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, 2018
Real Estate [Abstract]  
INVESTMENT IN REAL ESTATE

NOTE 8 – INVESTMENT IN REAL ESTATE

 

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

 

    Useful life   September 30, 2018     December 31, 2017  
Commercial real property building   39 Years   $ 7,708,571     $ 7,708,571  
Improvement   12 Years     392,571        
          8,101,142       7,708,571  
Less: accumulated depreciation         (180,230 )     (84,814 )
        $ 7,920,912     $ 7,623,757  

 

For the three months ended September 30, 2018 and 2017, depreciation expense of this commercial real property amounted to $31,805 and $20,066, which was included in real property operating expenses.

 

For the nine months ended September 30, 2018 and 2017, depreciation expense of this commercial real property amounted to $95,416 and $53,009, which was included in real property operating expenses.