Now it's time to talk about my real estate startup House Hack. In this video, we are going to go through the fundamentals, including the balance sheet. How much money does Househack have? Where is the money? We're going to talk about the income statement, what kind of income do we have, and what kind of expenses have been billed to House Hack through January 24th how much of meet Kevin's personal private jet is being paid for by House Hack investors and what kind of potential benefits do Househack investors get from Kevin flying around in a private chat and why is Kevin asking to potentially raise more money in the future when he has private jet and investor money? How are we going to reconcile all of that? Well, we're going to do that by being transparent about financials I Think transparency is incredibly important and the first thing that we have to be extremely transparent about is we did now raise as much money as we hoped. Uh, we actually I mean in during the disaster that happened, we actually got more commitments than we could have ever dreamed of getting during the craziness of the market.

Last? Uh, like September October Uh, we got 27 million dollars in commitments which was really phenomenal. We that blew away our expectations, but we did not get as much follow through as we hoped in that because people complained that their money went down in the markets and so what we have is about 23.3 million dollars uh, in in assets. most of that sits in LPL So I'll show that on screen. Now this is the House Hack balance sheet as of January 24th.

So remember 20 Like Here's here's how fundraising works. So when you do fundraising, you have people commit money and they say look I am going to commit I don't know a hundred thousand dollars right? And so we got 27 million dollars of commitments and we got follow through of that of about 23093 which is actually not bad. So this is a substantially more money than we thought we were going to raise, which is great, but it is like the follow-through we were hoping that ratio would have been higher so 23 divided by 27. It's actually not bad for for, uh, private Equity that's uh, over an 85 fill rate.

So 85 percent came through which is great A lot of venture capital these days is sitting at, uh, somewhere around 20 coming through. So in other words, if you got a hundred million commitments, you might only get 20 mil. That's like a lot of venture capital, right? And the the beauty about how we raised money for House Hack is Guess How much money we spent to raise 23 million dollars in terms of advertising for investors. Zero zero.

We spent zero money advertising for investors because we used YouTube That is freaking insane. It is insane that in a hellish bear market and recession, we were able to raise 23 million dollars in in actual money. uh with with zero fees from like platforms that wanted to take fees. Uh, there are a lot of platforms out there like people like oh why don't you list on like start engine or one and this is not to poop on start engine.

uh you know I'm sure start engine is great for people who don't have a YouTube channel but they take a lot of money and fees and and I don't want to pay any fees. So I think we did really really well here soon. Uh, in April and and you can invest if you're an accredited investor now you go to Healthsack.com Actually you if you if you sign up before the end of the month here January 31st you still get more warrants than anybody who would in April Uh I Think you get like 20 or 30 in warrants which is really great. It's sort of like a free stock option almost.

It's not the best explanation, but just read the prospectus on how sac.com and you'll learn more. That's also where you can go to invest. But anyway, in April we plan to do a reggae. My goal is to double what we've raced with the reggae.

so my goal is to go from about 23 mil to hopefully about 46 mil. Uh, this would be this is the goal I Would say 40. like under 40 is not ideal but we'll we'll figure it out. Uh I Would say that ideally we're probably looking at uh or like best case scenarios like 50 plus right 50 plus.

that would be the best case scenario for the right game. And the reason for this is we have a strategy that we're going to be revealing when the reggae comes out that potentially lets us print cash flow a lot faster than we thought. Now knock on wood I Can't guarantee that, but we've come up with a way that we can basically milk a crap out of these wedge deals and make house hack a lot of money. and uh, we.

We think it's an incredibly low risk hard work but low risk strategy and we can't wait to reveal the details of that when we get closer to our Reggae filing and it gets the uh uh stamp of uh or sort of the green light to raise money should I say from uh, the SEC So all of all of our prospectus and everything for the Reggae filing will be going through the SEC over the next few months. A non-accredited or sorry an accredited round is a 506 D round which does not actually go through uh SEC review and the next round will uh be going through SEC review and that's how you unlock basically the non-accredited pool right? So uh, that's going to be really really cool and I expect that in April uh, hopefully sooner. but I think realistic is April So anyway Hal Sax Financials. We have a checking account 538 thousand dollars in it, a wire in account.

