Form 10-Q - Quarterly report [Sections 13 or 15(d)]

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: September 30, 2023

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File No. 000-55611

Hubilu Venture Corporation

(Exact Name of Registrant as Specified in its Charter)

Delaware

47-3342387

(State or other Jurisdiction of

Incorporation or Organization)

(I.R.S. Employer

Identification No.)

205 South Beverly Drive, Suite 205

Beverly Hills, CA

90212

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (310) 308-7887

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§230.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated file,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐		Accelerated filer ☐
Non-accelerated filer ☐ (Do not check if a smaller reporting company)		Smaller reporting company ☒

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		HBUV		OTC Pink

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section l2, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

Yes ☐ No ☐

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: As of November 8, 2023 the number of shares outstanding of the issuer’s sole class of common stock, $0.001 par value per share, is 26,237,125.

TABLE OF CONTENTS

PART I – FINANCIAL INFORMATION	3
Item 1. Financial Statements	3
Consolidated Balance Sheets	3
Consolidated Statements of Operations	4
Consolidated Statements of Changes in Stockholders’ Equity (Deficit)	5
Consolidated Statements of Cash Flows	6
Notes to the Consolidated Financial Statements	7
Item 2. Management’s Discussion and Analysis of Financial Conditions and Results of Operations	14
Item 3. Quantitative and Qualitative Disclosures about Market Risk	16
Item 4. Controls and Procedures	16
PART II — OTHER INFORMATION	17
Item 1. Legal Proceedings	17
Item 1A. Risk Factors	17
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	17
Item 3. Defaults Upon Senior Securities	17
Item 4. Mine Safety Disclosures	17
Item 5. Other Information	17
Item 6. Exhibits	17
SIGNATURES	18

Part I – FINANCIAL INFORMATION

Item 1. Financial Statements

HUBILU VENTURE CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

	September 30, 2023			December 31, 2022
	(Unaudited)
ASSETS
Current assets:
Cash	$	17,506		$	92,068
Total current assets		17,506			92,068

Property and equipment:
Land		11,800,304			11,800,304
Building and capital improvements		5,785,007			5,458,695
Property acquisition and financing		298,704			296,463
Less: accumulated depreciation		(735,426	)		(564,647	)
Total property and equipment, net		17,148,589			16,990,815

Security deposits		6,600			6,783

Total assets	$	17,172,695		$	17,089,666

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

Current liabilities:
Accounts payable	$	10,987		$	-
Advanced rents received		5,087			-
Accrued interest		14,792			9,415
Security deposits payable		269,819			246,669
Due to related party, current maturities		474,271			474,271
Mortgages payable, current maturities		890,077			604,744
Dividends payable		172,922			153,514
Total current liabilities		1,837,955			1,488,613

Promissory notes, related parties		-			89,593
Mortgages payable		15,607,736			15,883,637
Preferred shares payable		520,400			520,400

Total liabilities		17,966,091			17,982,243

Stockholders’ equity (deficit):
Common stock, $0.001 par value, 100,000,000 shares authorized, 26,237,125 shares issued and outstanding		26,237			26,237
Additional paid-in capital		861,210			821,981
Accumulated deficit		(1,680,843	)		(1,740,795	)
Total stockholders’ equity (deficit)		(793,396	)		(892,577	)

Total liabilities and stockholders’ equity (deficit)	$	17,172,695		$	17,089,666

See accompanying notes to financial statements.

HUBILU VENTURE CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

	2023			2022			2023			2022
	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2023			2022			2023			2022

Rental Income	$	473,105		$	358,146		$	1,308,041		$	1,141,886

Operating expenses:
General and administrative expenses:
Salaries and benefits		17,200			15,100			48,800			64,475
Utilities		10,003			16,080			35,888			48,665
Professional fees		13,476			10,769			68,032			53,016
Property taxes		43,752			41,060			135,113			146,251
Other general and administrative expenses		26,228			19,655			75,647			136,516
Total general and administrative expenses		110,659			102,664			363,480			448,923
Depreciation		57,775			54,047			170,779			153,561
Total operating expenses		168,434			156,711			534,259			602,484

Net operating income		304,671			201,435			773,782			539,402

Other income (expense):
Other income		-			-			-			29,800
Interest expense		(242,631	)		(243,698	)		(713,830	)		(691,333	)
Total other income (expense)		(242,631	)		(243,698	)		(713,830	)		(661,533	)

Net income (loss)	$	62,040		$	(42,263	)	$	59,952		$	(122,131	)

Weighted average common shares outstanding - basic		26,237,125			26,237,125			26,237,125			26,237,125
Net income (loss) per common share - basic	$	0.00		$	(0.00	)	$	0.00		$	(0.00	)

Weighted average common shares outstanding - diluted		26,268,349			26,237,125			26,268,349			26,237,125
Net income (loss) per common share - diluted	$	0.00		$	(0.00	)	$	0.00		$	(0.00	)

See accompanying notes to financial statements.

HUBILU VENTURE CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)

(Unaudited)

	Shares		Amount		Capital		Deficit			Deficit
	For the Three Months Ended September 30, 2023
	Common Stock				Additional Paid-In		Accumulated			Total Stockholders’
	Shares		Amount		Capital		Deficit			Deficit

Balance, June 30, 2023		26,237,125	$	26,237	$	847,990	$	(1,742,883	)	$	(868,656	)

Imputed interest		-		-		13,220		-			13,220

Net income		-		-		-		62,040			62,040

Balance, September 30, 2023		26,237,125	$	26,237	$	861,210	$	(1,680,843	)	$	(793,396	)

	For the Three Months Ended September 30, 2022
	Common Stock				Additional Paid-In		Accumulated			Total Stockholders’
	Shares		Amount		Capital		Deficit			Deficit

Balance, June 30, 2022		26,237,125	$	26,237	$	792,218	$	(1,706,377	)	$	(887,922	)

Imputed interest		-		-		16,816		-			16,816

Net loss		-		-		-		(42,263	)		(42,263	)

Balance, September 30, 2022		26,237,125	$	26,237	$	809,034	$	(1,748,640	)	$	(913,369	)

	For the Nine Months Ended September 30, 2023
	Common Stock				Additional Paid-In		Accumulated			Total Stockholders’
	Shares		Amount		Capital		Deficit			Deficit

Balance, December 31, 2022		26,237,125	$	26,237	$	821,981	$	(1,740,795	)	$	(892,577	)

Imputed interest		-		-		39,229		-			39,229

Net loss		-		-		-		59,952			59,952

Balance, September 30, 2023		26,237,125	$	26,237	$	861,210	$	(1,680,843	)	$	(793,396	)

	For the Nine Months Ended September 30, 2022
	Common Stock				Additional Paid-In		Accumulated			Total Stockholders’
	Shares		Amount		Capital		Deficit			Deficit

Balance, December 31, 2021		26,237,125	$	26,237	$	775,755	$	(1,626,509	)	$	(824,517	)

Imputed interest		-		-		33,279		-			33,279

Net loss		-		-		-		(122,131	)		(122,131	)

Net loss		-		-		-		(122,131	)		(122,131	)
Balance, September 30, 2022		26,237,125	$	26,237	$	809,034	$	(1,748,640	)	$	(913,369	)

See accompanying notes to financial statements.

HUBILU VENTURE CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	2023			2022
	For the Nine Months Ended September 30,
	2023			2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$	59,952		$	(122,131	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation		170,779			153,561
Imputed interest		39,229			33,004
Cumulative preferred stock dividends payable		19,408			33,279
Decrease (increase) in current assets:
Security deposits		183			-
Increase (decrease) in current liabilities:
Accounts payable		10,987			179
Advanced rents received		5,087			-
Accrued expenses		5,377			18,222
Security deposits payable		23,150			63,437
Net cash provided by operating activities		334,152			179,551

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment		(328,553	)		(449,026	)
Net cash used in investing activities		(328,553	)		(449,026	)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds received from mortgages payable		102,100			633,195
Repayments on mortgages payable		(182,261	)		(539,637	)
Proceeds received from the sale of preferred stock		-			10,000
Net cash provided by (used in) financing activities		(80,161	)		103,558

NET CHANGE IN CASH AND CASH EQUIVALENTS		(74,562	)		(165,917	)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		92,068			203,738
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	17,506		$	37,821

SUPPLEMENTAL INFORMATION:
Interest paid	$	669,224		$	639,863
Income taxes paid	$	-		$	63,707

Non-cash investing and financing transactions:
Acquisitions of assets financed through debt	$	-		$	2,739,632

See accompanying notes to financial statements.

HUBILU VENTURE CORPORATION

Notes to the Consolidated Financial Statements

September 30, 2023

(unaudited)

NOTE 1 – NATURE OF BUSINESS

Hubilu Venture Corporation (“the Company”) was incorporated under the laws of the state of Delaware on March 2, 2015 and is a publicly traded real estate consulting, asset management and business acquisition company, which specializes in acquiring student housing income properties and development/business opportunities located near the Los Angeles Metro/subway stations and within the Los Angeles area.

NOTE 2 – BASIS OF PRESENTATION AND ABILITY TO CONTINUE AS A GOING CONCERN

The accompanying consolidated financial statements include the accounts of the Company and each of its wholly owned subsidiaries: Akebia Investments LLC, Zinnia Investments, LLC, Sunza Investments, LLC, Lantana Investments LLC, Elata Investments, LLC, Trilosa Investments, LLC, Kapok Investements, LLC, Boabab Investments, LLC and Mopane Investments, LLC. All intercompany transactions have been eliminated on consolidation.

The financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) on the basis that the Company will continue as a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At September 30, 2023, the Company had not yet achieved profitable operations, had an accumulated deficit of $1,680,843 and expects to incur further losses in the development of its business, all of which casts substantial doubt upon the Company’s ability to continue as a going concern and, therefore, that it may be unable to realize its assets and discharge its liabilities in the normal course of business. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. Management intends to focus on raising additional funds either by way of debt or equity issuances in order to continue operations. The Company cannot provide any assurance or guarantee that it will be able to obtain additional financing or generate revenues sufficient to maintain operations.

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Preparation and Summary of Significant Accounting Policies

The accompanying unaudited condensed consolidated financial statements have been prepared by the Company in accordance with Securities and Exchange Commission rules and regulations and generally accepted accounting principles in the United States of America (“US GAAP”) and in the opinion of management contain all adjustments necessary to present fairly the financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

Reclassification

Certain reclassifications have been made to the prior years’ financial statements to conform to current year presentation. These reclassifications had no effect on previously reported results of operations or retained earnings.

Fair Value Measurements

The fair value hierarchy under GAAP is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:

Level 1	quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2	observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and

Level 3	assets and liabilities whose significant value drivers are unobservable by little or no market activity and that are significant to the fair value of the assets or liabilities.

Recent Accounting Standards

From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date.

Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

NOTE 4 - PROPERTY ACQUISITIONS - Related Party

As of September 30, 2023, we have not acquired any additional properties since the year ended December 31, 2022.

On January 1, 2023 we refinanced 2029 W. 41^st Place in Los Angeles. Terms of the refinance are as follows: (1) A first position note with payment on principal balance of $820,000 issued by the Property Owner, Boabab Investments, LLC, owing to lender, Belladonna Lily Investments, Inc., whose terms of payments due are interest only, on unpaid principal at the rate of 6% per annum. Interest only is payable in monthly installments of $4,100 or more starting on February 1, 2023 and continuing until the 31^st day of December 2029, at which time the entire principal balance together with interest due thereon, shall become due and payable.

In February 2023, we entered a three-month loan extension with Center Street Lending on 1733 W. 37^th Place with a due date of June 22, 2023. In June, we extended our loan to September 22, 2023. In October, we extended our loan again to December 20, 2023 with a new interest rate of 10.24%.

NOTE 5 - INVESTMENTS IN REAL ESTATE- Related party

The change in the real estate property investments for the nine months ended September 30, 2023 and the year ended December 31, 2022 is as follows:

SUMMARY OF CHANGES IN REAL ESTATE PROPERTY INVESTMENTS

	Nine months ended September 30, 2023		Year ended December 31, 2022

Balance, beginning of the period	$	17,555,462	$	14,255,927
Acquisitions:		-		2,739,632
Real estate investment property, at cost		17,555,462		16,995,559
Capital improvements		328,553		559,903
Balance, end of the period	$	17,884,015	$	17,555,462

The change in the accumulated depreciation for the nine months ended September 30, 2023 and 2022 is as follows:

SCHEDULE OF CHANGES IN ACCUMULATED DEPRECIATION

	September 30, 2023		September 30, 2022
Balance, beginning of the period	$	564,647	$	356,036
Depreciation charge for the period		170,779		153,561
Balance, end of the period	$	735,426	$	509,597

The Company’s real estate investments as of September 30, 2023 is summarized as follows:

SCHEDULE OF REAL ESTATE INVESTMENT

	Land		Building		Improvement		Depreciation		Encumbrances		Deposits		Costs
	Initial Cost to the Company				Capital		Accumulated				Security		Closing
	Land		Building		Improvement		Depreciation		Encumbrances		Deposits		Costs
3711 South Western Ave	$	508,571	$	383,716	$	86,853	$	113,871	$	643,585	$	18,194		-
2909 South Catalina		565,839		344,856		17,381		97,823		518,554		14,400		-
3910 Wisconsin Ave		337,500		150,000		88,833		42,157		682,735		16,000		28,444
3910 Walton Ave		318,098		191,902		130,991		43,224		531,803		11,000		-
1557 West 29th		496,609		146,891		50,522		29,496		596,801		7,500		14,251
1267 West 38^thStreet		420,210		180,090		43,816		35,514		598,675		11,000		15,701
1618 West 38th		508,298		127,074		14,732		18,478		629,300		12,000		-
4016 Dalton Avenue		424,005		106,001		66,217		22,589		602,534		7,350		27,678
1981 West Estrella Avenue		651,659		162,915		72,501		30,888		887,826		17,000		21,981
2115 Portland Street		753,840		188,460		5,063		25,028		904,617		8,125		-
717 West 42^ndPlace		376,800		94,200		-		22,814		470,435		1,350		-
3906 Denker Street		428,000		107,000		60,210		19,086		581,699		8,500		-
3408 S Budlong Street		499,200		124,800		55,298		18,352		721,352		-		-
3912 S. Hill Street		483,750		161,250		195,525		32,450		649,895		18,000		-
4009 Brighton Avenue		442,700		158,300		176,113		21,597		711,331		-		13,040
3908 Denker Avenue		534,400		158,300		123,922		18,453		623,086		4,500		20,243
4021 Halldale Avenue		487,500		162,500		45,189		14,836		757,294		18,000		37,234
1284 W. 38^th Street		551,250		183,750		1,663		14,838		828,301		12,000		16,623
4505 Orchard Avenue		506,250		145,776		189,293		22,739		640,292		18,000		27,037
3777 Ruthelen Street		559,200		139,800		31,927		13,306		702,053		13,900		11,019
3791 Normandie Avenue		480,000		160,000		7,000		16,834		758,891		12,000		27,394
2029 W. 41^st Place		540,000		180,000		141,030		32,442		820,000		19,000		15,742
4517 Orchard Avenue		453,750		151,250		101,601		19,385		631,453		10,000		8,853
1733 W. 37^th Street		472,875		157,625		12,841		9,226		670,301		12,000		13,464
	$	11,800,304	$	4,066,456	$	1,718,551	$	735,426	$	16,162,813	$	269,819	$	298,704

NOTE 6 – ADVANCED RENTS RECEIVED

The Company received $5,087 of rents in advance as of September 30, 2023. There was no rental income received in advance as of December 31, 2022.

NOTE 7 - PROPERTY INDEBTEDNESS

The Company’s mortgages are summarized as follows:

SCHEDULE OF MORTGAGES PAYABLE

	Principal Balance
	September 30, 2023		December 31, 2022		Interest Rate			Maturity Date
3711 South Western Ave	$	643,585	$	643,585		5.00	%		December 1, 2029
2909 South Catalina Street		428,961		436,939		3.10	%		August 12, 2046
-Second Note		89,593		-		6.00	%		June 20, 2029
3910 Walton Ave.		531,803		539,547		5.00	%		August 01, 2049
3910 Wisconsin Street		682,735		691,349		5.225	%		March 1, 2052
1557 West 29 Street		596,801		605,129		4.975	%		June 1, 2051
1267 West 38 Street		598,675		606,053		4.95	%		June 1, 2051
4016 Dalton Avenue		602,534		609,959		4.975	%		June 1, 2051
1618 West 38 Street
- First Note		479,300		484,883		6.30	%		January 1, 2050
- Second Note		150,000		150,000		6.00	%		December 10, 2023
1981 Estrella Ave		887,826		899,278		5.225	%		June 1, 2051
717 West 42 Place
- First Note		335,467		336,267		6.85	%		October 31, 2025
- Second Note		134,968		134,968		6.85	%		April 30, 2029
2115 Portland Street
- First Note		584,841		591,836		6.00	%		June 1, 2049
-Second Note		319,776		319,776		5.00	%		April 30, 2024
3906 Denker
-First Note		396,699		401,181		6.00	%		March 1, 2050
-Second Note		185,000		185,000		6.85	%		February 14, 2025
3408 Budlong
-First Note		601,352		609,626		4.875	%		December 1, 2051
-Second Note		120,000		120,000		5.00	%		November 1, 2029
3912 S. Hill Street
-First Note		497,895		503,094		6.425	%		December 1, 2050
- Second Note		152,000		152,000		6.425	%		November 1, 2026
4009 Brighton Avenue		711,331		720,010		4.875	%		November 1, 2051
3908 Denker Avenue		623,086		630,515		4.975	%		December 1, 2051
4021 Halldale Avenue		757,294		766,071		6.75	%		October 1, 2052
1284 W. 38^th Street
-First Note		640,301		648,605		4.625	%		March 1, 2052
-Second Note		188,000		188,000		5.25	%		June 20, 2029
4505 Orchard Avenue		640,292		648,282		5.00	%		October 1, 2029
3777 Ruthelen Street		702,053		711,326		4.625	%		March 1, 2052
3791 S. Normandie Avenue
- First Note		608,891		615,682		5.225	%		April 1, 2052
-Second Note		150,000		150,000		5.00	%		January 4, 2029
2029 W. 41^st Place		820,000		809,900		6.00	%		December 31, 2029
4517 Orchard Avenue
-First Note		473,453		479,070		5.225	%		April 1, 2052
-Second Note		158,000		158,000		5.00	%		March 1, 2029
1733 W. 37^th Place
-First Note		570,301		567,450		10.24	%		December 20, 2023
-Second Note		100,000		100,000		6.00	%		May 1, 2029

Hubilu General Loan		335,000		275,000		6.00	%		On Demand

	$	16,497,813	$	16,488,381
Less: current maturities		890,077		604,744
Mortgages payable	$	15,607,736	$	15,883,637

NOTE 8 – PROMISSORY NOTES PAYABLE-Related Party

Esteban Coaloa, who was owed $89,593 as part of the purchase of 2909 S. Catalina Street, Los Angeles, CA, passed away in 2017. Effectively, Mr. Coaloa is no longer an officer of the Company, therefore the loan is now payable to his family trust and is no longer a related party transaction. The promissory notes, related parties balance as of December 31, 2022 was $89,593, which was reclassified and added to the mortgages payable amount during the first quarter of 2023. As of September 30, 2023, there were no other promissory notes held by related parties.

