    (21,483)   299,300 
Sajni   226,838    75,613    14,142    316,592    (20,072)   296,520 
Salem   241,306    80,225    -    321,531    (31,906)   289,625 
Salinas   172,670    57,557    8,994    239,220    (13,760)   225,461 
Saturn   163,562    53,750    6,480    223,792    (23,995)   199,797 
Scepter   177,069    94,500    -    271,569    (20,505)   251,064 
Sequoyah   187,039    62,000    5,041    254,080    (14,107)   239,973 
Shallowford   272,709    90,500    -    363,209    (23,162)   340,047 
Shoreline   234,300    77,500    -    311,800    (29,110)   282,690 
Sigma   289,989    96,250    -    386,239    (31,525)   354,714 
Simon   218,698    72,899    -    291,597    (11,266)   280,331 
Sims   206,196    68,732    -    274,929    (11,247)   263,681 
Soapstone   165,000    55,000    11,177    231,177    (24,412)   206,765 
Sodalis   218,882    72,961    -    291,842    (19,235)   272,607 

 

F-308

 

 

December 31, 2024 
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
Spencer   227,685    75,000    -    302,685    (29,097)   273,588 
Splash   163,770    53,750    -    217,520    (21,836)   195,684 
Spring   187,077    62,359    -    249,436    (16,440)   232,996 
Stonebriar   153,288    51,096    -    204,385    (14,400)   189,985 
Sugar   235,235    77,500    -    312,735    (29,242)   283,493 
Summerset   192,776    63,750    15,526    272,051    (28,158)   243,894 
Sundance   238,965    78,750    7,575    325,290    (21,386)   303,904 
Sunnyside   167,162    55,721    -    222,882    (11,651)   211,231 
Swift   259,781    86,594    5,641    352,015    (27,224)   324,791 
Taylor   173,433    58,010    5,354    236,796    (17,739)   219,057 
Terracotta   208,259    112,139    -    320,398    (20,195)   300,203 
Theodore   217,070    72,357    -    289,427    (11,182)   278,244 
Tulip   239,969    79,990    -    319,959    (23,270)   296,689 
Tuscan   244,164    80,225    -    324,389    (32,259)   292,129 
Tuscarora   252,508    83,998    -    336,505    (17,599)   318,906 
Tuxford   198,079    66,026    -    264,106    (19,808)   244,298 
Vernon   199,031    64,942    -    263,973    (24,728)   239,245 
Walton   226,775    75,592    -    302,367    (19,929)   282,438 
Wave   252,771    84,590    -    337,362    (25,277)   312,084 
Weldon   159,806    52,500    -    212,306    (18,886)   193,420 
Wellington   306,669    101,250    6,650    414,569    (28,570)   385,999 
Wentworth   172,251    56,550    8,000    236,801    (22,507)   214,294 
Wescott   207,088    69,029    -    276,118    (18,826)   257,291 
Westchester   257,791    85,000    -    342,791    (32,028)   310,763 
Wildwood   166,727    55,576    -    222,303    (15,662)   206,640 
Willow   221,118    73,250    -    294,368    (18,762)   275,607 
Wilson   289,478    96,830    5,795    392,103    (28,232)   363,871 
Winchester   200,150    66,717    5,698    272,564    (11,224)   261,340 
Windsor   264,500    87,500    -    352,000    (32,862)   319,138 
Winston   248,565    82,855    -    331,420    (21,090)   310,330 
Wisteria   224,188    74,729    7,912    306,830    (23,586)   283,244 
                               
   $57,440,937   $19,596,642   $549,424   $77,587,002   $(5,380,416)  $72,206,586 

 

F-309

 

 

December 31, 2023
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
100  $464,472   $154,824   $-   $619,296   $(26,742)  $592,553 
101   479,535    159,845    -    639,380    (26,157)   613,223 
Abbington   361,773    120,591    6,695    489,059    (20,403)   468,656 
Abernant   171,814    57,271    -    229,086    (1,562)   227,524 
Alvin   240,221    80,074    -    320,294    (2,184)   318,111 
Amber   231,434    76,250    -    307,684    (18,935)   288,748 
Apollo   148,028    49,343    -    197,371    (8,074)   189,297 
Aster   192,736    64,093    -    256,829    (9,345)   247,484 
Augusta   224,136    74,712    -    298,848    (4,075)   294,773 
Avebury   219,734    73,245    -    292,978    (13,983)   278,995 
Avondale   248,780    82,927    -    331,707    (4,523)   327,184 
Badminton   192,775    63,750    7,254    263,779    (17,767)   246,012 
Ballinger   225,915    75,305    -    301,220    -    301,220 
Bandelier   227,358    122,465    -    349,823    (17,913)   331,910 
Baron   440,147    142,573    -    582,719    (24,008)   558,711 
Basil   153,138    50,625    -    203,763    (13,922)   189,841 
Bayside   193,863    63,750    -    257,613    (17,036)   240,576 
Bazzel   187,453    62,484    19,530    269,468    (10,781)   258,687 
Bedford   211,603    70,534    -    282,138    (12,824)   269,313 
Bella   231,329    77,110    -    308,439    (3,505)   304,934 
Belle   332,313    110,771    -    443,084    (17,119)   425,965 
Belvedere   222,829    74,276    -    297,105    (4,051)   293,054 
Bergenia   164,244    54,748    -    218,993    -    218,993 
Blossom   192,230    64,077    -    256,307    (9,320)   246,986 
Bonneau   253,239    84,413    5,330    342,982    (13,611)   329,371 
Brainerd   219,905    72,500    -    292,405    (7,997)   284,408 
Braxton   244,842    80,875    -    325,717    (11,871)   313,845 
Brennan   171,314    57,105    -    228,419    (9,863)   218,555 
Briarwood   157,646    52,549    -    210,195    (1,433)   208,762 
Brooklyn   125,094    41,500    6,328    172,922    (5,709)   167,213 
Burlington   490,374    163,458    -    653,831    (26,748)   627,084 
Butter   286,835    93,724    -    380,558    (21,623)   358,935 
Calvin   178,500    59,500    -    238,000    (2,164)   235,837 
Camino   200,434    66,811    -    267,245    (10,325)   256,920 
Campbell   -    -    -    -    -    - 
Cawley   237,152    79,051    -    316,203    (3,593)   312,610 
Centennial   215,425    71,250    -    286,675    (19,585)   267,090 
Chaparral   148,009    49,491    -    197,500    (15,987)   181,513 
Chelsea   232,861    77,620    -    310,481    (14,818)   295,663 
Chester   280,215    93,000    -    373,215    (13,586)   359,628 

 

F-310

 

 

December 31, 2023
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
Chickamauga   282,098    93,075    -    375,173    (10,258)   364,915 
Chinook   230,186    76,729    7,665    314,580    (4,126)   310,454 
Chitwood   289,031    96,344    -    385,375    (14,889)   370,485 
Clover   249,340    83,113    -    332,453    (12,457)   319,996 
Coatbridge   205,145    67,500    7,962    280,607    (18,559)   262,048 
Collier   268,326    89,442    -    357,769    (13,823)   343,946 
Collinston   159,806    52,500    -    212,306    (13,075)   199,231 
Conway   519,077    171,250    -    690,327    (25,167)   665,159 
Cove   158,950    52,983    -    211,933    (3,853)   208,080 
Creekside   234,815    78,472    -    313,287    (12,097)   301,191 
Creekwood   218,448    72,375    -    290,823    (10,591)   280,232 
Cumberland   223,247    74,416    -    297,662    (10,824)   286,838 
Cupcake   166,444    54,639    8,000    229,083    (14,553)   214,529 
Cypress   275,692    91,250    -    366,942    (12,531)   354,411 
Daisy   227,590    75,863    -    303,453    (11,724)   291,729 
Davidson   160,008    52,500    -    212,508    (12,607)   199,901 
Dawson   171,298    56,250    5,028    232,575    (16,478)   216,097 
Delta   257,741    85,914    -    343,654    (17,183)   326,471 
Dewberry   143,700    47,500    -    191,200    (13,064)   178,136 
Diablo   195,243    103,950    -    299,193    (14,282)   284,911 
Dogwood   182,125    60,000    -    242,125    (9,382)   232,743 
Dolittle   232,183    76,093    -    308,276    (17,590)   290,687 
Dolly   521,147    173,682    -    694,829    (26,847)   667,983 
Dops   154,480    51,250    -    205,730    (5,149)   200,581 
Dorchester   259,980    86,660    -    346,640    (13,393)   333,247 
Dunbar   243,644    81,215    13,811    338,670    (13,980)   324,690 
Eagle   203,903    67,968    7,150    279,021    (9,983)   269,037 
Eastfair   162,575    53,750    -    216,325    (14,780)   201,546 
Eastwood   240,809    80,270    -    321,079    (2,189)   318,890 
Elevation   201,118    65,837    13,996    280,951    (18,374)   262,577 
Ella   197,272    65,757    -    263,030    (5,978)   257,052 
Ellen   187,200    62,400    -    249,600    (2,269)   247,331 
Elm   125,176    41,250    -    166,426    (10,733)   155,693 
Emporia   265,811    88,604    -    354,415    (17,721)   336,694 
Ensenada   365,214    196,000    -    561,214    (28,887)   532,327 
Falcon   204,606    67,500    7,000    279,106    (9,380)   269,725 
Felix   187,146    62,382    6,979    256,507    (3,185)   253,322 
Fenwick   226,605    75,535    -    302,140    (4,120)   298,020 
Fletcher   132,652    44,217    -    176,869    (1,608)   175,261 
Folly   235,178    78,393    8,504    322,074    (13,958)   308,116 
Forest   265,264    87,500    12,474    365,238    (24,115)   341,123 
Foster   236,883    78,961    -    315,843    (4,307)   311,537 

 

F-311

 

 

December 31, 2023
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
Franklin   225,740    75,247    5,186    306,173    (3,852)   302,320 
Gardens   166,712    55,571    5,548    227,830    (10,104)   217,726 
General   238,814    79,605    -    318,419    (3,618)   314,801 
Goose   189,997    63,332    6,700    260,029    (9,306)   250,723 
Grant   244,818    129,500    -    374,318    (19,289)   355,029 
Greenhill   246,644    82,215    -    328,858    (16,443)   312,415 
Gretal   341,305    112,500    -    453,805    (14,480)   439,325 
Grove   170,579    56,860    13,000    240,439    (14,022)   226,418 
Hadden   166,460    55,487    -    221,947    (11,097)   210,849 
Hansard   229,327    75,709    -    305,035    (7,644)   297,391 
Hansel   305,996    101,999    -    407,994    (13,909)   394,085 
Hargrave   176,640    58,880    -    235,520    (2,141)   233,379 
Harrison   346,265    115,000    -    461,265    (16,789)   444,477 
Henry   325,137    108,379    -    433,516    (16,749)   416,767 
Heritage   220,017    73,339    5,056    298,412    (14,185)   284,227 
Heron   216,890    72,297    5,305    294,492    (14,079)   280,413 
Highland   216,811    72,270    -    289,081    (11,169)   277,912 
Hines   193,050    64,350    8,950    266,350    (11,425)   254,925 
Hobbes   176,871    58,957    -    235,828    (2,144)   233,684 
Holcomb   268,238    89,413    -    357,651    (14,631)   343,019 
Holland   160,008    52,500    -    212,508    (13,091)   199,416 
Hollandaise   276,552    92,184    -    368,736    (17,599)   351,137 
Holloway   256,950    85,000    -    341,950    (23,359)   318,591 
Inglewood   514,831    169,750    -    684,581    (24,961)   659,619 
Irene   132,652    44,217    -    176,869    (1,608)   175,261 
Jack   313,439    104,480    6,782    424,700    (20,390)   404,310 
Jake   445,114    148,371    -    593,485    (24,279)   569,206 
Jefferson   207,755    68,441    -    276,196    (6,925)   269,271 
Jill   302,035    101,838    -    403,872    (14,644)   389,228 
Johnny   442,591    147,497    -    590,089    (22,800)   567,288 
June   442,591    147,497    -    590,089    (22,800)   567,288 
Jupiter   159,802    52,500    -    212,302    (13,075)   199,227 
Kawana   208,216    69,405    -    277,621    (13,250)   264,371 
Kennesaw   321,006    107,002    -    428,008    (16,537)   411,471 
Kenny   521,147    173,682    -    694,829    (26,847)   667,983 
KerriAnn   257,713    85,000    -    342,713    (20,305)   322,408 
Kessler   195,429    65,143    5,526    266,098    (11,633)   254,464 
Kingsley   238,075    78,750    -    316,825    (21,451)   295,374 

 

F-312

 

 

December 31, 2023
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
Kirkwood   197,564    65,855    -    263,419    (11,375)   252,044 
Korin   210,256    69,716    -    279,972    (7,646)   272,326 
Lallie   280,725    92,500    10,869    384,094    (26,121)   357,973 
Lanier   285,656    95,219    5,121    385,996    (16,703)   369,293 
Lannister   132,923    44,308    6,100    183,331    (9,792)   173,539 
Latte   275,597    91,866    -    367,463    (14,197)   353,266 
Lennox   163,783    53,750    -    217,533    (14,393)   203,140 
Lierly   161,250    53,750    -    215,000    (17,265)   197,735 
Lily   380,574    126,250    31,533    538,356    (33,813)   504,543 
Limestone   221,258    72,500    -    293,758    (18,103)   275,655 
Litton   242,715    80,000    -    322,715    (8,826)   313,889 
Longwoods   203,601    67,867    -    271,468    (3,702)   267,766 
Lookout   260,780    86,927    -    347,707    (14,224)   333,483 
Loretta   518,678    171,250    -    689,928    (25,148)   664,780 
Louis   203,538    67,846    -    271,384    (3,701)   267,683 
Louise   208,392    69,464    -    277,856    (12,630)   265,226 
Lovejoy   222,438    74,146    -    296,584    (14,155)   282,429 
Luna   162,575    53,750    -    216,325    (14,780)   201,546 
Lurleen   165,449    55,150    10,401    230,999    (9,502)   221,497 
Madison   155,520    51,840    -    207,360    (8,483)   198,877 
Mae   267,516    89,172    -    356,688    (13,781)   342,907 
Magnolia   189,690    63,230    7,050    259,970    (13,037)   246,933 
Malbec   241,344    80,225    -    321,568    (23,134)   298,434 
Mammoth   257,706    85,902    -    343,608    (15,619)   327,989 
Marcelo   215,116    71,705    -    286,822    (10,430)   276,392 
Marie   241,848    79,625    -    321,473    (8,062)   313,411 
Marietta   228,678    76,807    -    305,485    (11,780)   293,705 
Marion   192,484    64,161    5,564    262,209    (3,963)   258,246 
Marple   132,652    44,217    -    176,869    (2,412)   174,457 
Martell   196,472    65,491    -    261,963    (3,572)   258,391 
Mary   205,277    68,426    -    273,703    (3,732)   269,971 
Matchingham   160,191    52,273    -    212,463    (12,621)   199,842 
McGregor   227,254    75,751    -    303,005    (13,084)   289,920 
McLovin   343,044    183,750    -    526,794    (24,875)   501,918 
Meadow   242,548    80,000    -    322,548    (19,845)   302,704 
Mimosa   159,969    53,750    -    213,719    (6,893)   206,826 

 

F-313

 

 

December 31, 2023
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
Mojave   178,180    58,500    8,000    244,680    (16,166)   228,514 
Murphy   224,701    73,612    -    298,312    (17,023)   281,290 
Mycroft   135,657    45,219    -    180,876    (2,466)   178,409 
Nugget   423,141    141,047    -    564,188    (23,081)   541,108 
Odessa   403,261    133,750    -    537,011    (32,994)   504,017 
Olive   175,139    57,500    5,044    237,683    (16,820)   220,863 
Oly   344,549    184,100    -    528,649    (26,106)   502,542 
Onyx   245,598    81,866    15,427    342,891    (5,494)   337,397 
Oscar   188,729    62,910    5,865    257,503    (3,055)   254,448 
Osceola   211,769    70,590    -    282,359    (3,850)   278,508 
Osprey   264,002    88,001    6,901    358,903    (15,670)   343,233 
Otoro   296,828    98,943    6,875    402,646    (18,333)   384,313 
Palmer   220,930    73,643    5,690    300,264    (3,822)   296,442 
Patrick   158,368    52,551    6,319    217,239    (17,644)   199,594 
Peanut   163,038    54,346    -    217,385    (9,881)   207,503 
Pearl   412,412    137,471    -    549,882    (22,495)   527,387 
Pecan   157,052    52,124    -    209,176    (16,666)   192,509 
Peterson   170,723    56,908    -    227,631    (1,552)   226,079 
Piedmont   289,947    97,027    -    386,974    (14,937)   372,038 
Pinot   243,611    81,054    -    324,665    (23,352)   301,313 
Pioneer   431,448    143,816    15,000    590,263    (22,772)   567,492 
Plumtree   151,745    50,738    -    202,483    (16,544)   185,939 
Point   288,748    96,249    -    384,997    (16,625)   368,372 
Porthos   228,114    76,038    -    304,152    (3,456)   300,696 
Quincy   413,303    137,768    -    551,071    (21,291)   529,780 
Redondo   236,941    78,750    -    315,691    (9,334)   306,357 
Regency   208,617    68,750    -    277,367    (6,954)   270,413 
Reginald   329,750    108,750    8,200    446,700    (18,038)   428,662 
Reynolds   324,775    108,258    -    433,033    (16,731)   416,302 
Ribbonwalk   241,740    80,000    -    321,740    (19,046)   302,694 
Richardson   237,659    78,750    -    316,409    (11,523)   304,886 
Richmond   287,745    95,915    -    383,659    (2,616)   381,043 
Ridge   164,536    54,000    -    218,536    (14,459)   204,077 
Ritter   381,271    127,090    -    508,362    (20,797)   487,565 
River   201,388    66,250    -    267,638    (17,698)   249,940 
Riverwalk   298,504    99,501    -    398,005    (15,378)   382,628 
Rooney   242,468    129,500    -    371,968    (19,163)   352,805 
Roseberry   248,204    81,250    -    329,454    (21,060)   308,394 

 

F-314

 

 

December 31, 2023
Series  Building   Land   Property
Improvements		   Total   Less:  
Accumulated
Depreciation		   Property and
equipment,
net		 
Rosewood   204,541    68,180    -    272,722    (11,777)   260,945 
Roxy   246,352    82,117    -    328,469    (14,184)   314,285 
Saddlebred   357,856    118,750    17,602    494,208    (34,379)   459,829 
Saint   208,509    112,274    -    320,783    (13,901)   306,883 
Sajni   226,838    75,613    14,142    316,592    (8,995)   307,597 
Salem   241,306    80,225    -    321,531    (23,131)   298,399 
Salinas   172,670    57,557    8,994    239,220    (5,682)   233,538 
Saturn   163,562    53,750    6,480    223,792    (16,731)   207,061 
Scepter   177,069    94,500    -    271,569    (14,030)   257,539 
Sequoyah   187,039    62,000    -    249,039    (6,801)   242,237 
Shallowford   272,709    90,500    -    363,209    (13,245)   349,964 
Shoreline   234,300    77,500    -    311,800    (20,590)   291,210 
Sigma   289,989    96,250    -    386,239    (21,046)   365,193 
Simon   218,698    72,899    -    291,597    (3,314)   288,283 
Sims   206,196    68,732    -    274,929    (3,749)   271,179 
Soapstone   165,000    55,000    -    220,000    (17,667)   202,333 
Sodalis   218,882    72,961    -    291,842    (11,276)   280,566 
Spencer   227,685    75,000    -    302,685    (20,784)   281,901 
Splash   163,770    53,750    -    217,520    (15,881)   201,639 
Spring   187,077    62,359    -    249,436    (9,637)   239,799 
Stonebriar   153,288    51,096    -    204,385    (8,826)   195,559 
Sugar   235,235    77,500    -    312,735    (20,684)   292,051 
Summerset   192,776    63,750    15,526    272,051    (18,043)   254,009 
Sundance   238,965    78,750    7,575    325,290    (11,181)   314,109 
Sunnyside   167,162    55,721    -    222,882    (5,572)   217,310 
Swift   259,781    86,594    5,641    352,015    (16,649)   335,366 
Taylor   173,433    58,010    5,354    236,796    (10,362)   226,434 
Terracotta   208,259    112,139    -    320,398    (12,622)   307,776 
Theodore   217,070    72,357    -    289,427    (3,289)   286,138 
Tulip   239,969    79,990    -    319,959    (14,544)   305,415 
Tuscan   244,164    80,225    -    324,389    (23,381)   301,008 
Tuscarora   252,508    83,998    -    336,505    (8,417)   328,088 
Tuxford   198,079    66,026    -    264,106    (12,605)   251,501 
Vernon   199,031    64,942    -    263,973    (17,491)   246,482 
Walton   226,775    75,592    -    302,367    (11,682)   290,685 
Wave   252,771    84,590    -    337,362    (16,085)   321,276 
Weldon   159,806    52,500    -    212,306    (13,075)   199,231 
Wellington   306,669    101,250    6,650    414,569    (16,088)   398,481 
Wentworth   172,251    56,550    8,000    236,801    (15,674)   221,127 
Wescott   207,088    69,029    -    276,118    (11,296)   264,822 
Westchester   257,791    85,000    -    342,791    (22,654)   320,137 
Wildwood   166,727    55,576    -    222,303    (9,599)   212,703 
Willow   221,118    73,250    -    294,368    (10,721)   283,647 
Wilson   289,478    96,830    5,795    392,103    (16,510)   375,593 
Winchester   200,150    66,717    5,698    272,564    (2,806)   269,758 
Windsor   264,500    87,500    -    352,000    (23,244)   328,756 
Winston   248,565    82,855    -    331,420    (12,052)   319,369 
Wisteria   224,188    74,729    7,912    306,830    (13,851)   292,979 
                               
   $57,656,362   $19,667,892   $481,084   $77,805,338   $(3,227,932)  $74,577,406 

 

F-315

 

 

NOTE 5: MORTGAGE PAYABLE, NET

 

The Company has mortgages with Arvest Bank, Certain Lending, and Arrived Short Term Notes, LLC , an affiliate of the Manager. The following is a summary of the mortgages by each Series as of December 31, 2024 and 2023:

 

