Kevin is REALLY good at interviewing! Watch how enthusiastic he is, how he asks leading questions & verifies answers & probes for further info without criticizing the owner or raising his defenses. Kevin also REALLY knows his stuff in house-building & construction materials. Gov't Relations I think his analysis of the info he extracted is correct: there's a LOT of red flags here. Promising, but the owners aren't playing straight as we'd want, bureaucratic & systemic constraints on their ability to deliver are WAY more significant than they're acknowledging. They're admitting the problems but not really acknowledging they're potentially show-stoppers. Much of the permitting problems are analogous to the protectionist problems Tesla has faced from state licencing boards for car sales, actions taken due to political pressure from car dealer associations. The difference is, worst case, Tesla sells direct through the state next door, asks you to drive from Austin (or wherever) in Texas to Oklahoma to take delivery. Cars are inherently mobile. Houses are not, and you're subject to local permitting for approval. Utility connections are fixed. Standards vary by state & are constantly changing. This is a nightmare. Scaling & Vision Something else Kevin didn't highlight: he pulled out that R&D is just the three owners, but this owner asserts that they're not hiring people with specialised trades knowledge (expensive); they're hiring general labour (cheap) & training them in what to do. This contrasts with what Tesla does: Tesla spends $$$ to hire engineers - LOTS of engineers - & develops teams to address design & production problems, work on constant improvement. Housing is a much more basic industry, & these guys aren't changing that. They're bringing some smarts to the table but Tesla, they aren't. And they're not really building a company. They're building a machine in theory, one capable of increasing production rate over traditional manufactured housing (one-offs), but they aren't building a company of people that operates, innovates independent of the three guys who own it. THAT'S A PROBLEM which Kevin notes briefly ("R&D is just the owners") but which deserves greater scrutiny. DR Horton is a massive homebuilder, a real company: the owner(s) could step away & the juggernaut continues. Tesla is MUCH MORE than Elon Musk: he's built an organism, a free-standing & self-sustaining business of people who design, produce, manufacture & innovate without Musk's direct attention. These guys aren't doing that & don't seem to see the need to do so. THAT'S A PROBLEM. Ethics - Compare with Kevin's I'm intrigued that Kevin is floating his own startup (HouseHack) with zero dilution for investors. This is Kevin's brand: transparency & honesty. He's paying for the jet. He's not discounting investors' money. And he's making it very easy to see where his strengths lie, what he knows about the business he's starting, how he operates. I REALLY hope Kevin is able to offer a public offering for non-registered investors (the public: you & me). It'll be fun to watch this guy mix genius with ethics & build a massive business. Kevin has had tremendous success to date but it looks like he's deserved every cent he's made. That's inspiring.

I’ve been in the construction industry all my life and a general contractor I think this company has huge potential. The idea of having one of these delivered after I have the foundation and other things needed would be a tremendous help and I think I could build a very nice business around their product.

I built my own fully solar-powered completely off-grid tiny home on wheels out of a highly insulated refrigerated truck box with all the amenities of home for under 10k.. including 12-volt air conditioning and heat, recirculating shower with filtration and UV, 65-inch TV with internet, convertible couch/bed, running water, microwave, convection oven, air fryer, coffee maker, compressor refrigerator/freezer, oh and PS4! 😂 Ben off-grid now for almost four months with no bills absolutely loving it!! Ultimate freedom on the cheap!!

Making an Expose video by visiting the actual people and makers and talking with them is PEAK research! Good Job.

Just finished converting a shed to a tiny house...had to add electrical, driveway, plumbing, everything...cost about $70,000.00 all in. Bought the Shed 2nd hand($12,000 on FM) and that saved money. Going to make into an airbnb rental. We paid a contractor to do everything. In rural Missouri.

i dont think it was cool to say any negative comments about the co founders BEfore showing us the tour as it skews the bias of how we may feel about the tour ourselves.... otherwise good video

as soon as the owner said he had a marijuana farm and a bitcoin mining business before the boxable business, I know 100% this one is going broke in the near future

I love that Boxabl bought ad space just to criticize Meet Kevin.

I've sold 500+ homes, probably been in thousands and been through hundreds of inpsections both new and old. The amount of knowledge Kevin has about construction is absolutely mind blowing. I know real estate and I feel stupid listening to him talk real estate.. lol GG Kevin. Awesome video.