We just got a wire of 130 000 bucks. So usually the wire money gets moved from the wire in account to the Uh checking account on a regular basis. LPL These are our bonds. This is where we have 21.5 million dollars in treasury bonds.

Those are paying us good dollars Now people wonder They're like Kevin Is that going to be on the income statement? No. And people are like, wait, so are you taking all of the interest money? No, it's not how bonds work. We are making roughly on 21.5 million dollars, roughly a yield of about 4.25 net of any fees. roughly.

That works out to an annual interest yield of about nine hundred and thirteen thousand dollars. That means those bonds are basically generating about seventy six thousand dollars per month in in CR in income. And so some folks are like Kevin Well, where does that money go? They come when the Bonds mature. That's very important for people to know because bonds.

The way the Treasury Bond market works is you don't get a monthly or weekly check from treasuries. You buy bonds at a discount, so you buy. uh. in this case, if if these were all 12 month bonds which are not, they're they're a ladder portfolio.

But if we bought Uh 21.5 of bonds, we would have actually had bonds that are worth uh, 22.4 million dollars. That's how bonds work. So you buy 22.4 million dollars worth of bonds at a discount at 21.5 That's how the bond market works. So in other words, you spend 21.5 to buy bonds that are worth 22.4 And so once those Bonds mature, we get a bucket of cash.

which is probably those maturities are going to happen roughly around when we expect to buy real estate, which is perfect. So in other words, we get a bunch of free money for the company For house hack investors, House Hack gets this benefit not Kevin Okay, we're very clear about that I know there's cynical people and curious people. so I just try to be as transparent as possible I Think this is the easiest way to do it. So uh, LPL Brokerage account.

Uh, LPL brokerage account is again. that's the. um, those are the treasuries. Uh, stock subscription receivable.

That is a personal guarantee that uh, I am contributing at least another 925 thousand dollars. And that's a personal guarantee that I've made. So like I've signed a debt instrument that I'm contributing at least another 925 000. Uh, in addition to what I've already contributed and uh, I expect in the long term, my total contributions to these early rounds will probably before the rounds close.

probably be somewhere between two to five million dollars. I'm probably going to get that to closer to five, but it depends what what the market does and what what uh, what situations are. so that's dependent. Then we've got our wedge finder.

Uh, which is wholly owned, wholly owned as an asset? uh, by househack of about 269 000 bucks? Uh, what do we have over here? Uh, these are that's money owed to the pathrathorg? Uh. I've got to look at how exactly some of this is balanced out, but there are basically some. some back and forth of of nominal amounts of of a few hundred thousand dollars. I Know that doesn't sound like a nominal, but basically uh, we have everybody who is employed.

Like House Hack has zero employees. and so that's where some of this might look. A little tricky, but it's it's these are nominal numbers anyway. But basically here's the employee structure right now.

Oh, and quick note: Before I mention the employee structure. there's a current liability section that turns into Equity when the fund closes. So in case you're wondering why the money from investors is deemed a liability, it's deemed a liability. Now, when the fund round closes, when we stop raising money, and then we move from fundraising to operating, that becomes Equity Investor Equity House Hack has zero employees, zero dollars of of employees, and all of the employees.

which there are a lot. There's the construction team of four and these are going to be our property management team in the future. All of them are employed by me uh, which is the password. That's my personal company right? So we've got a construction team.

We've got Uh two, uh, two, contract CPAs which are really good. We've got uh, contract bookkeeping, book keeping. We've got uh, uh, four staff on top of that and I'll say potentially four to five staff. On top of that, roughly four to five staff on top of that.