NOTE 9 –RELATED PARTY TRANSACTIONS

As of September 30, 2023 and December 31, 2022, Jacaranda Investments, Inc., had provided total advances of $474,271. These advances are unsecured and do not carry a contractual interest rate or repayment terms. In connection with these advances, the Company has recorded an imputed interest charge of $39,229 and which was credited to additional paid-in capital for the nine months ended September 30, 2023. See additional related party transactions in Note 4 and 5.

NOTE 10 – SERIES 1 CONVERTIBLE PREFERRED SHARES

On September 8, 2016, the Company authorized and designated 2,000,000 shares of Series 1 convertible preferred stock (the “Preferred Stock”).

Effective September 30, 2019, the 5% Voting, Cumulative Convertible Series 1 Preferred Stock date of conversion has been extended to the September 30, 2029.

The Preferred Stock has the following rights and privileges:

Voting – The holders of the Preferred Stock shall be entitled to the number of votes equal to the number of shares of common stock into which such shares of Preferred Stock could be converted.

Conversion – Each share of Preferred Stock, is convertible at the option of the holder, into shares of common stock, at the lesser of $0.50 per share or a ten percent (10%) discount to the average closing bid price of the common stock 5 days prior to the notice of conversion. The Preferred Stock is also subject to certain adjustments for dilution, if any, resulting from future stock issuances, including for any subsequent issuance of common stock at a price per share less than that paid by the holders of the Preferred Stock.

Dividends – The holders of the Preferred Stock in preference to the holders of common stock, are entitled to receive dividends at the rate of 5% per annum, in kind, which shall accrue quarterly. Such dividends are cumulative. No such dividends have been declared to date.

Liquidation – In the event of any liquidation, dissolution, winding-up or sale or merger of the Company, whether voluntarily or involuntarily, each holder of Preferred Stock is entitled to receive, in preference to the holders of common stock, a per-share amount equal to the original issue price of $1.00 (as adjusted, as defined), plus all declared but unpaid dividends.

SCHEDULE OF ISSUANCE OF CONVERTIBLE PREFERRED SHARES SETTLEMENT OBLIGATION

	# of Shares		Amount		Dividend in Arrears		Total

Balance, December 31, 2022		520,400	$	520,400	$	153,514	$	673,914
Dividends accrued				-		19,408		19,408
Balance, September 30, 2023		520,400	$	520,400	$	172,922	$	693,322

NOTE 11 – CONTINGENCY/LEGAL

As of September 30, 2023, and during the preceding ten years, no director, person nominated to become a director or executive officer, or promoter of the Company has been involved in any legal proceeding that would require disclosure hereunder.

From time to time, the Company may become subject to various legal proceedings and claims that arise in the ordinary course of our business activities. However, litigation is subject to inherent uncertainties for which the outcome cannot be predicted. Any adverse result in these or other legal matters could arise and cause harm to the Company’s business. The Company currently is not a party to any claim or litigation, the outcome of which, if determined adversely to the Company, would individually or in the aggregate be reasonably expected to have a material adverse effect on the Company’s business.

NOTE 12 - SUBSEQUENT EVENTS

We have evaluated subsequent events from the balance sheet date through September 30, 2023, the date at which the financial statements were issued, and determined that there were no items that require adjustment to or disclosure in the financial statements.

Forward Looking Statements

This Quarterly Report on Form 10-Q, including “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 2 of Part I of this report include forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 (collectively, the “Reform Act”). The Reform Act provides a safe harbor for forward-looking statements to encourage companies to provide prospective information about themselves so long as they identify these statements as forward-looking and provide meaningful cautionary statements identifying important factors that could cause actual results to differ from the projected results. All statements, other than statements of historical fact that we make in this Quarterly Report on Form 10-Q are forward-looking. The words “anticipates,” “believes,” “expects,” “intends,” “will continue,” “estimates,” “plans,” “projects,” the negative of these terms and similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean the statement is not forward-looking.

Forward-looking statements involve risks, uncertainties or other factors which may cause actual results to differ materially from the future results, performance or achievements expressed or implied by the forward-looking statements. These statements are based on our management’s beliefs and assumptions, which in turn are based on currently available information. Certain risks, uncertainties or other important factors are detailed in this Quarterly Report on Form 10-Q and may be detailed from time to time in other reports we file with the Securities and Exchange Commission, including on Forms 8-K and 10-K.Examples of forward looking statements in this Quarterly Report on Form 10-Q include, but are not limited to, our expectations regarding our ability to generate operating cash flows and to fund our working capital and capital expenditure requirements. Important assumptions relating to the forward-looking statements include, among others, assumptions regarding demand for our future products, the timing and cost of capital expenditures, competitive conditions and general economic conditions. These assumptions could prove inaccurate. Although we believe that the estimates and projections reflected in the forward-looking statements are reasonable, our expectations may prove to be incorrect. Important factors that could cause actual results to differ materially from the results and events anticipated or implied by such forward-looking statements include:

	●	the risks of a start-up company;

	●	management’s plans, objectives and budgets for its future operations and future economic performance;

	●	capital budget and future capital requirements;

	●	meeting future capital needs;

	●	our dependence on management and the need to recruit additional personnel;

	●	limited trading for our common stock, if listed or quoted

	●	the level of future expenditures;

	●	impact of recent accounting pronouncements;

	●	the outcome of regulatory and litigation matters; and

	●	the assumptions described in this report underlying such forward-looking statements. Actual results and developments may materially differ from those expressed in or implied by such statements due to a number of factors, including:

	●	those described in the context of such forward-looking statements;

	●	the political, social and economic climate in which we conduct operations; and

	●	the risk factors described in other documents and reports filed with the Securities and Exchange Commission

We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for us to predict all of those risks, nor can we assess the impact of all of those risks on our business or the extent to which any factor may cause actual results to differ materially from those contained in any forward-looking statement. We believe these forward-looking statements are reasonable. However, you should not place undue reliance on any forward-looking statements, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and unless required by law, we expressly disclaim any obligation or undertaking to update publicly any of them in light of new information or future events.

Item 2. Management’s Discussion and Analysis of Financial Conditions and Results of Operations

The following is management’s discussion and analysis of financial condition and results of operations and is provided as a supplement to the accompanying unaudited financial statements and notes to help provide an understanding of our financial condition, results of operations and cash flows during the periods included in the accompanying unaudited financial statements.

In this Quarterly Report on Form 10-Q, “Company,” “the Company,” “us,” and “our” refer to Hubilu Venture Corporation, a Delaware corporation, unless the context requires otherwise.

We intend the following discussion to assist in the understanding of our financial position and our results of operations for the three and nine months ended September 30, 2023 and 2022, respectively. You should refer to the Financial Statements and related Notes in conjunction with this discussion.

Results of Operations

The following discussion of our financial condition and results of operations should be read in conjunction with our unaudited financial statements for the three and nine months ended September 30, 2023 and 2022, respectively, together with notes thereto, which are included in this Quarterly Report on Form 10-Q.

Three months ended September 30, 2023, compared to the three months ended September 30, 2022

Revenues. Our revenues increased $114,959 to $473,105 for the three months ended September 30, 2023, compared to $358,146 for the comparable period in 2022. The increase is due to higher rents and improved rental collection..

Operating expenses. In total, operating expenses increased $11,723 to $168,434 for the three months ended September 30, 2023, compared to $156,711 for the comparable period in 2022.

General and administrative expenses increased $7,995 to $110,659 for the three months ended September 30, 2023, compared to $102,664 for the comparable period in 2022.

Depreciation expense increased $3,728 to $57,775 for the three months ended September 30, 2023, compared to $54,047 for the comparable period in 2022.

Property tax expense increased $2,692 to $43,752 for the three months ended September 30, 2023, compared to $41,060 for the comparable period in 2022.

Salaries and benefits expense increased $2,100 to $17,200 for the three months ended September 30, 2023, compared to $15,100 for the comparable period in 2022.

Utilities expense decreased $6,077 to $10,003 for the three months ended September 30, 2023, compared to $16,080 for the comparable period in 2022.

Professional fees expense increased $2,707 to $13,476 for the three months ended September 30, 2023, compared to $10,769 for the comparable period in 2022.

Interest expense decreased $1,067 to $242,631 for the three months ended September 30, 2023, compared to $243,698 for the comparable period in 2022. The decrease is due to the principal payments on our outstanding loans.

