A Complete Update on the Vanguard of Real Estate: HouseHack

well it's time for an update on house

hack my real estate startup I call it

the Vanguard of real estate the reason I

call it the Vanguard of real estate is

because house hack is really a lot more

than some company that's just going to

buy real estate obviously that is going

to be heavily involved we're going in

what we're doing because the mission is

to take hoarder homes or vacant homes or

homes where basically people can't live

they get red tagged out of them like

they're not possible to be rented or

sold to people which means they're

actually missing from the housing stock

raising prices elsewhere we're trying to

renovate those and bring them back to

the market and while retaining

management of those that's that's the

whole idea uh of taking properties that

are in distress being able to provide

value to those and by providing value to

those making money we're not planning on

Flipping any properties what we're

planning on doing is setting up

something that would create 8 house hack

as sort of like a think like a a black

stone or Vanguard or even Berkshire

Hathaway where househack is kind of the

upper umbrella layer and in the future

we can have different entities or funds

within house hack and so somebody who's

investing in house hack is investing in

that umbrella layer of whatever we end

up doing to try to bring basically

democratized access to real estate to

everyone so it's really about a

seven to ten year plan that's I think

it'll probably take about seven to ten

years to where we can build this company

out and my dream would be to IPO house

hack in seven to ten years you know New

York Stock Exchange unless the NASDAQ

convinces me I don't know but we'll see

and so in doing so we have uh We've

really been uh preparing uh for getting

started with Acquisitions and really

creating our own products

uh and uh we're we've since we launched

in September of last year we've been of

the mindset that the best time to buy

could potentially be you know we won't

know with certainty until probably

longer term future but could potentially

be Q3 to Q4 of 2023 and that's actually

just now the beginning of Q3 and uh

going into Q4 uh I think this winter

will be really interesting because I

think we're going to see this Confluence

of pain in the short-term rental market

uh the pain of investors who aren't

getting the cash yields they used to get

maybe because they have variable loans

some of the investors do especially the

interest only apartment building aside

and I think there are going to be

opportunities for house hack in many

different areas not just single family

but also multi-family and potentially

commercial though that's not the biggest

priority for me because I think there's

more money to be made right now in

single and multi uh so we'll see but uh

we'll do whatever we can to make as much

money as possible and uh what we'll

probably do is take a very patient

approach to acquiring real estate uh

starting uh now really and uh you know

we've got about uh right now in the

liquid about 27 mil and we have our

non-accredited uh fundraising round

coming up in uh probably we're waiting

for a finra no objection letter which

basically allows us to raise money in

States like Texas and Florida as well

we've already gone through the SEC

process so that's already done in fact

you can already read the house hack

filing by going to sec.gov and typing in

house hack and you can read the

prospectus and the solicitation there

I'm just kind of giving you a pre-update

here right so like I'm not trying to

like sell you Securities here just read

that but or you could also just wait

until we actually launched but the

non-accredited did round is really cool

because it basically means anyone can

invest in house hack you don't have to

be an accredited investor you don't have

to have a big net worth you don't you

know anything basically there are some

requirements but they're they're a lot

more relaxed compared to the accredited

investor standard which is really cool

because we'll have the same one-to-one

valuation for people to invest and a lot

of people ask me they're like Kevin why

would you do that like why would you

raise money at a company at a one-to-one

valuation most people are like oh you

know we're raising uh you know 20

million dollars at a 200 million dollar

valuation is usually how people would do

it right so you're like diluted 90 and

so

this is just my long-term belief I'm 31.