So in other words, we have 4 plus 2, 6, 10, 10 to 11 staff. Basically all of that staff is being paid for by Kevin Paffrath. Kevin Paffrath is paying a boatload of payroll this year and what we plan to do is as House Hacks starts well. First of all, we're going to Uh, the Pathway.org is going to Bill some of our CPA expenses and investor relations expenses.

Obviously to House Hack, some of that has already been built, some of it still gets built, the rest of the payrolls are on me, and that's because they're mostly working for things for Kevin right now and as time goes on, as we go forward, I'm able to take employees who are really good at already working with me and my team and slowly move them to the House Hack payroll as they transition to solely working for House Hack. Now the beautiful thing about that is how normally businesses operate is normally you would pick people up off like you would hire people cold, right? And that's dangerous. So like a usual startup, hires new people who aren't used to working with a boss. that's a That's the usual way.

And there's a risk in that, because what if they're bad employees, right? The lower risk factor for House Hack, which is awesome, is that Kevin already has amazing people. It's basically a free asset for Househack that we could take amazing people if I could spell it right here on screen. We could take amazing people and slowly shift them over So Eventually, as we're actually buying real estate and managing real estate and fixing up real estate, that's where we start seeing the expenses move up uh, for for payrolls. But right now the beautiful thing is House Hack is Cash flowing substantially because of the value of those treasuries going up.

So this is the full balance sheet here. and if we now go to the income statement, you can see that here we have wire fee income of about five thousand two hundred dollars. We don't show income here because there is no income for the company. so we've got wire fee income of 5 200 bucks.

Although we have had Bank service charges of somewhere around six thousand nine hundred bucks, we've had some startup incorporation costs about 220k, some nominal uh, audit fees, computer and internet expense is about four Grand startup incorporation costs 220. Grand So really, we've spent about 226 000 dollars and that's it. You'll notice there are no travel fees. There's no plane fees.

Uh, there's no plain asset. There's no plane ownership. There's no plain billing, right? There's none of that. There's a simple reason for that Kevin Pafrath and Lauren we can't forget about Lauren and Lauren we write that and Lauren have personally taken liability for the plan and Kevin pays for the plane and the reason for that is I personally see the plane as a very, very big Uh tool for making sure that I can be where I need to be myself to make sure I can operate this startup as efficiently as possible and make sure that I can create the teams I need to and basically build my startup in different areas.

and so YouTube's paying for the plane which is great and I expect it to stay that way for as long as possible and I take no salary from housing. So the beautiful thing is we have some really cool things going on at the startup because we have a lot of basically what I call free I call them risk mitigators, right? which generally startups don't have. So the risk mitigators that House Hack has is. First of all, it's in the real estate business which I personally deem to be a lower risk business.

It also has the asset of already solid employees. It also has the asset of Kevin's expenses being covered by YouTube. It also has the asset of free marketing via YouTube which leads to lower expenses for House Hack. It also has the asset of having bought bonds at at probably at probably Peak year yields at likely Peak yields.

This is great. It also has the asset of Kevin Kevin buying real estate in a wedge deal format that has been extremely successful in the past. Uh, been successful. There we go.

Uh and it has the the proprietary uh AI that we have I can spell it right There we go. Uh AI that we have on uh, finding wedge deals in Broad markets right? So what I think is so incredible is they're they're unfortunately there I mean they're always going to be haters and they're always going to be people who are critical of of businesses that that you operate. uh and that's fine. like I'm I'm totally fine with people having commentary and critique, but oftentimes commentary and critique can go to this this state of just untruths and lies.

uh and I think the easiest way to combat that is just being completely transparent and uh, the complete transparent method I think is just putting sheets up and eventually we can show uh the Sec's reports on on all of our sheets as well which will be really cool. And then we have uh and our financials have been audited as well which is fantastic. They go through literally every single expense and they provide a statement of opinion going. It is of our opinion that these financials are accurate and it's Uh who is a DB DB McKinnon was our auditor So huge auditing firm, right? These are all big deals.