If you watch the full video The main red flag is valuation. There has never been a private company that hasn't sold shares at a value far ahead of where they are actually at. Investing in private companies is about investing in a vision and execution of the management. Boxabl management has achieved quite a lot in the last couple years. I'm invested in many private companies and these guys are actually taking quite a small salary and getting a lot done.

Kevin, thank you for “exposing” Boxabl. I watched the entire 2 hour video and the co-founder provided a great tour and interview. He was transparent on the good and challenges they have, humble and polite despite the CONSTANT interruptions while he was answering questions and providing information. I think people are blinded by the past regarding real estate and not looking at what is being pushed fir the future of real estate. The gov’t WANTS people to live in tight communities. In some areas the cities are encouraging this type of housing. That means there is an even larger push coming for this type of housing. Another piece of proof is the fact that the co-founder mentioned they RECEIVED GOVERNMENT FUNDING! They are being encouraged and incentivized by the gov’t. I see a future with this company, and others like it.

I found the founder very honest and genuine. The company is massively over valued, but this is not uncommon for companies of this nature. Wrights law will take hold the more they ramp up production. Once they are at scale, it may be hard to take market share from them. Like i said, way over valued at this stage, i expect this to normalise over next year or so. I am happy to watch and wait for their margins to show a stable path to profit and then think about investing.

I first heard about Boxabl through an ad to invest in it and when I looked into it, found out about how they'd shipped to SpaceX. I was interested as an investor, so I did the math and immediately wondered how they were planning on raising any money with that level of dilution, so I'm surprised to hear they've raised over $140mm. I feel like this is another WeWork scenario unfolding.

They received $150 M from investors. A $3 B valuation ( $3,000 M) means dilution is $3,000 M /$150 M= 20 so the cash from $1M invested is worth $1M/20 = $50,000, not $318. Kevin's math error is that he treated a $1M investment as if that was the *only* cash they received. A 20x dilution factor is more inline with the "typical" example he gave which was 10x dilution.

I will say. Taking a huge salary (by most people’s standards) AND selling $5mil worth of shares at such an early stage is a big red flag to me. I get hedging your odds, but that money basically was directly transferred from investors to his pocket, which I’m not a fan of. Although this sort of thing isn’t uncommon in corporate culture in America unfortunately

It will never be 'approved' by Cities until they get their cut!

I bought an abandoned house and tore it down hoping that in a couple years I could replace it with a Boxabl. You could easily rent out a $50,000 house for $500 a month which would be affordable and profitable. But it's looking more like I'm going to have to build a standard house which is fine. I can still meet my target rental price point but it's going to take longer to get the funds to do it. The problems they're having with permits is probably more related to entrenched interests. It takes time to change laws. They also need to cut the minimum lot size for these to really make sense. If I could split my lot in two with 0.05 acres each, it would double the available affordable housing. 0.1 acres is really excessive for such a small home.

A $3 billion home builder with $5 million in manufacturing equipment really tells the whole story

The key to the cost of these buildings is cheap rigid foam material for the walls/structure not factory style construction. Same home could be built on site for less. The whole folding concept is garbage imo.

As soon as he said marijuana farm and bitcoin exchange, you can tell he does not give a half shit for this company, he's in it for the money, as soon as the money disappears, he's gonna disappear and start a new start-up. What a scam!

The CNC machine I would recommend is C.R. Onsrud. They got some serious speed. Originally wood working equipment but they can do other things as well. Better to upgrade the spindle though for metal work.

I saw Graham's video from a month ago about the company and his summarization of it. Seeing this full breakdown is truly awesome and it's a shame Boxabl is the way it currently is. Hopefully they don't become another company that promises more than they realize from the get go

Sick "Step Brothers" reference! It's what gives us "room for activities".... 😂🤣😂🤣😭😭

The country, actually the world, needs affordable housing. I had high hopes for Boxabl. The only way this works is if manufacturing exists in multiple states to reduce transportation costs and local talent for labor. The other challenge is permits and licensing within communities. Until these issues get worked out or the country experiences a real depression, the real growth sadly won't happen. Dream that the people living in shelters and on the streets are able to work and afford the American dream of home ownership. Something safe, affordable, and provides opportunity !

