Hey everyone, Oh, meet Kevin here! Welcome back to what'll be the final House Hack live stream of this investing round and it might be the last investing round. I'll clarify that in a moment. But first, uh, if you're not familiar. I Just want to remind you that House Hack is my real estate startup that I created.

uh, we started in about the summer of last year. We expect to start buying homes somewhere between Q3 and Q4 and when people here buying homes, they immediately think oh no, are you gonna like make housing more unaffordable We actually think we're going to do the opposite. We think we're going to make housing more affordable given that our goal is to basically buy fixer-uppers moldy homes, uh, homes that are hoarding messes or homes that basically can't be lived in they're not safe to live in, fix them up in a high quality manner to where their livable homes. We're not going to over improve them, we're just going to restore them to their former glory.

So that way if you have a 1950 home that needs to be restored, we're not going in and tearing it down and building a Mech mansion and gentrifying neighborhoods. We're just creating a home that somebody can actually live in again. And so our vision is that by doing that, we can actually help increase the rental supply and help lower the costs of housing for many people, while at the same time creating a win-win situation where tenants can get Quality Property Management via our company quality properties via our company not deal with the landlord headaches that people usually have to deal with. we operate differently and then also bring houses to Market and help increase that Rental Supply while at the same time being able to realize upside on buying homes that are distressed with cash uh, that home buyers wouldn't be buying basically just investors would be buying.

so we'll compete with other investors and then we'll be able to realize some kind of equity profit by either holding the properties and refinancing or securitizing them or bonds or many of the future different ideas that we have. There are endless different options, but that's not really anywhere close to where we are now. The goal now is to a remind you that the accredited investor around ends March 31st I want to be here to answer questions as well And then we do hope that we can open this up to a non-accredited audience in the future. Hopefully between May and July.

We have not yet submitted to the SEC. We're completing our last audit which is great. We did our first audit already. everything's perfect.

with that. we're doing a new audit on the next six months of financials. so that way we have the latest information. Our SEC attorney recommended that we basically get another audit on the new set of information all the new financials.

So that way when it goes in front of the SEC the SEC has hot off the press fresh information and hopefully they they can give us a green light right away. Hopefully that would be between May and July but there's no guarantee. The SEC kind of gives everybody a time frame of 27 days plus and that could be two months, Three months, Four months, a year, Two years. And if it takes too long, we won't actually need to do a non-accredited around now.

I'd like to because I'd like to give everyone the opportunity and to invest at that one-to-one valuation that we're doing. but I don't know if we're going to make it to that. So that way that's why I wanted to take this opportunity just to remind everybody that House Hack Uh is Uh is in basically its final stage for accredited investors. If you want to, uh, invest, you could go to Househack.com and uh, you can read more about what it takes to verify that you're an accredited investor.

Uh, if you haven't been verified by Invest ready at this point, since we're getting so close to the wire, you could upload evidence of your income potentially being within the requirements. I Think that's for an individual 200k? Uh, so you just upload tax returns up to W2 or 300K if you're filing joint or their asset requirements as well. But you could learn all about that at Househack.com and apply. So uh, that is.

Uh, that kind of gives you a quick little overview and a quick little time frame goal. Uh, keep in mind also, the way we're raising money is in such a way that we're not using a fundraising platform which could potentially take millions of dollars and fees. I Mean some of the fees could be five to ten percent in fees and we don't want to do that. We don't want to pay massive amounts of fees to fundraise When we could fundraise here, have the privilege of doing that on YouTube So we think that's a great way to minimize cost.

I'm a big fan of minimizing cost everywhere possible, because that's very important. If somebody's wasteful with money going into a company, well, then the rest of the company will be wasteful. We don't want that. So everywhere we can, we're trying to save.

And the same is true for actually the apps that we're building out for, uh, fundraising for the non-accredited round. We have web app and development right now and that will let us in-house fundraise for potentially thousands of non-accredited investors. Knock on wood, we get that approval and we'll be saving uh, Millions multiple millions of dollars in in fees by doing it all in-house So we're really excited about that. We're taking a very first principles approach with everything at the company, so we're pretty, uh, pretty excited.

