Summary of a tough update on my startup & mistake... HouseHack.

00:00:00 - 00:25:00

The speaker gives an update on his startup, HouseHack, which is facing some difficulties. He discusses the importance of patience and being efficient, and warns of potential competition in the market. Non-accredited investors can still potentially invest, but should wait until next year.

• 00:00:00 Kevin provides an update on his startup, HouseHack, and discusses the importance of patience in the real estate market. He notes that while the market is changing, there is still time for prices to rebound. Kevin also discusses the importance of being efficient and warns of potential competition in the market.
• 00:05:00 The speaker warns that if the housing market falls by 20%, many home buyers could have negative equity. He emphasizes the importance of patience and being prepared for a long market downturn.
• 00:10:00 The company is experiencing a tough time due to a decrease in disposable income, which makes it harder to buy and operate properties. They are, however, in no rush to purchase any real estate and are operating very lean. They also have a board of directors to make sure all decisions are made with reasonableness in mind.
• 00:15:00 The author discusses a tough update on his startup, which includes layoffs of one of his employees. He explains that employee's primary responsibility is to make sure bills are paid, and if they're not, there are consequences. He emphasizes the importance of clear expectations and autonomy for employees, and concludes by saying that this is an important lesson for anyone starting a business.
• 00:20:00 HouseHack has raised over a million dollars in commitments, but is facing a water bill issue and a need to reinvest money into Treasury soon. Founder shares will be non-dilutive, and only after an IPO will there be any dilution.
• 00:25:00 The startup is having some issues, but is hopeful for the future. Investors should sign up for updates on the company at HouseHack.InvestReady.com. Non-accredited investors can still potentially invest, but should wait until next year.