Boxbl seems extremely sus. They seem to care more about Marketing their products rather than speeding up the operations. Nikola vibes to me

This really does sound like a great company that just needs time. They know they have the market, now its time to first get the process streamline so when they truly launch to the day to day people like us. It’ll take weeks even a month or 2 to get our product. Not years like other companies we know. That’s my input on this.

I love Kevin and follow him religiously. But this guy seems like he knows what hes talking about. And basically saying they had a concept it took steam and ran into more road blocks then what they thought they would run into. He obviously has to be still politcal when taking on so much investor capital he cant be totally transparent when he knows its going on youtube. I actually believe in this concept more now after watching this video. And I was expecting them to be a flop hahah Thanks kevin as always for the value!

BOXABL is totally disorganized, not worth the risk

I REALLY hope these guys can get their crap together and make good cheap, pop up homes

The simplest thing will play with the unaware. In our area anything over 120Sqr Ft. Must be on a Foundation. Lots of sheds get into trouble let alone mini-homes. Permits in many areas are horrid over the smallest items.

I have found my love for Kevin's videos again. Thanks Kev, super job w this one!!!!!

I still have very high hopes for this company. Sure the beginning stages are going to be a bit rocky with many obstacles to overcome but the product is a game changer none the less. I believe they will iron these kinks out in due time and Boxabl will have a firm foot in the future of transforming the global perspective of affordable housing. I also love how the owners didn’t dodge any of the questions. They answered with integrity and transparency. I expect this company to be a complete powerhouse in 2 or 3 years. They know what they’re facing and have a clear direction of what needs to be done to reach their goal. I’m excited to watch their growth. They’re starting to garner a lot of attention and mostly for the right reasons. Kudos to them.

This factory will fail. Another example why a kid with no hands on experience should never be in charge of a big operation. Something smells very fishy. Where there is smoke there usually is fire.

First Marijuana, Bitcoin, now I’m working on this tiny house scam 😂

Did anyone see the Box able ads. I like the founder , he is very open... He is very likable.

I’ve talked to people at their company including the founders they don’t know what they’re doing.

Appreciated this interview. (Small investor, future customer.) Thanks Kevin and Galiano!

This was an interesting tour. It sounds like they are still working things out, so not surprised at some of the things that came out. I saw this a while ago and really liked the concept of it. I'm interested to see how they progress as a company.

Tough road ahead. Hope they have the resilience to get through it

Anyone else get a boxable ad before this vid?

I hope you at least gave them a chance to rebutt your findings after you researched their public records

I don't know. I think these guys are doing the best they can with what they have. Not every CEO is an Elon Musk. I think the guy being interviewed is pretty sharp. Kevin is awesome but sometimes he's a little too hard on others trying to make it. Kevin has detractors too and some of what they say is true. I think these guys are where Tesla was in the very early days. Totally different product and processes but give them a chance. Clearly he's passionate about what they do. He's not Elon and doesn't share his vision for saving the planet but what they are doing is so needed. Give them a chance, let them figure it out. I hope they do because I would love to put some of these on my properties.

ive been waiting for this 4 a while, happy its out :)

Kevin can certainly make KZfaq videos, but he is obviously never built a real operating business. This is a completely unfair assessment of where boxable currently is in the lifecycle of their business. Yes, the company is massively over valued at the current offering. But to have some expectation that they would not be constantly improving their product is crazy. This would be like Kevin criticizing Elon musk 10 years ago when he was iterating and figuring out how to build an electric car. Tesla is still improving their product and pricing… Does that mean they will be a failure and “never deliver an actual product?” give me a break Kevin, this is a poor attempt at Clickbait.

Did anyone else get the ad of the founder saying the video is misleading?

I haven't seen anything about the cost of land, permitting, how does water and electric power actually get into the boxes? Apparently you can stack them upwards, side by side. By the time you had one large enough for actual living, it would exceed the cost of a regular house.

CEO definitely seems suspect. I’m smelling incompetence.

Great as always Kevin. Thank you.

Affordable housing in California STARTS with a change in regulation, permitting, and changes with utility company process for service changes. Without those changes ‘affordable housing” is lip service.