December 31, 2024 
Series Name  Lender  Address  Mortgage payables   Term   Interest Only Period   Interest Rate 
Arrived NC Amber, LLC  Certain Lending  7312 Amberly Hills Rd, Charlotte, NC 28215  $200,830    30    7    3.875%
Arrived Homes Series Apollo, a series of Arrived Homes, LLC  Certain Lending  609 Marguerite Drive NW, Huntsville, AL 35805   136,500    30    7    5.625%
Arrived AR Aster, LLC  Certain Lending  490 W Aster Avenue, Farmington, AR 72730   127,500    30    7    6.625%
Arrived AL Avebury, LLC  Certain Lending  287 Avebury Rd, Meridianville, AL 35759   203,000    30    7    3.875%
Arrived SC Badminton, LLC  Certain Lending  414 Badminton Ct, Lexington, SC 29072   174,200    30    5    4.625%
Arrived AZ Bandelier, LLC  Certain Lending  6180 W Bandelier Ct, Tucson, AZ 85742   244,930    30    7    3.875%
Arrived SC Basil, LLC  Certain Lending  317 Morning Creek Dr, Easley, SC 29640   131,625    30    5    4.625%
Arrived SC Bayside, LLC  Certain Lending  59 Bayside Ct, Columbia, SC 29229   165,750    30    7    4.625%
Arrived SC Bedford, LLC  Certain Lending  808 Derby Downs Ct, Elgin, SC 29045   196,000    30    7    3.875%
Arrived TN Brainerd, LLC  Arrived Short Term Notes, LLC  1307 Vance Road, Chattanooga, TN 37421   145,000    5    5    5.950%
Arrived AL Brennan, LLC  Certain Lending  1305 19th Avenue SW, Decatur, AL 35601   157,500    30    7    5.625%
Arrived Homes Series Brooklyn, a series of Arrived Homes, LLC  Arrived Short Term Notes, LLC  2261 Reece Boulevard, Tuscaloosa, AL 35401   83,000    5    5    5.950%
Arrived SC Butter, LLC  Certain Lending  162 Lucky Day Dr, Summerville, SC 29486   262,426    30    7    3.875%
Arrived AR Chaparral, LLC  Arvest Bank  4309 W Chaparral Ln, Fayetteville, AR 72704   104,310    10    5    4.000%
Arrived AL Chelsea, LLC  Certain Lending  274 Chelsea Park Rd, Chelsea, AL 35043   215,492    30    7    3.875%
Arrived TN Chester, LLC  Certain Lending  6097 Amber Forest Trail, Hixson, TN 37343   186,000    30    7    6.625%
Arrived SC Coatbridge, LLC  Certain Lending  125 Cloverwood Drive SW, Huntsville, AL 35824   175,500    30    5    4.625%
Arrived NC Collinston, LLC  Certain Lending  1129 Cloud View Drive, Powell, TN 37849   136,500    30    5    3.875%
Arrived Homes Series Creekwood, a series of Arrived Homes, LLC  Certain Lending  439 N Otoe Street, Farmington, AR 72730   144,750    30    7    6.625%
Arrived AR Cupcake LLC  Certain Lending  702 Jim Brown Drive, Clarksville, TN 37042   152,989    30    7    3.875%
Arrived GA Cypress, LLC  Certain Lending  3450 Cypress Club Trail, Austell, GA 30106   182,500    30    7    6.625%
Arrived NC Davidson LLC  Certain Lending  1812 Anthony Drive, Rogers, AR 72756   147,000    30    7    3.875%
Arrived SC Dawson, LLC  Certain Lending  313 Dawsons Park Dr, Lexington, SC 29072   146,250    30    5    4.625%
Arrived GA Delta, LLC  Certain Lending  5042 Rapahoe Trl, Atlanta, GA 30349   226,800    30    7    3.875%

 

F-316

 

 

December 31, 2024 
Series Name  Lender  Address  Mortgage payables   Term   Interest Only Period   Interest Rate 
Arrived SC Dewberry, LLC  Certain Lending  130 Bonhomme Cir, Lexington, SC 29072   121,225    30    5    4.625%
Arrived AZ Diablo, LLC  Certain Lending  6566 S Diablo Dr, Tucson, AZ 85757   207,900    30    7    3.875%
Arrived SC Dolittle, LLC  Certain Lending  1335 Maxwell Circle, Tuscaloosa, AL 35405   207,577    30    7    3.875%
Arrived AR Eagle, LLC  Certain Lending  1416 Mutual Drive, Clarksville, TN 37042   135,000    30    7    6.625%
Arrived SC Eastfair, LLC  Certain Lending  461 Eastfair Dr, Columbia, SC 29209   150,000    30    5    4.625%
Arrived SC Elevation, LLC  Certain Lending  305 Elevation Ct, Inman, SC 29349   172,250    30    5    4.625%
Arrived SC Elm, LLC  Certain Lending  1231 Tolliver St, Columbia, SC 29201   107,250    30    5    4.625%
Arrived GA Emporia, LLC  Certain Lending  625 Emporia Loop, McDonough, GA 30253   245,000    30    7    3.875%
Arrived CO Ensenada, LLC  Certain Lending  6293 N Ensenada Ct, Aurora, CO 80019   392,000    30    7    3.875%
Arrived AR Falcon, LLC  Certain Lending  375 Canada Dr, Farmington, AR 72730   135,000    30    7    6.625%
Arrived SC Forest, LLC  Certain Lending  199 Longford Drive, Summerville, SC 29483   227,500    30    5    4.625%
Arrived Homes Series Gardens, a series of Arrived Homes, LLC  Certain Lending  2014 Inverness Pkwy, Tuscaloosa, AL 35405   136,500    30    7    4.750%
Arrived AR Goose, LLC  Certain Lending  561 N Goose Crossing, Farmington, AR 72730   125,750    30    7    6.625%
Arrived GA Grant, LLC  Certain Lending  1770 Grant Ct, Braselton, GA 30517   259,000    30    7    3.875%
Arrived SC Greenhill, LLC  Certain Lending  640 Frow Dr, Elgin, SC 29045   227,784    30    7    3.875%
Arrived Homes Series Grove, a series of Arrived Homes, LLC  Certain Lending  4485 Jack Faulk St, Murfreesboro, TN 37127   157,500    30    7    4.750%
Arrived SC Hadden, LLC  Certain Lending  142 Hadden St, Duncan, SC 29334   143,500    30    7    3.875%
Arrived TN Hansel, LLC  Certain Lending  2414 Stream View Lane, Morristown, TN 37814   201,995    30    7    6.625%
Arrived TN Harrison, LLC  Certain Lending  5776 Caney Ridge Circle, Ooltewah, TN 37363   230,000    30    7    6.625%
Arrived Homes Series Heritage, a series of Arrived Homes, LLC  Certain Lending  332 Madison Grace Avenue, McDonough, GA 30252   203,000    30    7    4.750%
Arrived SC Heron, LLC  Certain Lending  8334 Whitehaven Drive, North Charleston, SC 29420   200,900    30    7    4.750%
Arrived NC Holland LLC  Certain Lending  1994 Bridgewater Pass, Hampton, GA 30228   147,000    30    5    4.625%
Arrived TN Hollandaise, LLC  Certain Lending  741 Hollandale Rd, La Vergne, TN 37086   255,500    30    7    3.875%
Arrived SC Holloway, LLC  Certain Lending  601 W Czardas Way, Woodruff, SC 29388   221,000    30    5    4.625%

 

F-317

 

 

December 31, 2024 
Series Name  Lender  Address  Mortgage payables   Term   Interest Only Period   Interest Rate 
Arrived TN Jack, LLC  Certain Lending  4434 Jack Faulk St, Murfreesboro, TN 37127   289,629    30    7    4.375%
Arrived TN Jill, LLC  Certain Lending  2328 Beacon Road, Talbott, TN 37877   201,320    30    7    6.625%
Arrived NC Jupiter LLC  Certain Lending  520 Yokley Drive, Nashville, TN 37207   139,750    30    5    4.625%
Arrived AL Kawana, LLC  Certain Lending  28041 Kawana Ct, Harvest, AL 35749   192,500    30    7    3.875%
Arrived NC KerriAnn, LLC  Certain Lending  1843 Meade Avenue, Nashville, TN 37207   238,000    30    7    3.875%
Arrived AR Kessler, LLC  Certain Lending  12520 Meadow Oaks Lane, Farmington, AR 72730   128,500    30    7    6.625%
Arrived SC Kingsley, LLC  Certain Lending  505 Kingsley View Rd, Blythewood, SC 29016   215,000    30    5    4.625%
Arrived TN Kirkwood, LLC  Certain Lending  1064 Cindy Jo Court, Clarksville, TN 37040   182,000    30    7    4.750%
Arrived SC Lallie, LLC  Certain Lending  1042 E Sparrow Circle, Fayetteville, AR 72701   240,500    30    5    4.625%
Arrived Homes Series Lanier, a series of Arrived Homes, LLC  Certain Lending  6464 Flowery Way, Flowery Branch, GA 30542   263,900    30    7    4.750%
Arrived Homes Series Lannister, a series of Arrived Homes, LLC  Certain Lending  2263 Reece Blvd, Tuscaloosa, AL 35401   115,500    30    7    6.125%
Arrived SC Lennox, LLC  Certain Lending  6030 Thorntons Way Circle, Huntsville, AL 35810   139,750    30    5    4.625%
Arrived AR Lierly, LLC  Arvest Bank  4203 W Lierly Ln, Fayetteville, AR 72704   131,100    10    5    4.000%
Arrived CO Lily, LLC  Certain Lending  9799 Desert Lily Cir, Colorado Springs, CO 80925   311,500    30    7    3.875%
Arrived SC Limestone LLC  Certain Lending  863 Bergenfield Ln, Chapin, SC 29036   203,000    30    5    3.875%
Arrived TN Litton, LLC  Arrived Short Term Notes, LLC  7304 Calla Crossing, Knoxville, TN 37918   160,000    5    5    5.950%
Arrived Homes Series Louise, a series of Arrived Homes, LLC  Arrived Short Term Notes, LLC  2615 Lily Way, Northport, AL 35473   182,000    5    7    4.375%
Arrived GA Lovejoy, LLC  Certain Lending  2658 Lovejoy Crossing Dr, Hampton, GA 30228   205,100    30    7    3.875%
Arrived SC Luna, LLC  Certain Lending  417 Hosea Ct, Lexington, SC 29072   150,000    30    5    4.625%
Arrived Homes Series Lurleen, a series of Arrived Homes, LLC  Arrived Short Term Notes, LLC  129 Whitestone Drive Northeast, Huntsville, AL 35810   110,000    5    5    6.990%
Arrived Homes Series Madison, a series of Arrived Homes, LLC  Certain Lending  902 Appleby Street NW, Huntsville, AL 35816   102,500    30    7    6.000%
Arrived GA Magnolia, LLC  Certain Lending  7088 Luna Mae Court, Boiling Springs, SC 29316   175,000    30    7    5.625%
Arrived AR Malbec, LLC  Certain Lending  755 N Malbec Rd, Fayetteville, AR 72704   208,585    30    5    4.625%
Arrived Homes Series Mammoth, a series of Arrived Homes, LLC  Arrived Short Term Notes, LLC  200 Vernon Walk, McDonough, GA 30252   238,000    5    7    4.750%

 

F-318

 

 

December 31, 2024 
Series Name  Lender  Address  Mortgage payables   Term   Interest Only Period   Interest Rate 
Arrived SC Marietta, LLC  Certain Lending  309 Hayley Marie Lane, Knoxville, TN 37920   152,113    30    7    6.625%
Arrived SC Matchingham, LLC  Certain Lending  1077 Matchingham Dr, Columbia, SC 29223   146,364    30    7    3.875%
Arrived CO McLovin, LLC  Certain Lending  674 Sly Fox Drive, Clarksville, TN 37040   367,500    30    7    3.875%
Arrived NC Meadow, LLC  Certain Lending  9235 Avery Meadows Dr, Charlotte, NC 28216   214,900    30    7    3.875%
Arrived Homes Series Mimosa, a series of Arrived Homes, LLC  Arrived Short Term Notes, LLC  6208 Mimosa Gardens Drive, Tuscaloosa, AL 35405   107,500    5    5    6.625%
Arrived AR Mojave LLC  Certain Lending  340 N Mojave St, Farmington, AR 72730   163,800    30    7    3.875%
Arrived SC Murphy, LLC  Certain Lending  211 Doolittle Dr, Chapin, SC 29036   207,270    30    7    3.875%
Arrived CO Odessa, LLC  Arrived Short Term Notes, LLC  10134 Zeno Street, Commerce City, CO 80022   374,500    5    7    3.875%
Arrived SC Olive, LLC  Certain Lending  240 Tea Olive Ave, Lexington, SC 29073   126,100    30    5    4.625%
Arrived CO Oly, LLC  Certain Lending  8880 E 106th Pl, Commerce City, CO 80640   368,200    30    7    3.875%
Arrived GA Otoro, LLC  Certain Lending  5121 Morrow Lane, Summerville, SC 29485   274,400    30    7    3.875%
Arrived AR Patrick, LLC  Arvest Bank  4309 W Patrick St, Fayetteville, AR 72704   108,300    10    5    4.000%
Arrived Homes Series Peanut, a series of Arrived Homes, LLC  Certain Lending  160 Roscommon Rd, Tuscaloosa, AL 35405   147,000    30    7    4.750%
Arrived AR Pecan, LLC  Arvest Bank  1929 14th Ave N, Nashville, TN 37208   112,860    10    5    4.000%
Arrived GA Piedmont, LLC  Certain Lending  4774 Brookwood Place, Atlanta, GA 30349   192,500    30    7    6.625%
Arrived AR Pinot, LLC  Certain Lending  763 N Malbec Rd, Fayetteville, AR 72704   210,740    30    5    4.625%
Arrived AR Plumtree, LLC  Arvest Bank  9363 Sedalia Street, Commerce City, CO 80022   111,150    10    5    4.000%
Arrived TN Point, LLC  Certain Lending  1129 Hilliard Lane, Clarksville, TN 37042   267,750    30    7    4.750%
Arrived NM Redondo, LLC  Arrived Short Term Notes, LLC  27003 E Archer Avenue, Aurora, CO 80018   157,500    5    5    6.625%
Arrived OH Regency, LLC  Arrived Short Term Notes, LLC  200 Regency Square, Maineville, OH 45039   137,500    5    5    6.990%
Arrived NC Ribbonwalk, LLC  Certain Lending  2712 Trey Court, Ellenwood, GA 30294   224,000    30    7    3.875%
Arrived SC Ridge, LLC  Certain Lending  308 Oristo Ridge Way, West Columbia, SC 29170   140,400    30    5    4.625%
Arrived SC River, LLC  Certain Lending  8824 Canary Circle, Colorado Springs, CO 80908   172,250    30    5    4.625%
Arrived AZ Rooney, LLC  Certain Lending  6377 Winlerkorn Lane, Ooltewah, TN 37363   259,000    30    7    3.875%
Arrived SC Roseberry, LLC  Certain Lending  5013 Paddy Field Way, Ladson, SC 29456   211,250    30    5    4.625%
Arrived Homes Series Rosewood, a series of Arrived Homes, LLC  Certain Lending  2633 Lily Way, Northport, AL 35473   189,000    30    7    4.750%

 

F-319

 

 

December 31, 2024  
Series Name  Lender  Address  Mortgage payables   Term   Interest Only Period   Interest Rate 
Arrived TN Roxy, LLC  Certain Lending  3736 Gray Fox Drive, Clarksville, TN 37040   220,500    30    7    4.750%
Arrived CO Saddlebred, LLC  Certain Lending  6213 Saddlebred Way, Colorado Springs, CO 80925   332,500    30    5    3.875%
Arrived AZ Saint, LLC  Certain Lending  7713 W Long Boat Way, Tucson, AZ 85757   211,992    30    7    3.875%
Arrived AR Salem, LLC  Certain Lending  659 N Salem Rd, Fayetteville, AR 72704   212,550    30    5    4.625%
Arrived NC Saturn, LLC  Certain Lending  923 Jupiter St, Gastonia, NC 28052   139,750    30    5    4.625%
Arrived AZ Scepter, LLC  Certain Lending  216 E Scepter Ln, Vail, AZ 85641   189,000    30    5    3.875%
Arrived AR Sequoyah, LLC  Arrived Short Term Notes, LLC  981 E Starling St, Fayetteville, AR 72704   124,000    5    5    6.490%
Arrived TN Shallowford, LLC  Certain Lending  7258 Noah Reid Road, Chattanooga, TN 37421   181,000    30    7    6.625%
Arrived SC Shoreline, LLC  Certain Lending  606 Shoreline Blvd, Boiling Springs, SC 29316   211,900    30    5    4.625%
Arrived NC Sigma, LLC  Certain Lending  116 Canvasback Dr, Durham, NC 27704   269,500    30    7    3.875%
Arrived AR Soapstone, LLC  Arvest Bank  4672 W Soapstone Dr, Fayetteville, AR 72704   128,250    10    5    4.000%
Arrived SC Spencer, LLC  Certain Lending  8539 Gold Rush Way, Camby, IN 46113   195,000    30    5    4.625%
Arrived AR Splash, LLC  Arvest Bank  994 S Splash Dr, Fayetteville, AR 72701   122,500    10    5    4.000%
Arrived Homes Series Stonebriar, a series of Arrived Homes, LLC  Certain Lending  352 Robin Helton Drive, Boiling Springs, SC 29316   134,400    30    7    4.750%
Arrived SC Sugar, LLC  Certain Lending  300 Southern Sugar Ave, Moncks Corner, SC 29461   201,500    30    5    4.625%
Arrived SC Summerset, LLC  Certain Lending  2016 Culloden Dr, Summerville, SC 29483   165,750    30    5    4.625%
Arrived NM Sundance, LLC  Arrived Short Term Notes, LLC  620 Creekside Avenue SW, Los Lunas, NM 87031   157,500    5    5    6.625%
Arrived Homes Series Taylor, a series of Arrived Homes, LLC  Certain Lending  3010 Chris Circle, Villa Rica, GA 30180   115,000    30    7    6.625%
Arrived AZ Terracotta, LLC  Certain Lending  10954 E Oak Grove Pl, Tucson, AZ 85747   222,600    30    7    3.875%
Arrived Homes Series Tulip, a series of Arrived Homes, LLC  Certain Lending  7339 Tulip Trestle Ct, Northport, AL 35473   221,900    30    7    4.750%
Arrived AR Tuscan, LLC  Arvest Bank  3474 W Tuscan Rd, Fayetteville, AR 72704   181,480    10    5    4.000%
Arrived SC Tuxford, LLC  Certain Lending  10633 Caresso Loop Southwest, Albuquerque, NM 87121   178,500    30    7    3.875%
Arrived SC Vernon, LLC  Certain Lending  135 McMakin Dr, Lyman, SC 29365   181,837    30    7    3.875%
Arrived GA Wave, LLC  Certain Lending  3211 SW Stonepoint Avenue, Bentonville, AR 72712   224,000    30    7    3.875%
Arrived NC Weldon LLC  Certain Lending  914 N Ransom St, Gastonia, NC 28052   136,500    30    5    3.875%
Arrived AR Wentworth, LLC  Certain Lending  412 Astoria Way, McDonough, GA 30253   158,340    30    7    3.875%
Arrived TN Wescott, LLC  Certain Lending  416 Sandburg Drive, Clarksville, TN 37042   136,250    30    7    6.125%
Arrived SC Westchester, LLC  Certain Lending  488 Forest Creek Way, Elgin, SC 29045   198,900    30    5    4.625%
Arrived TN Wildwood, LLC  Certain Lending  1672 Southern Heights Circle SE, Cleveland, TN 37311   110,000    30    7    5.500%
Arrived SC Windsor, LLC  Certain Lending  3910 Greico Rd, North Charleston, SC 29420   227,500    30    5    4.625%
Arrived Homes Series Wisteria, a series of Arrived Homes, LLC  Certain Lending  8304 Stillwater Circle NW, Huntsville, AL 35806   207,477    30    7    4.750%
                           
         $24,021,338                

 

F-320

 

 

December 31, 2023 
Series Name  Lender  Address  Mortgage Principal   Term   Interest Only Period   Interest Rate 
Arrived NC Amber, LLC  Certain Lending  7312 Amberly Hills Rd, Charlotte, NC 28215  $200,830    30    7    3.875%
Arrived Homes Series Apollo, a series of Arrived Homes, LLC  Certain Lending  609 Marguerite Drive, Huntsville, AL 35808   136,500    30    7    5.625%
Arrived AR Aster, LLC  Certain Lending  490 W Aster Avenue, Farmington, AR 72730   127,500    30    7    6.625%
Arrived AL Avebury, LLC  Certain Lending  287 Avebury Rd, Meridianville, AL 35759   203,000    30    7    3.875%
Arrived SC Badminton, LLC  Certain Lending  414 Badminton Ct, Lexington, SC 29072   174,200    30    5    4.625%
Arrived AZ Bandelier, LLC  Certain Lending  6180 W Bandelier Ct, Tucson, AZ 85742   244,930    30    7    3.875%
Arrived SC Basil, LLC  Certain Lending  317 Morning Creek Dr, Easley, SC 29640   131,625    30    5    4.625%
Arrived SC Bayside, LLC  Certain Lending  59 Bayside Ct, Columbia, SC 29229   165,750    30    7    4.625%
Arrived SC Bedford, LLC  Certain Lending  808 Derby Downs Ct, Elgin, SC 29045   196,000    30    7    3.875%
Arrived TN Brainerd, LLC  Arrived Holdings  1307 Vance Road, Chattanooga, TN 37421   145,000    30    5    5.950%
Arrived AL Brennan, LLC  Certain Lending  1305 19th Avenue SW, Decatur, AL 35603   157,500    30    7    5.625%
Arrived Homes Series Brooklyn, a series of Arrived Homes, LLC  Arrived Holdings  2261 Reece Boulevard, Tuscaloosa, AL 35401   83,000    30    5    5.950%
Arrived SC Butter, LLC  Certain Lending  162 Lucky Day Dr, Summerville, SC 29486   262,426    30    7    3.875%
Arrived NC Centennial LLC  Certain Lending  726 Centennial St, Gastonia, NC 28056   190,000    30    5    4.625%
Arrived AR Chaparral, LLC  Arvest Bank  4309 W Chaparral Ln, Fayetteville, AR 72704   104,310    10    5    4.00%
Arrived AL Chelsea, LLC  Certain Lending  274 Chelsea Park Rd, Chelsea, AL 35043   215,492    30    7    3.875%

 

F-321

 

 

