Real Estate Owned (REO) - Activity of the Company's real estate owned (Details) - USD ($) |
3 Months Ended | 12 Months Ended |
|---|---|---|
Mar. 31, 2024 |
Dec. 31, 2023 |
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| Real Estate Owned (REO) | ||
| Real estate owned at the beginning of year | $ 3,461,519 | $ 5,216,149 |
| Principal basis transferred to real estate owned | 374,000 | 1,756,125 |
| Charges and building improvements | 229,587 | |
| Proceeds from sale of real estate owned | (121,146) | (3,039,749) |
| Impairment loss | (794,462) | |
| Gain (loss) on sale of real estate owned | (10,854) | 93,869 |
| Balance at end of year | $ 3,703,519 | $ 3,461,519 |
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- Definition The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. No definition available.
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- Definition Carrying value as of the balance sheet date of investments in rental real estate, net. No definition available.
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- Definition The charge against earnings in the period to reduce the carrying amount of real property to fair value. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of cash outflow to acquire investments classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Cash received from the sale of real estate that is held for investment, that is, it is part of an investing activity during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Value transferred from mortgage loans to real estate owned (REO) in noncash transactions. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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