Uh, very. Uh, we couldn't be more excited about the process, So uh. With that said, we'll go ahead and answer some questions that you all might have here and do keep in mind we're probably going to be investing somewhere, uh, mostly along the southern area of the United States to begin with. so that'll be like your Florida Texas Georgia Utah Colorado California TBD Moore areas in the future.

Some people do ask me about uh, my plane I want to be very clear that there's House Hack which pays zero bills or expenses related to my plan uh and does not own the plane I own the plane all of our money at House Hack. well most of our money at House Hack is in treasuries right now just yield farming until it's buy time which again is Q3 Q4 I personally have my own plane uh that I like to use as a tool for making sure I'm the best CEO possible for the company. That's basically my my big bet on the company because without the company I don't think I would need to be that that kind of best CEO that can quickly travel around the country and Lead teams in various different areas so it would be unnecessary. As we like to say in the courses, a plane would be a butter purchase in that instance.

but I think the plane will end up proving to be a guns purchase in the long term and that's why. Also, we're raising money at a one-to-one valuation. My goal isn't to try to sell shares through through a fundraise, I'm investing at the same valuation as everybody else which is one to one. We're just raising a cash valuation.

Which is insane because pretty much every private Equity company that exists gets some kind of artificial valuation and people invest in a a A. You know, a relatively inflated valuation generally. But that's not us trying to back on the industry, it's just saying like I'm doing this because I'm not going to venture capitalists and injecting some kind of crazy premium to try to get checks from them. I'm just offering this to basically course members and people who follow me on YouTube or social media.

So I think it's sort of, uh, my way to uh to to give back. So uh, somebody here says I wish you bought a Honda Jet Honda Jets are pretty cool. Uh, one of the pilots that flies with me. he'll actually be flying with me tomorrow.

No. Friday uh, he flies a Honda Jet a lot. They were just too small for us. Uh, we needed some more seats.

Uh, now we still have a similar fuel efficiency which is very good. So uh, when are the properties being purchased? So I want to be careful that I don't sound redundant in the live stream. Given that I've already answered that uh, we ex but I'll answer it one more time. We plan to purchase properties between Q3 and Q4 and then from there on.

Obviously, if there's some kind of uh uh, Panic uh and an opportunity earlier, we could go earlier. If there's a panic or something that I think would suggest that we should wait, then we'll wait right now. What's actually very interesting is you could see case uh or the Robert Schiller I just came out with a piece which I thought was very interesting Robert Schiller came out he's the uh uh Yale Economist who uh, created the case Shiller Home Price index and he stated quote home prices are high and maybe if you had a chance to delay your purchase, it might be a good time to do it. You might get it a bit cheaper in six months and he's basically alluding to this idea that maybe inventory could rise in three to six uh in the third and fourth quarter, which which we actually agree with.

We'll see, we'll keep an eye on them. Any tax documents do investors expect to receive? Well, you're holding shares, Uh, right. So so it's not like you're you're getting like a K1 as you might in a partnership. these are these are shares and if you receive uh, dividends at some point in the future, there would be a income documents related to that.

but but otherwise no. So right now we're sitting I don't have the exact latest number, but there's a lot of money that's been flowing in just within the last, you know, 48 to 72 hours. Because we're coming up to the deadline here, we're probably somewhere at 25 26 million dollars? I'm not entirely sure. Uh, we originally had commitments of around 27 million dollars and then the uh uh, when the stock market tanked in October uh, we ended up getting I think uh, somewhere around 22 23 that came through.

Uh, that's outside of any of my kind of funding. Uh, if I believe the numbers are correct I'd have to double check the numbers I didn't come prepared exactly with the numbers just because they're There's so many docusigns coming through right now and we want to see which of those wires actually flow through. We actually just had an investor, for example. uh uh sent us an email asking how they can invest an additional 350 000 on top of what they had already invested, which I think was somewhere around 300 000.

A lot of people coming around and kind of doubling down on some of the original investments they made because you remember when we first launched this September 14th the market. The stock market basically like October November December was hell. So uh, that was a pretty quiet period I think we did very well Nonetheless, the fact that we were able to raise over 20 million dollars. uh, you know, for for the Uh credit around which is generally a smaller percentage of the population we I think we we did very, very well.

so we're very excited about that. I did get a haircut. You're right about that. Uh, yep.

yep. so I'm putting in at least one million dollars. Uh, originally I thought that I would put in five million dollars, but uh, what? So basically here's here's what happened: I bought a play. uh now.

uh, that's just full transparency Like that's me taking on a massive amount of risk, right? Like I have a loan of 10 million dollars on a 13 million dollar plane. That's me personally, myself, and my wife. and I'm not taking a salary from househack I'm not selling any shares for househag. but that definitely hit the cash that I had around a lot.