December 31, 2023 
Series Name  Lender  Address  Mortgage Principal   Term   Interest Only Period   Interest Rate 
Arrived TN Chester, LLC  Certain Lending  6097 Amber Forest Trail, Hixson, TN 37343   186,000    30    7    6.625%
Arrived SC Coatbridge, LLC  Certain Lending  172 Coatbridge Dr, Blythewood, SC 29016   175,500    30    5    4.625%
Arrived NC Collinston, LLC  Certain Lending  1507 Collinston Dr, Gastonia, NC 28052   136,500    30    5    3.875%
Arrived Homes Series Creekwood, a series of Arrived Homes, LLC  Certain Lending  361 Harbor Glen Drive SW, Madison, AL 35756   144,750    30    7    6.625%
Arrived AR Cupcake LLC  Certain Lending  358 N Mojave St, Farmington, AR 72730   152,989    30    7    3.875%
Arrived GA Cypress, LLC  Certain Lending  3450 Cypress Club Trail, Austell, GA 30106   182,500    30    7    6.625%
Arrived NC Davidson LLC  Certain Lending  922 W Davidson St, Gastonia, NC 28052   147,000    30    7    3.875%
Arrived SC Dawson, LLC  Certain Lending  313 Dawsons Park Dr, Lexington, SC 29072   146,250    30    5    4.625%
Arrived GA Delta, LLC  Certain Lending  5042 Rapahoe Trl, Atlanta, GA 30349   226,800    30    7    3.875%
Arrived SC Dewberry, LLC  Certain Lending  130 Bonhomme Cir, Lexington, SC 29072   121,225    30    5    4.625%
Arrived AZ Diablo, LLC  Certain Lending  6566 S Diablo Dr, Tucson, AZ 85757   207,900    30    7    3.875%
Arrived SC Dolittle, LLC  Certain Lending  204 Doolittle Dr, Chapin, SC 29036   207,577    30    7    3.875%
Arrived AR Eagle, LLC  Certain Lending  554 N Goose Crossing, Farmington, AR 72730   135,000    30    7    6.625%
Arrived SC Eastfair, LLC  Certain Lending  461 Eastfair Dr, Columbia, SC 29209   150,000    30    5    4.625%
Arrived SC Elevation, LLC  Certain Lending  305 Elevation Ct, Inman, SC 29349   172,250    30    5    4.625%
Arrived TN Ella, LLC  Vontive  534 Somerset Lane, Clarksville, TN 37040   -    1    1    11.50%
Arrived SC Elm, LLC  Certain Lending  1231 Tolliver St, Columbia, SC 29201   107,250    30    5    4.625%
Arrived GA Emporia, LLC  Certain Lending  625 Emporia Loop, McDonough, GA 30253   245,000    30    7    3.875%
Arrived CO Ensenada, LLC  Certain Lending  6293 N Ensenada Ct, Aurora, CO 80019   392,000    30    7    3.875%
Arrived AR Falcon, LLC  Certain Lending  375 Canada Dr, Farmington, AR 72730   135,000    30    7    6.625%
Arrived SC Forest, LLC  Certain Lending  407 Forest Hills Rd, Summerville, SC 29486   227,500    30    5    4.625%
Arrived Homes Series Gardens, a series of Arrived Homes, LLC  Certain Lending  2014 Inverness Pkwy, Tuscaloosa, AL 35405   136,500    30    7    4.750%
Arrived AR Goose, LLC  Certain Lending  561 N Goose Crossing, Farmington, AR 72730   125,750    30    7    6.625%
Arrived GA Grant, LLC  Certain Lending  1770 Grant Ct, Braselton, GA 30517   259,000    30    7    3.875%
Arrived SC Greenhill, LLC  Certain Lending  640 Frow Dr, Elgin, SC 29045   227,784    30    7    3.875%
Arrived Homes Series Grove, a series of Arrived Homes, LLC  Certain Lending  109 Annie Lane, Pleasant Grove, AL 35127   157,500    30    7    4.750%

 

F-322

 

 

December 31, 2023 
Series Name  Lender  Address  Mortgage Principal   Term   Interest Only Period   Interest Rate 
Arrived SC Hadden, LLC  Certain Lending  142 Hadden St, Duncan, SC 29334   143,500    30    7    3.875%
Arrived TN Hansel, LLC  Certain Lending  4457 Jack Faulk St, Murfreesboro, TN 37127   201,995    30    7    6.625%
Arrived TN Harrison, LLC  Certain Lending  5776 Caney Ridge Circle, Ooltewah, TN 37363   230,000    30    7    6.625%
Arrived Homes Series Heritage, a series of Arrived Homes, LLC  Certain Lending  432 The Gables Drive, McDonough, GA 30253   203,000    30    7    4.750%
Arrived SC Heron, LLC  Certain Lending  8334 Whitehaven Drive, North Charleston, SC 29420   200,900    30    7    4.750%
Arrived NC Holland LLC  Certain Lending  910 N Ransom St, Gastonia, NC 28052   147,000    30    5    4.625%
Arrived TN Hollandaise, LLC  Certain Lending  741 Hollandale Rd, La Vergne, TN 37086   255,500    30    7    3.875%
Arrived SC Holloway, LLC  Certain Lending  601 W Czardas Way, Woodruff, SC 29388   221,000    30    5    4.625%
Arrived TN Jack, LLC  Certain Lending  4434 Jack Faulk St, Murfreesboro, TN 37127   289,629    30    7    4.375%
Arrived TN Jill, LLC  Certain Lending  4481 Jack Faulk Street, Murfreesboro, TN 37127   201,320    30    7    6.625%
Arrived TN Johnny, LLC  Certain Lending  518 Yokley Drive, Nashville, TN 37207   -    1    1    11.50%
Arrived TN June, LLC  Certain Lending  520 Yokley Drive, Nashville, TN 37207   -    1    1    11.50%
Arrived NC Jupiter LLC  Certain Lending  930 Junius St, Gastonia, NC 28052   139,750    30    5    4.625%
Arrived AL Kawana, LLC  Certain Lending  28041 Kawana Ct, Harvest, AL 35749   192,500    30    7    3.875%
Arrived NC KerriAnn, LLC  Certain Lending  414 Kerriann Ln, Clayton, NC 27520   238,000    30    7    3.875%
Arrived AR Kessler, LLC  Certain Lending  12520 Meadow Oaks Lane, Farmington, AR 72730   128,500    30    7    6.625%
Arrived SC Kingsley, LLC  Certain Lending  505 Kingsley View Rd, Blythewood, SC 29016   215,000    30    5    4.625%
Arrived TN Kirkwood, LLC  Certain Lending  1064 Cindy Jo Court, Clarksville, TN 37040   182,000    30    7    4.750%
Arrived SC Lallie, LLC  Certain Lending  210 Ilderton St, Summerville, SC 29483   240,500    30    5    4.625%
Arrived Homes Series Lanier, a series of Arrived Homes, LLC  Certain Lending  6464 Flowery Way, Flowery Branch, GA 30542   263,900    30    7    4.750%
Arrived Homes Series Lannister, a series of Arrived Homes, LLC  Certain Lending  2263 Reece Blvd, Tuscaloosa, AL 35401   115,500    30    7    6.125%
Arrived SC Lennox, LLC  Certain Lending  1320 House St, Columbia, SC 29204   139,750    30    5    4.625%

 

F-323

 

 

December 31, 2023 
Series Name  Lender  Address  Mortgage Principal   Term   Interest Only Period   Interest Rate 
Arrived AR Lierly, LLC  Arvest Bank  4203 W Lierly Ln, Fayetteville, AR 72704   131,100    10    5    4.00%
Arrived CO Lily, LLC  Certain Lending  9799 Desert Lily Cir, Colorado Springs, CO 80925   311,500    30    7    3.875%
Arrived SC Limestone LLC  Certain Lending  863 Bergenfield Ln, Chapin, SC 29036   203,000    30    5    3.875%
Arrived TN Litton, LLC  Arrived Holdings  7304 Calla Crossing, Knoxville, TN 37918   160,000    30    5    5.95%
Arrived Homes Series Louise, a series of Arrived Homes, LLC  Certain Lending  2615 Lily Way, Northport, AL 35473   182,000    30    7    4.375%
Arrived GA Lovejoy, LLC  Certain Lending  2658 Lovejoy Crossing Dr, Hampton, GA 30228   205,100    30    7    3.875%
Arrived SC Luna, LLC  Certain Lending  417 Hosea Ct, Lexington, SC 29072   150,000    30    5    4.625%
Arrived Homes Series Lurleen, a series of Arrived Homes, LLC  Arrived Holdings  129 Whitestone Drive Northeast, Huntsville, AL 35810   110,000    30    5    6.990%
Arrived Homes Series Madison, a series of Arrived Homes, LLC  Certain Lending  902 NW Appleby Street, Huntsville, AL 35816   102,500    30    7    6.00%
Arrived GA Magnolia, LLC  Certain Lending  4741 Kings Highway, Douglasville, GA 30135   175,000    30    7    5.625%
Arrived AR Malbec, LLC  Certain Lending  755 N Malbec Rd, Fayetteville, AR 72704   208,585    30    5    4.625%
Arrived Homes Series Mammoth, a series of Arrived Homes, LLC  Certain Lending  200 Vernon Walk, McDonough, GA 30252   238,000    30    7    4.750%
Arrived SC Marietta, LLC  Certain Lending  436 Marietta Ln, Greer, SC 29651   152,113    30    7    6.625%
Arrived SC Matchingham, LLC  Certain Lending  1077 Matchingham Dr, Columbia, SC 29223   146,364    30    7    3.875%
Arrived CO McLovin, LLC  Certain Lending  10711 Truckee Cir, Commerce City, CO 80022   367,500    30    7    3.875%
Arrived NC Meadow, LLC  Certain Lending  9235 Avery Meadows Dr, Charlotte, NC 28216   214,900    30    7    3.875%
Arrived Homes Series Mimosa, a series of Arrived Homes, LLC  Arrived Holdings  6208 Mimosa Gardens Drive, Tuscaloosa, AL 35405   107,500    30    5    6.625%
Arrived AR Mojave LLC  Certain Lending  340 N Mojave St, Farmington, AR 72730   163,800    30    7    3.875%
Arrived SC Murphy, LLC  Certain Lending  211 Doolittle Dr, Chapin, SC 29036   207,270    30    7    3.875%
Arrived CO Odessa, LLC  Certain Lending  4669 S Odessa St, Aurora, CO 80015   374,500    30    7    3.875%

 

F-324

 

 

December 31, 2023 
Series Name  Lender  Address  Mortgage Principal   Term   Interest Only Period   Interest Rate 
Arrived SC Olive, LLC  Certain Lending  240 Tea Olive Ave, Lexington, SC 29073   126,100    30    5    4.625%
Arrived CO Oly, LLC  Certain Lending  8880 E 106th Pl, Commerce City, CO 80640   368,200    30    7    3.875%
Arrived GA Otoro, LLC  Certain Lending  2970 Parkland Vw, Atlanta, GA 30331   274,400    30    7    3.875%
Arrived AR Patrick, LLC  Arvest Bank  4309 W Patrick St, Fayetteville, AR 72704   108,300    10    5    4.00%
Arrived Homes Series Peanut, a series of Arrived Homes, LLC  Certain Lending  160 Roscommon Rd, Tuscaloosa, AL 35405   147,000    30    7    4.750%
Arrived AR Pecan, LLC  Arvest Bank  4481 W Pecan St, Fayetteville, AR 72704   112,860    10    5    4.00%
Arrived GA Piedmont, LLC  Certain Lending  4774 Brookwood Place, Atlanta, GA 30349   192,500    30    7    6.625%
Arrived AR Pinot, LLC  Certain Lending  763 N Malbec Rd, Fayetteville, AR 72704   210,740    30    5    4.625%
Arrived AR Plumtree, LLC  Arvest Bank  4455 W Chaparral Ln, Fayetteville, AR 72704   111,150    10    5    4.00%
Arrived TN Point, LLC  Certain Lending  1129 Hilliard Lane, Clarksville, TN 37042   267,750    30    7    4.750%
Arrived NM Redondo, LLC  Arrived Holdings  8924 Arkansas Road NW, Albuquerque, NM 87120   157,500    30    5    6.625%
Arrived OH Regency, LLC  Arrived Holdings  200 Regency Square, Maineville, OH 45039   137,500    30    5    6.990%
Arrived NC Ribbonwalk, LLC  Certain Lending  3512 Ribbonwalk Trl, Charlotte, NC 28269   224,000    30    7    3.875%
Arrived SC Ridge, LLC  Certain Lending  308 Oristo Ridge Way, West Columbia, SC 29170   140,400    30    5    4.625%
Arrived SC River, LLC  Certain Lending  232 Rivers Edge Cir, Simpsonville, SC 29680   172,250    30    5    4.625%
Arrived AZ Rooney, LLC  Certain Lending  5309 S 18th Pl, Phoenix, AZ 85040   259,000    30    7    3.875%
Arrived SC Roseberry, LLC  Certain Lending  5013 Paddy Field Way, Ladson, SC 29456   211,250    30    5    4.625%
Arrived Homes Series Rosewood, a series of Arrived Homes, LLC  Certain Lending  2633 Lily Way, Northport, AL 35473   189,000    30    7    4.750%
Arrived TN Roxy, LLC  Certain Lending  3736 Gray Fox Drive, Clarksville, TN 37040   220,500    30    7    4.750%
Arrived CO Saddlebred, LLC  Certain Lending  6213 Saddlebred Way, Colorado Springs, CO 80925   332,500    30    5    3.875%
Arrived AZ Saint, LLC  Certain Lending  7713 W Long Boat Way, Tucson, AZ 85757   211,992    30    7    3.875%
Arrived AR Salem, LLC  Certain Lending  659 N Salem Rd, Fayetteville, AR 72704   212,550    30    5    4.625%
Arrived NC Saturn, LLC  Certain Lending  923 Jupiter St, Gastonia, NC 28052   139,750    30    5    4.625%
Arrived AZ Scepter, LLC  Certain Lending  216 E Scepter Ln, Vail, AZ 85641   189,000    30    5    3.875%
Arrived AR Sequoyah, LLC  Arrived Holdings  981 E Starling St, Fayetteville, AR 72704   124,000    30    5    6.490%
Arrived TN Shallowford, LLC  Certain Lending  7258 Noah Reid Road, Chattanooga, TN 37421   181,000    30    7    6.625%

 

F-325

 

 

December 31, 2023 
Series Name  Lender  Address  Mortgage Principal   Term   Interest Only Period   Interest Rate 
Arrived SC Shoreline, LLC  Certain Lending  606 Shoreline Blvd, Boiling Springs, SC 29316   211,900    30    5    4.625%
Arrived NC Sigma, LLC  Certain Lending  116 Canvasback Dr, Durham, NC 27704   269,500    30    7    3.875%
Arrived AR Soapstone, LLC  Arvest Bank  4672 W Soapstone Dr, Fayetteville, AR 72704   128,250    10    5    4.00%
Arrived SC Spencer, LLC  Certain Lending  9621 Spencer Woods Rd, Ladson, SC 29457   195,000    30    5    4.625%
Arrived AR Splash, LLC  Arvest Bank  994 S Splash Dr, Fayetteville, AR 72701   122,500    10    5    4.00%
Arrived Homes Series Stonebriar, a series of Arrived Homes, LLC  Certain Lending  4342 Winchester Hills Drive, Birmingham, AL 35215   134,400    30    7    4.750%
Arrived SC Sugar, LLC  Certain Lending  300 Southern Sugar Ave, Moncks Corner, SC 29461   201,500    30    5    4.625%
Arrived SC Summerset, LLC  Certain Lending  2016 Culloden Dr, Summerville, SC 29483   165,750    30    5    4.625%
Arrived NM Sundance, LLC  Arrived Holdings  620 Creekside Avenue SW, Los Lunas, NM 87031   157,500    30    5    6.625%
Arrived Homes Series Taylor, a series of Arrived Homes, LLC  Certain Lending  2209 44th Avenue, Northport, AL 35476   115,000    30    7    6.625%
Arrived AZ Terracotta, LLC  Certain Lending  10954 E Oak Grove Pl, Tucson, AZ 85747   222,600    30    7    3.875%
Arrived Homes Series Tulip, a series of Arrived Homes, LLC  Certain Lending  7339 Tulip Trestle Ct, Northport, AL 35473   221,900    30    7    4.750%
Arrived AR Tuscan, LLC  Arvest Bank  3474 W Tuscan Rd, Fayetteville, AR 72704   181,480    10    5    4.00%
Arrived SC Tuxford, LLC  Certain Lending  958 Tuxford Trl, Elgin, SC 29045   178,500    30    7    3.875%
Arrived SC Vernon, LLC  Certain Lending  135 McMakin Dr, Lyman, SC 29365   181,837    30    7    3.875%
Arrived AR Walton, LLC  Certain Lending  3211 SW Stonepoint Avenue, Bentonville, AR 72712   -    1    1    11.50%
Arrived GA Wave, LLC  Certain Lending  7491 Waverly Loop, Fairburn, GA 30213   224,000    30    7    3.875%
Arrived NC Weldon LLC  Certain Lending  914 N Ransom St, Gastonia, NC 28052   136,500    30    5    3.875%
Arrived AR Wentworth, LLC  Certain Lending  352 N Mojave St, Farmington, AR 72730   158,340    30    7    3.875%
Arrived TN Wescott, LLC  Certain Lending  416 Sandburg Drive, Clarksville, TN 37042   136,250    30    7    6.125%
Arrived SC Westchester, LLC  Certain Lending  488 Forest Creek Way, Elgin, SC 29045   198,900    30    5    4.625%
Arrived TN Wildwood, LLC  Certain Lending  1672 Southern Heights Circle SE, Cleveland, TN 37311   110,000    30    7    5.50%
Arrived SC Windsor, LLC  Certain Lending  3910 Greico Rd, North Charleston, SC 29420   227,500    30    5    4.625%
Arrived Homes Series Wisteria, a series of Arrived Homes, LLC  Certain Lending  9300 Cotton Fields Cr, Tuscaloosa, AL 35405   207,477    30    7    4.750%
                           
         $24,211,338                

 

F-326

 

 

The mortgages are secured by each Series’ property. As of December 31, 2024 and 2023, the entire principal of the mortgage loans remained outstanding, with maturities dates in excess of one year and thus reflected as non-current liabilities on the consolidated and consolidating balance sheets.

 

Loan fees incurred in connection with the mortgages were capitalized as a debt discount and are being amortized to interest expenses over the life of the loan. During the years ended December 31, 2024 and 2023, the Company recorded amortization of loan fees of $25,245 and $22,081, respectively. As of December 31, 2024, mortgage payable, net of unamortized loan fees of $299,749 was $23,721,589. As of December 31, 2023, mortgage payable, net of unamortized loan fees of $321,201 was $23,890,137.

 

Arrived Series Centennial, a series of Arrived Homes, LLC, was sold on October 18, 2024. In connection with the sale, the Series repaid its outstanding mortgage principal balance of $190,000 and incurred an additional prepayment penalty of $3,800.

 

NOTE 6: OPERATIONAL NOTES, RELATED PARTY

 

As of December 31, 2024, several Series obtained operational notes from a related party, Arrived Short Term Notes, LLC, in an aggregate amount of $2,045,300. These notes have a term of 18 months and bear interest at a rate of 7.5% per annum. The operational notes do not have any prepayment penalties. The proceeds were used for property improvements and other operating needs.

 

NOTE 7: MEMBERS’ EQUITY (DEFICIT)

 

Each Series is managed by Arrived Holdings, Inc., a Delaware corporation and managing member of the Company. Pursuant to the terms of the operating agreement, the Manager will provide certain management and advisory services, as well as management team and appropriate support personnel to the Series.

 

The Manager will be responsible for directing the management of Series’ business and affairs, managing the day-to-day affairs, and implementing the Series’ investment strategy. The Manager has a unilateral ability to amend the operating agreement and the allocation policy in certain circumstances without the consent of the investors. The investors only have limited voting rights with respect to the Series.

 

The Manager has sole discretion in determining what distributions, if any, are made to interest holders except as otherwise limited by law or the operating agreement. The Series expects the Manager to make distributions on a quarterly basis. However, the Manager may change the timing of distributions or determine that no distributions shall be made, in its sole discretion.

 

F-327

 

 

Membership Interests

 

During the years ended December 31, 2024, and 2023, 4 and 237 Series, respectively, closed on its public offerings for net proceeds of $1,079,218 and $56,564,099, respectively. The following is a summary of the public offerings by each Series.

 

December 31, 2024
Series Name  # of Units
Issued		    Net proceeds
from the
issuance of
membership
units		   Issuance
expense
(1%)		   Offering
expense
(2%)		   Distribution
from
proceeds of
property
sales		   Shares
redeemed		   Redemptions 
100   -    $-   $-   $-   $-    (130)  $(1,300)
101   -     -    -    -    -    (360)   (3,600)
Abbington   -     -    -    -    -    -    - 
Abernant   -27,213     252,032    2,721    5,457    -    -    - 
Alvin   -37,366     345,786    3,737    7,477    -    -    - 
Amber   -     -    -    -    -    -    - 
Apollo   -     -    -    -    -    (30)   (300)
Aster   -     -    -    -    -    (10)   (100)
Augusta   -     -    -    -    -    -    - 
Avebury   -     -    -    -    -    (50)   (500)
Avondale   -     -    -    -    -    -    - 
Badminton   -     -    -    -    -    -    - 
Ballinger   -     -    -    -    -    -    - 
Bandelier   -     -    -    -    -    -    - 
Baron   -     -    -    -    -    (54)   (540)
Basil   -     -    -    -    -    -    - 
Bayside   -     -    -    -    -    (10)   (100)
Bazzel   -     -    -    -    -    (50)   (500)
Bedford   -     -    -    -    -    -    - 
Bella   -     -    -    -    -    -    - 
Belle   -     -    -    -    -    -    - 
Belvedere   -     -    -    -    -    -    - 
Bergenia   -     -    -    -    -    -    - 
Blossom   -     -    -    -    -    -    - 
Bonneau   -     -    -    -    -    (210)   (2,100)
Brainerd   -     -    -    -    -    -    - 
Braxton   -     -    -    -    -    -    - 
Brennan   -     -    -    -    -    -    - 
Briarwood   -     -    -    -    -    -    - 
Brooklyn   -     -    -    -    -    -    - 
Burlington   -     -    -    -    -    (100)   (1,000)
Butter   -     -    -    -    -    (10)   (100)
Calvin   -     -    -    -    -    -    - 
Camino   -     -    -    -    -    (220)   (2,200)
Cawley   -     -    -    -    -    -    - 
Centennial   -     -    -    -    (118,300)   -    - 
Chaparral   -     -    -    -    -    -    - 
Chelsea   -     -    -    -    -    (50)   (500)

 

F-328

 

 

December 31, 2024
Series Name  # of Units
Issued		     Net proceeds
from the
issuance of
membership
units		   Issuance
expense
(1%)		   Offering
expense
(2%)		   Distribution
from
proceeds of
property
sales		   Shares
redeemed		   Redemptions 
Chester   -     -    -    -    -    (40)   (400)
Chickamauga   -     -    -    -    -    -    - 
Chinook   -     -    -    -    -    -    - 
Chitwood   -     -    -    -    -    (50)   (500)
Clover   -     -    -    -    -    (20)   (200)
Coatbridge   -     -    -    -    -    -    - 
Collier   -     -    -    -    -    (30)   (300)
Collinston   -     -    -    -    -    -    - 
Conway   -     -    -    -    -    (60)   (600)
Cove   -     -    -    -    -    -    - 
Creekside   -     -    -    -    -    (150)   (1,500)
Creekwood   -     -    -    -    -    -    - 
Cumberland   -     -    -    -    -    (210)   (2,100)
Cupcake   -     -    -    -    -    -    - 
Cypress   -     -    -    -    -    -    - 
Daisy   -     -    -    -    -    (260)   (2,600)
Davidson   -     -    -    -    -    -    - 
Dawson   -     -    -    -    -    -    - 
Delta   -     -    -    -    -    -    - 
Dewberry   -     -    -    -    -    -    - 
Diablo   -     -    -    -    -    -    - 
Dogwood   -     -    -    -    -    -    - 
Dolittle   -     -    -    -    -    -    - 
Dolly   -     -    -    -    -    (35)   (350)
Dops   -     -    -    -    -    -    - 
Dorchester   -     -    -    -    -    (50)   (500)
Dunbar   -     -    -    -    -    (20)   (200)
Eagle   -     -    -    -    -    (100)   (1,000)
Eastfair   -     -    -    -    -    (10)   (100)
Eastwood   -     -    -    -    -    -    - 
Elevation   -     -    -    -    -    (10)   (100)
Ella   -     -    -    -    -    (10)   (100)
Ellen   -     -    -    -    -    -    - 
Elm   -     -    -    -    -    -    - 
Emporia   -     -    -    -    -    -    - 
Ensenada   -     -    -    -    -    -    - 
Falcon   -     -    -    -    -    (60)   (600)
Felix   -     -    -    -    -    -    - 