Net Income (Loss). Our net income increased $104,303 to $62,040 of net income for the three months ended September 30, 2023, compared to $42,263 of net loss for the comparable period in 2022. The increase is attributable to the revenue and expenses discussed above.

Nine months ended September 30, 2023 compared to the nine months ended September 30, 2022

Revenues. Our revenues increased $166,155 to $1,308,041 for the nine months ended September 30, 2023, compared to $1,141,886 for the comparable period in 2022. The increase is due to higher rents and improved rental collection..

Operating expenses. In total, operating expenses decreased $68,225 to $534,259 for the nine months ended September 30, 2023, compared to $602,484 for the comparable period in 2022.

General and administrative expenses decreased $85,443 to $363,480 for the nine months ended September 30, 2023, compared to $448,923 for the comparable period in 2022.

Depreciation expense increased $17,218 to $170,779 for the nine months ended September 30, 2023, compared to $153,561 for the comparable period in 2022.

Property tax expense decreased $11,138 to $135,113 for the nine months ended September 30, 2023, compared to $146,251 for the comparable period in 2022. The decrease is due to the timing of payments.

Salaries and benefits expense decreased $15,675 to $48,800 for the nine months ended September 30, 2023, compared to $64,475 for the comparable period in 2022.

Utilities expense decreased $12,777 to $35,888 for the nine months ended September 30, 2023, compared to $48,665 for the comparable period in 2022.

Professional fees expense increased $15,016 to $68,032 for the nine months ended September 30, 2023, compared to $53,016 for the comparable period in 2022.

Interest expense, on a net basis, increased $52,297 to $713,830 for the nine months ended September 30, 2023, compared to $661,533 for the comparable period in 2022. Interest income decreased by $29,800, and interest expense increased by $22,497, for the nine months ended September 30, 2023, compared to the comparable period in 2022.

Net Income (Loss). Our net income increased $182,083 to $59,952 of net income for the nine months ended September 30, 2023, compared to $122,131 of net loss for the comparable period in 2022. The increase is attributable to the revenue and expenses discussed above.

Liquidity and Capital Resources. For the nine months ended September 30, 2023, we did not borrow any money from our majority shareholder. Since 2015, Jacaranda Investments, Inc., provided us with $492,500 in related party advances. We have not been advanced any more money since 2018. Jacaranda Investments, Inc. has agreed not to seek repayment of its advances until we are financially able to repay them. In 2021, $18,229 was repaid to Jacaranda Investments, Inc. leaving the balance at $474,271. We intend to seek additional financing for our working capital, in the form of equity or debt, to provide us with the necessary capital to accomplish our plan of operation. There can be no assurance that we will be successful in our efforts to raise additional capital.

Our total assets are $17,172,695, as of September 30, 2023, consisting of $11,800,304 in real estate, building and capital improvements of $5,785,007, $298,704 in acquisition costs, net of $735,426 in depreciation, $17,506 in cash and $6,600 in security deposits.

Our total liabilities are $17,966,091 as of September 30, 2023.

Our total stockholders’ deficit is $793,396 as of September 30, 2023.

Our net cash provided by operations was $334,152 for the nine months ended September 30, 2023.

Our investing activities used a total of $328,553 for the nine months ended September 30, 2023.

We had $80,161 in cash used in financing activities for the nine months ended September 30, 2023.

We do not now have funds sufficient for pursuing our plan of operation, but we are in the process of trying to increase rents to finance our operations through rental cash flow. If operating difficulties or other factors (many of which are beyond our control) delay our realization of revenues or cash flows from rental income, we may be limited in our ability to pursue our business plan. Moreover, if unexpected expenses arise due to unanticipated pressures or if we decide to expand our business plan beyond its currently anticipated level or otherwise, we will require additional financing to fund our operations, in addition to anticipated cash generated from our operations. Additional financing might not be available on terms favorable to us, or at all. If adequate funds were not available or were not available on acceptable terms, our ability to fund our operations, take advantage of unanticipated opportunities, develop or enhance our business or otherwise respond to competitive pressures would be significantly limited. In a worst-case scenario, we might not be able to fund our operations or to remain in business, which could result in a total loss of our stockholders’ investment. If we raise additional funds through the issuance of equity or convertible debt securities, the percentage ownership of our stockholders would be reduced, and these newly issued securities might have rights, preferences or privileges senior to those of existing stockholders.

Belladonna Lily Investments, Inc., a Wyoming Corporation is not, and has never been a related party to Hubilu Venture Corporation. Neither Hubilu, nor David Behrend has, nor ever had any ownership interest, nor controlling interest in Belladonna, and David Behrend was not an officer of Belladonna during, or after the reporting period.

The Company had no formal long-term lines or credit or other bank financing arrangements as of September 30, 2023.

The Company has no current plans for the purchase or sale of any plant or equipment.

The Company has no current plans to make any changes in the number of employees.

Impact of Inflation

The Company believes that inflation has had a negligible effect on operations over the past quarter.

Capital Expenditures

The Company expended $328,553 in capital and building improvements during the nine months ended September 30, 2023.

IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS

For information on the impact of recent accounting pronouncements on our business, see note 3 of the Notes to the Consolidated Financial Statements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, we are not required to provide information required by this item.

Item 4. Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures

We conducted an evaluation, under the supervision and with the participation of the Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(f) under the Securities Exchange Act of 1934 as amended (the “Exchange Act”)). Based on this evaluation, the Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures as of the end of the fiscal quarter covered by this quarterly report on Form 10-Q were effective at a reasonable assurance level to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms.

(b) Changes in Internal Controls over Financial Reporting

During the nine-month period ended September 30, 2023, there has been no change in internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II — OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 1A. Risk Factors

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, we are not required to provide information required by this item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

None.

Item 6. Exhibits

(a)

The following exhibits are filed with this quarterly report on Form 10-Q or are incorporated herein by reference:

Exhibit Number		Description

31.1		Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934*.

31.2		Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934*.

32.1		Certification of the Chief Executive Officer pursuant to 18 U.S.C Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*.

32.2		Certification of the Chief Financial Officer pursuant to 18 U.S.C Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*.

101.INS		Inline XBRL Instance Document

101.SCH		Inline XBRL Taxonomy Extension Schema Document

101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document

101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document

104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

*	Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	HUBILU VENTURE CORPORATION

November 8, 2023	/s/ David Behrend
	David Behrend
	Chairman and Chief Executive Officer (Principal Executive Officer) and Chief Financial Officer (Principal Accounting and Financial Officer)

Exhibit 31.1

CERTIFICATION PURSUANT TO SECTION 302 (a) OF THE SARBANES-OXLEY ACT OF 2002

I, David Behrend, Chairman and Chief Executive Officer, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Hubilu Venture Corporation (the “registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements and other financial information included in this quarterly report fairly presents in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within the entity, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal controls over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal controls over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s Board of Directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Dated: November 8, 2023	/s/ David Behrend
	David Behrend
	Chief Executive Officer
	(Principal Executive Officer)

Exhibit 31.2

CERTIFICATION PURSUANT TO SECTION 302 (a) OF THE SARBANES-OXLEY ACT OF 2002

I, David Behrend, Chief Financial Officer of Hubilu Venture Corporation, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Hubilu Venture Corporation (the “registrant”);

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Dated: November 8, 2023	/s/ David Behrend
	David Behrend
	Chief Financial Officer
	(Principal Financial Officer)

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of Hubilu Venture Corporation (the “Company”) for the period ending September 30, 2023, as filed with the Securities and Exchange Commission on or about the date hereof (“Report”), I, David Behrend, the Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as enacted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: November 8, 2023	/s/ David Behrend
	David Behrend
	Chief Executive Officer
	(Principal Executive Officer)

Exhibit 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ENACTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of Hubilu Venture Corporation (the “Company”) for the period ending September 30, 2023 as filed with the Securities and Exchange Commission on or about the date hereof (“Report”), I, David Behrend, Chief Financial Officer of the Company, certify pursuant to 18 U.S.C. Section 1350, as enacted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: November 8, 2023	/s/ David Behrend
	David Behrend
	Chief Financial Officer
	(Principal Financial Officer)

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Nov. 08, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	000-55611
Entity Registrant Name	Hubilu Venture Corporation
Entity Central Index Key	0001639068
Entity Tax Identification Number	47-3342387
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	205 South Beverly Drive
Entity Address, Address Line Two	Suite 205
Entity Address, City or Town	Beverly Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90212
City Area Code	(310)
Local Phone Number	308-7887
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,237,125

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash	$ 17,506	$ 92,068
Total current assets	17,506	92,068
Property and equipment:
Land	11,800,304	11,800,304
Building and capital improvements	5,785,007	5,458,695
Property acquisition and financing	298,704	296,463
Less: accumulated depreciation	(735,426)	(564,647)
Total property and equipment, net	17,148,589	16,990,815
Security deposits	6,600	6,783
Total assets	17,172,695	17,089,666
Current liabilities:
Accounts payable	10,987
Advanced rents received	5,087
Accrued interest	14,792	9,415
Security deposits payable	269,819	246,669
Due to related party, current maturities	474,271	474,271
Mortgages payable, current maturities	890,077	604,744
Dividends payable	172,922	153,514
Total current liabilities	1,837,955	1,488,613
Promissory notes, related parties		89,593
Mortgages payable	15,607,736	15,883,637
Preferred shares payable	520,400	520,400
Total liabilities	17,966,091	17,982,243
Stockholders’ equity (deficit):
Common stock, $0.001 par value, 100,000,000 shares authorized, 26,237,125 shares issued and outstanding	26,237	26,237
Additional paid-in capital	861,210	821,981
Accumulated deficit	(1,680,843)	(1,740,795)
Total stockholders’ equity (deficit)	(793,396)	(892,577)
Total liabilities and stockholders’ equity (deficit)	$ 17,172,695	$ 17,089,666