Uh, so uh. so for right now I'm putting in a million dollars into helsack I expect in the future. Uh, there's a high likelihood I'll put in more. but uh, right now I've been carrying all of the payrolls.

Uh, up until I think we're finally getting P We have our first payroll for house hacks started uh, this month and then uh, we're moving everybody else over. Uh, who has house hack responsibility? So that's all really gearing up just now. And so basically I put training wheels on on everything, right? You know, finding the contractors, finding great people, uh, employing them at my other business is uh, so so really. I Think the the beauty is that not only my time commitment, but also having this plane that I'm paying for personally gives us this flexibility that really no other real estate company has And keep in mind we're a real estate company.

It's not a real estate fund, it's a real estate company so we could do some really incredible things in the future. You know, if we get into creating what I want to create which is the Vanguard of real estate or being a platform for investing in uh, you know, zero Fee real estate or uh, you know, software, artificial intelligence? Whatever we end up doing as an investor in House Hack, you're actually an investor in all of it, right? Which is kind of cool. So somebody writes translation. you'll be holding the bag.

So that's a reference to the plane, right? Yes, it's true. Like uh, basically what I've done. the way to look at it is if it weren't for House hack I wouldn't have bought a plane. but I want to be the best CEO for Househack.

So I personally put my name on a 10 million dollar loan at like a 6.25 interest rate to be the best CEO possible for house hack like I I don't think there's something that could be more like risky than that. Uh, and it's really my Testament for how great I think Househack is going to be and I'm not like House Hack investors aren't paying for it so it's like you get the benefit of that without paying for it and really I'm doing that again because of the long run. Vision Which is you know IPO in it within the next? You know, hopefully seven to ten years. And and you know we.

We knock the socks off. You know we look back at this valuation. We're like wow, that was a good deal. You know? No.

I can't make any guarantees, right? I mean any kind of investment is risky? Uh, so I mean knock on wood. But like you got to know what the risks are. So read at Househack.com what those risks are and the perspectives and you know you can lose money obviously as you could in any investment. But uh, I I mean I can only go as far as saying I'm basically staking my net worth on it.

So I'm pretty excited about that. Uh, see. And and so Ted asks if house act tense uh, tanks? who gets paid for a second third? Well, well, first of all, it's very difficult to do that because right now all of the money is cash, right? So like, literally, all of the money we've raised, we've actually we're probably net up money because we're invested in treasuries that are like up. So we're net up money, So it's like even if Househag rolled over today, we'd be up money.

All the investors technically would be up money because of the treasury bonds. Uh, But then if you buy below market value real estate, it's also really difficult to be upside down, right? Because that's what we're trying to do. We're trying to buy four hundred thousand dollar homes and six hundred thousand dollar neighborhoods. That gives us a wedge.

You know, property values fall 30. We're break even in that example. You know? of course we got fixed up costs so maybe like 20, but that'd be crazy. Houses felt that much after we bought because we're trying to, you know, get closer to the bottom.

We know we're not gonna be perfect to it, but we'll have a lot of insulation, so be really, really wild to see that. But right now, the all the only owners of House Hack or or you all people who have invested shareholders. Uh, you know where Everybody there is no first, second, third, fourth, it's it's all an equivalent. Everybody's equal.

There's there's basically one ownership type. That's it. Common shares. That's it.

Now there are voting shares and non-voting shares. And that's something to know is I Obviously at this point control the company in terms of voting shares. But in terms of equity ownership, we're all equal. So if we raise 100 million dollars and I'm in one million dollars, I'm a one percent owner.

I Just make the decisions which obviously you would want that we don't want as at an early stage company. Uh, you? you don't want, uh uh. You know, like to start getting bureaucratic here. You need somebody who can put the pants on and make the decisions right? So uh yeah yeah.