I think I have a long time to go on Wall

Street and in markets and providing

value to you and my thinking is if I can

give back to the subscribers and the

course members and the supporters now

then and we could do really well with

househack obviously no guarantees but we

can do really well over the next seven

to ten years then

then I'm like 38 or whatever right

whatever I do between 38 and like 70 or

80 you know make it to their knock on

wood will be a lot easier because it's

like hey here's a new Venture what do

you think about this

and I'll have taken care of so many

people and had such a strong track

record that's that's my vision so uh

that's that's why we're raising the way

we are we're really excited about uh our

vision of creating I mean really I think

the best analogy for house hackers think

of think of Vanguard and imagine you

could invest not just not like in an

individual Vanguard fund but in the

actual company itself think about it

that way that's that's the way I kind of

look at uh house hack and so I'm really

excited about that and uh we've got a

really really great team uh I've been to

probably somewhere around

50 different cities over the last year

about a hundred different flights

already it's worth noting that uh to

date uh house hack has paid zero of uh

the air travel fees for my plane gas

Pilots none of that I'm covering all of

that I'm doing that because obviously I

have a plane but I have a plane for my

personal reasons I want to be able to be

back with my family we're expecting to

double if not even more our family here

within the next year

yeah that's a hint Lauren's gonna get

mad at me so don't

pretend I didn't say anything but anyway

uh which so like I I need to be a dad

too so uh that's uh that's uh been been

my uh my goal so far is just cover

everything plane related which is great

because it gives us a lot of fluidity uh

for example I'll just give you sort of

an insight into how functional this is

uh yesterday we actually wrote an offer

on a property that was a hoarder house

uh it's probably somewhere around 175

000 under market value I think they

listed at about 200k under but it's

about a 175 under uh compared to I guess

probably more like 180 85-ish under uh

from from where we think you know a

reasonable purchase price is now and

that property came up yesterday at like

11 A.M uh we're going to look at it

today in in it's in a different state

but we already have a commitment to be

in another state this morning so like

we'll be in one place this morning

that's you know an hour flight away and

then in the afternoon we're flying an

hour over to the other area to uh you

know potentially sign off on our

contingencies on this this acquisition

and then I'll be able to be home uh

before bedtime which is kind of cool so

uh those those I think are very uh very

useful and and functional things uh for

not only the business but also me being

able to train people who are going to be

in in different localized markets so

we're uh we're quite excited about how

everything is coming together and uh uh

setting up so uh very very very excited

Josh here says found you in early 2020

been an avid following course member

ever since strong desire to learn

exactly how to invest my own and you

were what I needed to learn oh thank you

for that really appreciate you saying

that yeah worth noting that uh regarding

when we might be able to invest uh in

the uh in in house hack it should be

about two to three weeks

uh which is very exciting uh very very

exciting so two to three the really the

goal is by

September 1 so stay tuned for that

that's is how Zach is back no no no no I

was like he's a notice back oh my gosh I

like I hate the like the crazy

projections and stuff you see in specs I

mean you all know that we actually don't

even do projections for househack we're

like you know we've been very clear from

day one with house act we're gonna buy

and hold real estate and we might

selectively Syndicate or uh uh or

securitize that uh that's basically a

way of saying the Vanguard of real

estate right uh and that just enables

more growth and hopefully higher returns

which uh which is very exciting so uh

the the vision's really been the same

since day one I but I don't know that I

like I wish when we first talked about

it back in September I thought of the

analogy that we use now the Vanguard of

real estate but uh but basically the

premise is exactly the same so we're

very excited about that so stay tuned

and I know some people uh show how

psychology I'm pretty sure you could you

could see our audited balance sheet if

you go to house

um what's it called if you go to the

scc.gov's website we'll do that right

now

scc.gov can non-course members buy house

like yeah exactly yeah you can soon so I

know some people are going to hear house

hack stuff and they're like oh you know

another Corporation or whatever trying

to buy a real estate you know I think

we're going to provide amazing value

we're going to have incredible we're

going to add to the Rental Supply I

think we're going to do an amazing job

for people people have to rent

properties uh you know everybody's gonna