Did anyone notice he said they have 60 patent filing so basically it’s a request so there is a chance there are others who are doing this already and they are the first movers. Kind of scary

Kevin, I think you are likely correct, they have a few years to go. They will need to build a whole community before it really starts to take off. Meanwhile the valuations are extreme, it's all based on potential. But I'm still hopefull that they can churn out 2 bedroom, 2 bath homes at 100k base model with services and the slab, all in. We gotta do something to give Gen Z and retirees a fighting chance as this nation grows. Not everyone can afford a 350k stick and timber 2 bedroom home and there will be fewer and fewer if we don't create more viable jobs.

if they ever scale up to 500 units per year, they will fullfill Unit # 100,000 in 200 years. Sad 😭

Thank you very much for pointing out that the Boxabl Casita is a Park Model RV and is not certified as a modular home anywhere in the U.S.

The company ticket symbol is “trust me bro”

Great work Kevin. Was about to send 25k to them last year until I read their prospective. Then they kept reminding me to send in the money. So glad I didn’t.

Amazing video. Thank you Kev

Those guys following around look like lawyers.😂 the comment about “where is everybody, is it lunch time?” That was funny.

Great Stuff! Thank you.

The content is incredible well thought out, the intro is great, the tour is one of a kind with actual useable info, the interview is probably the first time they have been this transparent, the title, well please change the title, its a little much to call it what it is when everyone else thinks they are the darlings of modular housing. Great work, thank you!

I think the founder was honest and the company is impressive with really ambitious plan. I don’t have an issue with the 3 founders making roughly $400k in salary and selling some of their company for personal profit. It’s clear that they are innovating and operating. I don’t think it’s a fraud, though the valuation is crazy based on current operations. And I think the owner saying it’s an all or nothing investment is surely honest and forthcoming. Am I investing, no, but am I interested, yes.

There was no way I was going to put money into this years ago when I got on the waitlist but this is so much worse than I could have imagined. These guys clearly don’t have the drive and don’t believe in the future of their own product. I doubt they will deliver to private homeowners within 5 years, and likely never.

I love the company it’s different and brings great value

Another great expose documentary. But for many of us who are have built ADUs in states with building and zoning codes, it was obvious from day 1 that boxable was little more than a tiny home on wheels (without the wheels). In other words, it always has been obvious that they would not get permits. If I were mot busy, I would change state law to allow for statewide certification of Boxabl ADUs, meaning that units built to the statewide standard would be permittable by right throughout the state. More importantly, @meetkevin, ADUs need to be built to a yet to ve established standard that allows them to be "separable" (sold separately to the main unit). This would produce a landslide of small scale distributed residential development, and entire generations of young adults would once again be able to own a piece of the American dream. The dream will be in hibernation until states impose mandates to eliminate the strangle hold that cities impose on new RESIDENTIAL housing that people want.

Being a Boxabl shareholder, when I listened to Kevin's opening comment, I felt like I had made a poor investment. After watching the entire video, I feel I've made a good investment. It was also great to see the factory and hear the Gen 2 ideas. Galiano is a down to earth, transparent person. I like him every time I hear him speak. Kevin asked some hard & personal questions, and Galiano answered them all without hesitation. Good luck to Boxabl, we need this type housing! NOW.

Seemed sus to me when the advertising said to put down $$$ but no one seemed to actually have one to live in…. Sus

Great content ❤

Kevin seen right through the financials, the Boxabl ad in the middle of the video bashing Kevin was hilarious

boxable really ran a AD on this video as a warning before you watch he video is crazy. I wonder how much they are paying for the ppc

By selling shares without previously announced sales to be approved by the board. It is like taking investors monies straight out of the bank., money that the company doesn't have, really. The SEC should open an investigation into "Boxabl" before they are able--"abl" to reap off more people.

This video was long overdue. I've been following boxabl since the very very beginning. I was going to invest when it was open to all investors, but after looking through their documentation, and how the investment was going to work, it made me pause and reconsider. I'm no expert, but it sounded to me like there was no benefit for me to invest. Therefore, it was a no from me.

Wow😳 such a disappointment, they were so misleading 🤔 wondering if they'll be facing any lawsuits in the future 🧐

Is it possible they hold the patents in a separate LLC in case Boxable goes broke and then the founders can go start a 2nd time around?

Good work Kevin, love these videos.

Buckminister Fuller tried to fix housing issues too, and he met much resistance. It’s almost like most people do not want to fix housing problems.

Mans was stoned to the bone! 😂

Queen playing in the background “Another one bites the dust”.