  

F-329

 

 

December 31, 2024
Series Name  # of Units
Issued		   Net proceeds
from the
issuance of
membership
units		   Issuance
expense
(1%)		   Offering
expense
(2%)		   Distribution
from
proceeds of
property
sales		   Shares
redeemed		   Redemptions 
Fenwick   -    -    -    -    -    -    - 
Fletcher   -    -    -    -    -    -    - 
Folly   -    -    -    -    -    (40)   (400)
Forest   -    -    -    -    -    -    - 
Foster   -    -    -    -    -    -    - 
Franklin   -    -    -    -    -    -    - 
Gardens   -    -    -    -    -    -    - 
General   -    -    -    -    -    -    - 
Goose   -    -    -    -    -    (25)   (250)
Grant   -    -    -    -    -    -    - 
Greenhill   -    -    -    -    -    -    - 
Gretal   -    -    -    -    -    -    - 
Grove   -    (76)   -    -    -    -    - 
Hadden   -    -    -    -    -    (50)   (500)
Hansard   -    -    -    -    -    (10)   (100)
Hansel   -    -    -    -    -    -    - 
Hargrave   -28,019    259,629    2,765    5,609    -    -    - 
Harrison   -    -    -    -    -    (195)   (1,950)
Henry   -    -    -    -    -    (140)   (1,400)
Heritage   -    -    -    -    -    -    - 
Heron   -    -    -    -    -    -    - 
Highland   -    -    -    -    -    (50)   (500)
Hines   -    -    -    -    -    (50)   (500)
Hobbes   -    -    -    -    -    -    - 
Holcomb   -    -    -    -    -    -    - 
Holland   -    -    -    -    -    -    - 
Hollandaise   -    -    -    -    -    (40)   (400)
Holloway   -    -    -    -    -    -    - 
Inglewood   -    -    -    -    -    (105)   (1,050)
Irene   -    -    -    -    -    -    - 
Jack   -    -    -    -    -    -    - 
Jake   -    -    -    -    -    (100)   (1,000)
Jefferson   -    -    -    -    -    -    - 
Jill   -    -    -    -    -    -    - 
Johnny   -    -    -    -    -    (200)   (2,000)
June   -    -    -    -    -    (50)   (500)
Jupiter   -    -    -    -    -    -    - 
Kawana   -    -    -    -    -    -    - 

 

F-330

 

 

December 31, 2024
Series Name  # of Units
Issued		   Net proceeds
from the
issuance of
membership
units		   Issuance
expense
(1%)		   Offering
expense
(2%)		   Distribution
from
proceeds of
property
sales		   Shares
redeemed		   Redemptions 
Kennesaw   -    -    -    -    -    (110)   (1,100)
Kenny   -    -    -    -    -    (285)   (2,850)
KerriAnn   -    -    -    -    -    (250)   (2,500)
Kessler   -    -    -    -    -    (10)   (100)
Kingsley   -    -    -    -    -    -    - 
Kirkwood   -    -    -    -    -    -    - 
Korin   -    -    -    -    -    -    - 
Lallie   -    -    -    -    -    -    - 
Lanier   -    -    -    -    -    -    - 
Lannister   -    -    -    -    -    -    - 
Latte   -    -    -    -    -    -    - 
Lennox   -    -    -    -    -    -    - 
Lierly   -    -    -    -    -    -    - 
Lily   -    -    -    -    -    -    - 
Limestone   -    -    -    -    -    -    - 
Litton   -    -    -    -    -    (10)   (100)
Longwoods   -    -    -    -    -    -    - 
Lookout   -    -    -    -    -    (20)   (200)
Loretta   -    -    -    -    -    (870)   (8,700)
Louis   -    -    -    -    -    -    - 
Louise   -    -    -    -    -    -    - 
Lovejoy   -    -    -    -    -    (50)   (500)
Luna   -    -    -    -    -    -    - 
Lurleen   -    -    -    -    -    -    - 
Madison   -    -    -    -    -    -    - 
Mae   -    -    -    -    -    (40)   (400)
Magnolia   -    -    -    -    -    (100)   (1,000)
Malbec   -    -    -    -    -    (10)   (100)
Mammoth   -    -    -    -    -    -    - 
Marcelo   -    -    -    -    -    -    - 
Marie   -    -    -    -    -    -    - 
Marietta   -    -    -    -    -    -    - 
Marion   -    -    -    -    -    -    - 
Marple   -    -    -    -    -    -    - 

 

F-331

 

 

December 31, 2024
Series Name  # of Units
Issued		   Net proceeds
from the
issuance of
membership
units		   Issuance
expense
(1%)		   Offering
expense
(2%)		   Distribution
from
proceeds of
property
sales		   Shares
redeemed		   Redemptions 
Martell      -        -        -        -         -    (30)   (300)
Mary   -    -    -    -    -    -    - 
Matchingham   -    -    -    -    -    -    - 
McGregor   -    -    -    -    -    -    - 
McLovin   -    -    -    -    -    -    - 
Meadow   -    -    -    -    -    -    - 
Mimosa   -    -    -    -    -    -    - 
Mojave   -    -    -    -    -    -    - 
Murphy   -    -    -    -    -    -    - 
Mycroft   -    -    -    -    -    (20)   (200)
Nugget   -    -    -    -    -    (250)   (2,500)
Odessa   -    -    -    -    -    (10)   (100)
Olive   -    -    -    -    -    -    - 
Oly   -    -    -    -    -    -    - 
Onyx   -    -    -    -    -    -    - 
Oscar   -    -    -    -    -    -    - 
Osceola   -    -    -    -    -    -    - 
Osprey   -    -    -    -    -    (10)   (100)
Otoro   -    -    -    -    -    (68)   (680)
Palmer   -    -    -    -    -    -    - 
Patrick   -    -    -    -    -    -    - 
Peanut   -    -    -    -    -    (30)   (300)
Pearl   -    -    -    -    -    (100)   (1,000)
Pecan   -    -    -    -    -    -    - 
Peterson   -    -    -    -    -    -    - 
Piedmont   -    -    -    -    -    -    - 
Pinot   -    -    -    -    -    -    - 
Pioneer   -    -    -    -    -    (10)   (100)
Plumtree   -    -    -    -    -    -    - 
Point   -    -    -    -    -    -    - 
Porthos   -    -    -    -    -    -    - 
Quincy   -    -    -    -    -    (375)   (3,750)
Redondo   -    -    -    -    -    -    - 
Regency   -    -    -    -    -    -    - 
Reginald   -    -    -    -    -    (245)   (2,450)
Reynolds   -    -    -    -    -    (50)   (500)
Ribbonwalk   -    -    -    -    -    -    - 
Richardson   -    -    -    -    -    (120)   (1,200)

 

F-332

 

 

December 31, 2024
Series Name  # of Units
Issued		   Net proceeds
from the
issuance of
membership
units		   Issuance
expense
(1%)		   Offering
expense
(2%)		   Distribution
from
proceeds of
property
sales		   Shares
redeemed		   Redemptions 
Richmond   44,809    414,717    4,481    8,962    -    -    - 
Ridge   -    -    -    -    -    -    - 
Ritter   -    -    -    -    -    (100)   (1,000)
River   -    -    -    -    -    (10)   (100)
Riverwalk   -    -    -    -    -    (20)   (200)
Rooney   -    -    -    -    -    -    - 
Roseberry   -    -    -    -    -    -    - 
Rosewood   -    -    -    -    -    -    - 
Roxy   -    -    -    -    -    -    - 
Saddlebred   -    -    -    -    -    (10)   (100)
Saint   -    -    -    -    -    -    - 
Sajni   -    -    -    -    -    -    - 
Salem   -    -    -    -    -    (20)   (200)
Salinas   -    -    -    -    -    -    - 
Saturn   -    -    -    -    -    -    - 
Scepter   -    -    -    -    -    (10)   (100)
Sequoyah   -    -    -    -    -    -    - 
Shallowford   -    -    -    -    -    -    - 
Shoreline   -    -    -    -    -    -    - 
Sigma   -    -    -    -    -    -    - 
Simon   -    -    -    -    -    -    - 
Sims   -    -    -    -    -    -    - 
Soapstone   -    -    -    -    -    -    - 
Sodalis   -    -    -    -    -    (210)   (2,100)
Spencer   -    -    -    -    -    (20)   (200)
Splash   -    -    -    -    -    -    - 
Spring   -    -    -    -    -    -    - 
Stonebriar   -    -    -    -    -    -    - 
Sugar   -    -    -    -    -    -    - 
Summerset   -    -    -    -    -    -    - 
Sundance   -    -    -    -    -    -    - 
Sunnyside   -    -    -    -    -    -    - 
Swift   -    -    -    -    -    -    - 
Taylor   -    -    -    -    -    -    - 
Terracotta   -    -    -    -    -    -    - 
Theodore   -    -    -    -    -    -    - 
Tulip   -    -    -    -    -    (30)   (300)
Tuscan   -    -    -    -    -    -    - 
Tuscarora   -    -    -    -    -    -    - 
Tuxford   -    -    -    -    -    -    - 
Vernon   -    -    -    -    -    -    - 
Walton   -    -    -    -    -    (150)   (1,500)
Wave   -    -    -    -    -    -    - 
Weldon   -    -    -    -    -    -    - 
Wellington   -    -    -    -    -    (70)   (700)
Wentworth   -    -    -    -    -    -    - 
Wescott   -    -    -    -    -    -    - 
Westchester   -    -    -    -    -    -    - 
Wildwood   -    -    -    -    -    -    - 
Willow   -    -    -    -    -    (160)   (1,600)
Wilson   -    -    -    -    -    (10)   (100)
Winchester   -    -    -    -    -    -    - 
Windsor   -    -    -    -    -    -    - 
Winston   -    -    -    -    -    (110)   (1,100)
Wisteria   -    -    -    -    -    -    - 
                        -           
    147,610   $1,272,088   $13,704   $27,505   $(118,300)   (7,457)  $(74,570)

  

F-333

 

 

December 31, 2023 
Series Name  # of Units Issued   Net cumulative proceeds from the issuance of membership units   Issuance expense (1%)   Offering expense (2%) 
100   69,230   $639,149   $7,055   $14,116 
101   71,956    664,766    7,198    14,596 
Abbington   54,865    507,153    5,537    11,081 
Abernant   -    -    -    - 
Alvin   -    -    -    - 
Amber   14,303    121,685    1,455    2,930 
Apollo   9,027    76,671    912    2,147 
Aster   17,269    153,293    1,715    3,885 
Augusta   35,196    325,223    3,520    7,057 
Avebury   12,513    105,573    1,262    3,005 
Avondale   38,902    359,466    3,890    7,784 
Badminton   10,764    89,674    1,102    2,205 
Ballinger   35,230    326,071    3,523    7,046 
Bandelier   14,751    125,763    1,477    2,950 
Baron   65,066    601,778    6,530    13,062 
Basil   9,454    79,458    956    1,913 
Bayside   12,305    104,740    1,231    2,460 
Bazzel   29,056    268,312    2,913    5,825 
Bedford   12,217    102,855    1,232    2,463 
Bella   36,274    335,062    3,627    7,271 
Belle   49,925    461,088    4,990    10,082 
Belvedere   34,971    322,875    3,497    6,998 
Bergenia   25,889    239,423    2,589    5,178 
Blossom   30,473    281,987    3,037    6,135 
Bonneau   39,116    361,335    3,875    7,841 
Brainerd   19,318    171,485    1,913    4,163 
Braxton   37,890    350,696    3,763    7,603 
Brennan   10,598    90,622    1,062    2,136 
Briarwood   25,368    235,059    2,537    5,074 
Brooklyn   11,740    104,727    1,162    2,519 
Burlington   72,312    666,971    7,438    14,881 
Butter   15,827    135,059    1,611    3,220 
Calvin   28,318    262,352    2,832    5,666 
Camino   31,028    287,061    3,072    6,206 
Campbell   -    -    -    - 
Cawley   37,091    342,749    3,709    7,422 
Centennial   11,830    107,245    1,183    2,366 
Chaparral   10,479    101,646    1,048    2,096 
Chelsea   13,747    116,417    1,376    3,267 
Chester   24,833    220,731    2,459    5,596 
Chickamauga   43,058    397,981    4,309    8,620 
Chinook   36,094    333,328    3,609    7,223 
Chitwood   44,125    407,796    4,377    8,843 
Clover   37,872    350,074    3,778    7,639 
Coatbridge   13,090    111,630    1,310    2,620 
Collier   39,795    366,895    4,066    8,218 
Collinston   10,217    86,539    1,031    2,060 
Conway   77,713    718,075    7,745    15,662 
Cove   24,633    227,408    2,463    4,939 
Creekside   35,809    330,842    3,583    7,239 
Creekwood   19,411    172,529    1,922    4,360 
Cumberland   34,427    318,531    3,418    6,906 
Cupcake   10,755    91,225    1,092    2,183 
Cypress   24,604    218,531    2,437    5,527 

 

F-334

 

 

December 31, 2023 
Series Name  # of Units Issued   Net cumulative proceeds from the issuance of membership units   Issuance expense (1%)   Offering expense (2%) 
Daisy   34,940    323,160    3,484    7,041 
Davidson   9,244    77,126    924    1,850 
Dawson   10,964    93,103    1,097    2,200 
Delta   14,508    122,469    1,451    2,910 
Dewberry   9,163    77,226    924    1,849 
Diablo   12,890    108,110    1,290    2,890 
Dogwood   27,779    256,729    2,771    5,612 
Dolittle   13,369    112,713    1,337    2,680 
Dolly   78,705    727,093    7,863    15,885 
Dops   24,064    221,871    2,406    4,813 
Dorchester   40,073    370,042    3,982    8,045 
Dunbar   36,714    339,081    3,719    7,467 
Eagle   18,540    165,218    1,836    3,708 
Eastfair   8,473    73,804    860    1,721 
Eastwood   37,474    346,808    3,747    7,495 
Elevation   12,571    106,933    1,257    2,520 
Ella   30,650    283,279    3,067    6,134 
Ellen   29,718    274,662    2,972    5,956 
Elm   8,210    69,199    821    1,640 
Emporia   15,248    128,605    1,526    3,629 
Ensenada   23,114    198,133    2,317    4,640 
Falcon   18,440    163,783    1,830    4,148 
Felix   29,597    273,851    2,960    5,929 
Fenwick   35,502    328,106    3,550    7,104 
Fletcher   21,548    199,773    2,155    4,312 
Folly   36,241    334,672    3,593    7,259 
Forest   16,230    140,988    1,632    3,260 
Foster   37,329    344,939    3,733    7,468 
Franklin   35,492    327,859    3,549    7,102 
Gardens   11,490    99,641    1,162    2,327 
General   37,454    346,088    3,745    7,497 
Goose   17,270    153,754    1,717    3,471 
Grant   16,185    138,704    1,631    3,285 
Greenhill   13,651    114,705    1,405    2,810 
Gretal   52,308    483,863    5,180    10,465 
Grove   10,210    86,767    1,051    2,102 

 

F-335

 

 

December 31, 2023 
Series Name  # of Units Issued   Net cumulative proceeds from the issuance of membership units   Issuance expense (1%)   Offering expense (2%) 
Hadden   10,963    94,215    1,106    2,219 
Hansard   35,242    325,232    3,526    7,052 
Hansel   26,707    238,147    2,644    5,342 
Hargrave   -    -    -    - 
Harrison   30,223    267,725    3,028    6,876 
Henry   47,145    435,488    4,710    9,515 
Heritage   12,495    105,184    1,275    3,022 
Heron   12,697    107,181    1,322    3,097 
Highland   32,231    297,533    3,208    6,486 
Hines   29,495    272,584    2,953    5,943 
Hobbes   28,043    259,827    2,804    5,609 
Holcomb   40,872    377,785    4,095    8,190 
Holland   10,106    85,418    1,032    2,070 
Hollandaise   16,441    140,374    1,644    3,292 
Holloway   14,754    132,687    1,478    2,957 
Inglewood   77,869    720,052    7,732    15,628 
Irene   21,540    199,694    2,154    4,312 
Jack   18,349    155,481    1,835    4,354 
Jake   66,731    616,282    6,638    13,650 
Jefferson   31,930    294,664    3,195    6,391 
Jill   26,809    238,522    2,654    6,027 
Johnny   66,337    612,843    6,074    13,963 
June   66,389    613,363    6,660    13,377 
Jupiter   10,503    89,088    1,052    2,110 
Kawana   12,693    107,816    1,270    2,994 
Kennesaw   48,575    448,815    4,842    9,804 
Kenny   78,695    726,995    7,861    15,885 
KerriAnn   14,605    124,720    1,461    2,930 
Kessler   17,066    151,481    1,717    3,894 
Kingsley   12,620    112,642    1,269    2,537 
Kirkwood   11,347    95,854    1,165    2,761 
Korin   32,414    298,485    3,244    6,491 
Lallie   15,854    133,432    1,697    3,395 
Lanier   16,497    140,138    1,681    3,361 
Lannister   9,463    82,045    958    2,067 
Latte   41,119    379,491    4,167    8,352 
Lennox   10,593    89,971    1,059    2,120 
Lierly   9,456    91,723    946    1,891 

 

F-336

 

 

December 31, 2023 
Series Name  # of Units Issued   Net cumulative proceeds from the issuance of membership units   Issuance expense (1%)   Offering expense (2%) 
Lily   24,046    208,894    2,436    4,880 
Limestone   13,708    118,837    1,383    2,770 
Litton   21,406    190,072    2,120    4,616 
Longwoods   32,138    296,948    3,214    6,428 
Lookout   38,597    356,135    3,975    7,984 
Loretta   76,933    710,267    7,753    15,662 
Louis   32,418    299,924    3,242    6,484 
Louise   13,233    113,471    1,322    2,748 
Lovejoy   12,826    108,167    1,283    3,050 
Luna   8,976    74,244    907    1,814 
Lurleen   15,366    136,159    1,537    3,304 
Madison   13,610    120,379    1,467    2,934 
Mae   40,305    371,812    4,091    8,266 
Magnolia   11,217    94,884    1,148    2,708 
Malbec   13,786    125,653    1,379    2,757 
Mammoth   14,636    124,064    1,489    2,977 
Marcelo   33,767    312,549    3,345    6,762 
Marie   37,020    341,482    3,705    7,412 
Marietta   20,147    178,169    2,024    4,596 
Marion   30,428    281,169    3,043    6,088 
Marple   21,282    196,682    2,128    4,260 
Martell   30,986    286,198    3,099    6,203 
Mary   31,752    293,203    3,175    6,352 
Matchingham   9,423    78,848    952    1,900 
McGregor   34,478    318,229    3,537    7,075 
McLovin   21,949    188,251    2,199    4,400 
Meadow   15,355    133,521    1,589    3,180 
Mimosa   14,989    129,928    1,484    6,863 
Mojave   10,379    86,541    1,160    2,320 
Murphy   13,048    109,984    1,306    2,610 
Mycroft   21,722    200,772    2,172    4,346 
Nugget   62,671    578,493    6,385    12,782 
Odessa   21,878    187,176    2,194    4,410 
Olive   13,652    118,919    1,371    2,750 
Oly   21,841    187,196    2,184    4,380 
Onyx   38,431    355,119    3,843    7,698 

 

F-337

 

 

December 31, 2023 
Series Name  # of Units Issued   Net cumulative proceeds from the issuance of membership units   Issuance expense (1%)   Offering expense (2%) 
Oscar   29,860    276,320    2,986    5,974 
Osceola   33,502    309,740    3,350    6,700 
Osprey   40,299    372,152    4,028    8,110 
Otoro   17,046    143,339    1,717    4,084 
Palmer   34,720    320,984    3,472    6,944 
Patrick   11,309    109,673    1,139    2,278 
Peanut   9,814    83,482    992    2,266 
Pearl   61,327    566,158    6,248    12,514 
Pecan   10,691    103,703    1,069    2,138 
Peterson   27,120    251,214    2,712    5,424 
Piedmont   25,764    229,041    2,552    5,791 
Pinot   13,888    126,577    1,392    2,785 
Pioneer   65,143    601,834    6,550    13,116 
Plumtree   10,881    105,543    1,089    2,178 
Point   16,596    140,718    1,701    3,401 
Porthos   35,738    330,000    3,574    7,156 
Quincy   61,447    567,070    6,254    12,601 
Redondo   21,137    187,490    2,096    4,753 
Regency   18,598    164,047    1,870    4,023 
Reginald   50,161    463,481    4,981    10,077 
Reynolds   49,155    454,269    4,908    9,874 
Ribbonwalk   13,884    116,972    1,388    2,780 
Richardson   36,827    340,776    3,661    7,376 
Richmond   -    -    -    - 
Ridge   10,400    88,030    1,050    2,110 
Ritter   58,038    536,406    5,808    11,616 
River   12,705    108,134    1,277    2,550 
Riverwalk   44,654    412,049    4,511    9,144 
Rooney   15,617    133,316    1,564    3,130 
Roseberry   14,622    127,158    1,464    2,928 
Rosewood   12,073    101,990    1,232    2,908 
Roxy   14,323    121,771    1,436    2,873 
Saddlebred   19,783    169,337    1,983    3,970 
Saint   14,781    126,543    1,479    2,958 

 

F-338

 

 

December 31, 2023 
Series Name  # of Units Issued   Net cumulative proceeds from the issuance of membership units   Issuance expense (1%)   Offering expense (2%) 
Sajni   35,013    323,100    3,503    7,007 
Salem   13,311    121,025    1,338    2,676 
Salinas   27,178    251,086    2,718    5,436 
Saturn   10,344    87,500    1,050    2,110 
Scepter   11,622    97,334    1,176    2,360 
Sequoyah   16,824    149,466    1,666    3,621 
Shallowford   24,328    216,125    2,412    5,479 
Shoreline   12,220    108,532    1,249    2,498 
Sigma   16,171    138,010    1,640    3,280 
Simon   34,119    315,180    3,412    6,838 
Sims   32,453    299,872    3,245    6,493 
Soapstone   10,002    97,019    1,000    2,000 
Sodalis   33,570    310,142    3,334    6,740 
Spencer   13,827    117,352    1,388    2,775 
Splash   11,181    102,138    1,119    2,238 
Spring   28,649    264,550    2,852    5,769 
Stonebriar   9,465    80,622    997    2,182 
Sugar   14,686    127,579    1,471    2,940 
Summerset   11,666    98,435    1,189    2,377 
Sundance   21,127    187,392    2,094    4,753 
Sunnyside   26,354    243,594    2,635    5,271 
Swift   39,493    364,541    3,956    7,913 
Taylor   15,927    141,854    1,583    3,577 
Terracotta   13,962    118,438    1,396    2,796 
Theodore   33,922    313,394    3,392    6,784 
Tulip   14,015    118,471    1,402    3,328 
Tuscan   16,452    151,483    1,655    3,310 
Tuscarora   38,910    359,177    3,901    7,802 
Tuxford   12,054    102,364    1,206    2,750 
Vernon   11,609    97,709    1,161    2,330 
Walton   34,440    318,110    3,436    6,940 
Wave   13,953    117,342    1,431    2,867 

 

F-339

 

 

December 31, 2023 
Series Name  # of Units Issued   Net cumulative proceeds from the issuance of membership units   Issuance expense (1%)   Offering expense (2%) 
Weldon   10,207    86,439    1,031    2,060 
Wellington   47,136    435,933    4,672    9,438 
Wentworth   11,033    93,548    1,124    2,251 
Wescott   17,758    157,215    1,792    4,033 
Westchester   18,103    159,539    1,821    3,640 
Wildwood   14,669    130,348    1,504    3,008 
Willow   33,624    310,721    3,376    6,819 
Wilson   44,301    409,415    4,449    8,991 
Winchester   31,542    292,056    3,154    6,310 
Windsor   15,491    134,610    1,572    3,144 
Winston   38,117    352,688    3,794    7,635 
Wisteria   12,766    107,563    1,306    2,611 
    6,234,857   $56,564,105   $624,901   $1,278,950 

 

 

 

In connection with the public offering, each Series incurred brokerage fees of 1% of gross proceeds, which is paid directly to the broker as a deduction from gross proceeds. For the years ended December 31, 2024, and 2023, in accordance with the operating agreement, the Manager receives reimbursements for out-of-pocket expenses such as: offering expenses up to 2% of gross proceeds from membership interest issuance which amounted to $27,505 and $ 1,278,950; sourcing fees up to 6% of gross proceeds from membership interest issuance which amounted to $40,480 and $3,493,496; financing and holding expenses up to 2.5% of gross proceeds from membership interest issuance which amounted to $20,220 and $387,120.

