2 min read
Sources:
his own videos, Form 1-SA, press and public records
["default","default","amber","lime"]
Short answer
He has narrated the company’s finances on YouTube since day one, and the claims can be set against the filings. September 2022: $21.6 million raised in 19 days. January 2023: $21.5 million in Treasuries. February 2024: 175 days of operations and $24 million of real estate. May 2025: a first-quarter earnings call, operating expenses down 42% annualized, gross margin up from 56% to 63%, EBITDA positive, about $37,000 a quarter negative after interest on about $70 million of assets. August 2026: about $100 million of assets at his ballpark market value, $16 million liquid, mostly cash. The filed figures for June 2026: $63.1 million of real estate at cost, $16.3 million liquid, $539,484 income from operations for the half. 12345
Feb 2024: $24M real estate (175 days operating)
May 2025: Opex down 42% (gross margin 56% to 63%)
Aug 2026: ~$100M assets (his ballpark at market; $16M liquid)
Filed, Jun 2026: $63.1M at cost ($16.3M liquid)
The public narration
Date | What he said | Source |
|---|---|---|
September 28, 2022 | $21,631,500 raised in 19 days, average $53,998 | video |
January 29, 2023 | $21.5 million in Treasury bonds; wedge finder carried at about $269,000; payroll paid by Kevin personally | video |
February 23, 2024 | 175 days of operations; $24 million of real estate bought so far | video |
May 16, 2025 | First-quarter earnings call; operating expenses down 42% annualized; gross margin 56% to 63%; EBITDA positive; about $37,000 a quarter negative after interest, on about $70 million of assets | video |
August 26, 2026 | About $100 million of assets at ballpark market value, no appraisals; about $16 million liquid, over 85% of it cash; software segment self-sustaining | video |
The filings
At June 30, 2026: real estate at cost $65.9 million, net $63.1 million; liquid assets $16.3 million; convertible bonds $38.6 million; revenue $3.17 million for the half; income from operations $539,484; net loss $150,608 after $871,185 of bond interest. 5
How to read the gap
His asset totals are his estimate of market value, and he says so each time. The filings carry real estate at cost. The liquid figures, which do not depend on opinion, match. The margin and expense claims from the 2025 earnings call are consistent with the swing from an operating loss in early 2025 to operating income in 2026 in the filings, but the quarterly call itself is not a filed document.
Why this page exists
Because the fastest way to check whether a founder talks straight about his company is to line his videos up against his audited statements. Here they are.
The filed numbers for the earlier periods
First half of 2024: rental income $744,031, operating expenses $2,252,336, net loss $1,483,316, real estate at cost $35.8 million, 8 properties bought in the half. First half of 2025: rental income $1,218,183, net property income $280,107, other operating expenses $959,298 including $148,387 of R&D, net loss $771,110, real estate at cost $47.4 million across 25 properties, bonds $16.8 million. Set beside his February 2024 claim of $24 million of real estate at 175 days and his May 2025 claim of 42% lower operating expenses and a 56% to 63% gross margin, the direction matches: G&A fell from $1,553,384 to $810,911 half over half, a 48% reduction. 67
His numbers run ahead of the books because his are market value and the books are cost. The liquid-asset figures match; the asset totals differ for that reason. 45
Simply put
✅ What he has said
➡️ How much was raised and when. What it was parked in. When operations began. Margins and expenses on a quarterly call. His guess at market value.
✅ What the filings say
➡️ Real estate at what it cost, not what it is worth. Cash and Treasuries to the dollar.
✅ Where they agree
➡️ Liquid assets: he says about $16 million, the filing says $16.3 million.
✅ Where they differ
➡️ Total assets: about $100 million his way, about $80 million the accountants' way, because buildings are carried at cost.
Sources
Kevin on YouTube, "How much my Startup has Raised in 19 Days | HouseHack." (2022-09-28), at 5:04: “we have raised twenty one million six hundred thirty one thousand five hundred dollars” Watch from 5:04
Kevin on YouTube, "Revealing the Profit (or Loss) of my Startup: HouseHack." (2024-02-23), at 0:00: “as of today we've been operating for 175 days ... $24 million of real estate” Watch from 0:00
Kevin on YouTube, "Responding to Allegations Against my Startup, HouseHack." (2025-05-16), at 0:39: “we decrease our operating expenses by 42% on an annualized basis ... our gross margin increased substantially from 56% to 63%” Watch from 0:39
Kevin on YouTube, "An Quick Update on My Startup: Reinvest." (2026-08-26), at 6:19: “It's about a hundred million in assets. about 16 million of that is in liquid assets. The vast majority of that is cash.” Watch from 6:19
Form 1-SA, Balance sheet and MD&A, June 30, 2026 (real estate net $63,082,646; liquid assets $16,346,435; income from operations $539,484) Open the filing
Form 1-SA for the six months ended June 30, 2024, filed November 26, 2024, Statements of Operations; Note 4 Open
Form 1-SA for the six months ended June 30, 2025, filed September 29, 2025, Statements of Operations; MD&A; Note 4 Open
