I have watched these guys struggle along for several years. I feel like they or something like them are a partial solution to our future housing needs, but I have not been convinced they are "the ones" that will do for affordable housing what Elon Musk did for electric vehicles. Their leaders have a strong vision, and seem energetic and likable enough, but with an extra layer of "sleaze factor" than is usually present. The best I can say is that it's truly a ground-floor opportunity.

Their latest round of direct equity raising closes in a few weeks, and I have briefly considered throwing a small bit of mad money toward their moonshot. Their offering circular (and website) are here:

www.boxabl.com

https://invest.boxabl.com/?utm_campaign=email05_29_25&utm_medium=marketinglistfull&_hsenc=p2ANqtz-_D7fGWEPE290yt_XYgH3DK3t4HP5uO-WC71vc5lZC9GDtlsbJ4sMcKArDfE87EHh6TP1gL04Zcy9h27ryHIbEIcpG9YA&_hsmi=363921014&utm_source=email&tnames=referral&utm_content=none&utm_term=&utm_page=home

As a general rule, offering circulars are gloomier and more scary than a graveyard on Halloween, but I think this one might take the cake. Given all this, does anyone see anything investable, here? I kind of want to, but ... just ... can't. Convince me?

I don't like the execution of the product. Flat roofs with hinges seem like a guaranteed future leak. And if I'm looking for something that small, I want it to have wheels under it so it can be moved. If I am unwilling to buy/patronize the product, I usually won't invest in it either (apple excluded).

But I'm also a long-term investor. If you're looking for good returns short-term, my advice is not applicable.

Thanks! I happened across these guys when looking at backyard ADUs.

On the roof issue, they recommend having someone produce a regular roof to mimic a main house, or to top it with something decorative. I don't think they expect many to have a flat roof in finished form.

I thought of reaching out to them to create a small AirBnB property (3-4 units) in the Texas Hill Country (glad I didn't). I figured they would partially subsidize them if I would allow investors or future homeowners to do periodic walk-throughs. Since the rental market has softened, I no longer have interest in this project.

If they truly can achieve scale, I can see them getting good bids with FEMA, low income housing, additional structures for a ranch/compound, and maybe some fringe of city limited subdivision type developments where land cost is still attainable (Conroe, Denton, Taylor, Boerne, etc.?).

As far as wheels, I know they don't want to have these looked at as mobile home alternatives (they're "permanently" attached to a regular slab foundation), but I do think relocation is possible, with some significant pain, I'd imagine.

At 80 cents a share, I figured throwing a few thousand at them on the off chance it actually succeeds might be worth the risk. I planned on visiting their factory on a future Vegas trip, but it looks like this subscription closes soon.

Still not convinced, but open to other ideas, if anyone cares to share?

Have you tried to buy a home from them? Every time I look for pricing or anything, everything points to investing in their business vs selling you a home. You can go on Amazon and find several companies that sell homes that unfold for $10,000. I don't think they can execute.

Troglodyte said:

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Have you tried to buy a home from them? Every time I look for pricing or anything, everything points to investing in their business vs selling you a home. You can go on Amazon and find several companies that sell homes that unfold for $10,000. I don't think they can execute.

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Well, they've only produced 600 units (likely all handbuilt, including prototypes?) in their existence, so I tend to agree with you. It always seems to be about the next "bigger factory" with them.

They used to have a more robust quoting system on their website, but it's clear that their focus is on raising as much cash as possible to stay afloat.