 

F-340

 

 

Distributions

 

During the years ended December 31, 2024, and 2023, 241 and 228 Series, respectively, made distributions to the investors of the respective Series totaling $2,126,831 and $1,875,741, respectively, which were recorded as a reduction to members’ capital.

 

The following table reflects the 2024 and 2023 distributions by Series.

 

Series  2024 Disbursements   2023 Disbursements 
100  $7,823   $27,747 
101   16,055    15,171 
Abbington   17,337    15,374 
Abernant   13,465    - 
Alvin   20,695    - 
Amber   3,948    3,862 
Apollo   1,533    2,889 
Aster   2,832    3,459 
Augusta   16,010    3,520 
Avebury   2,422    4,755 
Avondale   11,934    7,780 
Badminton   4,058    4,844 
Ballinger   17,500    - 
Bandelier   2,654    4,425 
Baron   13,136    18,218 
Basil   4,963    5,011 
Bayside   5,301    7,383 
Bazzel   7,168    5,813 
Bedford   2,492    7,330 
Bella   14,292    3,990 
Belle   11,633    12,520 
Belvedere   18,360    8,043 
Bergenia   14,394    2,848 
Blossom   9,658    13,421 
Bonneau   11,151    11,740 
Brainerd   11,109    7,921 
Braxton   16,257    19,353 
Brennan   2,213    1,485 
Briarwood   15,063    - 
Brooklyn   4,286    4,579 
Burlington   7,733    20,275 
Butter   4,999    7,471 

 

F-341

 

 

Series  2024 Disbursements   2023 Disbursements 
Calvin   16,447    - 
Camino   10,265    14,274 
Campbell   -    - 
Cawley   18,689    7,789 
Centennial   26,659    5,442 
Chaparral   7,210    8,383 
Chelsea   6,922    6,599 
Chester   5,657    5,712 
Chickamauga   19,979    17,229 
Chinook   15,300    3,970 
Chitwood   17,727    16,332 
Clover   12,647    17,425 
Coatbridge   2,801    6,021 
Collier   13,724    12,101 
Collinston   848    2,043 
Conway   15,845    17,951 
Cove   1,971    5,666 
Creekside   16,501    16,525 
Creekwood   4,193    4,465 
Cumberland   13,412    14,482 
Cupcake   8,625    8,604 
Cypress   4,552    5,905 
Daisy   13,115    13,978 
Davidson   1,932    2,681 
Dawson   3,333    4,057 
Delta   623    2,321 
Dewberry   2,373    4,398 
Diablo   3,107    3,353 
Dogwood   11,168    10,856 
Dolittle   3,757    5,749 
Dolly   17,153    17,389 
Dops   10,227    8,422 
Dorchester   9,172    11,622 
Dunbar   3,157    8,120 
Eagle   9,870    8,529 
Eastfair   3,497    5,169 
Eastwood   8,688    - 
Elevation   1,696    3,268 
Ella   11,488    10,117 
Ellen   15,216    2,675 
Elm   3,834    3,366 
Emporia   5,532    4,728 
Ensenada   2,380    9,710 

 

F-342

 

 

Series  2024 Disbursements   2023 Disbursements 
Falcon   7,821    8,114 
Felix   13,644    6,215 
Fenwick   11,642    7,455 
Fletcher   12,325    - 
Folly   9,345    10,874 
Forest   2,613    4,544 
Foster   20,937    9,332 
Franklin   15,435    3,194 
Gardens   4,929    5,403 
General   18,989    4,120 
Goose   8,771    9,163 
Grant   7,893    6,960 
Greenhill   6,498    6,878 
Gretal   20,350    17,786 
Grove   1,297    3,063 
Hadden   4,452    6,468 
Hansard   19,822    12,337 
Hansel   3,793    8,547 
Hargrave   10,393    - 
Harrison   9,225    7,938 
Henry   6,349    7,130 
Heritage   2,899    3,873 
Heron   1,714    4,317 
Highland   9,854    9,690 
Hines   5,541    9,744 
Hobbes   11,549    - 
Holcomb   14,591    12,268 
Holland   2,678    2,931 
Hollandaise   3,840    6,248 
Holloway   6,713    8,705 
Inglewood   18,828    20,277 
Irene   13,936    - 
Jack   2,055    5,688 
Jake   8,735    17,454 
Jefferson   18,822    11,178 
Jill   8,420    8,580 
Johnny   10,862    17,941 
June   5,841    18,608 
Jupiter   2,636    3,151 
Kawana   6,004    5,839 
Kennesaw   11,882    13,115 
Kenny   9,491    17,404 
KerriAnn   2,120    3,797 
Kessler   1,741    3,439 
Kingsley   4,190    7,193 
Kirkwood   3,178    3,291 
Korin   17,601    11,997 

 

F-343

 

 

Series  2024 Disbursements   2023 Disbursements 
Lallie   1,490    3,964 
Lanier   3,250    5,940 
Lannister   1,410    2,845 
Latte   11,554    12,417 
Lennox   4,619    6,780 
Lierly   9,154    8,416 
Lily   3,391    5,531 
Limestone   2,180    4,524 
Litton   9,117    9,420 
Longwoods   14,201    6,106 
Lookout   13,351    11,209 
Loretta   14,953    17,825 
Louis   16,431    6,159 
Louise   5,068    7,146 
Lovejoy   5,688    5,515 
Luna   2,908    5,834 
Lurleen   6,269    7,990 
Madison   2,953    3,539 
Mae   15,872    16,325 
Magnolia   1,601    3,477 
Malbec   6,477    9,099 
Mammoth   864    3,513 
Marcelo   14,960    14,860 
Marie   23,434    14,072 
Marietta   1,612    7,088 
Marion   12,410    3,043 
Marple   7,151    4,895 
Martell   10,714    3,408 
Mary   18,034    6,668 
Matchingham   7,359    6,502 
McGregor   12,998    12,117 
McLovin   7,550    9,007 
Meadow   4,330    4,453 
Mimosa   7,015    7,195 
Mojave   5,989    6,539 
Murphy   3,197    7,832 
Mycroft   12,483    4,996 
Nugget   17,250    18,825 
Odessa   6,146    5,688 
Olive   6,116    5,734 
Oly   5,305    8,518 
Onyx   16,409    7,686 
Oscar   12,806    2,986 
Osceola   9,947    3,350 
Osprey   10,436    11,687 
Otoro   2,053    4,091 

 

F-344

 

 

Series  2024 Disbursements   2023 Disbursements 
Palmer   14,474    3,472 
Patrick   5,258    5,315 
Peanut   4,329    4,028 
Pearl   19,419    21,500 
Pecan   9,739    8,446 
Peterson   15,019    - 
Piedmont   5,411    5,928 
Pinot   6,166    9,166 
Pioneer   10,161    15,647 
Plumtree   10,239    10,228 
Point   2,655    6,330 
Porthos   18,293    8,220 
Quincy   13,812    16,191 
Redondo   3,425    6,765 
Regency   10,229    8,949 
Reginald   6,460    13,048 
Reynolds   17,193    15,238 
Ribbonwalk   2,498    4,026 
Richardson   15,616    13,634 
Richmond   18,450    - 
Ridge   5,210    4,576 
Ritter   11,881    11,609 
River   6,185    8,131 
Riverwalk   11,830    11,738 
Rooney   4,951    4,685 
Roseberry   6,170    6,872 
Rosewood   3,453    3,260 
Roxy   4,483    3,727 
Saddlebred   5,636    5,341 
Saint   9,534    7,243 
Sajni   14,355    12,607 
Salem   4,803    8,253 
Salinas   10,545    8,425 
Saturn   2,607    3,000 
Scepter   2,695    3,370 
Sequoyah   3,163    6,562 
Shallowford   2,969    7,790 
Shoreline   5,022    6,354 
Sigma   6,840    6,307 
Simon   18,477    7,165 
Sims   14,668    6,491 
Soapstone   6,812    7,201 
Sodalis   9,328    9,406 
Spencer   6,535    8,296 
Splash   6,809    8,498 
Spring   10,859    10,620 
Stonebriar   2,262    2,840 
Sugar   4,053    4,846 
Summerset   3,278    3,033 
Sundance   3,930    7,395 
Sunnyside   13,990    10,542 
Swift   11,532    13,428 

 

F-345

 

 

Series  2024 Disbursements   2023 Disbursements 
Taylor   3,361    4,142 
Terracotta   2,206    6,981 
Theodore   17,160    3,392 
Tulip   4,540    4,485 
Tuscan   10,891    8,391 
Tuscarora   19,066    11,682 
Tuxford   1,049    4,219 
Vernon   4,222    4,528 
Walton   7,728    8,983 
Wave   418    2,118 
Weldon   2,766    2,960 
Wellington   17,003    16,506 
Wentworth   8,760    8,495 
Wescott   4,138    4,440 
Westchester   5,775    9,957 
Wildwood   7,173    4,841 
Willow   9,395    12,169 
Wilson   16,257    16,460 
Winchester   15,671    - 
Windsor   4,725    10,069 
Winston   12,214    14,867 
Wisteria   4,085    4,597 
           
   $2,126,831   $1,875,741 

 

Arrived Series Centennial was divested in October 2024. In November 2024, the Series distributed $23,856 to investors, based on a final share price of $12.00 per share.

 

F-346

 

 

NOTE 8: RELATED PARTY TRANSACTIONS

 

The Series’ Manager, Arrived Holdings, Inc., is a managing member with common management of the Series.

 

Mortgage Payables

 

Certain Series entered into mortgages with the Manager in connection with the purchases of the respective properties. The mortgages with the Manager are referenced in Note 5.

 

Due from (to) Related Party

 

The Company engages in multiple transactions with the Manager and its affiliates in the normal course of operating and financing activities. As of December 31, 2024 and 2023, certain Series collectively owed $1,386,475 and $3,663,314, respectively, to the Manager, including amounts related to the initial funding for certain Series’ property acquisitions. These advances are interest-free and do not have defined repayment terms.

 

In connection with the October 18, 2024 sale of the property held by Arrived Series Centennial, a series of Arrived Homes, LLC, the Series repaid $5,097 to the Manager for outstanding related party balances. Additionally, the Manager forgave $3,523 of related party amounts previously owed by the Series. These amounts were settled in connection with the sale proceeds. The forgiveness is further discussed in Note 8 – Deemed Contributions.

 

Deemed Contributions

 

During the years ended December 31, 2024 and 2023, certain Series received deemed contributions from the Manager, amounting to $3,523 and $87,627, respectively, in exchange for forgiveness of previously due amounts.

 

Management Compensation

 

The following table reflects the total management compensation paid by Series for the year ended December 31, 2024 and 2023.

 

December 31, 2024 
Series  Sourcing
fees		   Financing
and holding
fees		   Offering
expenses		   Asset
management
fee		   Reimbursements
of acquisition
expenses		   Property
management
fee, related
party		 
100  $-   $-   $-   $7,058   $-   $1,058 
101   -    -    -    7,265    -    2,131 
Abbington   -    -    -    5,541    -    1,706 
Abernant   7,950    3,970    5,457    1,363    2,500    531 
Alvin   11,110    5,550    7,477    1,905    2,500    1,387 
Amber   -    -    -    1,464    -    194 
Apollo   -    -    -    1,074    -    58 
Aster   -    -    -    1,530    -    667 
Augusta   -    -    -    1,787    -    1,075 
Avebury   -    -    -    1,503    -    282 
Avondale   -    -    -    1,980    -    827 
Badminton   -    -    -    1,102    -    387 
Ballinger   -    -    -    1,791    -    1,023 
Bandelier   -    -    -    1,477    -    857 
Baron   -    -    -    6,531    -    1,473 
Basil   -    -    -    956    -    440 
Bayside   -    -    -    1,230    -    490 
Bazzel   -    -    -    2,913    -    393 
Bedford   -    -    -    1,232    -    66 
Bella   -    -    -    1,830    -    1,027 
Belle   -    -    -    2,640    -    469 
Belvedere   -    -    -    1,770    -    1,363 
Bergenia   -    -    -    1,302    -    715 
Blossom   -    -    -    1,530    -    529 
Bonneau   -    -    -    2,016    -    1,404 
Brainerd   -    -    -    1,740    -    1,315 
Braxton   -    -    -    1,941    -    941 
Brennan   -    -    -    1,350    -    722 
Briarwood   -    -    -    1,260    -    561 
Brooklyn   -    -    -    996    -    409 
Burlington   -    -    -    7,441    -    1,550 
Butter   -    -    -    1,611    -    360 

 

F-347

 

 

December 31, 2024 
Series  Sourcing
fees		   Financing
and holding
fees		   Offering
expenses		   Asset
management
fee		   Reimbursements
of acquisition
expenses		   Property
management
fee, related
party		 
Calvin   -    -    -    1,410    -    899 
Camino   -          -          -    1,590    -    (76)
Cawley         -    -    -    1,884    -    1,267 
Centennial   -    -    -    887    -    (108)
Chaparral   -    -    -    1,048    -    545 
Chelsea   -    -    -    1,634    -    306 
Chester   -    -    -    2,232    -    1,190 
Chickamauga   -    -    -    2,234    -    1,387 
Chinook   -    -    -    1,830    -    1,075 
Chitwood   -    -    -    2,310    -    1,450 
Clover   -    -    -    3,820    -    170 
Coatbridge   -    -    -    1,553    -    195 
Collier   -    -    -    4,109    -    1,334 
Collinston   -    -    -    1,031    -    (62)
Conway   -    -    -    4,110          -    2,013 
Cove   -    -    -    1,260    -    (151)
Creekside   -    -    -    1,869    -    1,030 
Creekwood   -    -    -    1,737    -    444 
Cumberland   -    -    -    1,770    -    615 
Cupcake   -    -    -    1,092    -    532 
Cypress   -    -    -    2,190    -    454 
Daisy   -    -    -    1,812    -    802 
Davidson   -    -    -    925    -    323 
Dawson   -    -    -    1,099    -    192 
Delta   -    -    -    1,455    -    154 
Dewberry   -    -    -    924    -    197 
Diablo   -    -    -    1,446    -    1,003 
Dogwood   -    -    -    2,806    -    (237)
Dolittle   -    -    -    1,339    -    491 
Dolly   -    -    -    4,140    -    2,010 
Dops   -    -    -    1,230    -    299 
Dorchester   -    -    -    4,023    -    969 
Dunbar   -    -    -    3,734    -    835 
Eagle   -    -    -    1,620    -    761 
Eastfair   -    -    -    860    -    62 
Eastwood   -    -    -    1,910    -    372 
Elevation   -    -    -    1,258    -    130 
Ella   -    -    -    1,560    -    902 
Ellen   -    -    -    1,497    -    1,170 
Elm   -    -    -    821    -    532 
Emporia   -    -    -    1,815    -    236 
Ensenada   -    -    -    2,320    -    1,404 
Falcon   -    -    -    1,620    -    831 
Felix   -    -    -    1,488    -    480 
Fenwick   -    -    -    1,800    -    1,053 
Fletcher   -    -    -    1,056    -    523 
Folly   -    -    -    3,630    -    1,325 
Forest   -    -    -    1,632    -    404 
Foster   -    -    -    1,879    -    1,415 
Franklin   -    -    -    1,800    -    1,219 

 

F-348

 

 

December 31, 2024 
Series  Sourcing
fees		   Financing
and holding
fees		   Offering
expenses		   Asset
management
fee		   Reimbursements
of acquisition
expenses		   Property
management
fee, related
party		 
Gardens   -    -    -    1,164    -    560 
General   -    -    -    1,890    -    1,748 
Goose   -    -    -    1,509    -    848 
Grant   -    -    -    1,631    -    554 
Greenhill   -    -    -    1,405    -    275 
Gretal   -    -    -    2,700    -    1,459 
Grove   -    -    -    1,051    -    179 
Hadden   -    -    -    1,109    -    203 
Hansard   -    -    -    1,817    -    1,302 
Hansel   -    -    -    2,424    -    838 
Hargrave   8,130    4,060    5,609    1,395    2,500    211 
Harrison   -    -    -    2,760    -    1,867 
Henry   -    -    -    2,472    -    496 
Heritage   -    -    -    1,511    -    359 
Heron   -    -    -    1,548    -    225 
Highland   -    -    -    1,638    -    201 
Hines   -    -    -    2,966    -    487 
Hobbes   -    -    -    1,395    -    472 
Holcomb   -    -    -    4,095    -    387 
Holland   -    -    -    1,034    -    50 
Hollandaise   -    -    -    1,646    -    729 
Holloway   -    -    -    1,478    -    260 
Inglewood         -          -          -    4,074          -    2,064 
Irene   -    -    -    1,056    -    499 
Jack   -    -    -    2,177    -    863 
Jake   -    -    -    6,763    -    2,068 
Jefferson   -    -    -    1,643    -    1,219 
Jill   -    -    -    2,416    -    1,261 
Johnny   -    -    -    6,679    -    1,634 
June   -    -    -    6,679    -    1,180 
Jupiter   -    -    -    1,053    -    352 
Kawana   -    -    -    1,497    -    175 
Kennesaw   -    -    -    4,882    -    387 
Kenny   -    -    -    4,140    -    1,025 
KerriAnn   -    -    -    1,464    -    185 
Kessler   -    -    -    1,542    -    553 
Kingsley   -    -    -    1,269    -    390 
Kirkwood   -    -    -    1,381    -    739 
Korin   -    -    -    1,673    -    1,103 
Lallie   -    -    -    1,697    -    420 
Lanier   -    -    -    1,681    -    554 
Lannister   -    -    -    1,034    -    62 
Latte   -    -    -    4,174    -    112 
Lennox   -    -    -    1,059    -    350 
Lierly   -    -    -    946    -    566 
Lily   -    -    -    2,438    -    1,414 
Limestone   -    -    -    1,385    -    245 
Litton   -    -    -    1,920    -    1,047 
Longwoods   -    -    -    1,620    -    1,075 
Lookout   -    -    -    3,992    -    1,109 
Loretta   -    -    -    4,110    -    2,371 
Louis   -    -    -    1,622    -    979 
Louise   -    -    -    1,323    -    117 
Lovejoy   -    -    -    1,525    -    298 
Luna   -    -    -    907    -    302 
Lurleen   -    -    -    1,320    -    174 

 

F-349

 

 

December 31, 2024 
Series  Sourcing
fees		   Financing
and holding
fees		   Offering
expenses		   Asset
management
fee		   Reimbursements
of acquisition
expenses		   Property
management
fee, related
party		 
Madison   -    -    -    1,467    -    160 
Mae   -    -    -    2,122    -    213 
Magnolia   -    -    -    1,354    -    174 
Malbec   -    -    -    1,379    -    1,279 
Mammoth   -    -    -    1,489    -    786 
Marcelo   -    -    -    1,710    -    811 
Marie   -    -    -    2,389    -    1,555 
Marietta   -    -    -    1,825    -    72 
Marion   -    -    -    1,530    -    931 
Marple   -          -          -    1,056    -    40 
Martell         -    -    -    1,560    -    843 
Mary   -    -    -    1,628          -    1,171 
Matchingham   -    -    -    952    -    302 
McGregor   -    -    -    4,343    -    918 
McLovin   -    -    -    2,200    -    2,155 
Meadow   -    -    -    1,591    -    354 
Mimosa   -    -    -    1,290    -    505 
Mojave   -    -    -    1,160    -    366 
Murphy   -    -    -    1,306    -    232 
Mycroft   -    -    -    1,080    -    523 
Nugget   -    -    -    6,391    -    1,934 
Odessa   -    -    -    2,204    -    1,987 
Olive   -    -    -    1,373    -    259 
Oly   -    -    -    2,191    -    1,840 
Onyx   -    -    -    1,950    -    421 
Oscar   -    -    -    1,500    -    543 
Osceola   -    -    -    1,680    -    305 
Osprey   -    -    -    4,046    -    4 
Otoro   -    -    -    2,042    -    559 
Palmer   -    -    -    1,758    -    893 
Patrick   -    -    -    1,131    -    445 
Peanut   -    -    -    1,133    -    619 
Pearl   -    -    -    6,257    -    1,771 
Pecan   -    -    -    1,068    -    470 
Peterson   -    -    -    1,355    -    691 
Piedmont   -    -    -    2,310    -    1,414 
Pinot   -    -    -    1,392    -    1,209 
Pioneer   -    -    -    6,558    -    1,892 
Plumtree   -    -    -    1,088    -    214 
Point   -    -    -    1,701    -    677 
Porthos   -    -    -    1,812    -    1,363 
Quincy   -    -    -    3,300    -    2,070 
Redondo   -    -    -    1,890    -    972 
Regency   -    -    -    1,650    -    1,373 
Reginald   -    -    -    2,610    -    1,441 
Reynolds   -    -    -    4,928    -    468 
Ribbonwalk   -    -    -    1,390    -    510 