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	26,237,125	26,237,125
Common stock, shares outstanding	26,237,125	26,237,125

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Rental Income	$ 473,105	$ 358,146	$ 1,308,041	$ 1,141,886
General and administrative expenses:
Salaries and benefits	17,200	15,100	48,800	64,475
Utilities	10,003	16,080	35,888	48,665
Professional fees	13,476	10,769	68,032	53,016
Property taxes	43,752	41,060	135,113	146,251
Other general and administrative expenses	26,228	19,655	75,647	136,516
Total general and administrative expenses	110,659	102,664	363,480	448,923
Depreciation	57,775	54,047	170,779	153,561
Total operating expenses	168,434	156,711	534,259	602,484
Net operating income	304,671	201,435	773,782	539,402
Other income (expense):
Other income				29,800
Interest expense	(242,631)	(243,698)	(713,830)	(691,333)
Total other income (expense)	(242,631)	(243,698)	(713,830)	(661,533)
Net income (loss)	$ 62,040	$ (42,263)	$ 59,952	$ (122,131)
Weighted average common shares outstanding - basic	26,237,125	26,237,125	26,237,125	26,237,125
Net income (loss) per common share - basic	$ 0.00	$ (0.00)	$ 0.00	$ (0.00)
Weighted average common shares outstanding - diluted	26,268,349	26,237,125	26,268,349	26,237,125
Net income (loss) per common share - diluted	$ 0.00	$ (0.00)	$ 0.00	$ (0.00)

Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2021	$ 26,237	$ 775,755	$ (1,626,509)	$ (824,517)
Beginning balance, shares at Dec. 31, 2021	26,237,125
Imputed interest		33,279		33,279
Net loss			(122,131)	(122,131)
Ending balance, value at Sep. 30, 2022	$ 26,237	809,034	(1,748,640)	(913,369)
Ending balance, shares at Sep. 30, 2022	26,237,125
Beginning balance, value at Jun. 30, 2022	$ 26,237	792,218	(1,706,377)	(887,922)
Beginning balance, shares at Jun. 30, 2022	26,237,125
Imputed interest		16,816		16,816
Net loss			(42,263)	(42,263)
Ending balance, value at Sep. 30, 2022	$ 26,237	809,034	(1,748,640)	(913,369)
Ending balance, shares at Sep. 30, 2022	26,237,125
Beginning balance, value at Dec. 31, 2022	$ 26,237	821,981	(1,740,795)	(892,577)
Beginning balance, shares at Dec. 31, 2022	26,237,125
Imputed interest		39,229		39,229
Net loss			59,952	59,952
Ending balance, value at Sep. 30, 2023	$ 26,237	861,210	(1,680,843)	(793,396)
Ending balance, shares at Sep. 30, 2023	26,237,125
Beginning balance, value at Jun. 30, 2023	$ 26,237	847,990	(1,742,883)	(868,656)
Beginning balance, shares at Jun. 30, 2023	26,237,125
Imputed interest		13,220		13,220
Net loss			62,040	62,040
Ending balance, value at Sep. 30, 2023	$ 26,237	$ 861,210	$ (1,680,843)	$ (793,396)
Ending balance, shares at Sep. 30, 2023	26,237,125

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 59,952	$ (122,131)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	170,779	153,561
Imputed interest	39,229	33,004
Cumulative preferred stock dividends payable	19,408	33,279
Decrease (increase) in current assets:
Security deposits	183
Increase (decrease) in current liabilities:
Accounts payable	10,987	179
Advanced rents received	5,087
Accrued expenses	5,377	18,222
Security deposits payable	23,150	63,437
Net cash provided by operating activities	334,152	179,551
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(328,553)	(449,026)
Net cash used in investing activities	(328,553)	(449,026)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds received from mortgages payable	102,100	633,195
Repayments on mortgages payable	(182,261)	(539,637)
Proceeds received from the sale of preferred stock		10,000
Net cash provided by (used in) financing activities	(80,161)	103,558
NET CHANGE IN CASH AND CASH EQUIVALENTS	(74,562)	(165,917)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	92,068	203,738
CASH AND CASH EQUIVALENTS AT END OF PERIOD	17,506	37,821
SUPPLEMENTAL INFORMATION:
Interest paid	669,224	639,863
Income taxes paid		63,707
Non-cash investing and financing transactions:
Acquisitions of assets financed through debt		$ 2,739,632

NATURE OF BUSINESS

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NATURE OF BUSINESS

NOTE 1 – NATURE OF BUSINESS

BASIS OF PRESENTATION AND ABILITY TO CONTINUE AS A GOING CONCERN

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION AND ABILITY TO CONTINUE AS A GOING CONCERN

NOTE 2 – BASIS OF PRESENTATION AND ABILITY TO CONTINUE AS A GOING CONCERN

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Preparation and Summary of Significant Accounting Policies

Reclassification

Fair Value Measurements

Level 1	quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2	observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and

Level 3	assets and liabilities whose significant value drivers are unobservable by little or no market activity and that are significant to the fair value of the assets or liabilities.

Recent Accounting Standards

From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date.

Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

PROPERTY ACQUISITIONS - Related Party

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

PROPERTY ACQUISITIONS - Related Party

NOTE 4 - PROPERTY ACQUISITIONS - Related Party

As of September 30, 2023, we have not acquired any additional properties since the year ended December 31, 2022.

INVESTMENTS IN REAL ESTATE- Related party

9 Months Ended

Sep. 30, 2023

Real Estate [Abstract]

INVESTMENTS IN REAL ESTATE- Related party

NOTE 5 - INVESTMENTS IN REAL ESTATE- Related party

The change in the real estate property investments for the nine months ended September 30, 2023 and the year ended December 31, 2022 is as follows:

SUMMARY OF CHANGES IN REAL ESTATE PROPERTY INVESTMENTS

	Nine months ended September 30, 2023		Year ended December 31, 2022

Balance, beginning of the period	$	17,555,462	$	14,255,927
Acquisitions:		-		2,739,632
Real estate investment property, at cost		17,555,462		16,995,559
Capital improvements		328,553		559,903
Balance, end of the period	$	17,884,015	$	17,555,462

The change in the accumulated depreciation for the nine months ended September 30, 2023 and 2022 is as follows:

SCHEDULE OF CHANGES IN ACCUMULATED DEPRECIATION

	September 30, 2023		September 30, 2022
Balance, beginning of the period	$	564,647	$	356,036
Depreciation charge for the period		170,779		153,561
Balance, end of the period	$	735,426	$	509,597

The Company’s real estate investments as of September 30, 2023 is summarized as follows:

SCHEDULE OF REAL ESTATE INVESTMENT

	Land		Building		Improvement		Depreciation		Encumbrances		Deposits		Costs
	Initial Cost to the Company				Capital		Accumulated				Security		Closing
	Land		Building		Improvement		Depreciation		Encumbrances		Deposits		Costs
3711 South Western Ave	$	508,571	$	383,716	$	86,853	$	113,871	$	643,585	$	18,194		-
2909 South Catalina		565,839		344,856		17,381		97,823		518,554		14,400		-
3910 Wisconsin Ave		337,500		150,000		88,833		42,157		682,735		16,000		28,444
3910 Walton Ave		318,098		191,902		130,991		43,224		531,803		11,000		-
1557 West 29th		496,609		146,891		50,522		29,496		596,801		7,500		14,251
1267 West 38^thStreet		420,210		180,090		43,816		35,514		598,675		11,000		15,701
1618 West 38th		508,298		127,074		14,732		18,478		629,300		12,000		-
4016 Dalton Avenue		424,005		106,001		66,217		22,589		602,534		7,350		27,678
1981 West Estrella Avenue		651,659		162,915		72,501		30,888		887,826		17,000		21,981
2115 Portland Street		753,840		188,460		5,063		25,028		904,617		8,125		-
717 West 42^ndPlace		376,800		94,200		-		22,814		470,435		1,350		-
3906 Denker Street		428,000		107,000		60,210		19,086		581,699		8,500		-
3408 S Budlong Street		499,200		124,800		55,298		18,352		721,352		-		-
3912 S. Hill Street		483,750		161,250		195,525		32,450		649,895		18,000		-
4009 Brighton Avenue		442,700		158,300		176,113		21,597		711,331		-		13,040
3908 Denker Avenue		534,400		158,300		123,922		18,453		623,086		4,500		20,243
4021 Halldale Avenue		487,500		162,500		45,189		14,836		757,294		18,000		37,234
1284 W. 38^th Street		551,250		183,750		1,663		14,838		828,301		12,000		16,623
4505 Orchard Avenue		506,250		145,776		189,293		22,739		640,292		18,000		27,037
3777 Ruthelen Street		559,200		139,800		31,927		13,306		702,053		13,900		11,019
3791 Normandie Avenue		480,000		160,000		7,000		16,834		758,891		12,000		27,394
2029 W. 41^st Place		540,000		180,000		141,030		32,442		820,000		19,000		15,742
4517 Orchard Avenue		453,750		151,250		101,601		19,385		631,453		10,000		8,853
1733 W. 37^th Street		472,875		157,625		12,841		9,226		670,301		12,000		13,464
	$	11,800,304	$	4,066,456	$	1,718,551	$	735,426	$	16,162,813	$	269,819	$	298,704

ADVANCED RENTS RECEIVED

9 Months Ended

Sep. 30, 2023

Advanced Rents Received

ADVANCED RENTS RECEIVED

NOTE 6 – ADVANCED RENTS RECEIVED

The Company received $5,087 of rents in advance as of September 30, 2023. There was no rental income received in advance as of December 31, 2022.