I mean Financial Freedom Made Simple That's what I'm trying to do here. I mean I Have to tell you, you have to read the 98 pages right? But basically, yes, we have a life insurance policy specifically with House Hack as a beneficiary. Yes, we do, um, but uh, but yes, it's uh uh. we're like we, we're just we're trying to do really.

Let me put it this way: I think that, uh, we don't even need to raise any money at all Beyond Where we are now because I think we have such a vision of cash flow that we we could just stop here like we're good and we could just go make money. We're uh, going to wait until we start operating though until Q3 Q4 because that's when we think it'll be by time for Real Estate That's when we think the inventory will go up. So that's why we think between now and then, there's an opportunity to at least give other people who have been supporters of mine who maybe aren't accredited also a chance to get him right now. There's a chance that while everybody will be able to do the same one-to-one valuation I Don't know if we're going to have warrants uh, in the reggae I'm still working on that, but that might end up just being an accredited perk.

Uh, but then the non-accredited could be a lower buy-in like, you know 10K or something like that. So we'll see Househack in Canada House. Hack A maybe in the future? Uh, but you know we're going to start local first. Uh, you know it's it.

What's this? Individual Homes Rental management is not best, especially across multiple. States Why not go for apartment complexes instead? So I actually completely agree with you? Uh, that? Uh, managing a portfolio is very difficult. Uh, across multiple States And so what you have to do is you have to actually create, uh, a leadership structure that could manage people in different areas. That's one of the reasons why I'm going to be flying around managing teams in different areas and building those teams myself because it is difficult.

That's why I bought a plane myself and I pay for it. Not the company, right? Uh, why not go for apartment complexes though? Because apartment complexes generally sell for a fat premium. Generally not always, you could get wedge deals on apartment complexes. We call them rent wedges.

They're much more difficult. They're way far and few between. Mostly because institutions generally prefer the Simplicity of management managing apartment complexes. and that is exactly why they tend to suffering medium.

So uh, kind of crazy. Yes, you can invest from Europe You can invest from anywhere. Uh, in in the world? Yeah, just go to Househack.com Oh haha. You could do this.

You could use the same principles to buy real estate in Europe and Germany and Canada Real Estate is no different. No different at all. Uh, in anywhere you go. The only thing that's different are some of the tax rules and lending rules, but otherwise it's a people business.

Yeah, so how do you get to scale on 30 million dollars? 60 houses? That's actually not true because you can leverage the 30 to about 90 million dollars and then you're looking at 180 houses, right? And now if you get a wedge, if you can realize the cash flow on the wedge, the cash flow on that first of all should be huge. If you could get 180 Homes at a hundred thousand dollars potentially as a wedge per home, that could be 18 million dollars of cash flow. Do you imagine that like uh, then it starts looking like oh wow, Okay, wait a minute. There's a lot of money that could be made there.

and I'm not making guarantees and I'm not making any projections. I'm just saying if you took 30 mil and you leveraged that and bought 180 wedge deals that each created Equity of a hundred grand. A hundred grand times 180 homes is 18 million dollars. If we raise 30 mil and we just created potential cash flow of 18 million, we basically just made half of the money of of the company back.

You see, you see where like there's a lot of money to be made here. I'm very excited about it. This is not a guarantee, it's not a projection. If you invest, you can lose all your money.

All this could be wrong. I Want to be very clear, but we're very excited. Okay, there's a reason why. I Bought a plane myself and signed on the debt for my the plane myself because I look at the numbers that we think we could pull for house and we're very exciting.

Now that is not an implicit guarantee and it's not an explicit guarantee. I'm just saying. we're very excited about the numbers. All right.

So thank you Mia Um, we gotta love her. Uh, let's see here. Uh I need to learn from Open Door You should learn what not to do by looking at Open Door that looking at Open Door is exactly what to look like. Uh, for not what not to do.

That sounds evil, but it's true. How will the option structure look like for us? CEO We have nothing, uh, even remotely an idea of what we're going to do for stock based comp options. Nothing We we have no idea. Uh, we nobody has stock options.

Uh, nobody has. There's there's stock based compensation which is just getting shares. Then there are stock options which are kind of like you know, one option is 100 shares right? Then they're like restricted stock units investing options. they're Performance Based ones.