 

F-350

 

 

December 31, 2024 
Series  Sourcing
fees		   Financing
and holding
fees		   Offering
expenses		   Asset
management
fee		   Reimbursements
of acquisition
expenses		   Property
management
fee, related
party		 
Richardson   -    -    -    1,890    -    910 
Richmond   13,290    6,640    8,962    2,279    2,500    1,564 
Ridge   -    -    -    1,053    -    806 
Ritter   -    -    -    5,808    -    1,359 
River   -    -    -    1,277    -    (36)
Riverwalk   -    -    -    4,572    -    1,379 
Rooney   -    -    -    1,565    -    1,112 
Roseberry   -    -    -    1,464    -    432 
Rosewood   -    -    -    1,454    -    340 
Roxy   -    -    -    1,436    -    1,133 
Saddlebred   -    -    -    1,984    -    1,629 
Saint   -    -    -    1,479    -    1,252 
Sajni   -    -    -    1,800    -    1,579 
Salem   -    -    -    1,338    -    461 
Salinas   -    -    -    1,380    -    811 
Saturn   -    -    -    1,053    -    254 
Scepter   -    -    -    1,178    -    911 
Sequoyah   -    -    -    1,488    -    464 
Shallowford   -    -    -    2,172    -    762 
Shoreline   -    -    -    1,249    -    488 
Sigma   -    -    -    1,640    -    420 
Simon   -    -    -    1,734    -    1,171 
Sims   -    -    -    1,637    -    931 
Soapstone   -    -    -    1,000    -    533 
Sodalis   -    -    -    1,740    -    934 
Spencer   -    -    -    1,388    -    495 
Splash   -    -    -    1,119    -    365 
Spring   -    -    -    1,488    -    186 
Stonebriar   -    -    -    1,091    -    254 
Sugar   -    -    -    1,471    -    205 
Summerset   -    -    -    1,189    -    209 
Sundance   -    -    -    1,890    -    894 
Sunnyside   -    -    -    1,355    -    592 
Swift   -    -    -    3,956    -    301 

 

F-351

 

 

December 31, 2024 
Series  Sourcing
fees		   Financing
and holding
fees		   Offering
expenses		   Asset
management
fee		   Reimbursements
of acquisition
expenses		   Property
management
fee, related
party		 
Taylor   -    -    -    1,380    -    355 
Terracotta   -    -    -    1,398    -    390 
Theodore   -    -    -    1,720    -    1,008 
Tulip   -    -    -    1,664    -    309 
Tuscan         -          -          -    1,655    -    414 
Tuscarora   -    -    -    2,016          -    1,483 
Tuxford   -    -    -    1,375    -    187 
Vernon   -    -    -    1,163    -    199 
Walton   -    -    -    3,470    -    964 
Wave   -    -    -    1,433    -    353 
Weldon   -    -    -    1,031    -    241 
Wellington   -    -    -    2,430    -    410 
Wentworth   -    -    -    1,125    -    1,422 
Wescott   -    -    -    2,016    -    715 
Westchester   -    -    -    1,821    -    394 
Wildwood   -    -    -    1,504    -    811 
Willow   -    -    -    1,758    -    464 
Wilson   -    -    -    2,310    -    1,222 
Winchester   -    -    -    1,590    -    858 
Windsor   -    -    -    1,572    -    503 
Winston   -    -    -    1,974    -    39 
Wisteria   -    -    -    1,306    -    537 
                               
   $40,480   $20,220   $27,505   $494,467   $10,000   $179,497 

 

F-352

 

 

December 31, 2023 
Series  Sourcing
fees		   Financing
and holding
fees		   Offering
expenses		   Asset
management
fee		   Reimbursements
of acquisition
expenses		   Property
management
fee, related
party		 
100  $-   $-   $-   $7,058   $-   $2,415 
101   -    -    -    7,265    -    868 
Abbington   -    -    -    5,541    -    1,716 
Abernant   -    -    -    -    -    - 
Alvin   -    -    -    -    -    231 
Amber   -    -    -    1,464    -    303 
Apollo   -    -    -    1,074    -    223 
Aster   -    -    -    1,530    -    431 
Augusta   10,420    5,740    7,057    745    2,500    231 
Avebury   -    -    -    1,503    -    299 
Avondale   11,550    6,330    7,784    1,155    2,500    413 
Badminton   -    -    -    1,102    -    319 
Ballinger   10,440    5,220    7,046    -    2,500    - 
Bandelier   -    -    -    1,477    -    1,197 
Baron   -    -    -    6,531    -    1,869 
Basil   -    -    -    956    -    120 
Bayside   -    -    -    1,231    -    335 
Bazzel   -    -    -    2,913    -    152 
Bedford   -    -    -    1,232    -    367 
Bella   10,670    6,110    7,271    915    2,500    - 
Belle   -    -    -    2,640    -    966 
Belvedere   10,320    6,020    6,998    1,033    2,500    661 
Bergenia   7,590    4,110    5,178    543    2,500    218 
Blossom   -    -    -    1,530    -    507 
Bonneau   -    -    -    2,016    -    1,334 
Brainerd   -    -    -    1,740    -    941 
Braxton   -    -    -    1,941    -    767 
Brennan   7,870    4,290    2,136    1,013    -    102 
Briarwood   7,340    3,670    5,074    -    2,500    - 
Brooklyn   -    -    -    996    -    164 
Burlington   -    -    -    7,441    -    2,358 
Butter   -    -    -    1,611    -    448 
Calvin   8,220    4,110    5,666    -    2,500    164 
Camino   -    -    -    1,590    -    192 
Campbell   -    -    -    -    -    - 
Cawley   10,990    6,040    7,422    942    2,500    598 
Centennial   -    -    -    1,183    -    152 
Chaparral   -    -    -    1,048    -    383 
Chattahoochee   -    -    -    -    -    - 
Chelsea   -    -    -    1,634    -    319 
Chester   -    -    -    2,232    -    1,217 
Chickamauga   13,030    6,640    8,620    2,234    -    1,348 
Chinook   10,670    6,110    7,223    763    2,500    10 
Chitwood   -    -    -    3,080    -    1,402 
Clover   -    -    -    3,820    -    303 
Coatbridge   -    -    -    1,071    -    - 
Collier   -    -    -    4,109    -    1,048 
Collinston   -    -    -    1,031    -    393 
Conway   -    -    -    4,110    -    2,017 
Cove   7,350    4,170    4,939    735    2,500    260 
Creekside   -    -    -    2,492    -    951 
Creekwood   -    -    -    1,737    -    158 
Cumberland   -    -    -    1,770    -    717 
Cupcake   -    -    -    1,092    -    273 
Cypress   -    -    -    2,190    -    675 

 

F-353

 

 

December 31, 2023 
Series  Sourcing
fees		   Financing
and holding
fees		   Offering
expenses		   Asset
management
fee		   Reimbursements
of acquisition
expenses		   Property
management
fee, related
party		 
Daisy   -    -    -    1,812    -    717 
Davidson   -    -    -    925    -    91 
Dawson   -    -    -    1,099    -    247 
Delta   -    -    -    1,455    -    - 
Dewberry   -    -    -    924    -    85 
Diablo   -    -    -    1,446    -    420 
Dogwood   -    -    -    2,806    -    239 
Dolittle   -    -    -    1,339    -    290 
Dolly   -    -    -    5,520          -    1,558 
Dops   7,170    4,380    4,813    1,025    -    223 
Dorchester   -    -    -    4,023    -    1,080 
Dunbar   -    -    -    3,734    -    - 
Duncan   -    -    -    -    -    - 
Eagle   -    -    -    1,620    -    263 
Eastfair   0    -    -    860    -    287 
Eastwood   11,130    5,560    7,495    -    2,500    225 
Elevation   -    -    -    1,258    -    - 
Ella   9,100    4,920    6,134    1,300    2,500    611 
Ellen   8,730    4,860    5,956    499    2,500    - 
Elm   -    -    -    821    -    346 
Emporia   -    -    -    1,815    -    490 
Ensenada   -    -    -    2,320    -    2,253 
Falcon   -    -    -    1,620    -    478 
Felix   8,680    4,550    5,929    620    2,500    288 
Fenwick   10,500    5,760    7,104    750    2,500    568 
Fletcher   6,160    3,080    4,312    -    2,500    88 
Folly   -    -    -    3,630    -    1,173 
Forest   -    -    -    1,632    -    - 
Foster   10,950    6,200    7,468    939    2,500    676 
Franklin   10,500    5,910    7,102    600    2,500    428 
Gardens   -    -    -    1,164    -    250 
General   11,020    6,190    7,497    630    2,500    - 
Goose   -    -    -    1,509    -    258 
Grant   -    -    -    1,631    -    359 
Greenhill   -    -    -    1,405    -    399 
Gretal   -    -    -    2,700    -    905 
Grove   -    -    -    1,051    -    239 
Hadden   -    -    -    1,109    -    267 
Hansard   10,590    6,020    7,052    1,514    -    1,109 
Hansel   -    -    -    2,424    -    971 
Hargrave   -    -    -    -    -    - 
Harrison   -    -    -    2,760    -    2,018 
Henry   -    -    -    3,296    -    958 
Heritage   -    -    -    1,511    -    584 
Heron   -    -    -    1,548    -    303 
Highland   -    -    -    1,638    -    253 
Hines   -    -    -    2,966    -    647 
Hobbes   8,130    4,060    5,609    -    2,500    - 
Holcomb   -    -    -    4,095    -    483 
Holland   -    -    -    1,034    -    184 
Hollandaise   -    -    -    1,646    -    1,357 
Holloway   -    -    -    1,478    -    368 

 

F-354

 

 

December 31, 2023 
Series  Sourcing
fees		   Financing
and holding
fees		   Offering
expenses		   Asset
management
fee		   Reimbursements
of acquisition
expenses		   Property
management
fee, related
party		 
Inglewood   -    -    -    4,074    -    2,018 
Irene   6,160    3,080    4,312    -    2,500    73 
Jack   -    -    -    2,177    -    1,537 
Jake   -    -    -    6,763    -    979 
Jefferson   9,580    5,470    6,391    1,369    -    800 
Jill   -    -    -    2,416    -    1,068 
Johnny   -    -    -    6,679    -    2,210 
June   -    -    -    6,679    -    2,279 
Jupiter   -    -    -    1,053    -    243 
Kawana   -    -    -    1,497    -    136 
Kennesaw   -    -    -    4,882    -    746 
Kenny   -    -    -    5,520    -    1,868 
KerriAnn   -    -    -    1,464    -    303 
Kessler   -    -    -    1,542    -    621 
Kingsley   -    -    -    1,269    -    424 
Kirkwood   -    -    -    1,381    -    621 
Korin   9,760    6,160    6,491    1,394    -    926 
Lallie   -    -    -    1,697    -    405 
Lanier   -    -    -    1,681    -    367 
Lannister   -    -    -    1,034    -    308 
Latte   -    -    -    4,174    -    273 
Lennox   -    -    -    1,059    -    271 
Lierly   -    -    -    946    -    143 
Lily   -    -    -    2,438    -    1,542 
Limestone   -    -    -    1,385    -    220 
Litton   -    -    -    1,920    -    1,042 
Longwoods   9,450    5,340    6,428    810    2,500    520 
Lookout   -    -    -    3,992    -    1,100 
Loretta   -    -    -    4,110    -    2,118 
Louis   9,460    5,070    6,484    676    2,500    424 
Louise   -    -    -    1,323    -    311 
Lovejoy   -    -    -    1,525    -    160 
Luna   -    -    -    907    -    280 
Lurleen   7,700    4,960    3,304    1,210    -    343 
Madison   -    -    -    1,467    -    152 
Mae   -    -    -    2,122    -    191 
Magnolia   -    -    -    1,354    -    542 
Malbec   -    -    -    1,379    -    - 
Mammoth   -    -    -    1,489    -    688 
Marcelo   -    -    -    1,710    -    559 
Marie   11,140    6,460    7,412    1,115    -    1,191 
Marietta   -    -    -    1,825    -    168 
Marion   8,920    5,060    6,088    638    2,500    174 
Marple   6,160    3,590    4,260    616    2,500    149 
Martell   9,100    5,260    6,203    910    2,500    - 
Mary   9,490    5,300    6,352    678    2,500    443 
Matchingham   -    -    -    952    -    337 
McGregor   -    -    -    2,732    -    909 
McLovin   -    -    -    2,200    -    2,017 
Meadow   -    -    -    1,591    -    138 
Mimosa   -    -    3,510    1,290    -    193 
Mojave   -    -    -    1,160    -    259 
Murphy   -    -    -    1,306    -    367 
Mycroft   6,300    3,630    4,346    630    2,500    250 
Nugget   -    -    -    6,391    -    1,825 

 

F-355

 

 

December 31, 2023 
Series  Sourcing
fees		   Financing
and holding
fees		   Offering
expenses		   Asset
management
fee		   Reimbursements
of acquisition
expenses		   Property
management
fee, related
party		 
Odessa   -    -    -    2,204    -    1,007 
Olive   -    -    -    1,373    -    348 
Oly   -    -    -    2,191    -    1,365 
Onyx   11,370    6,280    7,698    813    2,500    381 
Oscar   8,750    4,570    5,974    500    2,500    - 
Osceola   9,800    5,430    6,700    700    2,500    90 
Osprey   -    -    -    4,046    -    367 
Otoro   -    -    -    2,042    -    - 
Palmer   10,250    5,550    6,944    586    2,500    - 
Patrick   -    -    -    1,131    -    213 
Peanut   -    -    -    1,133    -    113 
Pearl   -    -    -    6,257    -    698 
Pecan   -    -    -    1,068    -    144 
Peterson   7,900    3,950    5,424    -    2,500    26 
Piedmont   -    -    -    2,310    -    1,293 
Pinot   -    -    -    1,392    -    682 
Pioneer   -    -    -    6,558    -    2,181 
Plumtree   -    -    -    1,088    -    493 
Point   -    -    -    1,701    -    1,404 
Porthos   10,570    6,080    7,156    906    2,500    669 
Quincy   -    -    -    3,300    -    1,415 
Redondo   -    -    -    1,890    -    1,257 
Regency   9,620    6,420    4,023    1,375    -    1,125 
Reginald   -    -    -    2,610    -    1,703 
Reynolds   -    -    -    4,928    -    749 
Ribbonwalk   -    -    -    1,390    -    - 
Richardson   -    -    -    1,890    -    612 
Richmond   -    -    -    -    -    74 
Ridge   -    -    -    1,053    -    319 
Ritter   -    -    -    5,808    -    1,258 
River   -    -    -    1,277    -    349 
Riverwalk   -    -    -    4,572    -    1,459 
Rooney   -    -    -    1,565    -    1,101 
Roseberry   -    -    -    1,464    -    - 
Rosewood   -    -    -    1,454    -    355 
Roxy   -    -    -    1,436    -    1,005 
Saddlebred   -    -    -    1,984    -    1,246 
Saint   -    -    -    1,479    -    880 
Sajni   10,500    6,020    7,007    1,500    2,500    1,186 
Salem   -    -    -    1,338    -    99 
Salinas   8,050    4,490    5,436    1,150    2,500    607 
Saturn   -    -    -    1,053    -    135 
Scepter   -    -    -    1,178    -    828 
Sequoyah   -    -    -    1,488    -    629 
Shallowford   -    -    -    2,172    -    1,284 
Shoreline   -    -    -    1,249    -    623 
Sigma   -    -    -    1,640    -    371 
Simon   10,110    5,650    6,838    867    2,500    393 
Sims   9,550    5,370    6,493    955    2,500    163 
Soapstone   -    -    -    1,000    -    225 
Sodalis   -    -    -    2,320    -    751 
Spencer   -    -    -    1,388    -    442 
Splash   -    -    -    1,119    -    216 
Spring   -    -    -    1,488    -    271 
Stonebriar   -    -    -    1,091    -    305 
Sugar   -    -    -    1,471    -    287 
Summerset   -    -    -    1,189    -    - 
Sundance   -    -    -    1,890    -    987 
Sunnyside   7,900    4,140    5,271    1,129    -    861 
Swift   -    -    -    3,956    -    689 

 

F-356

 

 

December 31, 2023 
Series  Sourcing
fees		   Financing
and holding
fees		   Offering
expenses		   Asset
management
fee		   Reimbursements
of acquisition
expenses		   Property
management
fee, related
party		 
Taylor   -    -    -    1,380    -    11 
Terracotta   -    -    -    1,398    -    926 
Theodore   10,030    5,620    6,784    573    2,500    76 
Tulip   -    -    -    1,664    -    - 
Tuscan   -    -    -    1,655    -    565 
Tuscarora   11,750    6,470    7,802    1,680    -    1,106 
Tuxford   -    -    -    1,375    -    303 
Vernon   -    -    -    1,163    -    303 
Walton   -    -    -    3,470    -    637 
Wave   -    -    -    1,433    -    - 
Weldon   -    -    -    1,031    -    231 
Wellington   -    -    -    2,430    -    704 
Wentworth   -    -    -    1,125    -    - 
Wescott   -    -    -    2,017    -    599 
Westchester   -    -    -    1,821    -    503 
Wildwood   -    -    -    1,504    -    878 
Willow   -    -    -    1,758    -    769 
Wilson   -    -    -    2,310    -    1,223 
Winchester   9,270    4,630    6,310    -    2,500    222 
Windsor   -    -    -    1,572    -    1,205 
Winston   -    -    -    1,974    -    59 
Wisteria   -    -    -    1,306    -    2 
                               
   $487,760   $270,100   $326,326   $447,896   $102,500   $142,856 

 

F-357

 

 

Transfer of Series and Recognition of Due to Commonly Controlled Entity

 

On September 1, 2024, Series Arlo, Series Bellvue, Series Brentwood, Series Hartsfield, Series Hualapai, Series Lexie, and Series Lorenz were transferred to a commonly controlled entity at each Series’ cost basis. As of the transfer date, these Series had a combined accumulated deficit of $109,947. To preserve continuity in the consolidated financial statements, the Company recognized a liability, “Due to Commonly Controlled Entity,” in the same amount, representing the total net liabilities of the transferred Series as of the transfer date. A corresponding amount has been recorded in “Unallocated Members’ Equity (Deficit).”

 

This liability is not contractually owed and is not expected to be settled in cash. It is presented solely to ensure that the consolidated balance sheet remains in balance and that the consolidated statement of members’ equity appropriately reflects cumulative financial results in accordance with SEC reporting requirements for consolidating financial statements.

 

As Series Campbell was sold in 2023 and its retained earnings were not distributed, the retained earnings balance of $69,756, was reclassified to unallocated members’ capital in 2024 to reflect its continued inclusion in the Company’s consolidated equity.

 

NOTE 9: PROPERTY DISPOSITIONS

 

On October 18, 2024, Arrived Series Centennial, a series of Arrived Homes, LLC, sold its property for $351,000. The carrying value of the property at the time of sale was $190,000. Proceeds from the sale were used to repay the outstanding mortgage payable and settle amounts due to the Manager and affiliated entities. As such, the recognized gain on sale was adjusted to reflect these repayments and totaled $80,846. See Note 5 – Mortgage Payable and Note 8 – Related Party Transactions.

 

NOTE 10: INCOME TAXES

 

Deferred taxes are recognized for temporary differences between the basis of assets and liabilities for financial statement and income tax purposes. The differences relate primarily to federal and state net operating loss carryforwards. As of December 31, 2024 and 2023, the Company had estimated net deferred tax assets before valuation allowance of $1,870,140 and $1,190,080, solely attributable to net operating loss carryforwards.

 

The Company recognizes deferred tax assets to the extent that it believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. The Company assessed the need for a valuation allowance against its net deferred tax assets and determined a full valuation allowance is required due to the current uncertainty of the future realization of the deferred tax assets.

 

Therefore, an estimated valuation allowance of $1,836,248 and $1,190,080 was recorded as of December 31, 2024, and 2023. Deferred tax assets were calculated using the Company’s combined effective tax rates, which it estimated to be ranging from 21.0% to 27% based on the state of the respective Series. The effective rate is reduced to 0% for 2024 and 2023 due to the full valuation allowance on its net deferred tax assets. The valuation allowance increased by $2,471,029 and $600,889 for the years ended December 31, 2024 and 2023.

 

The Company’s ability to utilize net operating loss carryforwards will depend on its ability to generate adequate future taxable income. As of December 31, 2024 and 2023, the Company had net operating loss carryforwards available to offset future taxable income in the amount of $6,066,877 and $4,391,186.

 

The Company’s policy is to record interest and penalties associated with unrecognized tax benefits as additional income taxes in the consolidated statement of comprehensive loss. At January 1, 2024, the Company had no unrecognized tax benefits and no charge during 2023, and accordingly, the Company did not recognize any interest or penalties during 2024 related to unrecognized tax benefits. There is no accrual for uncertain tax positions as of December 31, 2024.

 

The Company is not presently subject to any income tax audit in any taxing jurisdiction, though its 2024 tax year remains open to examination.

 

NOTE 11: SUBSEQUENT EVENTS

 

On January 30, 2025, Arrived Fund Manager, LLC, a Delaware limited liability company, became the Manager of each Series. Arrived Holdings Inc., a Delaware corporation, is the sole member of Arrived Fund Manager, LLC.

