Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT IN REAL ESTATE

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INVESTMENT IN REAL ESTATE
9 Months Ended
Sep. 30, 2017
Real Estate [Abstract]  
INVESTMENT IN REAL ESTATE

NOTE 6 – INVESTMENT IN REAL ESTATE

 

At September 30, 2017 and December 31, 2016, investment in real estate consisted of the following:

 

    Useful life   September 30, 2017     December 31, 2016  
Commercial real property   39 Years   $ 7,708,571     $  
Less: accumulated depreciation         (53,009 )      
        $ 7,655,562     $  

 

For the three and nine months ended September 30, 2017, depreciation expense amounted to $20,066 and $53,009, respectively, which was included in real property operating expenses.