Putting the financial viability of the company aside for the moment, I think they are some major issues that seem to be insurmountable. Houses live in Mother Nature and are exposed to the environment 24/7 , wet, dry, hot, cold. I haven’t seen any significant real world testing. It seems they went straight from prototype to taking orders and production. They are already talking about version 2.0 and they haven’t delivered significant units in version 1.0. Many products don’t survive first contact with real customers. I hope customers who put down deposits don’t get burned.

This is very outdated. This is not a public company. Shares can’t be sold. Start ups sell different kinds of shares to different kinds of investors. All start ups do that. Investors gamble on the future value of the stock. They know it.

Bet on people. Not products. Boxabl boy is a no go for this betting man. Gimme those house hack shares baby!!!

$3 billion valuation for a business that produces 8 houes a week - at a loss. That's crazy!!

No one is working. Everything is once we do this once we do that. Wtf. Daddy and son are cashing out investment money of people and are not putting time in the business.

Besides the fact that this guy is a total bro and his company is absurdly overvalued right now, they may be on to something. If they can get costs down and can sell 5-10000 units a year they could probably turn a profit in 5-7 years if they get to 25k units a year they could be a powerhouse. I wouldn’t buy at that valuation by any means, but the concept is compelling.

Id rather them sell their own shares to get money than increase their salaries

Anyone else get the ad of the boxable guy during the video 🤣🤣 Bought targeted ad space to refute claims by Kevin

Thanks. Good info. Why didn't you ask about this new "team" that is now helping them go beyond the original founders ? Seems super relevant.

Good work Kevin ur intellect and honesty is inspiring. You asked all the right questions.

It looks like he felt a little blindsided at your very specific financial questions. I feel that as a failure on his part for misunderstanding who you are and your knowledge base. It seems like he prepared for a rich young man interested in some building information and not a real estate guru and businessman understanding the ins and outs of laws and company financing. It does sound like they’re getting rich way faster than their companies own success but I still like what they’re doing.

kev im a fan. im building small homes inspired by boxables in New Jersey already built with permits passed already and I need help scaling how can I get a on one with you and partner with house hack? are there any consultations one on one through zoom maybe let me know.

I got the prospectus when Boxabl was just starting to expand. In reading the materials it became apparent that the incestuous relationship of the founders/management at least provided the opportunity for fraud or at least a lesser version of such. It seemed very high risk even though it was advertised as 'solid as a rock'.

Figuring out a home is NOT ROCKET SCIENCE

building housing on site produces a lot of waste. hopefully someone can make these pre-built houses.

Might want to explain how boxable is not an elon musk company before you convince people to start dumping Tesla stock thinking this is an elon musk company, your thumbnail suggests this has something to do with Elon musk when it really doesn’t, he just owns a house this company builds

He took a $5,000,000 payout before his company is even profitable... Must be nice.

I got to give it to yeah I’m a bear on you but this is some quality journalism. He was in hot water when you talking to him about intellectual property

The short term goal was 416 homes completed in 2023. How did it go with these? I couldn't find any news about delivered and completed Casitas.

Classification as an RV might actually make it easier to get one parked on your own lot, depending on where you live.

Kevin, its slightly misleading that your company is valued at Cash. I went through the website and it says in the event of an exit, you and others might get options. Its not clear what is the value of those options. In theory that could lead to a similar situation as a company that is selling shares similar to any other start up. I have no problem with a founder or others retaining more than their cash investment but your claim is misleading, which I think you should make clear or atleast make clear everytime you make a statement about this. In all likelihood, given that this investment is illiquid, your deal might actually be the same as any other start up as such. You just need to provide how much payout you and others might get from the exit.

Almost bought some for a Hill Country plan (vrbos 1yr ago), but when you watch the founder (basically, this thang, that thang, we might, we could, round up, maybe this, maybe that, so we did that, but..., hopefully ... Yiu know, you know, funding possiblities, big solutions, big opportunities, maybe, maybe, maybe, growing list... oh stop) in action it didn't work for me. Watching him is cringeworthy. {It's too easy to raise bucks. Good grief, look at that factory. You can't bs a bs-er.}

best video about boxable yet. but dont cut out retail. Going through developers entirely undoes the beauty of boxable.

Pot farmer and Bitcoin exchange. Dang it. I had high hopes too.