Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT IN REAL ESTATE

v3.8.0.1
INVESTMENT IN REAL ESTATE
3 Months Ended
Mar. 31, 2018
Real Estate [Abstract]  
INVESTMENT IN REAL ESTATE

NOTE 9 – INVESTMENT IN REAL ESTATE

 

At March 31, 2018 and December 31, 2017, investment in real estate consisted of the following:

 

    Useful life   March 31, 2018     December 31, 2017  
Commercial real property   39 Years   $ 7,708,571     $ 7,708,571  
Less: accumulated depreciation         (116,619 )     (84,814 )
        $ 7,591,952     $ 7,623,757  

 

For the three months ended March 31, 2018 and 2017, depreciation expense of this commercial real property amounted to $31,805 and $0, which was included in real property operating expenses.