These are all a big deal and that all of it goes to the SEC So it's really really exciting. Uh, it's a it's a process that I'm very excited about and I think investors should be as well because I think we're like my my goal with Househack is my like. Kevin's goal is to make house hack so ridiculously I can't even spell it right now. ridiculously successful.

Uh, and this is not a guarantee right? And I'm going to say no guarantees obviously. uh I you know I don't get sued here but or like in trouble. but my goal is to make house hacks so ridiculously successful, then in the future if I want to build a rocket ship company. Okay, I'm just making this up.

Okay, but if I want to build a rocket ship company, other people will want to invest with me. Uh, because I've previously, uh, done well, right? That's that's my goal. So that's my vision and I just want to be as transparent as possible about the whole process like it's not going to be easy. It's going to take a lot of work and people are like, well, why? why why you know why buy a jet? You just want a luxury lifestyle but people who say that don't understand who like what what I'm about I work like crazy and all I do is work more I go to sleep and I dream about work I wake up at 3 30 in the morning to work hard and provide value on.

YouTube then I go team build. then I go fly around and try to be the best expert and asset that I can basically to house hack for free not charging a salary. the plane isn't being built to house hack house hacks. Getting all these assets for free.

The risk mitigators. It's insane. Now that might change at some point in the future. Like yeah, who knows.

Uh yeah. and and the reason for example, something like what if what if for example, every investment that Kevin has personally made loses all of its money and uh, and and Kevin's income goes to zero. everybody stops watching. Kevin Yeah, there are risks, you know, and and so it is a startup, right? So it's always worth noting.

there are risks. Uh, you know what if what if the wedge deal model doesn't work? I mean I don't see that not happening I don't see that failing. But of course there are risks and everybody who would invest in househack needs to be a big boy and Buddha or a big girl and put on their big boy and big girl pants and realize there are a lot of risk mitigators. but there are risks you know I'm not I'm not ever going to say that they're a a real A any kind of startup investment is is risk-free It's absolutely not.

But uh, I'm I Could not be more excited about our path, especially what we've developed in the last few weeks in terms of of our course for what we're launching for the reggae. in other words, our path forward. uh, and our plans for it's going to be really, really exciting. and I'll give you a spoiler alert.

The spoiler alert is we expect the cash flow that we're going to be able to generate at House Hack and the way we're going to be able to mitigate our Opex is going to be remarkable. Uh, we think there are ways, uh to substantially prevent, uh, the need to raise future money for a househack while potentially exponentially expanding cash flow. Uh, and and creating something that hasn't been created before? Again, no guarantees. But we'll We'll provide the full roadmap and I think a lot of people are gonna go.

Oh damn like that does make sense. The model has been done before in the Solar industry. It has not been done before in the real estate industry. So the model exists and it's really, really, really lucrative.

So this is why I'm so excited. Um, but anyway, that uh is a breakdown right now. the minimum for an investment into House Hack is 25 000. you have to be an accredited investor.

You can become an accredited investor by going to Househack.investready.com or just go to Househack.com to learn more. You get your accredited letter, you upload it, You can vest when the reg A comes out. You will not have to meet the rules of being an accredited investor uh, which is generally 250 000 income. uh, as an individual I Believe it's 300K as a couple or you can qualify on the basis of net worth which is a little more complicated for non-accredited investors.

We uh, we would expect that. uh, the minimum Investments probably going to be somewhere around ten to fifteen thousand dollars I haven't precisely determined that yet and we cannot accept Bitcoin or Ethereum. sadly. uh, someone of you was asking that here.

Unfortunately, the SEC is not a big fan of funds taking money in Bitcoin or Ethereum, so that's uh, that's that's not something that's going to be possible for the time being. Uh, if other people have questions, what I'm going to do is I'm just going to open up the chat here to anyone. So if you have questions, feel free to ask. But uh yeah, I'll just be very clear.

