My City Builders Inc

My City Builders, Inc. (OTC: MYCB) is a Miami, Florida-based real estate company incorporated in 2022 and formerly known as iMine Corporation before its April 2023 name change, focused on acquiring, developing, leasing, and selling real estate properties to serve low-income individuals and families in the United States. The company operates through its subsidiary RAC Real Estate Acquisition Corp (RAC) and concentrates its real estate strategy on three primary acquisition channels: purchasing and refurbishing traditional foreclosed properties, acquiring and developing properties held in Land Banks — government-managed inventories of vacant, abandoned, or tax-delinquent properties available for affordable housing redevelopment — and acquiring homes available through Home Equity Conversion Mortgage (HECM) pools, which are reverse mortgage portfolios that generate property inventory when borrowers vacate or pass away.<br><br>The affordable housing sector in the United States has been characterized by a persistent and widening gap between the supply of affordable rental and ownership housing units and the demand from low-income households seeking safe, decent, and affordable shelter. Community Development Financial Institutions, non-profit housing organizations, and for-profit developers like My City Builders all play roles in this market, employing various subsidy programs, tax credit mechanisms, and public-private partnerships to make housing development financially viable for low-income populations. Land bank properties in particular represent a pathway to affordable housing development, as municipal land banks can convey properties at below-market prices with deed restrictions ensuring their use for affordable housing purposes.<br><br>My City Builders, Inc. trades on the OTC market under the ticker symbol MYCB and files periodic reports with the Securities and Exchange Commission, including quarterly 10-Q reports that document its real estate portfolio development activities and financial condition. The company's focus on HECM pool acquisitions, foreclosure rehabilitation, and Land Bank development represents a multi-channel strategy for accessing the below-market real estate inventory that can support affordable housing production while maintaining financial sustainability as a for-profit enterprise. As the affordable housing shortage continues to deepen in major U.S. metropolitan areas, My City Builders participates in the market for real estate solutions targeting the lowest-income segment of the housing demand spectrum.