There's that. That world is so complicated. We've looked at it and we've said this is so complicated we are not going to worry about that Let's operate first. We'll worry about comp in the future.

Zero salary is what I'm taking Lauren's not taking a salary We are not in this for to try to like sell shares to you or to try to you know, buy a five million dollar mansion or whatever next year because we dump chairs on you like another company just did that. I won't mention that I may have just made a video on um, but they don't need to be mentioned that that's not what we're trying to do. Uh, my goal is I mean straight up I Want to make this a multi-billion dollar company in 10 years and then all this little stuff ain't gonna matter anymore. That's my dream.

Okay, so um, yeah, that's that's my motivation. Stop it. Yeah, if you want to invest and Donnelly the best thing to do is go to Househack.com Uh, fill out the form. uh and if you have questions, send an email to IR Househack.com IR That's like investorrelations at Househack.com We've got two amazing CPAs uh that handle uh like 99 of the emails there.

Does my ETF own any house hack? no uh, you cannot own unlisted companies in an ETF yes dollar is asking how do you pay for your plane since you sold all your rental properties I make more YouTube videos I mean like full transparency? That's how you how I make my money I make YouTube videos uh I Also sell courses I have Affiliates Sometimes I have have sponsors I took a break from sponsors but all of those revenue streams pay for the plane and for me that's that's like a style of an investment into myself to be the best CEO of how for house hack right? Like some people look at the plane and they're like oh, Kevin's financing a lifestyle like I I wish I could just take this thing on vacations. This thing is like 99 work. Uh yeah, we're not at Liberty at this point to say exactly where we want to invest. mostly because we don't need to make that decision until Q3.

Now we have favorites right? like Georgia Florida Texas Nevada Arizona California but they're all at different Colorado but they're all at different phases in the real estate cycle so we have to. we have to see where we are in. Q3 Really I did get a haircut yeah uh, somebody says do I did I anticipate getting much Flack for the plan I actually thought I would get more. Uh, so actually it's been very benign I Think that's because hopefully because I've been very transparent about it.

Depreciation for a private plane is 100 in 2022. Can I see myself being open to getting acquired in 20 to 30 years if it scales to the size of Vanguard Well, hopefully we're public within seven or eight years. Uh, but yeah, I mean even a public company could get acquired I don't know, you know it's it'd be like I feel like it'd be like breaking up with my baby you know and then you become subject to like somebody else's board and then they fire you because they want to do it their way and then they ruin it I Don't know, you know I have reservations about that, but that's so far down the road. Be the Bear on house hack.

Uh, tell me the possible downside. Okay, um so well, um, the worst. Probably the riskiest time is the starting period right? because at the beginning we, uh, go into new territories. Uh, so something that we think might be a hundred fifty thousand dollar wedge deal might only be a hundred thousand dollar wedge deal and then oh no.

what? if you have to redo the foundation right? Like we don't think with the experience that I have, we're going to run into that. But I mean obviously if that happens at scale, it would be problematic so that would probably be the the greatest issue. But then do we really think you can go below the wedge deal? Like to to the point where like you bought a 400 000 house thinking you'd have to put in 50k and it was worth six and then all of a sudden not only did you have to put in 200 000 but you had to put in more to where you are upside down. It's really hard to see a massive downside in real estate I Think that would like a massive downside in real estate would probably be outside of our control.

Uh so I would say will probably be very accurate with our wedges and our Renovations There'll be some risk in finding vendors and starting to work with new vendors and building those relationships. but that just means we're gonna have to have more buffer on each deal. That's not that big of a deal. uh, more would be I Would say a bigger risk would be what if we end up in stagflation where we have a, you know, a 10-year down cycle in real estate uh, or or like you know, rents plummet for a very long period of time.

Although we're not so worried about rent because we're paying cash for the properties and we wouldn't refinance, probably for some time anyway. So that limits the rent risk. It also limits the valuation risk. So I mean I suppose worst case scenario was like if you had a hundred million dollars, you bought a hundred million dollars of properties that you thought would be worth 130 mil and they're only worth 80.

but you own them. Cash like do you have to liquidate no like I don't know I mean I'm sure there are other worst cases you know like I mean I guess I Get hit by a bus tomorrow and you get your money back or something I don't know but um yeah I guess I don't really I don't know. maybe I'm not seeing it I've just been down I've played the rodeo so many times it just doesn't. It doesn't seem that scary to me, but yeah, uh yeah.

you should make a new course of one to ten mil. That's awesome. That's funny. So non-accredited investor, you know, watch the beginning of the video.