Very, very exciting. Uh Mr Futt says no diluting investors over and over. Great plan I mean I think that's necessary because again, what's Kevin's goal? it's Kevin wants to make it clear to to the people who are taking that leap of faith in Kevin that Kevin's doing the right thing for the investors like that's always so important. Do you think there's a ceiling on Wedge deal? A point where it becomes difficult to scale? No.

That's honestly what's so exciting too. In 10 years, we could be doing this internationally. The The: The potential here is unlimited. There's there.

It is. So unlimited At this point it is absolutely ridiculous. So ridiculous. Any issues with investing from Canada No if you're an accredited investors, you can invest in Canada You can invest from whatever country you want I Don't care, your money's green.

doesn't matter to me. Will House Hack be investing in? Dallas Maybe. Will I be able to invest from Saudi Arabia Of course. yeah, you can invest internationally.

You could absolutely invest internationally. Uh, as long as you meet the U.S accredited rules, you can do it. Now the benefit of you investing now is you get more. Basically, call options.

They're not really call options. It's a little bit more complicated. Just go to Househack.com the valuations one to one. so it's whatever we we raise as the valuation.

Uh, let's see. I'm trying to I Want to remember what our, uh, how what the warrants were I Want to say it's yeah, fun before January 31st to receive 20 free bonus warrants. But if you're a course member, you'll get 30 free bonus ones that'll be at zero by March 31st unless your course member. then at least you get 10 percent.

So okay, looks like there's a lot of Q A on this. You cannot get exposure to House Hack through an ETF Unfortunately because ETFs can only invest in public companies and House Hack is not public. Um, uh, let's see here. I wish I could invest in Househack I'll be supporting from afar I appreciate that while I learned from the courses that I purchased well, thank you for for that.

That's awesome. Dang, when the reggae minimum was 5 000 I was in. If it's 10K I gotta be out, it might be 5K So it just depends. TBD I have no idea what your 25 000 will turn into I Hope a lot of money, but I can't guarantee that I see your shout outs here on South Carolina That's awesome warrants for Reggae investors.

Probably the only warrants for Reggae investors would be 10 of your course member which is better than nothing. A lot of people, a lot of our investors by the way, right now are course members. Like I said, and it's either because of the warrants or because they they just love the course. I don't know.

uh, but um, for accredited. Okay, you're gonna think I'm crazy saying This I Promise You I did not make this number up but I'll tell you exactly how many investors we have and then you could sort of divide the average investment. but this is insane. I'm going to put this number on screen.

Okay I I promise you I'm not making this number up. my CPA told me this and I almost started dying laughing. This is how many investors accredited investors we have right now. The numbers on screen which if you divide about 23 million by that number which is 420.

you get to an average investment per investor of 54 761 dollars per average. Can't make it up. pretty funny. We actually we were at 4 23 but three people couldn't Uh, they could.

they sent money but they ended up not being accredited so we had to send their money back. It was like a hundred fifty thousand dollars. It might have been 160. it was like 100 something we had to pay back.

Uh and that was. uh. that brought us to 420. Imagine if the average investment was 69k, you know y'all gotta pump it up man.

Uh uh. Goldman Sachs Just released a list of the top four cities that will fall the most. Austin San Diego and Phoenix yes those are on my radar El Paso in the house. Uh, that's awesome.

Good yeah. Good commentary here. You should come visit homes from course members that you reviewed in escrow over the year. that would be, so that would be really cool.

When could investors expect to see a return? Yeah, so potentially sooner than we expected. So originally and this is I can't guarantee this right? But originally we said that we would not offer any kind of return until we IPO with our new model, we might be able to start paying out dividends substantially faster than we expected. Uh, if if our cash cow turns out to be the cash cow we expect probably will pay out dividends if it works. So I want to be very clear if our Vision Works which is not a guarantee I am not guaranteeing you any money, I'm guaranteeing you nothing.

