Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT IN REAL ESTATE

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INVESTMENT IN REAL ESTATE
6 Months Ended
Jun. 30, 2018
Real Estate [Abstract]  
INVESTMENT IN REAL ESTATE

NOTE 9 – INVESTMENT IN REAL ESTATE

 

At June 30, 2018 and December 31, 2017, investment in real estate consisted of the following:

 

    Useful life   June 30, 2018     December 31, 2017  
Commercial real property building   39 Years   $ 7,708,571     $ 7,708,571  
Improvement   12 Years     165,155        
          7,873,726       7,708,571  
Less: accumulated depreciation         (148,425 )     (84,814 )
        $ 7,725,301     $ 7,623,757  

 

For the three months ended June 30, 2018 and 2017, depreciation expense of this commercial real property amounted to $31,806 and $32,943, which was included in real property operating expenses.

 

For the six months ended June 30, 2018 and 2017, depreciation expense of this commercial real property amounted to $63,611 and $32,943, which was included in real property operating expenses.