have their opinion uh this I I'm not

going to be able to please everybody and

I've come to accept that

so uh as much as I try my best to okay

so if you go to the sec.gov and you just

type in househack

you'll actually see all of these

different filings here from uh July 20th

I think is this it that's the actual

filing with the Edgar system this is the

subscription agreement where is the

actual file here it is so here's the

actual filing so you can open the dock

ah

the Edgar system is a little funny there

it is and I believe the financial

statements are right here

yeah there you go so here are the

financial statements

uh and uh this is the balance sheet

uh some revenues here from

um treasuries or whatever

uh and so on

so yeah so it's all here and these are

audited I think as of

this is as of December so it's worth

noting that these these uh figures uh

you know we have more uh now than we did

in December because we finished our

fundraise in March

so worth noting that

so anyway you know there's a there's a

house hack update for those of you who

have been asking and uh where you can

access uh the latest and greatest info

in the goodies so uh all right that uh

that does it for the house hike segment

thank you so much and again stay tuned

you can uh oh yeah you can sign up at

househack.com if you want to receive a

notification for when we actually go

live for when we start raising funds by

the way househack.com he still has to

flip homes no I uh I do housing

developments at some point in the future

we'll do housing

um developments maybe uh and uh he has

to flip house we don't expect to sell

any houses on the open market really

ever can you buy fractional shares of

house hack well the shares are gonna be

like we're selling shares for a dollar

so hopefully you don't need fractional

shares quick additional questions that

came up uh number one how many employees

does househack have right now

technically right now has high has a one

contracting company that is uh our

investor relations it's basically our

CPA our you know uh they put together a

register or transfer age all that sort

of stuff uh they're amazing they're both

CPAs they're phenomenal people they do a

great job shout out to Kathy and Bob uh

Bob Bob's also a board member then we

have uh one uh person on payroll who

does uh our uh wedge finder app that

house hack wholly owns and that's it it

come when we start operating which it

will probably be now like especially

since you know now we're now we're

getting to where we're writing offers

we're going to just move people over

from other companies so we would expect

that by the end of the year we'll be

closer to about 10. the cool thing is

these are already people that I have

trained that I've vetted they're working

for other companies of mine now and

they'll move over which is really great

because then we don't have that sort of

learning curve they've already been

trained they've already been educated

they're already good so we could have a

you know contract coordination crew

licensed contractor on the on the team

of of an additional four

um maybe deal analyzers and and agent

coordinators of somewhere between four

to five to six different people so

that's probably how we're going to get

to 10 pretty quickly we haven't needed

that for the last year so I thought okay

well it's it's not fair to put those

payroll costs on house hacks so so we

haven't been a house hack with the idea

of it being sort of the Vanguard of real

estate just like in the first offering

it it's not expected to be a dividend

play right maybe the individual like

offerings or whatever that it might have

in the future uh maybe those would but

it's it's not something that's a

priority right now minimum investment

for non-accredited and how stock will

probably be ten thousand dollars uh to

get started so stay tuned for that and

10 000 probably around September 1st

we're probably only going to do it for

like a 30-day Run Race I I really hate

fundraising because it's a pain in the

butt that's a lot of work it creates a

lot of regulatory you know headache just

making sure everything is perfect all

the time and I'd rather focus on

actually operating than sitting around

trying to like sell stock so we'll

probably have like a 30-day window and

that's it so that'll probably be

September yeah and I know some people

are like oh you know how is it a company

with one employee what I mean like

obviously I count but I'm not a paid

employee like you're investing in my

vision for the company right and I could

go like this and we're at you know 10

employees I'd go like this and we're at

15 employees but I'm not doing that

because I'm not putting the cost on that

company because it's not fair to do that

so like anybody who's like my employee

account is too low

okay now I want you to know this when it

comes to AI time is what's going to make

you money and if you can prove that

value to an employer you'll always be

able to be employed so this is another

way of making sure that you don't get

replaced by artificial intelligence if

you can Master AI by starting on the

ground floor

let's go