Please don't sue me in the future saying I promised you the Moon I'm Okay, I'm making this very clear I'm very optimistic, but if our plan works well, we will probably pay what could be substantial dividends. Uh, or let me rephrase that we may pay what could be substantial dividends, but no guarantees. So so in other words we would be shifting away from the idea of you not seeing any return until the IPO uh which I think is another good for investors. It's very different from uh, like the cardone's pure Syndicate model.

uh I I think Cardone Syndicate model is very nice for Grant Cardone very nice for Grant Cardone Um, but uh, hey, you know what? Don't hate the the player right? The The Syndicate model is what it is and and people can read the prospectus and know what they're getting into and and people should. But um yeah, I think the fees are a little excessive on some of the fees. Uh, on on The Syndicate model. Uh and look I have no qualms with Cardone people always like oh you know first you bagged on Cardone and now you don't It's like no I I'm still upset that Cardone for years has told people don't buy a single family home I think that was criminal I think it was criminal to tell people it.

obviously it wasn't okay I'm just saying that and I'm just not me trying to bag on my competition I actually think he's he's changed his opinion right and so I give him credit where credit is due. I think Cardone has changed his position and now he tells people it's equated by single family homes. But my original qualm was with him was he said you can't make money on single family homes and I'm like you're nuts. You make a lot of money on single family homes and anybody who didn't buy a single family home.

Listening to Cardone between 2010 and 2020, you know one lost a lot of money not investing in single family real estate, you know. And if now I don't know I don't watch it. But if he's changed his opinion and to say that hey, it's okay for you to buy a single family home, then good uh IPO Time frame. um, hopefully six to eight years or with I I Really, my goal is to do so before the end of the decade.

Oh my. God it's not anything near open door open door is flipping homes. Uh, with high selling fees and high Market risk we would be very very far away from that. Would you start a Househack app to compete with Redfin and Zilla unlikely because I don't think there's a lot of money in doing uh website listings.

There are a lot of companies that do that and they make no money in that. I Wanna listen? My goal with Househack is to make money for everyone I Want I want to make lots of money and I want my investors to make lots of money. It's that simple. like it's all driven by Dallas If I do well, you do well.

I I expect to ever only get paid in in stock and with massive lockups after IPO uh and uh and and obviously a return on the stock that I invested alongside you at the same valuation. So you know whether I invest a million or two million or five million dollars. Whatever it is, it will be invested at the same valuation as you and I think that's that's very fair. Uh, that's that's also very rare.

Will Househack rent the jet from Kevin's Media company? I Don't expect so uh, it's possible if that becomes uh, if if that becomes uh, reasonable ever It's very difficult to say that's anywhere close to reasonable now. So I don't expect anywhere near the near future. We, you know it. and if ever, it would have to be billed at such extremely low rates that the media company would still be eating the bulk of the cost right? Like.

It's very reasonable to say hey, if you have nine people on a plane who are actually working in real estate and actually need to be somewhere that you could build the equivalent of commercial tickets and and hotel fees, but those would be very nominal to the point where it's just not even worth thinking about that. I don't expect anything like that in 2023. Uh. and I I Hope that never is necessary.

So I don't expect that? No, uh, but but uh, you know, could there be some kind of nominal reimbursements in the future? of course. But that would be very reasonable, right? Uh, All right, hold on one second here. why not focus on House Hack at this point is the channel to get a well? sure I mean okay, so then people ask me like why why still focus on YouTube YouTube's the top of the funnel YouTube is how we find investors YouTube is a free benefit and perk for househack and it will be a future uh, it might or it may be a future cash flow generator for for househack YouTube is also uh, what pays for my ability to fly around and actually run the company at note right at this point at no cost to House Hack, right? Why would I give away that? I I Wouldn't International investors can today invest in Hell Sac Absolutely Absolutely. Elite Hustlers University gives a lot of Step by steps for starting a business from scratch I Don't know that we've built it in like in like the perfect like here's your one one step one to ten plan.

but there are videos where I go through step by steps for starting businesses but there are many of them so it's really fun. What househack Consider buying for for directly from Builders Potentially yeah, but it it will. We'll see. Um see.

