Related Party Transactions

9 Months Ended

Sep. 30, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 11 — RELATED PARTY TRANSACTIONS

Net Revenues — Related Party

Name of Related Party	Nature	Relationship	Three Months Ended September 30, 2024		Three Months Ended September 30, 2023
Haiyan Ma	Real estate service revenue – real estate agency commission	The Company’s shareholder with 12.41% ownership	$	62,550	$	—
Na Li	Revenue from property purchases and sales through Cash Offer	The Company’s shareholder with 7.24% ownership, Chief Financial Officer, and Director		1,670,000		—
Na Li	Real estate service revenue – home renovation service	The Company’s shareholder with 7.24% ownership, Chief Financial Officer, and Director		40,500		—
Zhen Qin & Na Li	Real estate service revenue – real estate agency commission	Zhen Qin: The Company’s shareholder with 52.74% ownership, Chairman of the Board, and Chief Executive Officer; Na Li: The Company’s shareholder with 7.24% ownership, Chief Financial Officer, and Director; Zhen Qin and Na Li are spouses		50,000		—
Total			$	1,823,050	$	—

For the three months ended September 30, 2024, the Company provided real estate agency services to Haiyan Ma, assisting with the sale of two properties and the purchase of one property, for which the Company earned a total of $62,550 in real estate agency commission.

For the three months ended September 30, 2024, the Company purchased a property in cash for $1,425,930 from Haiyan Ma under its name and subsequently sold it to Na Li for $1,670,000.

For the three months ended September 30, 2024, the Company provided home renovation services to Na Li on a home renovation project, for which the Company earned $40,500 in home renovation service revenue and incurred $37,945 in renovation costs.

For the three months ended September 30, 2024, the Company provided real estate agency services to Zhen Qin and Na Li, assisting with the purchase of a property, for which the Company earned $50,000 in real estate agency commission.

Name of Related Party	Nature	Relationship	Nine Months Ended September 30, 2024		Nine Months Ended September 30, 2023
Haiyan Ma	Revenue from property purchases and sales through Cash Offer	The Company’s shareholder with 12.41% ownership	$	2,940,544	$	—
Haiyan Ma	Real estate service revenue – real estate agency commission	The Company’s shareholder with 12.41% ownership		62,650		—
Haiyan Ma	Real estate service revenue – home renovation service	The Company’s shareholder with 12.41% ownership		53,012		—
Na Li	Revenue from property purchases and sales through Cash Offer	The Company’s shareholder with 7.24% ownership, Chief Financial Officer, and Director		1,670,000		—
Na Li	Real estate service revenue – home renovation service	The Company’s shareholder with 7.24% ownership, Chief Financial Officer, and Director		44,500		—
Zhen Qin & Na Li	Real estate service revenue – real estate agency commission	Zhen Qin: The Company’s shareholder with 52.74% ownership, Chairman of the Board, and Chief Executive Officer; Na Li: The Company’s shareholder with 7.24% ownership, Chief Financial Officer, and Director; Zhen Qin and Na Li are spouses		50,000		—
Two minority shareholders	Real estate service revenue – real estate agency commission	The Company’s shareholders with less than 1% ownership for each		15,550		—
Total			$	4,836,256	$	—

For the nine months ended September 30, 2024, the Company purchased three properties in cash for $2,884,882 from unrelated parties under its name and subsequently sold them to Haiyan Ma for $2,940,544.

For the nine months ended September 30, 2024, the Company provided real estate agency services to Haiyan Ma, assisting with the sale of two properties and the purchase of one property, for which the Company earned a total of $62,650 in real estate agency commission.

For the nine months ended September 30, 2024, the Company provided home renovation services to Haiyan Ma on three home renovation projects, for which the Company earned $53,012 in home renovation service revenue and incurred $43,332 in renovation costs.

For the nine months ended September 30, 2024, the Company purchased a property in cash for $1,425,930 from Haiyan Ma under its name and subsequently sold it to Na Li for $1,670,000.

For the nine months ended September 30, 2024, the Company provided home renovation services to Na Li on two home renovation projects, for which the Company earned $44,500 in home renovation service revenue and incurred $39,245 in renovation costs.

For the nine months ended September 30, 2024, the Company provided real estate agency services to Zhen Qin and Na Li, assisting with the purchase of a property, for which the Company earned $50,000 in real estate agency commission.

For the nine months ended September 30, 2024, the Company provided real estate agency services to two minority shareholders, assisting one shareholder with selling a property and the other shareholder with purchasing a property, for which the Company earned a total of $15,550 in real estate agency commission.

Cost of Revenues — Related Party

Name of Related Party	Nature	Relationship	Three Months Ended September 30, 2024		Three Months Ended September 30, 2023
Haiyan Ma	Cost of property purchases and sales through Cash Offer	The Company’s shareholder with 12.41% ownership	$	1,420,000	$	—
Zhen Qin	Cost of real estate services – commission payouts	The Company’s shareholder with 52.74% ownership, Chairman of the Board and Chief Executive Officer		45,000		29,000
Total			$	1,465,000	$	29,000

For the three months ended September 30, 2024, the Company purchased a property in cash for $1,425,930 from Haiyan Ma, which included $1,420,000 paid to Haiyan Ma as the total consideration and $5,930 in title charges, escrow charges, and other related costs. The Company subsequently sold the property to Na Li for $1,670,000. The total purchase cost of $1,425,930 was recorded as cost of revenues, with $1,420,000 specifically identified as a related party transaction.

For the three months ended September 30, 2024 and 2023, the Company paid Zhen Qin commission payouts of $45,000 and $29,000, respectively, for real estate transactions he conducted on behalf of the Company, which were recorded in cost of revenues.

Name of Related Party	Nature	Relationship	Nine Months Ended September 30, 2024		Nine Months Ended September 30, 2023
Haiyan Ma	Cost of property purchases and sales through Cash Offer	The Company’s shareholder with 12.41% ownership	$	1,420,000	$	—
Zhen Qin	Cost of real estate services – commission payouts	The Company’s shareholder with 52.74% ownership, Chairman of the Board and Chief Executive Officer		45,000		61,400
Total			$	1,465,000	$	61,400

For the nine months ended September 30, 2024, the Company purchased a property in cash for $1,425,930 from Haiyan Ma, which included $1,420,000 paid to Haiyan Ma as the total consideration and $5,930 in title charges, escrow charges, and other related costs. The Company subsequently sold the property to Na Li for $1,670,000. The total purchase cost of $1,425,930 was recorded as cost of revenues, with $1,420,000 specifically identified as a related party transaction.

For the nine months ended September 30, 2024 and 2023, the Company paid Zhen Qin commission payouts of $45,000 and $61,400, respectively, for real estate transactions he conducted on behalf of the Company, which were recorded in cost of revenues.

Due to Related Party

Name of Related Party	Nature	Relationship	September 30, 2024		December 31, 2023
Zhen Qin	Due on demand, non-interest bearing	The Company’s shareholder with 52.74% ownership, Chairman of the Board and Chief Executive Officer	$	100,000	$	—
Total			$	100,000	$	—

On May 1, 2024, Zhen Qin lent $530,000 to the Company to support its operational needs. As of September 30, 2024, the Company repaid $430,000 to Zhen Qin, and there was an outstanding balance of $100,000.