 

F-358

 

 

ITEM 8. EXHIBITS

 

PART III EXHIBITS

 

Exhibit No.    Description 
2.1*    Certificate of Formation of Arrived Homes, LLC
2.2*    Operating Agreement of Arrived Homes, LLC
3.1*    Form of Series Designation of Arrived Homes Series [*] LLC, a series of Arrived Homes, LLC
4.1*   Form of subscription agreement of Arrived Homes Series [*] LLC, a Series of Arrived Homes, LLC
6.1*    Broker Dealer Agreement, dated September 23, 2020, between Arrived Homes LLC and Dalmore Group, LLC
6.2*    Form of Purchase and Sale Agreement dated October 26, 2020, between Arrived Holdings, Inc. and Arrived Homes Series Lierly LLC, a series of Arrived Homes, LLC
6.3*    Form of Promissory Note between Arrived Homes Series Lierly LLC, a series of Arrived Holdings, LLC, and Arrived Holdings, Inc.
6.4*    Form of Property Management Agreement dated [*], 202[*], between Blue Canopy Realty and Arrived Homes Series [*] LLC, a series of Arrived Homes, LLC
6.5*    Form of Purchase and Sale Agreement dated October 26, 2020, between Arrived Holdings, Inc. and Arrived Homes Series Soapstone LLC, a series of Arrived Homes, LLC
6.6*    Promissory Note between Arrived Homes Series Soapstone LLC, a series of Arrived Holdings, LLC, and Arrived Holdings, Inc.
6.7*    Form of Purchase and Sale Agreement dated January 4, 2021, between Arrived Holdings, Inc. and Arrived Homes Series Patrick LLC, a series of Arrived Homes, LLC
6.8*    Form of Software and Services License Agreement dated [*], 2020 by and between North Capital Investment Technology, Inc. and Arrived Holdings, Inc.
6.9*    Promissory Note between Arrived Homes Series Patrick LLC, a series of Arrived Homes, LLC and Arrived Holdings, Inc. dated January 4, 2021
6.10*    Form of Purchase and Sale Agreement dated January 1, 2021, between Arrived Holdings, Inc. and Arrived Homes Series Pecan LLC, a series of Arrived Homes, LLC
6.11*    Promissory Note between Arrived Homes Series Pecan LLC, a series of Arrived Homes, LLC and Arrived Holdings, Inc. dated January 1, 2021
6.12*    Form of Membership Interest Purchase Agreement dated January 4, 2021, between Arrived Holdings, Inc. and Arrived Homes Series Plumtree LLC, a series of Arrived Homes, LLC 
6.13*    Promissory Note between Arrived Homes Series Plumtree LLC, a series of Arrived Homes, LLC and Arrived Holdings, Inc. dated January 4, 2021
6.14*    Form of Membership Interest Purchase Agreement dated January 14, 2021, between Arrived Holdings, Inc. and Arrived Homes Series Chaparral LLC, a series of Arrived Homes, LLC
6.15*    Promissory Note between Arrived Homes Series Chaparral LLC, a series of Arrived Homes, LLC and Arrived Holdings, Inc. dated January 14, 2021
6.16*   Membership Interest Purchase Agreement dated April 30, 2021, between Arrived Holdings, Inc. and Arrived Homes Series Splash LLC, a series of Arrived Homes, LLC
6.17*   Promissory Note between Arrived Homes Series Splash LLC, a series of Arrived Homes, LLC and Arrived Holdings, Inc. dated April 30, 2021
6.18*   Membership Interest Purchase Agreement dated May 12, 2021, between Arrived Holdings, Inc. and Arrived Homes Series Tuscan LLC, a series of Arrived Homes, LLC
6.19*   Promissory Note between Arrived Homes Series Tuscan LLC, a series of Arrived Homes, LLC and Arrived Holdings, Inc. dated May 12, 2021
6.20*   Contract of Sale Residential dated May 11, 2021 by and between the seller and Arrived SC Kingsley, LLC
6.21*   Promissory Note between Arrived Homes Series Kingsley LLC, a series of Arrived Homes, LLC and Arrived Holdings, Inc. dated June 1, 2021
6.22*   Offer to Purchase and Contract dated May 14, 2021 by and between certain sellers and Arrived NC Centennial, LLC
6.23*   Promissory Note between Arrived Homes Series Centennial LLC, a series of Arrived Homes, LLC and Arrived Holdings, Inc. dated June 7, 2021
6.24*   Contract of Sale Residential dated May 14, 2021 by and between the seller named therein and Arrived SC Eastfair, LLC
6.25*   Promissory Note between Arrived Homes Series Eastfair LLC, a series of Arrived Homes, LLC and Arrived Holdings, Inc. dated June 4, 2021
6.26*   Purchase and Sale Agreement dated May 13, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Badminton Property
6.27*   Purchase and Sale Agreement dated May 21, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Basil Property
6.28*   Purchase and Sale Agreement dated May 15, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Eastfair Property
6.29*   Purchase and Sale Agreement dated May 12, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Holloway Property
6.30*   Purchase and Sale Agreement dated May 11, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Kingsley Property
6.31*   Purchase and Sale Agreement dated May 21, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Lallie Property
6.32*   Purchase and Sale Agreement dated March 29, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Pinot Property
6.32.1*   Counteroffer to Offer dated March 27, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Pinot Property
6.33*   Purchase and Sale Agreement dated March 26, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Salem Property
6.33.1*   Counteroffer to Offer dated March 30, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Salem Property
6.34*   Purchase and Sale Agreement dated May 24, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Shoreline Property
6.35*   Purchase and Sale Agreement dated May 24, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Spencer Property
6.36*   Purchase and Sale Agreement dated March 29, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Splash Property
6.36.1*   Counteroffer to Offer dated March 29, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Splash Property

 

67

 

 

6.37*   Purchase and Sale Agreement dated May 14, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Centennial Property
6.38*   Purchase and Sale Agreement dated May 25, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Dewberry Property
6.39*   Purchase and Sale Agreement dated May 11, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Luna Property
6.40*   Purchase and Sale Agreement dated March 27, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Malbec Property
6.41*   Purchase and Sale Agreement dated June 2, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Roseberry Property
6.42*   Purchase and Sale Agreement dated May 21, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Summerset Property
6.43*   Purchase and Sale Agreement dated March 27, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Tuscan Property
6.43.1*   Counteroffer to Offer dated March 29, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Tuscan Property
6.44*   Purchase and Sale Agreement dated June 3, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Windsor Property
6.45*   Form of Property Management Agreement dated [*], 20[*], between Great Jones and Arrived Homes Series [*], a series of Arrived Homes, LLC
6.46*   Form of Promissory Note between Arrived Holdings, Inc. and Arrived Homes Series [*], a Series of Arrived Homes, LLC
6.47*   Form of Lease Agreement between Tenant and Arrived Homes Series [*], a Series of Arrived Homes, LLC through its Authorized Agent, Blue Canopy Realty LLC
6.48*   Purchase and Sale Agreement dated August 30, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Amber Property
6.49*   Purchase and Sale Agreement dated June 4, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Bayside Property
6.49.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Bayside dated June 22, 2021 for Series Bayside Property
6.50*   Purchase and Sale Agreement dated June 8, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Coatbridge Property
6.50.1*   Addendum to Purchase and Sale Agreement dated June 8, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Coatbridge Property
6.51*   Purchase and Sale Agreement dated July 19, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Collinston Property
6.52*   Purchase and Sale Agreement dated June 4, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Dawson Property
6.53*   Purchase and Sale Agreement dated June 9, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Elevation Property
6.53.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Elevation dated July 15, 2021 for Series Elevation Property
6.54*   Purchase and Sale Agreement dated May 20, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Elm Property
6.54.1*   Addendum to Purchase and Sale Agreement dated May 20, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Elm Property
6.55*   Purchase and Sale Agreement dated June 9, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Forest Property
6.55.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Forest dated July 15, 2021 for Series Forest Property
6.56*   Purchase and Sale Agreement dated June 12, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Holland Property
6.57*   Purchase and Sale Agreement dated June 8, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Jupiter Property
6.58*   Purchase and Sale Agreement dated June 9, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Lennox Property
6.58.1*   Addendum to Purchase and Sale Agreement dated June 9, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Lennox Property
6.59*   Purchase and Sale Agreement dated August 30, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Lily Property
6.60*   Purchase and Sale Agreement dated June 13, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Limestone Property
6.60.1*   Addendum to Purchase and Sale Agreement dated June 13, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Limestone Property
6.60.2*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Limestone dated August 5, 2021 for Series Limestone Property
6.61*   Purchase and Sale Agreement dated August 22, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Meadow Property
6.62*   Purchase and Sale Agreement dated August 30, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Odessa Property
6.62.1*   Counteroffer to Offer Dated September 1, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Odessa Property
6.63*   Purchase and Sale Agreement dated June 10, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Olive Property
6.63.1*   Addendum to Purchase and Sale Agreement dated June 10, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Olive Property
6.64*   Purchase and Sale Agreement dated June 9, 2021 between Ar rived Holdings, Inc./Assignee and Seller for Series Ridge Property 
6.64.1*   Addendum to Purchase and Sale Agreement dated June 9, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Ridge Property
6.65*   Purchase and Sale Agreement dated June 7, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series River Property
6.66*   Purchase and Sale Agreement dated August 30, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Saddlebred Property
6.66.1*   Counteroffer to Offer Dated September 7, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Saddlebred Property
6.67*   Purchase and Sale Agreement dated July 29, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Saturn Property
6.68*   Purchase and Sale Agreement dated June 11, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Sugar Property
6.68.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Sugar dated June 17, 2021 for Series Sugar Property
6.69*   Purchase and Sale Agreement dated June 12, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Weldon Property
6.70*   Purchase and Sale Agreement dated June 4, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Westchester Property
6.70.1*   Addendum to Purchase and Sale Agreement dated June 4, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Westchester Property

 

68

 

 

6.71*   Form of Lease Agreement between Tenant and Arrived Homes Series [*], a Series of Arrived Homes, LLC holding a series property located in North Carolina through its Authorized Agent, Great Jones North Carolina, LLC
6.72*   Form of Lease Agreement between Tenant and Arrived Homes Series [*], a Series of Arrived Homes, LLC holding a series property located in South Carolina through its Authorized Agent, Great Jones South Carolina, LLC
6.73*   Form of Mortgage Agreement between Arrived Homes Series [*], a Series of Arrived Homes, LLC and Certain Lending, Inc. for series property in the state of South Carolina
6.74*   Form of Deed of Trust Agreement between Arrived Homes Series [*], a Series of Arrived Homes, LLC and Certain Lending, Inc. for series property in the state of North Carolina
6.75*   Form of Deed of Trust Agreement between Arrived Homes Series [*], a Series of Arrived Homes, LLC and Certain Lending, Inc. for series property in the state of Colorado
6.76*   Purchase and Sale Agreement dated September 8, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Bandelier Property
6.76.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Bandelier dated September 29, 2021 for Series Bandelier Property
6.76.2*   Addendum to Purchase and Sale Agreement dated September 8, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Bandelier Property
6.77*   Purchase and Sale Agreement dated June 13, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Butter Property
6.77.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Butter dated September 7, 2021 for Series Butter Property
6.78*   Purchase and Sale Agreement dated June 12, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Davidson Property
6.79*   Purchase and Sale Agreement dated November 18, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Diablo Property
6.79.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Diablo dated December 1, 2021 for Series Diablo Property
6.79.2*   Addendum to Purchase and Sale Agreement dated November 19, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Diablo Property
6.79.3*   Counteroffer to Offer dated November 19, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Diablo Property
6.80*   Purchase and Sale Agreement dated June 6, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Dolittle Property
6.81*   Purchase and Sale Agreement dated September 22, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Ensenada Property
6.81.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Ensenada dated September 23, 2021 for Series Ensenada Property
6.81.2*   Counteroffer to Offer dated September 23, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Ensenada Property
6.82*   Purchase and Sale Agreement dated September 26, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Grant Property
6.82.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Ensenada dated October 12, 2021 for Series Grant Property
6.82.2*   Addendum to Purchase and Sale Agreement dated October 13, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Grant Property
6.83*   Purchase and Sale Agreement dated September 26, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Kerriann Property
6.83.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Ensenada dated October 20, 2021 for Series Kerriann Property
6.83.2*   Addendum to Purchase and Sale Agreement dated September 26, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Kerriann Property
6.84*   Purchase and Sale Agreement dated May 25, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Matchingham Property
6.84.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Matchingham dated September 17, 2021 for Series Matchingham Property
6.85*   Purchase and Sale Agreement dated November 6, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series McLovin Property
6.85.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series McLovin dated November 19, 2021 for Series McLovin Property
6.85.2*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series McLovin dated November 29, 2021 for Series McLovin Property
6.85.3*   Addendum to Purchase and Sale Agreement dated November 24, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series McLovin Property
6.86*   Purchase and Sale Agreement dated May 21, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Murphy Property
6.87*   Purchase and Sale Agreement dated October 28, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Oly Property
6.87.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Oly dated November 10, 2021 for Series Oly Property
6.88*   Purchase and Sale Agreement dated September 18, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Ribbonwalk Property
6.88.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Ribbonwalk dated September 18, 2021 for Series Ribbonwalk Property
6.89*   Purchase and Sale Agreement dated September 3, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Rooney Property
6.89.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Rooney dated October 2, 2021 for Series Rooney Property
6.90*   Purchase and Sale Agreement dated September 18, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Scepter Property
6.90.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Scepter dated September 29, 2021 for Series Scepter Property
6.91*   Purchase and Sale Agreement dated November 17, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Sigma Property
6.91.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Sigma dated November 24, 2021 for Series Sigma Property
6.91.2*   Addendum to Purchase and Sale Agreement dated December 3, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Sigma Property
6.91.3*   Addendum to Purchase and Sale Agreement dated November 24, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Sigma Property

 

69

 

 

6.92*   Purchase and Sale Agreement dated June 6, 2021 between Arrived Holdings, Inc._Assignee and Seller for Series Vernon Property
6.92.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Vernon dated July 15, 2021 for Series Vernon Property
6.92.2*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Vernon dated August 31, 2021 for Series Vernon Property
6.93*   Transfer Agent Agreement dated November 30, 2020, between Arrived Homes, LLC and Colonial Stock Transfer Company, Inc. 
6.94*   Purchase and Sale Agreement dated December 24, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Delta Property
6.94.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Delta dated December 31, 2021 for Series Delta Property
6.94.2*   Addendum to Purchase and Sale Agreement dated January 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Delta Property
6.95*   Purchase and Sale Agreement dated January 6, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Emporia Property
6.95.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Emporia dated January 11, 2022 for Series Emporia Property
6.96*   Purchase and Sale Agreement dated June 7, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Greenhill Property
6.96.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Greenhill dated January 4, 2022 for Series Greenhill Property
6.97*   Purchase and Sale Agreement dated January 5, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Kawana Property
6.97.1*   Counteroffer to Offer Dated January 11, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Kawana Property
6.98*   Purchase and Sale Agreement dated January 5, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Lovejoy Property
6.98.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Lovejoy dated January 11, 2022 for Series Lovejoy Property
6.99*   Purchase and Sale Agreement dated December 16, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Saint Property
6.99.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Saint dated December 22, 2021 for Series Saint Property
6.100*   Purchase and Sale Agreement dated January 13, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Tuxford Property
6.101*   Purchase and Sale Agreement dated December 27, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Wave Property
6.101.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Saint dated December 31, 2021 for Series Wave Property
6.102*   Form of Property Management Agreement dated December 30, 2021, between Marketplace Homes and Arrived Homes Series [*], a series of Arrived Homes, LLC
6.103*   Purchase and Sale Agreement dated January 20, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Avebury Property
6.103.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Avebury dated February 4, 2022 for Series Avebury Property
6.103.2*   Addendum to Purchase and Sale Agreement dated January 20, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Avebury Property
6.104*   Purchase and Sale Agreement dated January 26, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Chelsea Property
6.104.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Chelsea dated February 7, 2022 for Series Chelsea Property
6.105*   Purchase and Sale Agreement dated December 24, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Hadden Property
6.105.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Hadden dated January 3, 2022 for Series Hadden Property
6.105.2*   Addendum to Purchase and Sale Agreement dated January 24, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Hadden Property
6.106*   Purchase and Sale Agreement dated January 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Hollandaise Property
6.106.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Hollandaise dated January 20, 2022 for Series Hollandaise Property
6.106.2*   Counteroffer to Offer dated January 13, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Hollandaise Property
6.107*   Purchase and Sale Agreement dated January 25, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Otoro Property
6.107.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Otoro dated February 4, 2022 for Series Otoro Property
6.108*   Purchase and Sale Agreement dated January 14, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Terracotta Property
6.108.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Terracotta dated January 21, 2022 for Series Terracotta Property
6.109*   Purchase and Sale Agreement dated December 22, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Bedford Property
6.109.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Bedford dated January 3, 2022 for Series Bedford Property
6.109.2*   Addendum to Purchase and Sale Agreement dated February 1, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Bedford Property
6.110*   Purchase and Sale Agreement dated December 22, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Gardens Property
6.110.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Gardens dated March 11, 2022 for Series Gardens Property
6.111*   Purchase and Sale Agreement dated Janaury 21, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Jack Property
6.111.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Jack dated March 18, 2022 for Series Jack Property
6.112*   Purchase and Sale Agreement dated February 24, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Louise Property
6.112.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Louise dated March 11, 2022 for Series Louise Property
6.113*   Purchase and Sale Agreement dated March 1, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Peanut Property

 

70

 

 

6.113.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Peanut dated March 11, 2022 for Series Peanut Property
6.114*   Purchase and Sale Agreement dated March 1, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Tulip Property
6.114.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Tulip dated March 11, 2022 for Series Tulip Property
6.115*   Purchase and Sale Agreement dated April 11, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series 100 Property
6.115.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series 100 dated April 12, 2022 for Series 100 Property
6.116*   Purchase and Sale Agreement dated March 7, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Grove Property
6.116.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Grove dated March 11, 2022 for Series Grove Property
6.117.*   Purchase and Sale Agreement dated March 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Heritage Property
6.117.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Heritage dated March 21, 2022 for Series Heritage Property
6.118*   Purchase and Sale Agreement dated March 21, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Heron Property
6.118.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Heron dated March 23, 2022 for Series Heron Property
6.119*   Purchase and Sale Agreement dated March 23, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Kirkwood Property
6.119.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Kirkwood dated March 23, 2022 for Series Kirkwood Property
6.120*   Purchase and Sale Agreement dated March 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Lanier Property
6.120.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Lanier dated March 21, 2022 for Series Lanier Property
6.121*   Purchase and Sale Agreement dated April 4, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Magnolia Property
6.121.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Magnolia dated April 5, 2022 for Series Magnolia Property
6.122*   Purchase and Sale Agreement dated March 12, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Mammoth Property
6.122.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Mammoth dated March 14, 2022 for Series Mammoth Property
6.123*   Purchase and Sale Agreement dated March 25, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series McGregor Property
6.123.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series McGregor dated April 12, 2022 for Series McGregor Property
6.123.2*   Counteroffer to Offer dated March 25, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series McGregor Property
6.124*   Purchase and Sale Agreement dated March 8, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Point Property
6.124.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Point dated March 22, 2022 for Series Point Property
6.124.2*   Counteroffer to Offer dated March 9, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Point Property
6.124.3*   Addendum to Purchase and Sale Agreement dated March 22, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Point Property
6.125*   Purchase and Sale Agreement dated March 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Rosewood Property
6.125.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Rosewood dated March 15, 2022 for Series Rosewood Property
6.126*   Purchase and Sale Agreement dated March 15, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Roxy Property
6.126.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Roxy dated March 16, 2022 for Series Roxy Property
6.126.2*   Counteroffer to Offer dated March 16, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Roxy Property
6.127*   Purchase and Sale Agreement dated March 22, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Stonebriar Property
6.127.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Stonebriar dated March 23, 2022 for Series Stonebriar Property
6.127.2*   Addendum to Purchase and Sale Agreement dated April 6, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Stonebriar Property
6.128*   Purchase and Sale Agreement dated February 3, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Wisteria Property
6.128.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Wisteria dated March 11, 2022 for Series Wisteria Property
6.129*   Purchase and Sale Agreement dated April 11, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Apollo Property
6.129.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Apollo dated April 14, 2022 for Series Apollo Property
6.130*   Purchase and Sale Agreement dated April 25, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Baron Property
6.131*   Purchase and Sale Agreement dated March 29, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Madison Property
6.131.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Madison dated March 30, 2022 for Series Madison Property
6.132*   Purchase and Sale Agreement dated April 14, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Swift Property
6.132.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Swift dated April 13, 2022 for Series Swift Property
6.133*   Purchase and Sale Agreement dated April 15, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Wescott Property
6.133.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Wescott dated April 18, 2022 for Series Wescott Property
6.134*   Purchase and Sale Agreement dated March 23, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Wildwood Property

 

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6.134.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Wildwood dated April 13, 2022 for Series Wildwood Property
6.135*   Purchase and Sale Agreement dated May 3, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Abbington Property
6.135.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Abbington dated May 4, 2022 for Series Abbington Property
6.136*   Purchase and Sale Agreement dated April 29, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Burlington Property
6.137*   Purchase and Sale Agreement dated April 29, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Lannister Property
6.137.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Lannister dated May 2, 2022 for Series Lannister Property
6.138*   Purchase and Sale Agreement dated April 22, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Nugget Property
6.138.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Nugget dated April 28, 2022 for Series Nugget Property
6.138.2*   Counteroffer to Offer dated April 22, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Nugget Property
6.139*   Purchase and Sale Agreement dated April 29, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Pearl Property
6.139.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Pearl dated May 2, 2022 for Series Pearl Property
6.140*   Purchase and Sale Agreement dated May 7, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series 101 Property
6.140.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series 101 dated May 10, 2022 for Series 101 Property
6.140.2*   Addendum to Purchase and Sale Agreement dated May 7, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series 101 Property
6.140.3*   Counteroffer to Offer dated May 5, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series 101 Property
6.141*   Purchase and Sale Agreement dated May 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Hines Property
6.141.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Hines dated May 18, 2022 for Series Hines Property
6.141.2*   Addendum to Purchase and Sale Agreement dated May 16, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Hines Property
6.142*   Purchase and Sale Agreement dated May 9, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Holcomb Property
6.142.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Holcomb dated May 11, 2022 for Series Holcomb Property
6.143*   Purchase and Sale Agreement dated May 7, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Jake Property
6.143.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Jake dated May 10, 2022 for Series Jake Property
6.144*   Purchase and Sale Agreement dated May 15, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Latte Property
6.144.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Latte dated May 17, 2022 for Series Latte Property
6.145*   Purchase and Sale Agreement dated May 9, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Ritter Property
6.145.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Ritter dated May 20, 2022 for Series Ritter Property
6.146*   Purchase and Sale Agreement dated May 13, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Bazzel Property
6.146.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Bazzel dated May 12, 2022 for Series Bazzel Property
6.146.2*   Addendum to Purchase and Sale Agreement dated May 11, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Bazzel Property
6.147*   Purchase and Sale Agreement dated May 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Dunbar Property
6.147.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Dunbar dated May 19, 2022 for Series Dunbar Property
6.147.2*   Addendum to Purchase and Sale Agreement dated May 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Dunbar Property
6.148*   Purchase and Sale Agreement dated May 8, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Johnny Property
6.148.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Johnny dated May 10, 2022 for Series Johnny Property
6.149*   Purchase and Sale Agreement dated May 8, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series June Property
6.149.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series June dated May 10, 2022 for Series June Property
6.150*   Purchase and Sale Agreement dated May 13, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Kennesaw Property
6.150.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Kennesaw dated May 17, 2022 for Series Kennesaw Property
6.151*   Purchase and Sale Agreement dated May 19, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Lookout Property
6.151.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Lookout dated May 19, 2022 for Series Lookout Property
6.152*   Purchase and Sale Agreement dated April 13, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Osprey Property
6.152.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Osprey dated April 14, 2022 for Series Osprey Property
6.153*   Purchase and Sale Agreement dated May 14, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Pioneer Property
6.153.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Pioneer dated May 14, 2022 for Series Pioneer Property
6.153.2*   Counteroffer to Offer dated May 14, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Pioneer Property
6.154*   Purchase and Sale Agreement dated May 16, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Reynolds Property

 