I Talk about uh, non-accredited Yep, we'll be buying with cash first after traveling through the US Are we in a recession? people? still? people are still spending. Man, it's crazy I got out of Voyager Usdc because of you Kevin you saved me 26k. Thanks man! Well I'm happy I was able to help with that. Uh, it's uh, all the crypto stuff is just terrible.

Um, but I'm glad you were able to get out. So how many properties do you estimate having in 2025? I Honestly have no idea. uh it. You know it depends what we do.

I mean if we have you know by the end of 2024, if we could have a few hundred stabilized properties then it then it becomes okay. How do we? How do we go to like, what do we do next and you know there are many different ways we can go. It's the platform of real estate. It's the um, you know, uh, it's it's bonds, it's refining I mean there's so many things we could do.

it's just it's it's so far down the road. I really have no color into what the best decision is going to be then for right now I'm just focused on getting the best foundation set up possible. if you invest in House Hack will I get a discount if I rent a property. No discounts.

Uh uh. So Kevin you're timing the creation of Househack. It's such an opportunity opportune time. Why are you not charging a premium? Seeing that other startup funds basically have been buying at such higher price point meaning one-to-one seems like such a steal, especially when you're entering.

Have you considered offering a higher valid or is one-to-one locked? Yeah? I mean I've thought about it really. uh my my thinking is I'm thinking about this super super long term I'm like yeah, could we raise at a higher valuation now? Sure. Uh, but I I want this to be such a screaming success that you know if in the future there's ever another opportunity to invest or something. people are like, you know Kevin took so much care of us in that first round I'd love to invest again, right? So it's really, um It's like a it's I think it's good will building for house hack? Uh, you know I I think uh and it's also a way to sort of give back I Feel like so that's really why I want to do the non-accredited round two? Uh I think that'll be really great.

So what's the reason for the live This afternoon, The Uh House Hack fundraise ends March 31st. So what are the taxes like for a house hack? when you sell a house at a large profit? Well, they would be like that for any Corporation But we actually don't plan to sell houses at a large profit. because we don't plan to sell houses. We plan to hold houses.

now. there are. uh, now if we sold a bundle of properties and we sold the equity of them. Yeah, at that point we'd realize taxes and you'd pay, you know, corporate taxes at say 21 or whatever.

But uh, they're They're ways you can play the game and not have a taxable event. So we're not terribly worried about taxation. generally. you know, if you're making money for taxes, uh, tax purposes, you're doing quite well.

anyway. Uh, not accredited will probably be 10K 10K House hack? Uh, will be Wyoming is a Wyoming based company and you pay taxes based on the state in which the real estate is located. So if the real estate is located in Texas you don't pay state taxes. If the real estate is located in California you pay California taxes.

So it all gets divided by where the Uh properties are. It has nothing to do with. Um, absolutely nothing to do with Uh with with where we're based. It has to do with where the properties are based.

Yeah, somebody says just sold 10 mil in Bitcoin Wow, that's awesome. Yeah, Um, so I Also want to be very clear. some people are asking about this company called Arrived. Extremely different from Househack.

So you're not actually at this company. Arrived? You're not investing in Arrived. You're investing in these miscellaneous individual properties that that you could potentially select uh from. Uh, you'd have to be I I Don't know, but you'd have to be very careful of the fees they're charging you to invest in those individual properties.

They're usually pretty high. You also are then responsible for doing your own due diligence on those deals. I Mean at that point I Feel like you may as well. Just you know, go buy, buy your own deals.

But no, with Househack, You're actually investing in a company. You're not. You're not investing in, uh, individual deals or real estate. You're investing in all of the the vision of the company and what we're trying to accomplish.

So let's see here. Um, we're We're not doing projections at this point. Uh, publicly. So no, we're not sharing those.

I mean maybe in the non-accredited it's projections are always tough because you know. I I Don't think anybody has a crystal ball and can look into the future and I I Feel like I got a little jaded when I saw all the projections that were being done uh for IPOs and companies over the last few years. I'm like wow, like yeah. I don't know.