PROPERTY INDEBTEDNESS

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

PROPERTY INDEBTEDNESS

NOTE 7 - PROPERTY INDEBTEDNESS

The Company’s mortgages are summarized as follows:

SCHEDULE OF MORTGAGES PAYABLE

	Principal Balance
	September 30, 2023		December 31, 2022		Interest Rate			Maturity Date
3711 South Western Ave	$	643,585	$	643,585		5.00	%		December 1, 2029
2909 South Catalina Street		428,961		436,939		3.10	%		August 12, 2046
-Second Note		89,593		-		6.00	%		June 20, 2029
3910 Walton Ave.		531,803		539,547		5.00	%		August 01, 2049
3910 Wisconsin Street		682,735		691,349		5.225	%		March 1, 2052
1557 West 29 Street		596,801		605,129		4.975	%		June 1, 2051
1267 West 38 Street		598,675		606,053		4.95	%		June 1, 2051
4016 Dalton Avenue		602,534		609,959		4.975	%		June 1, 2051
1618 West 38 Street
- First Note		479,300		484,883		6.30	%		January 1, 2050
- Second Note		150,000		150,000		6.00	%		December 10, 2023
1981 Estrella Ave		887,826		899,278		5.225	%		June 1, 2051
717 West 42 Place
- First Note		335,467		336,267		6.85	%		October 31, 2025
- Second Note		134,968		134,968		6.85	%		April 30, 2029
2115 Portland Street
- First Note		584,841		591,836		6.00	%		June 1, 2049
-Second Note		319,776		319,776		5.00	%		April 30, 2024
3906 Denker
-First Note		396,699		401,181		6.00	%		March 1, 2050
-Second Note		185,000		185,000		6.85	%		February 14, 2025
3408 Budlong
-First Note		601,352		609,626		4.875	%		December 1, 2051
-Second Note		120,000		120,000		5.00	%		November 1, 2029
3912 S. Hill Street
-First Note		497,895		503,094		6.425	%		December 1, 2050
- Second Note		152,000		152,000		6.425	%		November 1, 2026
4009 Brighton Avenue		711,331		720,010		4.875	%		November 1, 2051
3908 Denker Avenue		623,086		630,515		4.975	%		December 1, 2051
4021 Halldale Avenue		757,294		766,071		6.75	%		October 1, 2052
1284 W. 38^th Street
-First Note		640,301		648,605		4.625	%		March 1, 2052
-Second Note		188,000		188,000		5.25	%		June 20, 2029
4505 Orchard Avenue		640,292		648,282		5.00	%		October 1, 2029
3777 Ruthelen Street		702,053		711,326		4.625	%		March 1, 2052
3791 S. Normandie Avenue
- First Note		608,891		615,682		5.225	%		April 1, 2052
-Second Note		150,000		150,000		5.00	%		January 4, 2029
2029 W. 41^st Place		820,000		809,900		6.00	%		December 31, 2029
4517 Orchard Avenue
-First Note		473,453		479,070		5.225	%		April 1, 2052
-Second Note		158,000		158,000		5.00	%		March 1, 2029
1733 W. 37^th Place
-First Note		570,301		567,450		10.24	%		December 20, 2023
-Second Note		100,000		100,000		6.00	%		May 1, 2029

Hubilu General Loan		335,000		275,000		6.00	%		On Demand

	$	16,497,813	$	16,488,381
Less: current maturities		890,077		604,744
Mortgages payable	$	15,607,736	$	15,883,637

PROMISSORY NOTES PAYABLE-Related Party

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

PROMISSORY NOTES PAYABLE-Related Party

NOTE 8 – PROMISSORY NOTES PAYABLE-Related Party

RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2023

RELATED PARTY TRANSACTIONS

NOTE 9 –RELATED PARTY TRANSACTIONS

SERIES 1 CONVERTIBLE PREFERRED SHARES

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

SERIES 1 CONVERTIBLE PREFERRED SHARES

NOTE 10 – SERIES 1 CONVERTIBLE PREFERRED SHARES

On September 8, 2016, the Company authorized and designated 2,000,000 shares of Series 1 convertible preferred stock (the “Preferred Stock”).

Effective September 30, 2019, the 5% Voting, Cumulative Convertible Series 1 Preferred Stock date of conversion has been extended to the September 30, 2029.

The Preferred Stock has the following rights and privileges:

Voting – The holders of the Preferred Stock shall be entitled to the number of votes equal to the number of shares of common stock into which such shares of Preferred Stock could be converted.

SCHEDULE OF ISSUANCE OF CONVERTIBLE PREFERRED SHARES SETTLEMENT OBLIGATION

	# of Shares		Amount		Dividend in Arrears		Total

Balance, December 31, 2022		520,400	$	520,400	$	153,514	$	673,914
Dividends accrued				-		19,408		19,408
Balance, September 30, 2023		520,400	$	520,400	$	172,922	$	693,322

CONTINGENCY/LEGAL

9 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

CONTINGENCY/LEGAL

NOTE 11 – CONTINGENCY/LEGAL

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 12 - SUBSEQUENT EVENTS

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Basis of Preparation and Summary of Significant Accounting Policies

Basis of Preparation and Summary of Significant Accounting Policies

Reclassification

Reclassification

Fair Value Measurements

Fair Value Measurements

Level 1	quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2	observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and

Level 3	assets and liabilities whose significant value drivers are unobservable by little or no market activity and that are significant to the fair value of the assets or liabilities.

Recent Accounting Standards

Recent Accounting Standards

From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date.

Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

INVESTMENTS IN REAL ESTATE- Related party (Tables)

9 Months Ended

Sep. 30, 2023

Real Estate [Abstract]

SUMMARY OF CHANGES IN REAL ESTATE PROPERTY INVESTMENTS

The change in the real estate property investments for the nine months ended September 30, 2023 and the year ended December 31, 2022 is as follows:

SUMMARY OF CHANGES IN REAL ESTATE PROPERTY INVESTMENTS

	Nine months ended September 30, 2023		Year ended December 31, 2022

Balance, beginning of the period	$	17,555,462	$	14,255,927
Acquisitions:		-		2,739,632
Real estate investment property, at cost		17,555,462		16,995,559
Capital improvements		328,553		559,903
Balance, end of the period	$	17,884,015	$	17,555,462

SCHEDULE OF CHANGES IN ACCUMULATED DEPRECIATION

The change in the accumulated depreciation for the nine months ended September 30, 2023 and 2022 is as follows:

SCHEDULE OF CHANGES IN ACCUMULATED DEPRECIATION

	September 30, 2023		September 30, 2022
Balance, beginning of the period	$	564,647	$	356,036
Depreciation charge for the period		170,779		153,561
Balance, end of the period	$	735,426	$	509,597

SCHEDULE OF REAL ESTATE INVESTMENT

The Company’s real estate investments as of September 30, 2023 is summarized as follows:

SCHEDULE OF REAL ESTATE INVESTMENT

	Land		Building		Improvement		Depreciation		Encumbrances		Deposits		Costs
	Initial Cost to the Company				Capital		Accumulated				Security		Closing
	Land		Building		Improvement		Depreciation		Encumbrances		Deposits		Costs
3711 South Western Ave	$	508,571	$	383,716	$	86,853	$	113,871	$	643,585	$	18,194		-
2909 South Catalina		565,839		344,856		17,381		97,823		518,554		14,400		-
3910 Wisconsin Ave		337,500		150,000		88,833		42,157		682,735		16,000		28,444
3910 Walton Ave		318,098		191,902		130,991		43,224		531,803		11,000		-
1557 West 29th		496,609		146,891		50,522		29,496		596,801		7,500		14,251
1267 West 38^thStreet		420,210		180,090		43,816		35,514		598,675		11,000		15,701
1618 West 38th		508,298		127,074		14,732		18,478		629,300		12,000		-
4016 Dalton Avenue		424,005		106,001		66,217		22,589		602,534		7,350		27,678
1981 West Estrella Avenue		651,659		162,915		72,501		30,888		887,826		17,000		21,981
2115 Portland Street		753,840		188,460		5,063		25,028		904,617		8,125		-
717 West 42^ndPlace		376,800		94,200		-		22,814		470,435		1,350		-
3906 Denker Street		428,000		107,000		60,210		19,086		581,699		8,500		-
3408 S Budlong Street		499,200		124,800		55,298		18,352		721,352		-		-
3912 S. Hill Street		483,750		161,250		195,525		32,450		649,895		18,000		-
4009 Brighton Avenue		442,700		158,300		176,113		21,597		711,331		-		13,040
3908 Denker Avenue		534,400		158,300		123,922		18,453		623,086		4,500		20,243
4021 Halldale Avenue		487,500		162,500		45,189		14,836		757,294		18,000		37,234
1284 W. 38^th Street		551,250		183,750		1,663		14,838		828,301		12,000		16,623
4505 Orchard Avenue		506,250		145,776		189,293		22,739		640,292		18,000		27,037
3777 Ruthelen Street		559,200		139,800		31,927		13,306		702,053		13,900		11,019
3791 Normandie Avenue		480,000		160,000		7,000		16,834		758,891		12,000		27,394
2029 W. 41^st Place		540,000		180,000		141,030		32,442		820,000		19,000		15,742
4517 Orchard Avenue		453,750		151,250		101,601		19,385		631,453		10,000		8,853
1733 W. 37^th Street		472,875		157,625		12,841		9,226		670,301		12,000		13,464
	$	11,800,304	$	4,066,456	$	1,718,551	$	735,426	$	16,162,813	$	269,819	$	298,704