I Don't care if the US dollar goes bust in my lifetime because we're going to own assets, we're going to own real estate. No, we're not going to use chat GPT to buy homes I Don't think that I would uh take a buyout offer from How for house hack because I want house hack to go public? That's what I like I Want to ring the bell with helsack? Can you really quickly explain how how SEC differs from Open Door Uh well you're gonna I mean look. Open Door buys homes thousands of homes and then flips them on the market and they suffer from massive a horrible purchases up front. They're not buying wedge.

Deals They have a very clear mission statement: buy homes from people off market and even if they make zero wedge on the deal, they flip it back on the market to try to make the open door six percent fee. But in doing so, they entertain massive Market risk. What if between the time you made an offer and the time you sell home, prices were down 20 like they are in Phoenix? Well, they take the L and that's why they potentially face massive bankruptcy risk. They have an extremely risky business model.

Their business model is so risky that they actually, well, they have no intention of ever buying and holding real estate which would diversify their risk and lower their risk. But they also are now thinking about potentially just becoming a platform for being the middle person. Oh, you know we'll just give leads to people who want to buy them and exchange them for like a small fee. They have no idea what they're doing I'm I'm sorry Open Door is so lost because they're losing so much money.

All you have to do is look at their financials and I could be very clear that we will do the opposite of everything. Open Door is doing it that way. Yeah, that's at least the expectation. Uh, let's see here.

warrants, cash in on warrants will probably be I should say maybe 2024. So we'll probably close out the reg A and all the funding opportunities this summer. So between March Well, I should say probably between May and July and then we'll then we'll be removed from anybody being able to invest in house Hack and then we turn into an operating company. uh, and and then the next uh, basically opportunity for those call options essentially being deployed would be uh, probably 24.

Okay, I've answered it like 27 times. But and I apologize. Maybe you joined late, but yes, International Investors can already invest in House Hack. I Would love to replace BlackRock and Invitation Homes with House Hack.

Uh uh, Do you need us 20 a series? 24 on your team right now? we're not hiring, but in the future we will be hiring a lot. How? Sac I Do not expect to be a Reit House Hack? I Expect to be a hopefully a very profitable operating company? Uh, House Hack will Not be read. House Hack could create REITs kind of like Blackstone does or whatever and uh, and benefit from managing those wreaths, right? But uh, Househack itself is unlikely to be a read. There is no ticker symbol for PP uh or sorry.

I meant to say house Hack. There's no ticker symbol for House Hack. Um, Anyway, that is a full breakdown on everything that is going down with Househack. Hopefully that was very insightful to you.

Uh, what's your vision or scale you believe you'll get to with Househack with a five to ten year outlook? I Don't know. Um, we'll have to sit down and really do some projections on that. There are there are ways that it could scale substantially faster than we expect that it could. Uh, and then there are ways that that that scale could be limited and that's going to in part depend on the market that that will become a lot more clear.

Let me put it this way: worst case scenario: we have a lot of great wedge deals that were up on at Equity. That's sort of. That's my belief of a worst case scenario. Obviously, worst case scenario is you lose all your money.

That's the real worst case scenario. but sort of. Our bear case is we have a lot of great properties with great cash flow and substantial equity and great wedge deals. That's the, that's our bear case are bull cases.

We could take hopefully about the 50 mil that we've raised and turn it into this money printer. Basically where we're able to pull out, you know, eight million dollars out of a hat. Uh, once a year, then twice a year, then four times a year. Then then and I just have this flywheel going of of massive cash flow so we do not have any idea what's going to happen, but that's sort of a a bare bull case and then that would obviously lead to dividends, uh, or or whatever.

BuyBacks Whatever we want to do I Have no idea.