So it doesn't matter where Househack is, physically it matters where the properties are. I I'm not going to answer that question again. Uh, let's see here. it has nothing to do with where I live.

it has to do with where the corporate income is created. You could talk to your CPA about that If you have more questions. uh, let's see properties were I mean this I don't know what you're talking about Christian Somebody here is talking about Mark to Market on properties with cash flow. We're buying properties cash so there'll be a lot of cash flow until we refinance and we'll evaluate that at the time.

non-accredited Yes, same one to one. That is the plan. That is the plan. Uh, and so we we, uh, we should hopefully have our first response from the SEC by early May So we're pretty excited about that.

Very excited. Oh my goodness. All right. All right.

so let's see here. So some people are saying uh or asking about uh, like maybe other companies that have charged a premium with without even operating. Uh, you could look at this company called Flow Andreessen Horowitz invested in them and that is a company that uh, raised over 300 million dollars uh at an over one billion dollar valuation which is pretty insane and uh, they uh. As far as I'm aware, just have an idea on a napkin I don't think there's any actual operation.

It's pretty insane. Private Equity out there pretty insane. Could course members maybe get in for 5K I Don't know because we'd probably have to revise all docs at that point. I I'm not sure about that, but we'll have to see about that.

Minimum to invest right now in the accredited round is 25 000. if you have any issues or questions on that, just email IR at Househack.com We will not be investing in Puerto Rico Although we have looked there, um, it's a good question. You mentioned that House Hack will be one of the most transparent companies ever. What efforts are you making to achieve this? Yeah, these are really good questions.

So first of all, one of the things that drives me nuts is, uh, you have a lot of corporations that make their corporate structure extremely difficult to understand. It's almost like it's designed to confuse people with tens of different preferred shares and different common shares. all the different equities and different ownership interests. and Partnerships I almost think by design a lot of people file companies.

Uh, you know, with the SEC expecting just to confuse people and and then they don't actually know what they're getting into. So I think our transparency really starts with the fact that we have one share. you know, one valuation. cash valuation.

basically I think that's where it starts I think It is also helpful that we've we've shown a lot of uh, our travels already on. YouTube we won't show everything you know. there are some things obviously that will be proprietary. uh but uh, you know we want to make as many YouTube videos as possible sharing the Journey of building the company.

uh it. also as changes occur because there are always going to be changes I mean I uh will always revise to what I think is the most profitable and in the best interest of the company and shareholders. uh and I think that's what anybody would expect a CEO to do right? So we'll see. So uh okay so I explained why this was the last house hack stream.

It's the last of this fundraise and we're closing this out. Uh, so on the 31st Any superstitions when buying a home? No, not at all. Uh so okay I think we've pretty much explained most of the questions here. I think we've done quite well in answering questions here.

So um, yep, we'll be working with a lot of local agents and local vendors. It'll be really fun. Uh so we'll be very excited about that commercial real estate and convert to residential I think would be a a great way to go bankrupt and it's something that we will not do uh uh for a very very long time so not not interested in that I mean maybe in the future we could do Devs but we probably start with like actual Casitas you know, stick built or or masonry build depending on where we are. So very excited about that.

Uh somebody. mini disc here says I've never seen an interaction with people on Twitch that's not wrong. It's almost daily that I answer people on Twitch House I can invest in restaurants? Hell no. dude.

restaurants like between you and me, your house. Personal financial advice aside, restaurants are a horrible investment. Generally, Darden's been doing pretty well I Keep an eye on them. but I will not invest in that.

This house aren't going to be better than Tesla in returns. How am I supposed to know I have no idea I think it's very Diversified from Tesla it's probably like the furthest Diversified from Tesla you could get only the bartender makes money at the restaurant. It's probably true. that's probably true.

Uh oh. I would What I would say though is I want to be the first company that buys a ton of Tesla Bots to do uh, work on houses like property management for us? Oh, it's awesome. It's awesome. So somebody's asking who my major investors are.

Let me put it this way, over 90 percent of our investors or course members. So we've got a lot of accredited investors. uh, in the courses. no commercial for now.

although commercial could be deemed five plus in residential. but we'll look at apartments in both single family. It'll be mostly single family. We're not going to pass up a good deal on multi-family I'm not close to touching commercial at this point, maybe in the long term, but it's no, no, not anytime soon.