PROPERTY INDEBTEDNESS (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

SCHEDULE OF MORTGAGES PAYABLE

The Company’s mortgages are summarized as follows:

SCHEDULE OF MORTGAGES PAYABLE

	Principal Balance
	September 30, 2023		December 31, 2022		Interest Rate			Maturity Date
3711 South Western Ave	$	643,585	$	643,585		5.00	%		December 1, 2029
2909 South Catalina Street		428,961		436,939		3.10	%		August 12, 2046
-Second Note		89,593		-		6.00	%		June 20, 2029
3910 Walton Ave.		531,803		539,547		5.00	%		August 01, 2049
3910 Wisconsin Street		682,735		691,349		5.225	%		March 1, 2052
1557 West 29 Street		596,801		605,129		4.975	%		June 1, 2051
1267 West 38 Street		598,675		606,053		4.95	%		June 1, 2051
4016 Dalton Avenue		602,534		609,959		4.975	%		June 1, 2051
1618 West 38 Street
- First Note		479,300		484,883		6.30	%		January 1, 2050
- Second Note		150,000		150,000		6.00	%		December 10, 2023
1981 Estrella Ave		887,826		899,278		5.225	%		June 1, 2051
717 West 42 Place
- First Note		335,467		336,267		6.85	%		October 31, 2025
- Second Note		134,968		134,968		6.85	%		April 30, 2029
2115 Portland Street
- First Note		584,841		591,836		6.00	%		June 1, 2049
-Second Note		319,776		319,776		5.00	%		April 30, 2024
3906 Denker
-First Note		396,699		401,181		6.00	%		March 1, 2050
-Second Note		185,000		185,000		6.85	%		February 14, 2025
3408 Budlong
-First Note		601,352		609,626		4.875	%		December 1, 2051
-Second Note		120,000		120,000		5.00	%		November 1, 2029
3912 S. Hill Street
-First Note		497,895		503,094		6.425	%		December 1, 2050
- Second Note		152,000		152,000		6.425	%		November 1, 2026
4009 Brighton Avenue		711,331		720,010		4.875	%		November 1, 2051
3908 Denker Avenue		623,086		630,515		4.975	%		December 1, 2051
4021 Halldale Avenue		757,294		766,071		6.75	%		October 1, 2052
1284 W. 38^th Street
-First Note		640,301		648,605		4.625	%		March 1, 2052
-Second Note		188,000		188,000		5.25	%		June 20, 2029
4505 Orchard Avenue		640,292		648,282		5.00	%		October 1, 2029
3777 Ruthelen Street		702,053		711,326		4.625	%		March 1, 2052
3791 S. Normandie Avenue
- First Note		608,891		615,682		5.225	%		April 1, 2052
-Second Note		150,000		150,000		5.00	%		January 4, 2029
2029 W. 41^st Place		820,000		809,900		6.00	%		December 31, 2029
4517 Orchard Avenue
-First Note		473,453		479,070		5.225	%		April 1, 2052
-Second Note		158,000		158,000		5.00	%		March 1, 2029
1733 W. 37^th Place
-First Note		570,301		567,450		10.24	%		December 20, 2023
-Second Note		100,000		100,000		6.00	%		May 1, 2029

Hubilu General Loan		335,000		275,000		6.00	%		On Demand

	$	16,497,813	$	16,488,381
Less: current maturities		890,077		604,744
Mortgages payable	$	15,607,736	$	15,883,637

SERIES 1 CONVERTIBLE PREFERRED SHARES (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

SCHEDULE OF ISSUANCE OF CONVERTIBLE PREFERRED SHARES SETTLEMENT OBLIGATION

	# of Shares		Amount		Dividend in Arrears		Total

Balance, December 31, 2022		520,400	$	520,400	$	153,514	$	673,914
Dividends accrued				-		19,408		19,408
Balance, September 30, 2023		520,400	$	520,400	$	172,922	$	693,322

BASIS OF PRESENTATION AND ABILITY TO CONTINUE AS A GOING CONCERN (Details Narrative) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 1,680,843	$ 1,740,795

PROPERTY ACQUISITIONS - Related Party (Details Narrative) - USD ($)	Jan. 01, 2023	Dec. 20, 2023
Subsequent Event [Member]
Short-Term Debt [Line Items]
Interest rate		10.24%
First Position Note [Member] \| Boabab Investments, LLC [Member]
Short-Term Debt [Line Items]
Debt principal balance	$ 820,000
Interest rate	6.00%
Debt monthly payment	$ 4,100

SUMMARY OF CHANGES IN REAL ESTATE PROPERTY INVESTMENTS (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Real Estate [Abstract]
Balance, beginning of the period	$ 17,555,462	$ 14,255,927
Acquisitions:		2,739,632
Real estate investment property, at cost	17,555,462	16,995,559
Capital improvements	328,553	559,903
Balance, end of the period	$ 17,884,015	$ 17,555,462

SCHEDULE OF CHANGES IN ACCUMULATED DEPRECIATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Real Estate [Abstract]
Balance, beginning of the period			$ 564,647	$ 356,036
Depreciation charge for the period	$ 57,775	$ 54,047	170,779	153,561
Balance, end of the period	$ 735,426	$ 509,597	$ 735,426	$ 509,597

SCHEDULE OF REAL ESTATE INVESTMENT (Details)	Sep. 30, 2023 USD ($)
Land	$ 11,800,304
Building	4,066,456
Capital Improvements	1,718,551
Accumulated Depreciation	735,426
Encumbrances	16,162,813
Security Deposits	269,819
Closing Costs	298,704
3711 South Western Ave [Member]
Land	508,571
Building	383,716
Capital Improvements	86,853
Accumulated Depreciation	113,871
Encumbrances	643,585
Security Deposits	18,194
Closing Costs
2909 South Catalina [Member]
Land	565,839
Building	344,856
Capital Improvements	17,381
Accumulated Depreciation	97,823
Encumbrances	518,554
Security Deposits	14,400
Closing Costs
3910 Wisconsin Ave [Member]
Land	337,500
Building	150,000
Capital Improvements	88,833
Accumulated Depreciation	42,157
Encumbrances	682,735
Security Deposits	16,000
Closing Costs	28,444
3910 Walton Ave [Member]
Land	318,098
Building	191,902
Capital Improvements	130,991
Accumulated Depreciation	43,224
Encumbrances	531,803
Security Deposits	11,000
Closing Costs
1557 West 29th Street [Member]
Land	496,609
Building	146,891
Capital Improvements	50,522
Accumulated Depreciation	29,496
Encumbrances	596,801
Security Deposits	7,500
Closing Costs	14,251
1267 West 38th Street [Member]
Land	420,210
Building	180,090
Capital Improvements	43,816
Accumulated Depreciation	35,514
Encumbrances	598,675
Security Deposits	11,000
Closing Costs	15,701
1618 West 38th [Member]
Land	508,298
Building	127,074
Capital Improvements	14,732
Accumulated Depreciation	18,478
Encumbrances	629,300
Security Deposits	12,000
Closing Costs
4016 Dalton Avenue [Member]
Land	424,005
Building	106,001
Capital Improvements	66,217
Accumulated Depreciation	22,589
Encumbrances	602,534
Security Deposits	7,350
Closing Costs	27,678
1981 West Estrella Avenue [Member]
Land	651,659
Building	162,915
Capital Improvements	72,501
Accumulated Depreciation	30,888
Encumbrances	887,826
Security Deposits	17,000
Closing Costs	21,981
2115 Portland Street [Member]
Land	753,840
Building	188,460
Capital Improvements	5,063
Accumulated Depreciation	25,028
Encumbrances	904,617
Security Deposits	8,125
Closing Costs
717 West 42nd Place [Member]
Land	376,800
Building	94,200
Capital Improvements
Accumulated Depreciation	22,814
Encumbrances	470,435
Security Deposits	1,350
Closing Costs
3906 Denker Street [Member]
Land	428,000
Building	107,000
Capital Improvements	60,210
Accumulated Depreciation	19,086
Encumbrances	581,699
Security Deposits	8,500
Closing Costs
3408 S Budlong Street [Member]
Land	499,200
Building	124,800
Capital Improvements	55,298
Accumulated Depreciation	18,352
Encumbrances	721,352
Security Deposits
Closing Costs
3912 S. Hill Street [Member]
Land	483,750
Building	161,250
Capital Improvements	195,525
Accumulated Depreciation	32,450
Encumbrances	649,895
Security Deposits	18,000
Closing Costs
4009 Brighton Avenue[Member]
Land	442,700
Building	158,300
Capital Improvements	176,113
Accumulated Depreciation	21,597
Encumbrances	711,331
Security Deposits
Closing Costs	13,040
3908 Denker Avenue [Member]
Land	534,400
Building	158,300
Capital Improvements	123,922
Accumulated Depreciation	18,453
Encumbrances	623,086
Security Deposits	4,500
Closing Costs	20,243
4021 Halldale Avenue [Member]
Land	487,500
Building	162,500
Capital Improvements	45,189
Accumulated Depreciation	14,836
Encumbrances	757,294
Security Deposits	18,000
Closing Costs	37,234
1284 W. 38th Street [Member]
Land	551,250
Building	183,750
Capital Improvements	1,663
Accumulated Depreciation	14,838
Encumbrances	828,301
Security Deposits	12,000
Closing Costs	16,623
4505 Orchard Avenue [Member]
Land	506,250
Building	145,776
Capital Improvements	189,293
Accumulated Depreciation	22,739
Encumbrances	640,292
Security Deposits	18,000
Closing Costs	27,037
3777 Ruthelen Street [Member]
Land	559,200
Building	139,800
Capital Improvements	31,927
Accumulated Depreciation	13,306
Encumbrances	702,053
Security Deposits	13,900
Closing Costs	11,019
3791 Normandie Avenue [Member]
Land	480,000
Building	160,000
Capital Improvements	7,000
Accumulated Depreciation	16,834
Encumbrances	758,891
Security Deposits	12,000
Closing Costs	27,394
2029 W. 41st Place [Member]
Land	540,000
Building	180,000
Capital Improvements	141,030
Accumulated Depreciation	32,442
Encumbrances	820,000
Security Deposits	19,000
Closing Costs	15,742
4517 Orchard Avenue [Member]
Land	453,750
Building	151,250
Capital Improvements	101,601
Accumulated Depreciation	19,385
Encumbrances	631,453
Security Deposits	10,000
Closing Costs	8,853
1733 W. 37th Street [Member]
Land	472,875
Building	157,625
Capital Improvements	12,841
Accumulated Depreciation	9,226
Encumbrances	670,301
Security Deposits	12,000
Closing Costs	$ 13,464

