Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT IN UNDIVIDED INTEREST IN REAL ESTATE (Tables)

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INVESTMENT IN UNDIVIDED INTEREST IN REAL ESTATE (Tables)
3 Months Ended
Mar. 31, 2018
Investment In Undivided Interest In Real Estate  
Condensed balance sheet and condensed statement of operations for the real property

Current assets:    
Cash and cash equivalents   $ 5,626  
Accounts receivable, net     3,000  
Prepaid expenses and other current assets     56,255  
Total current assets     64,480  
 Land and Building, net     2,386,956  
Other assets, net     55,693  
Total assets   $ 2,505,529  
         
Current portion of mortgage payable   $ 38,353  
Other current liabilities     38,448  
Total current liabilities     76,801  
Mortgage payable, long-term     1,994,886  
Total liabilities     2,071,687  
Total equity     433,842  
Total liabilities and equity   $ 2,505,529  

 

Rental income   $ 63,211  
Expenses:        
Property taxes     6,646  
Depreciation and amortization     11,446  
Insurance     2,033  
Repairs and maintenance     5,349  
Other     10,087  
Interest expense     32,355  
Total expenses     67,916  
Net loss   $ (4,705 )