# My City Builders, Inc. > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/en/companies/My City Builders, Inc.). ## Overview My City Builders, Inc. is a U.S.-based real estate development company focused on acquiring, refurbishing, developing, and monetizing low-income housing assets. After disposing of prior operating entities, the company is now centered on its Glencoe, Alabama land project, where it plans to build multifamily units in phases for future rental income or sale. ## Products & services • Acquisition and development of low-income housing • Refurbishment and sale of foreclosure properties • Land bank property development and rental • HECM pool home acquisition and redevelopment • Multifamily unit development in Glencoe, Alabama - **Property acquisition and redevelopment** (45%) — Purchasing distressed or underutilized homes and land for refurbishment, development, or resale. - **Rental housing operations** (25%) — Operating rental homes and recognizing lease income from tenants under rental contracts. - **Inventory home sales** (20%) — Selling completed or refurbished homes held for sale as inventory. - **Development pipeline and land banking** (10%) — Holding and preparing land for phased multifamily development and future monetization. - Acquisition and development of low-income housing - Refurbishment and sale of foreclosure properties - Land bank property development and rental - HECM pool home acquisition and redevelopment - Multifamily unit development in Glencoe, Alabama ## Customers The company serves households seeking affordable housing, with management specifically noting low-income individuals and families as target buyers or tenants. Its revenue base has historically come from tenants in rental homes, while future demand is expected to come from renters or homebuyers of completed multifamily units in the Glencoe project. - **Affordable housing tenants** (primary) — Households renting company-owned homes for lower-cost housing and stable occupancy. - **Homebuyers of refurbished inventory** (secondary) — Purchasers of renovated foreclosure or inventory homes sold after redevelopment. - **Future multifamily renters and buyers** (emerging) — Residents expected to occupy or purchase units from the Glencoe development pipeline. - Low-income individuals and families seeking affordable housing - Tenants in rental homes generating recurring lease income - Buyers of refurbished or completed homes for sale - Local housing demand in markets where affordable supply is limited - Potential renters or buyers of future Glencoe multifamily units ## Geography The company is headquartered in Miami, Florida, but its current development focus is in Glencoe, Alabama, where it acquired 4 acres for a phased multifamily project. Its business is therefore highly localized and exposed to permitting, zoning, construction financing, and local housing demand in a single project market. - Headquartered in Miami, Florida - Current project focus is Glencoe, Alabama - Local zoning and rezoning approvals affect project timing - Construction and rental economics depend on one primary development market - No country-level revenue disclosure was provided ## Strategy The company is repositioning itself around a single real estate development pipeline after disposing of prior operating subsidiaries. Near term, it is focused on securing construction financing, completing rezoning, and advancing Phase I of the Glencoe multifamily project, with future monetization expected through rental income or unit sales. - **Obtain construction financing** (short-term) — The project cannot begin without debt or equity funding to support development. - **Complete rezoning and permitting** (short-term) — Land use approvals are required before residential development can proceed. - **Build Phase I of the Glencoe project** (medium-term) — Phase I is the first revenue-generating step in the new business model. - Secure construction financing for the Glencoe project - Complete rezoning from commercial to residential use - Advance Phase I multifamily development planning - Use phased development to manage capital needs and execution risk - Target future revenue from rentals or completed unit sales ## Risks The company remains highly dependent on external financing, and management has disclosed substantial doubt about its ability to continue as a going concern. Execution risk is elevated because the business is concentrated in one development project, while permitting, zoning, and construction delays could materially postpone cash generation. - **Going concern and liquidity shortfall** [critical] — The company has limited cash, a working capital deficit, and no committed financing for development. - **Construction financing dependence** [high] — The Glencoe project requires debt and equity funding before construction can begin. - **Permitting and zoning delays** [high] — Real estate development depends on local approvals, rezoning, and possible litigation. - **Project concentration** [high] — Future operations are centered on one Alabama development pipeline. - **Dilution and unfavorable financing terms** [medium] — Management may need to issue equity or accept expensive debt to fund operations. - Limited cash and working capital deficit constrain development activity - No committed construction financing increases project execution risk - Rezoning and permit delays can postpone or block development - Single-project concentration increases dependence on Glencoe success - Penny stock status and dilution risk may limit capital raising ## Accounting Revenue recognition depends on whether the company is earning rental income over time or recognizing sales of inventory homes at closing, which can create uneven period-to-period results. Investors should also watch estimates for depreciation, impairment, related-party settlements, and loss contingencies, since these items have already affected reported earnings and can materially change net income. - **Revenue recognition for rentals and home sales** — Can shift revenue and margin recognition between periods. - **Depreciation and rental-home operating costs** — Affects operating margin and cash conversion. - **Related-party settlements and debt extinguishment gains** — Can distort underlying operating performance. - **Loss contingencies and legal/professional accruals** — May require accruals that reduce earnings. - **Impairment and valuation estimates** — Could materially affect asset values and net income. - Rental income is recognized straight-line over lease terms under ASC 842 - Home sales are recognized when control transfers, affecting timing of revenue - Depreciation and cost of rental homes reduce reported operating profit - Related-party debt settlements can create large one-time gains - Contingencies and impairment estimates can materially change earnings --- *Last updated: 2026-04-28T20:27:54.219695+00:00*