ADVANCED RENTS RECEIVED (Details Narrative) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Advanced Rents Received
Advanced rents received	$ 5,087

SCHEDULE OF MORTGAGES PAYABLE (Details) - USD ($)	9 Months Ended
SCHEDULE OF MORTGAGES PAYABLE (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Principal balance	$ 16,497,813	$ 16,488,381
Current maturities	890,077	604,744
Mortgages payable	$ 15,607,736	15,883,637
3711 South Western Ave [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.00%
Principal balance	$ 643,585	643,585
Maturity date	Dec. 01, 2029
2909 South Catalina Street[Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	3.10%
Principal balance	$ 428,961	436,939
Maturity date	Aug. 12, 2046
Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.00%
Principal balance	$ 89,593
Maturity date	Jun. 20, 2029
3910 Walton Ave [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.00%
Principal balance	$ 531,803	539,547
Maturity date	Aug. 01, 2049
3910 Wisconsin Street [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.225%
Principal balance	$ 682,735	691,349
Maturity date	Mar. 01, 2052
1557 West 29 Street [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	4.975%
Principal balance	$ 596,801	605,129
Maturity date	Jun. 01, 2051
1267 West 38 Street [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	4.95%
Principal balance	$ 598,675	606,053
Maturity date	Jun. 01, 2051
4016 Dalton Avenue [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	4.975%
Principal balance	$ 602,534	609,959
Maturity date	Jun. 01, 2051
1618 West 38 Street - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.30%
Principal balance	$ 479,300	484,883
Maturity date	Jan. 01, 2050
1618 West 38 Street - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.00%
Principal balance	$ 150,000	150,000
Maturity date	Dec. 10, 2023
1981 Estrella Ave [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.225%
Principal balance	$ 887,826	899,278
Maturity date	Jun. 01, 2051
717 West 42 Place - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.85%
Principal balance	$ 335,467	336,267
Maturity date	Oct. 31, 2025
717 West 42 Place - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.85%
Principal balance	$ 134,968	134,968
Maturity date	Apr. 30, 2029
2115 Portland Street - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.00%
Principal balance	$ 584,841	591,836
Maturity date	Jun. 01, 2049
2115 Portland Street - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.00%
Principal balance	$ 319,776	319,776
Maturity date	Apr. 30, 2024
3906 Denker - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.00%
Principal balance	$ 396,699	401,181
Maturity date	Mar. 01, 2050
3906 Denker Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.85%
Principal balance	$ 185,000	185,000
Maturity date	Feb. 14, 2025
3408 S. Budlong - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	4.875%
Principal balance	$ 601,352	609,626
Maturity date	Dec. 01, 2051
3408 S. Budlong - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.00%
Principal balance	$ 120,000	120,000
Maturity date	Nov. 01, 2029
3912 S. Hill Street - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.425%
Principal balance	$ 497,895	503,094
Maturity date	Dec. 01, 2050
3912 S. Hill Street - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.425%
Principal balance	$ 152,000	152,000
Maturity date	Nov. 01, 2026
4009 Brighton Avenue[Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	4.875%
Principal balance	$ 711,331	720,010
Maturity date	Nov. 01, 2051
3908 Denker Avenue [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	4.975%
Principal balance	$ 623,086	630,515
Maturity date	Dec. 01, 2051
4021 Halldale Avenue [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.75%
Principal balance	$ 757,294	766,071
Maturity date	Oct. 01, 2052
1284 W. 38th Street First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	4.625%
Principal balance	$ 640,301	648,605
Maturity date	Mar. 01, 2052
1284 W 38th Street Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.25%
Principal balance	$ 188,000	188,000
Maturity date	Jun. 20, 2029
4505 Orchard Avenue [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.00%
Principal balance	$ 640,292	648,282
Maturity date	Oct. 01, 2029
3777 Ruthelen Street [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	4.625%
Principal balance	$ 702,053	711,326
Maturity date	Mar. 01, 2052
3791 S. Normandie Avenue - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.225%
Principal balance	$ 608,891	615,682
Maturity date	Apr. 01, 2052
3791 S. Normandie Avenue - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.00%
Principal balance	$ 150,000	150,000
Maturity date	Jan. 04, 2029
2029 W. 41st Place - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.00%
Principal balance	$ 820,000	809,900
Maturity date	Dec. 31, 2029
4517 Orchard Avenue - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.225%
Principal balance	$ 473,453	479,070
Maturity date	Apr. 01, 2052
4517 Orchard Avenue - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.00%
Principal balance	$ 158,000	158,000
Maturity date	Mar. 01, 2029
1733 W. 37th Place - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	10.24%
Principal balance	$ 570,301	567,450
Maturity date	Dec. 20, 2023
1733 W. 37th Place - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.00%
Principal balance	$ 100,000	100,000
Maturity date	May 01, 2029
Hubilu- General Loan [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	6.00%
Principal balance	$ 335,000	$ 275,000

PROMISSORY NOTES PAYABLE-Related Party (Details Narrative) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Promissory notes, related parties		$ 89,593
Esteban Coaloa Family Trust [Member]
Defined Benefit Plan Disclosure [Line Items]
Loans payable	$ 89,593
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Promissory notes, related parties		$ 89,593

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
[custom:InterestCharge]	$ 39,229
Related Party [Member]
Related Party Transaction [Line Items]
Total advances	$ 474,271	$ 474,271

SCHEDULE OF ISSUANCE OF CONVERTIBLE PREFERRED SHARES SETTLEMENT OBLIGATION (Details) - Preferred Stock [Member]	9 Months Ended
	Sep. 30, 2023 USD ($) shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares outstanding, beginning balance \| shares	520,400
Preferred stock, value outstanding, beginning balance	$ 520,400
Preferred stock amount of preferred dividends in arrears
Preferred stock, shares outstanding, ending balance \| shares	520,400
Preferred stock, value outstanding, ending balance	$ 520,400
Settlement Obligation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, value outstanding, beginning balance	673,914
Preferred stock amount of preferred dividends in arrears	19,408
Preferred stock, value outstanding, ending balance	693,322
Dividend in Arrears [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, value outstanding, beginning balance	153,514
Preferred stock amount of preferred dividends in arrears	19,408
Preferred stock, value outstanding, ending balance	$ 172,922

SERIES 1 CONVERTIBLE PREFERRED SHARES (Details Narrative) - $ / shares	9 Months Ended
	Sep. 30, 2023	Sep. 08, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock voting rights	the 5% Voting, Cumulative Convertible Series 1 Preferred Stock date of conversion has been extended to the September 30, 2029.
Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred shares authorized and designated		2,000,000
Conversion terms	Each share of Preferred Stock, is convertible at the option of the holder, into shares of common stock, at the lesser of $0.50 per share or a ten percent (10%) discount to the average closing bid price of the common stock 5 days prior to the notice of conversion.
Dividend rate	5.00%
Preferred stock liquidation preference per share	$ 1.00