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REAL ESTATE ASSETS

9 Months Ended

Sep. 30, 2023

Real Estate [Abstract]

REAL ESTATE ASSETS

5. REAL ESTATE ASSETS

As of September 30, 2023 and December 31, 2022, real estate assets consisted of the following:

SCHEDULE OF REAL ESTATE ASSETS 

		September 30, 2023				December 31, 2022
Construction in Progress		$	5,380,250			$	15,506,572
Land Held for Development			3,395,701				7,943,126
Rental Properties, net			31,129,286				31,169,031
Total Real Estate Assets		$	39,905,237			$	54,618,729

Single family residential properties

As of September 30, 2023 and December 31, 2022, the Company owned 132 Single Family Residential Properties (“SFRs”). The Company’s aggregate investment in those SFRs was $31 million. Depreciation expense was $259,405 and $161,182 in the three months ended September 30, 2023 and 2022, respectively. Depreciation expense was $779,232 and $474,936 in the nine months ended September 30, 2023 and 2022, respectively. These homes are located in Montgomery and Harris Counties, Texas.

The following table presents the summary of our SRFs as of September 30, 2023:

SUMMARY OF SINGLE FAMILY RESIDENTIAL PROPERTIES 

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

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The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures.

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