Uh, is this not just some Reit This is not a Reit You're not buying into a real estate fund, You're buying into a company. and beyond that, have you ever read? Let me let me give you a challenge. Okay, you want to know what the difference is between House hack and another Re. Here's what I want you to do: I'm going to give you some homework.

Okay, because this is something we're looking at right now and I'm not going to draw any conclusions for you. go look up the 10K the annual report for American homes for rent that is a single family read: it's one of the largest in America and I want you to look at the 13 owner and where did that owner come from Who shaves off 13 of all of the net income? Who are those owners? Why do they have a 13 share? Why does it seem like they never get diluted over the last you know, 10 plus years of their existence? Why does it seem like public rates? Potentially not saying they do potentially actually rob you of more fees than other reads. Househack is Not a read. Househack is a real estate company.

Uh, that. uh in the future hopes to be the Vanguard of real estate so you'll have to leave that up to uh, the team to, uh, determine. But um, yeah. so uh, Ruby Red says houses are supposed to be for families, not greedy investors.

So Ruby should watch the beginning part of the live stream where I talked about how we're actually taking empty homes like fixer-uppers and providing them to families and actually supporting affordable housing. Somebody has to do it, and it certainly helps contribute to housing. Supply So I actually don't think that house hack by any means would ever be that we're not gentrifying neighborhoods. We're restoring homes back to their prior Glory right? Very important difference.

Airbnb I Personally think is a bit in a bubble. Uh, how would you explain solvency to someone with no Financial experience? So just think about a bank. Okay, so if a bank has a hundred dollars in deposits and a hundred dollars of cash, they're solvent because if somebody withdraws all their deposits and the cash goes to zero, they had the money to cover it right? Uh, now that could be an asset. So let's say that's deposited into treasuries.

Well, there's solvent because they have enough assets. Now let's say they have 150 dollars in treasuries and fifty dollars in cash and 150 in deposits. Well, they have and if somebody comes and wants 25 of cash, they have the liquidity because they have the cash available. So liquidity is having cash.

Solvency is having more cash or more assets. total assets than your actual liabilities. Well, we just saw the banking crisis was a liquidity crunch. There wasn't enough cash.

Uh. Although at some point we started getting worried about solvency issues as well. Uh oh look, Invest Ready is in the chat. Thank you for using our service for your accredited investor verifications.

You've been a great partner. This is true. Uh, you can actually go to Househack.investready.com that is. Honestly, they are really good.

They're the easiest way. Like they make our job so easy and they keep our costs down at the company. If you type in Househack.investready.com and you want to get verified with them, they make it so easy. I Love it when I see the Invest Ready letter because I'm like I trust them.

It's simple. they make my life easy. Thank you uh you all have seriously thank you if you're still watching after having left a comment I Appreciate you all. it's awesome.

uh uh. there's some funny comments here. uh uh uh uh. the Avenue for Alpha I think is uh my experience.

So I do think it's heavily involved in what I can do relative to what Mbas on Wall Street uh do yeah and then of course so I think we have my personal Alpha But then we also you know fortunately have support of everyone on YouTube to help us. uh who follows? So yeah, all right do they pretty much answer everything I think I have Uh, In the future, we'll probably offer oh yeah, invest ready here. Thank you. In the future, we'll probably offer our attendance uh, the opportunity to gain Equity as well.

Uh, not probably in House Hack, but probably in the individual properties. So think about that. If House Hack is the holding company, House Hack could actually have multiple funds under it in the future that there's no plan for that or guarantee right now. These are just ideas, right? But for example, if we had like 20 different funds in the future, those could all be owned by the umbrella of House Hack, which is what investors are investing in Now for the future, it's possible tenants could get equity in some of the individual baskets of homes, which is kind of cool.

Well, I Think that is the perfect time to do the following: Make sure to go to Househack.com to learn about our offering and read the solicitation when you're ready to invest. Make sure you do so as soon as possible. Ideally go to Househack.investready.com and get an accredited investor letter before the expiration March 31st at 11 59 Pm. Check all that information out at Househack.com or again, Househack.investready.com and hopefully it'll be not accredited around here.

Thanks everyone!.