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6.154.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Reynolds dated May 18, 2022 for Series Reynolds Property
6.155*   Purchase and Sale Agreement dated May 31, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Clover Property
6.155.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Clover dated May 24, 2022 for Series Clover Property
6.155.2*   Addendum to Purchase and Sale Agreement dated May 31, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Clover Property
6.155.3*   Counteroffer to Offer dated May 31, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Clover Property
6.156*   Purchase and Sale Agreement dated May 31, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Collier Property
6.156.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Collier dated June 7, 2022 for Series Collier Property
6.157*   Purchase and Sale Agreement dated May 25, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Dogwood Property
6.157.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Dogwood dated May 27, 2022 for Series Dogwood Property
6.157.2*   Counteroffer to Offer dated May 25, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Dogwood Property
6.158*   Purchase and Sale Agreement dated May 31, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Dorchester Property
6.158.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Dorchester dated May 31, 2022 for Series Dorchester Property
6.159*   Purchase and Sale Agreement dated May 31, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Folly Property
6.159.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Folly dated May 31, 2022 for Series Folly Property
6.160*   Purchase and Sale Agreement dated May 25, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Riverwalk Property
6.160.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Riverwalk dated June 1, 2022 for Series Riverwalk Property
6.161*   Purchase and Sale Agreement dated May 30, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Walton Property
6.161.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Walton dated June 1, 2022 for Series Walton Property
6.161.2*   Counteroffer to Offer dated May 19, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Walton Property
6.162*   Purchase and Sale Agreement dated May 25, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Belle Property
6.162.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Belle dated May 27, 2022 for Series Belle Property
6.162.2*   Addendum to Purchase and Sale Agreement dated May 25, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Belle Property
6.163*   Purchase and Sale Agreement dated May 21, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Chitwood Property
6.163.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Chitwood dated May 26, 2022 for Series Chitwood Property
6.164*   Purchase and Sale Agreement dated May 31, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Conway Property
6.164.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Conway dated May 31, 2022 for Series Conway Property
6.164.2*   Addendum to Purchase and Sale Agreement dated May 26, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Conway Property
6.165*   Purchase and Sale Agreement dated June 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Creekside Property
6.165.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Creekside dated June 9, 2022 for Series Creekside Property
6.165.2*   Counteroffer to Offer dated June 9, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Creekside Property
6.166*   Purchase and Sale Agreement dated June 2, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Daisy Property
6.166.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Daisy dated June 7, 2022 for Series Daisy Property
6.167*   Purchase and Sale Agreement dated June 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Dolly Property
6.167.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Dolly dated June 13, 2022 for Series Dolly Property
6.168*   Purchase and Sale Agreement dated June 1, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Henry Property
6.168.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Henry dated June 6, 2022 for Series Henry Property
6.169*   Purchase and Sale Agreement dated February 21, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Highland Property
6.169.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Highland dated June 20, 2022 for Series Highland Property
6.169.2*   Addendum to Purchase and Sale Agreement dated March 21, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Highland Property
6.170*   Purchase and Sale Agreement dated June 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Kenny Property
6.170.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Kenny dated June 13, 2022 for Series Kenny Property
6.171*   Purchase and Sale Agreement dated May 31, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Loretta Property
6.171.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Loretta dated May 31, 2022 for Series Loretta Property
6.172*   Purchase and Sale Agreement dated May 27, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Sodalis Property
6.172.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Sodalis dated June 24, 2022 for Series Sodalis Property
6.173*   Purchase and Sale Agreement dated May 20, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Spring Property

 

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6.173.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Spring dated May 19, 2022 or Series Spring Property
6.174*   Purchase and Sale Agreement dated June 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Willow Property
6.174.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Willow dated June 28, 2022 for Series Willow Property
6.175*   Purchase and Sale Agreement dated June 7, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Wilson Property
6.175.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Wilson dated June 16, 2022 for Series Wilson Property
6.176*   Purchase and Sale Agreement dated May 19, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Blossom Property
6.176.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Blossom dated June 16, 2022 for Series Blossom Property
6.176.2*   Addendum to Purchase and Sale Agreement dated May 20, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Blossom Property
6.177*   Purchase and Sale Agreement dated June 2, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Bonneau Property
6.177.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Bonneau dated June 16, 2022 for Series Bonneau Property
6.178*   Purchase and Sale Agreement dated June 12, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Braxton Property
6.178.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Braxton dated June 27, 2022 for Series Braxton Property
6.178.2*   Addendum to Purchase and Sale Agreement dated June 14, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Braxton Property
6.179*   Purchase and Sale Agreement dated June 17, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Camino Property
6.179.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Camino dated June 21, 2022 for Series Camino Property
6.179.2*   Addendum to Purchase and Sale Agreement dated June 22, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Camino Property
6.180*   Purchase and Sale Agreement dated June 6, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Cumberland Property
6.180.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Cumberland dated June 7, 2022 for Series Cumberland Property
6.180.2*   Addendum to Purchase and Sale Agreement dated June 6, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Cumberland Property
6.181*   Purchase and Sale Agreement dated June 17, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Inglewood Property
6.181.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Inglewood dated June 21, 2022 for Series Inglewood Property
6.181.2*   Addendum to Purchase and Sale Agreement dated June 16, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Inglewood Property
6.181.3*   Counteroffer to Offer dated June 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Inglewood Property
6.182*   Purchase and Sale Agreement dated June 17, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Reginald Property
6.182.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Reginald dated June 21, 2022 for Series Reginald Property
6.182.2*   Addendum to Purchase and Sale Agreement dated June 16, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Reginald Property
6.183*   Purchase and Sale Agreement dated June 11, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Richardson Property
6.183.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Richardson dated June 16, 2022 for Series Richardson Property
6.183.2*   Addendum to Purchase and Sale Agreement dated June 16, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Richardson Property
6.183.3*   Counteroffer to Offer dated June 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Richardson Property
6.184*   Purchase and Sale Agreement dated June 16, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Wellington Property
6.184.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Wellington dated June 21, 2022 for Series Wellington Property
6.184.2*   Addendum to Purchase and Sale Agreement dated June 17, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Wellington Property
6.185*   Purchase and Sale Agreement dated June 16, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Winston Property
6.185.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Winston dated June 21, 2022 for Series Winston Property
6.185.2*   Addendum to Purchase and Sale Agreement dated June 17, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Winston Property
6.186*   Purchase and Sale Agreement dated June 11, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Aster Property
6.186.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Aster dated June 28, 2022 for Series Aster Property
6.187*   Purchase and Sale Agreement dated May 11, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Jill Property
6.188*   Purchase and Sale Agreement dated June 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Marcelo Property
6.188.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Marcelo dated June 28, 2022 for Series Marcelo Property
6.189*   Purchase and Sale Agreement dated December 23, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Marietta Property
6.189.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Marietta dated June 28, 2022 for Series Marietta Property
6.190*   Purchase and Sale Agreement dated June 3, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Quincy Property
6.190.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Quincy dated June 5, 2022 for Series Quincy Property
6.191*   Purchase and Sale Agreement dated June 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Taylor Property

 

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6.191.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Taylor dated June 28, 2022 for Series Taylor Property
6.191.2*   Addendum to Purchase and Sale Agreement dated June 14, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Taylor Property
6.192*   Purchase and Sale Agreement dated June 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Chester Property
6.192.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Chester dated June 21, 2022 for Series Chester Property
6.192.2*   Addendum to Purchase and Sale Agreement dated June 16, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Chester Property
6.193*   Purchase and Sale Agreement dated June 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Creekwood Property
6.193.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Creekwood dated June 23, 2022 for Series Creekwood Property
6.193.2*   Addendum to Purchase and Sale Agreement dated June 14, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Creekwood Property
6.194*   Purchase and Sale Agreement dated June 20, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Cypress Property
6.194.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Cypress dated June 22, 2022 for Series Cypress Property
6.195*   Purchase and Sale Agreement dated June 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Harrison Property
6.195.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Harrison dated June 22, 2022 for Series Harrison Property
6.195.2*   Addendum to Purchase and Sale Agreement dated June 14, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Harrison Property
6.196*   Purchase and Sale Agreement dated June 3, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Kessler Property
6.196.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Kessler dated June 16, 2022 for Series Kessler Property
6.197*   Purchase and Sale Agreement dated March 3, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Mae Property
6.197.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Mae dated June 20, 2022 for Series Mae Property
6.198*   Purchase and Sale Agreement dated June 17, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Piedmont Property
6.198.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Piedmont dated June 22, 2022 for Series Piedmont Property
6.199*   Purchase and Sale Agreement dated June 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Shallowford Property
6.199.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Shallowford dated June 23, 2022 for Series Shallowford Property
6.199.2*   Addendum to Purchase and Sale Agreement dated June 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Shallowford Property
6.200*   Purchase and Sale Agreement dated March 29, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Eagle Property
6.200.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Eagle dated March 29, 2021 for Series Eagle Property
6.200.2*   Counteroffer to Offer dated March 29, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Eagle Property
6.201*   Purchase and Sale Agreement dated March 29, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Goose Property
6.201.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Goose dated March 29, 2021 for Series Goose Property
6.201.2*   Counteroffer to Offer dated March 29, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Goose Property
6.202*   Purchase and Sale Agreement dated March 29, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Falcon Property
6.202.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Falcon dated March 29, 2021 for Series Falcon Property
6.202.2*   Counteroffer to Offer dated March 29, 2021 between Arrived Holdings, Inc./Assignee and Seller for Series Falcon Property
6.203*   Purchase and Sale Agreement dated May 26, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Hansel Property
6.203.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Hanseel dated July 20, 2022 for Series Hansel Property
6.204*   Purchase and Sale Agreement dated May 26, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Gretal Property
6.204.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Gretal dated July 20, 2022 for Series Gretal Property
6.204.2*   Addendum to Purchase and Sale Agreement dated September 7, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Gretal Property
6.205*   Purchase and Sale Agreement dated September 2, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Mimosa Property
6.205.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Mimosa dated September 2, 2022 for Series Mimosa Property
6.205.2*   Addendum to Purchase and Sale Agreement dated September 2, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Mimosa Property
6.206*   Purchase and Sale Agreement dated September 16, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Redondo Property
6.206.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Redondo dated September 19, 2022 for Series Redondo Property
6.207*   Purchase and Sale Agreement dated September 15, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Sundance Property
6.207.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Sundance dated September 19, 2022 for Series Sundance Property
6.208*   Purchase and Sale Agreement  dated October 21, 2022 between Arrived Holdings,Inc./Assignee and Seller for Series Brainerd Property
6.208.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Brainerd dated  October 24, 2022 for Series Brainerd Property.
6.208.2*   Counteroffer to Offer dated October 22, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Brainerd Property.

 

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6.208.3*   Counteroffer to Offer dated October 22, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Brainerd Property
6.209*   Purchase and Sale Agreement  dated October  19, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Brooklyn Property
6.209.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Brooklyn dated October24,2022 for Series Brooklyn Property
6.209.2*   Addendum to Purchase and Sale Agreement dated October 19, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Brooklyn Property
6.210*   Purchase and Sale Agreement  dated October 24,2022 between Arrived Holdings, Inc./Assignee and Seller for Series Chickamauga Property
6.210.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Chickamauga dated October24, 2022 for Series Chickamauga Property
6.210.2*   Addendum to Purchase and Sale Agreement Agreement dated October 21, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Chickamauga Property
6.211*   Purchase and Sale Agreement  dated October 21, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Litton Property
6.211.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Litton dated October24, 2022 for Series Litton Property
6.212*   Purchase and Sale Agreement  dated October 21, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Sequoyah Property
6.213*   Purchase and Sale Agreement dated November 8, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Lurleen Property
6.213.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Lurleen dated December 1, 2022 for Series Lurleen Property
6.214*   Purchase and Sale Agreement dated November 28, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Regency Property
6.214.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Regency dated December 1, 2022 for Series Regency Property
6.215*   Purchase and Sale Agreement dated November 17, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Dops Property
6.215.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Dops dated November 29,2022 for Series Dops Property
6.215.1*   Addendum to Purchase and Sale Agreement Agreement dated November 22, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Dops Property
6.216*   Purchase and Sale Agreement dated November 3, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Korin Property
6.216.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Korin dated November 8, 2022 for Series Korin Property
6.217*   Purchase and Sale Agreement dated November 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Sunnyside Property
6.217.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Sunnyside dated November 29, 2022 for Series Sunnyside Property
6.218*   Purchase and Sale Agreement dated April 11, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Brennan Property
6.218.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Brennan dated April 8, 2022 for Series Brennan Property
6.219*   Purchase and Sale Agreement dated January 6, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ella Property
6.219.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Ella dated January 10, 2023 for Series Ella Property
6.219.2*   Counteroffer to Offer dated January 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ella Property
6.220*   Purchase and Sale Agreement dated December 9, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Hansard Property
6.220.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Hansard dated November 29, 2022 for Series Hansard Property
6.221*   Purchase and Sale Agreement dated December 9, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Jefferson Property
6.221.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Jefferson dated December 9, 2022 for Series Jefferson Property
6.222*   Purchase and Sale Agreement dated December 9, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Marie Property
6.222.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Marie dated December 9, 2022 for Series Marie Property
6.223*   Purchase and Sale Agreement dated December 8, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Sajni Property
6.223.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Sajni dated December 15, 2022 for Series Sajni Property
6.223.2*   Counteroffer to Offer dated December 8, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Sajni Property
6.224*   Purchase and Sale Agreement dated November 17, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Salinas Property
6.224.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Salinas dated November 29, 2022 for Series Salinas Property
6.224.2*   Counteroffer to Offer dated October 22, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Salinas Property
6.225*   Purchase and Sale Agreement dated November 17, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Tuscarora Property
6.225.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Tuscarora dated November 29, 2022 for Series Tuscarora Property
6.226*   Purchase and Sale Agreement dated April 23,202 between Arrived Holdings, Inc./Assignee and Seller for Series Avondale Property
6.226.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Avondale dated May 3,2023 for Series Avondale Property
6.226.2*   Addendum to Purchase and Sale Agreement Agreement dated April 23, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Avondale Property
6.227*   Purchase and Sale Agreement dated April 23,202 between Arrived Holdings, Inc./Assignee and Seller for Series Belvedere Property
6.227.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Belvedere dated April 21,2023 for Series Belvedere Property
6.228*   Purchase and Sale Agreement dated December 6,2022 between Arrived Holdings, Inc./Assignee and Seller for Series Cove Property
6.228.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Cove dated December 8,2022 for Series Cove Property
6.229*   [Reserved.]
6.229.1*   [Reserved.]
6.230*   Purchase and Sale Agreement dated April 13,202 between Arrived Holdings, Inc./Assignee and Seller for Series Martell Property

 

 

76

 

 

6.230.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Martell dated April 27,2023 for Series Martell Property
6.230.2*   Counteroffer to Offer dated April 14, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Martell Property
6.231*   Purchase and Sale Agreement dated April 29, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Fenwick Property
6.231.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Fenwick dated May 8,2023 for Series Fenwick Property
6.231.2*   Addendum to Purchase and Sale Agreement Agreement dated May 5, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Fenwick Property
6.232*   Purchase and Sale Agreement dated April 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Longwoods Property
6.232.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Longwoods dated May 5,2023 for Series Longwoods Property
6.232.2*   Counteroffer to Offer dated April 26, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Longwoods Property
6.233*   Purchase and Sale Agreement dated April 29, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Louis Property
6.233.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Louis dated May 8,2023 for Series Louis Property
6.234*   Purchase and Sale Agreement dated April 27, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Mycroft Property
6.234.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Mycroft dated April 13,2023 for Series Mycroft Property
6.235*   Purchase and Sale Agreement dated April 27, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Osceola Property
6.235.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Osceola dated May 4,2023 for Series Osceola Property
6.235.2*   Addendum to Purchase and Sale Agreement Agreement dated April 27, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Osceola Property
6.236*   Purchase and Sale Agreement dated May 4, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Sims Property
6.236.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Sims dated May 17,2023 for Series Sims Property
6.236.2*   Addendum to Purchase and Sale Agreement Agreement dated May 1, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Sims Property
6.236.3*   Counteroffer to Offer dated April 26, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Sims Property
6.237*   Purchase and Sale Agreement dated May 9, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Augusta Property
6.237.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Augusta dated May 11,2023 for Series Augusta Property
6.238*   Purchase and Sale Agreement dated April 28, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bella Property
6.238.18   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Bella dated May 15,2023 for Series Bella Property
6.239*   Purchase and Sale Agreement dated May 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Cawley Property
6.239.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Cawley dated May 24,2023 for Series Cawley Property
6.240*   Purchase and Sale Agreement dated May 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Foster Property
6.240.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Foster dated May 30,2023 for Series Foster Property
6.241*   Purchase and Sale Agreement dated May 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Franklin Property
6.241.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Franklin dated May 30,2023 for Series Franklin Property
6.241.2*   Counteroffer to Offer dated May 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Franklin Property
6.242*   Purchase and Sale Agreement dated May 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series General Property
6.242.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series General dated May 30,2023 for Series General Property
6.243*   Purchase and Sale Agreement dated May 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Marion Property
6.243.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Marion dated May 22,2023 for Series Marion Property
6.243.2*   Counteroffer to Offer dated April 14, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Marion Property
6.244*   Purchase and Sale Agreement dated April 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Marple Property
6.244.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Marple dated April 27,2023 for Series Marple Property
6.245*   Purchase and Sale Agreement dated April 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Mary Property
6.245.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Mary dated May 22,2023 for Series Mary Property
6.246*   Purchase and Sale Agreement dated May 4, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Onyx Property
6.246.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Onyx dated May 22,2023 for Series Onyx Property
6.247*   Purchase and Sale Agreement dated May 20, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Palmer Property
6.247.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Palmer dated May 24,2023 for Series Palmer Property
6.248*   Purchase and Sale Agreement dated May 20, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Porthos Property
6.248.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Porthos dated May 24,2023 for Series Porthos Property
6.248.2*   Addendum to Purchase and Sale Agreement Agreement dated April 26, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Porthos Property

 

77

 

 

6.248.3*   Counteroffer to Offer dated April 26, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Porthos Property
6.249*   Purchase and Sale Agreement dated May 18, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Simon Property
6.249.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Simon dated May 24,2023 for Series Simon Property
6.250*   Purchase and Sale Agreement dated May 18, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Theodore Property
6.250.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Theodore dated May 24,2023 for Series Theodore Property
6.251*   Purchase and Sale Agreement dated April 7, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bergenia Property
6.251.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Bergenia dated July 5, 2023 for Series Bergenia Property
6.252*   Purchase and Sale Agreement dated May 5, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Chinook Property
6.252.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Chinook dated May 23, 2023 for Series Chinook Property
6.252.2*   Addendum to Purchase and Sale Agreement Agreement dated May 2, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Chinook Property
6.252.3*   Counteroffer to Offer dated May 5, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Chinook Property
6.253*   Purchase and Sale Agreement dated May 5, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ellen Property
6.253.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Ellen dated May 24, 2023 for Series Ellen Property
6.253.2*   Addendum to Purchase and Sale Agreement Agreement dated May 2, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ellen Property
6.254*   Purchase and Sale Agreement dated May 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Felix Property
6.254.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Felix dated May 24, 2023 for Series Felix Property
6.255*   Purchase and Sale Agreement dated May 4, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Oscar Property
6.255.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Oscar dated May 24, 2023 for Series Oscar Property
6.256*   Purchase and Sale Agreement dated March 30, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Abernant Property
6.256.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Abernant dated July 24, 2023 for Series Abernant Property
6.257*   Purchase and Sale Agreement dated June 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Alvin Property
6.257.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Alvin dated July 25, 2023 for Series Alvin Property
6.258*   Purchase and Sale Agreement dated June 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ballinger Property
6.258.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Ballinger dated July 25, 2023 for Series Ballinger Property
6.259*   Purchase and Sale Agreement dated March 29, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Briarwood Property
6.259.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Briarwood dated July 5, 2023 for Series Briarwood Property
6.260*   Purchase and Sale Agreement dated April18, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Calvin Property
6.260.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Calvin dated July 20, 2023 for Series Calvin Property
6.260.2*   Addendum to Purchase and Sale Agreement Agreement dated April 17, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Calvin Property
6.261*   Purchase and Sale Agreement dated June 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Eastwood Property
6.261.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Eastwood dated July 25], 2023 for Series Eastwood Property
6.262*   Purchase and Sale Agreement dated April 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Fletcher Property
6.262.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Fletcher dated July 5, 2023 for Series Fletcher Property
6.263*   Purchase and Sale Agreement dated April 18, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hargrave Property
6.263.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Hargrave dated July 20, 2023 for Series Hargrave Property
6.263.2*   Addendum to Purchase and Sale Agreement Agreement dated April 17, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hargrave Property
6.264*   Purchase and Sale Agreement dated April 18, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hobbes Property
6.264.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Hobbes dated July 20, 2023 for Series Hobbes Property
6.264.2*   Addendum to Purchase and Sale Agreement Agreement dated April 17, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hobbes Property
6.265*   Purchase and Sale Agreement dated April 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Irene Property
6.265.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Irene dated July 5, 2023 for Series Irene Property
6.266*   Purchase and Sale Agreement dated March 27, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Peterson Property
6.266.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Peterson dated July 24, 2023 for Series Peterson Property
6.267*   Purchase and Sale Agreement dated May 9, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Richmond Property
6.267.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Richmond dated July 20, 2023 for Series Richmond Property
6.268*   Purchase and Sale Agreement dated May 18, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Winchester Property
6.268.1*   Assignment of Contract from Arrived Holdings, Inc. to Arrived Homes Series Winchester dated July 5, 2023 for Series Winchester Property
6.268.2*   Addendum to Purchase and Sale Agreement Agreement dated April 17, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Winchester Property
6.269*   Form of Property Management Agreement dated [*], between Mynd Property Management and Arrived Homes Series [*], a series of Arrived Homes, LLC
8.1*   Form of Escrow Agreement dated [*], 202[*], by and among North Capital Private Securities Corporation, Arrived Holdings, Inc. and Arrived Homes Series [*] LLC, a series of Arrived Homes, LLC (incorporated by reference to Exhibit 8.1 to the Form 1-A filed on January 12, 2021)

 

* Previously Filed

 

78

 

 

SIGNATURES

 

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

  

  ARRIVED HOMES, LLC
     
  By: Arrived Fund Manager, LLC, its managing member
     
  By: /s/ Ryan Frazier
    Name:    Ryan Frazier
    Title: Chief Executive Officer
    Date: April 30, 2025

 

Pursuant to the requirements of Regulation A, this report has been signed by the following persons on behalf of the issuer and in the capacities and on the dates indicated.

 

SIGNATURE   TITLE   DATE
         
/s/ Ryan Frazier   Chief Executive Officer of Arrived Holdings, Inc.   April 30, 2025
Ryan Frazier   (principal executive officer)    
    Chief Executive Officer and Director of Arrived Homes, LLC    
         
/s/ Sue Korn   Principal Financial and   April 30, 2025
Sue Korn   Accounting Officer of Arrived Holdings, Inc.    
    Principal Financial and Accounting Officer of Arrived Homes, LLC    
         
Arrived Fund Manager, LLC   Managing Member   April 30, 2025

 

By: /s/ Ryan Frazier  
Name:  Ryan Frazier  
Title: Chief Executive Officer  

 

79