2 min read
Sources:
Kevin's account, Form 1-A, his own videos, press and public records
["lime","default","default","rose"]
Short answer
Three things on the record. He no longer owns rental property personally and says the company is the only place rentals sit. The two properties he or an affiliate did sell to the company were priced below independent appraisals and approved by the board with him absent. And every related-party transaction must be disclosed in the SEC filings, where they can be checked. What does not exist is a formal non-compete; the control is disclosure plus his own stake in the company’s success. 12
Personal rentals: None (by his account)
Insider sales to the company: 2 (both below appraisal)
Approval: Board, Kevin absent
Non-compete: None (disclosure is the control)
His account
Kevin’s account
I no longer own any rental properties personally. I own 100% of the controlling interest in House Hack, which is the only place rental properties are. I do not compete with my own company. 1
The record
The offering circular discloses two related-party property transactions. In 2024 the company bought a multi-unit building from Kevin for $1,600,000; an appraisal put it at about $1,850,000; the board approved with Kevin absent. In October 2025 the company bought its Ventura office from an entity affiliated with Kevin for $920,000, ending a $72,000-a-year related-party lease; two independent appraisals came in at $980,000 and $1,000,000. 2
Both went to the company at a discount to appraisal. That is the pattern a critic would want to see and the one the SEC saw during its review.
What is missing
A formal non-compete or a written related-party policy beyond board approval and disclosure. The company relies on the fact that Kevin’s wealth is in the company, that every insider deal must be filed, and that its founder has said in public where his rentals are. This page will carry a written policy if one is adopted.
In his own videos
May 2025: his account of the board’s reaction to the 2024 sale, with Ross Gerber asking why he was selling for $200,000 to $300,000 less than it was worth. 3
Every related-party item in the filings
Taken together, the reports list: the $1,000,000 note for his voting shares, $752,249 of which the company forgave in 2024 with $68,268 of interest; a $3,500,000 advance he made in September 2022, repaid shortly after; 269,000 non-voting shares issued in October 2022 to an entity he owns for software and intellectual property carried at a zero basis; the office lease from him at $6,000 a month since July 2023; the September 2024 purchase of a multi-unit building from him for $1,600,000, below the average of three independent appraisals; the 2025 purchase of the office building from his affiliate on appraisal; his $5,000,000 purchase of bonds in the first tranche; his aircraft provided without reimbursement through October 2025; and Ross Gerber’s firm’s paid cash-management services. Each is disclosed; none required a shareholder vote, because there are no outside voting shares. 4567
He stopped owning rentals himself, and the two deals he did with the company were appraised and approved without him in the room. 12
Simply put
✅ The pledge
➡️ Kevin says he owns no rentals personally anymore and does not compete with the company.
✅ The two deals
➡️ 2024: a building from Kevin for $1.6 million, appraised at about $1.85 million.
➡️ 2025: the office from his affiliate for $920,000, appraised at $980,000 and $1 million.
➡️ Both approved by the board with Kevin out of the vote.
✅ The gap
➡️ No written non-compete. Disclosure is the mechanism.
Sources
Kevin's account, Landlord influencer: “I own 100% of the controlling interest in House Hack, which is the only place rental properties are. I don't compete with my own company.” Read the excerpt
Form 1-A, Interest of Management and Others in Certain Transactions (2024 purchase from Mr. Paffrath at $1,600,000 against an appraisal of about $1,850,000, approved with Mr. Paffrath absent; October 2025 office purchase at $920,000 against appraisals of $980,000 and $1,000,000) Open the filing
Kevin on YouTube, "Responding to Allegations Against my Startup, HouseHack." (2025-05-16), at 13:47: “I remember Ross Gerber on our board saying, Kevin, I thought you were a capitalist. Why are you selling this for like $200 or $300 thousand less than it's worth?” Watch from 13:47
Form 1-SA for the six months ended June 30, 2023, filed December 14, 2023, Note 6 Open
Form 1-SA for the six months ended June 30, 2025, filed September 29, 2025, Note 7 Open
Form 1-A/A, offering statement for common stock, File No. 024-12302, filed August 24, 2023, Payment of Certain Fees and Expenses to Officers and Directors Open
Form 1-A/A, bond offering statement, File No. 024-12564, filed March 10, 2025 (cover data), Item 6, unregistered securities sold to insiders Open
