v3.25.2
Summary of Significant Accounting Policies (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Summary of Significant Accounting Policies [Abstract]    
Schedule of Estimated Useful Lives by Asset The estimated useful lives by asset classification are generally as follows:
 

Estimated
Useful Life

Furniture and fixtures

 

3 – 7 years

Office equipment

 

3 – 5 years

Vehicles

 

5 years

The estimated useful lives by asset classification are generally as follows:
 

Estimated
Useful Life

Furniture and fixtures

 

3 – 7 years

Office equipment

 

3 – 5 years

Vehicles

 

5 years

Schedule of Disaggregated Revenue

The following table provides information about disaggregated revenue by revenue stream.

 

Three Months
Ended
March 31,
2025

 

Three Months
Ended
March 31,
2024

Real estate service revenue

 

 

   

 

 

Real estate agency commission

 

$

211,517

 

$

207,382

Property management service

 

 

1,767

 

 

5,752

Home renovation service

 

 

9,952

 

 

2,200

Mortgage referral fee

 

 

6,300

 

 

4,050

Total real estate service revenue

 

 

229,536

 

 

219,384

Revenue from property purchases and sales through Cash Offer

 

 

5,479,890

 

 

924,544

Total revenues

 

$

5,709,426

 

$

1,143,928

The following table provides information about disaggregated revenue by revenue stream.

 

Year Ended
December 31,
2024

 

Year Ended
December 31,
2023

Real estate service revenue

 

 

   

 

 

Real estate agency commission

 

$

781,351

 

$

261,705

Property management service

 

 

16,276

 

 

17,225

Home renovation service

 

 

245,226

 

 

8,353

Mortgage referral fee

 

 

4,050

 

 

13,500

Total real estate service revenue

 

 

1,046,903

 

 

300,783

Revenue from property purchases and sales through Cash Offer

 

 

6,568,404

 

 

1,069,072

Total revenues

 

$

7,615,307

 

$

1,369,855

Schedule of Segment Revenue, Segment Profit or Loss, and Significant Segment Expenses

The following table presents the segment revenue, segment profit or loss, and significant segment expenses included in the measure of segment performance for the three months ended March 31, 2025 and 2024:

 

Three Months
Ended
March 31,
2025

 

Three Months
Ended
March 31,
2024

Segment revenues(1)

 

$

5,709,426

 

$

1,143,928

Less:

 

 

   

 

 

Cost of revenues

 

 

5,447,509

 

 

915,662

Segment gross profit

 

 

261,917

 

 

228,266

Less:

 

 

   

 

 

Payroll and payroll tax expenses

 

 

52,107

 

 

46,325

Legal and accounting expenses

 

 

40,126

 

 

86,379

Rent expense

 

 

12,050

 

 

11,520

Other segment items(2)

 

 

40,240

 

 

5,951

Depreciation and amortization

 

 

4,639

 

 

4,651

Interest expense

 

 

682

 

 

800

Income tax expense

 

 

31,444

 

 

32,348

Segment net income

 

$

80,629

 

$

40,292

   

 

   

 

 

Reconciliation of profit or loss

 

 

   

 

 

Adjustments and reconciling items

 

 

 

 

Consolidated net income

 

$

80,629

 

$

40,292

(1)      Segment revenues represent revenues from external customers and are consistent with consolidated net revenues as reported in the Company’s consolidated statements of income. The Company had no intra-entity sales or transfers for the periods presented.

(2)      Other segment items include marketing expenses, business license expenses, office expenses, and other overhead expenses.

The following table presents the segment revenue, segment profit or loss, and significant segment expenses included in the measure of segment performance for the years ended December 31, 2024 and 2023:

 

Year Ended
December 31,
2024

 

Year Ended
December 31,
2023

Segment revenues(1)

 

$

7,615,307

 

$

1,369,855

Less:

 

 

   

 

 

Cost of revenues

 

 

6,144,926

 

 

1,117,770

Segment gross profit

 

 

1,470,381

 

 

252,085

Less:

 

 

   

 

 

Payroll and payroll tax expenses

 

 

166,051

 

 

50,082

Legal and accounting expenses

 

 

99,363

 

 

12,267

Rent expense

 

 

46,572

 

 

15,114

Other segment items(2)

 

 

48,930

 

 

14,495

Depreciation and amortization

 

 

18,762

 

 

6,042

Interest expense

 

 

3,115

 

 

967

Income tax expense

 

 

309,352

 

 

1,925

Segment net income

 

$

778,236

 

$

151,193

   

 

   

 

 

Reconciliation of profit or loss

 

 

   

 

 

Adjustments and reconciling items

 

 

 

 

Consolidated net income

 

$

778,236

 

$

151,193

(1)      Segment revenues represent revenues from external customers and are consistent with consolidated net revenues as reported in the Company’s consolidated statements of income. The Company had no intra-entity sales or transfers for the years presented.

(2)      Other segment items include marketing expense, travel expense, office expense, and other overhead expenses.

Schedule of Segment Assets and Expenditures for Segment Assets

The following table presents segment assets and expenditures for segment assets. Segment assets are reviewed on a consolidated basis and reflect total consolidated assets as reported in the Company’s consolidated balance sheets. Expenditures for segment assets include additions to long-lived assets.

 

March 31,
2025

 

December 31,
2024

Segment assets

 

$

3,429,954

 

$

3,429,513

 

Three Months
Ended
March 31,
2025

 

Three Months
Ended
March 31,
2024

Expenditures for segment assets(1)

 

$

 

$

2,463

(1)      Expenditures for the three months ended March 31, 2024, included purchases of office equipment ($1,082), furniture ($982), and a trademark ($399).

The following table presents segment assets and expenditures for segment assets. Segment assets are reviewed on a consolidated basis and reflect total consolidated assets as reported in the Company’s consolidated balance sheets. Expenditures for segment assets include additions to long-lived assets.

 

As of/Year
Ended
December 31,
2024

 

As of/Year
Ended
December 31,
2023

Segment assets

 

$

3,429,513

 

$

839,945

Expenditures for segment assets(1)

 

 

3,513

 

 

93,300

(1)      Expenditures for 2024 include purchases of office equipment ($1,082), furniture ($982), and trademarks ($1,449). Expenditures for 2023 include a vehicle ($88,028), furniture ($4,343), and office equipment ($929).