Note 7 - Notes payable

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Note 7 - Notes payable

7.       Notes payable

	June 30, 2016 $	December 31, 2015 $
Mortgages payable on February 20, 2034, bearing interest at a variable rate, collateralized by a deed of trust on the real estate properties purchased with the loan.	199,159	203,343
Promissory note payable on November 1, 2019, bearing interest at 5.371% per annum, collateralized by the real estate properties titled to ARP Borrower, LLC and 100% equity ownership in ARP Borrower, LLC. The note is also secured by the Company.	1,639,885	1,651,183
Promissory note payable on December 1, 2020, bearing interest at 5.88% per annum, collateralized by the real estate properties titled to ARP Borrower II, LLC and 100% equity ownership in ARP Borrower II, LLC.	962,490	968,000
Promissory note payable on May 27, 2016, bearing interest at 16% per annum, collateralized by a deed of trust on the real estate property purchased with the loan. The maturity date was extended to November 27, 2016 subsequent to June 30, 2016. Refer to Note 11(f).	180,000	180,000
Promissory note payable on July 8, 2016, bearing interest at 18% per annum initially and at 12% per annum after four months, collateralized by a deed of trust on the real estate property purchased with the loan. The maturity date was extended to July 7, 2017 subsequent to June 30, 2016.  Refer to Note 11(b).	80,000	80,000
Promissory note payable on October 1, 2016, bearing interest at 16% per annum, collateralized by a deed of trust on the real estate properties titled to ARP.	300,000	—
Promissory note payable on April 1, 2021, bearing interest at 10% per annum, collateralized by a deed of trust on the real estate properties purchased with the loan.	314,831	—
Mortgage payable on October 1, 2053, bearing interest at 2% per annum, collateralized by a deed of trust on the real estate properties purchased with the loan.	247,671	—
Promissory note payable on May 1, 2021, bearing interest at 6.07% per annum, collateralized by the real estate properties titled to AHIT Valfre, LLP and ARP Borrower, LLC.	1,202,621	—

Mortgage payable on April 1, 2018, bearing interest at 5% per annum, collateralized by a deed of trust on the real estate properties purchased with the loan.  The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	18,861
Mortgage payable on July 1, 2029, bearing interest at 4.125% per annum, collateralized by a deed of trust on the real estate properties purchased with the loan. The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	91,943

Home Equity Line-of-credit, bearing interest at a variable interest rate, collateralized by a deed of trust on the real estate properties purchased with the loan. The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	46,108
Mortgage payable on October 1, 2035, bearing interest at a variable rate, collateralized by a deed of trust on the real estate properties purchased with the loan. The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	140,512
Mortgage payable on June 1, 2043, bearing interest at 4.125% per annum, collateralized by a deed of trust on the real estate properties purchased with the loan. The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	113,036
Mortgage payable on July 1, 2041, bearing interest at 5.25% per annum, collateralized by a deed of trust on the real estate properties purchased with the loan. The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	274,905
Home Equity Line-of-credit, bearing interest at 8.25% per annum, collateralized by a deed of trust on the real estate properties purchased with the loan. The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	34,484
Mortgage payable on June 1, 2043, bearing interest at 4.125% per annum, collateralized by a deed of trust on the real estate properties purchased with the loan. The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	132,362
Mortgage payable on December 1, 2034, bearing interest at a variable rate, collateralized by a deed of trust on the real estate properties purchased with the loan. The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	111,168
Mortgage payable on January 1, 2022, bearing interest at 4.375% per annum, collateralized by a deed of trust on the real estate properties purchased with the loan.  The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	16,683
Mortgage payable on September 1, 2033, bearing interest at a variable rate, collateralized by a deed of trust on the real estate properties purchased with the loan.  The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	76,336
Home Equity Line-of-credit payable on January 13, 2040, bearing interest at 2.76% per annum, collateralized by a deed of trust on the real estate properties purchased with the loan.  The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	50,215
Mortgage payable on November 1, 2026, bearing interest at 4.5% per annum, collateralized by a deed of trust on the real estate properties purchased with the loan.  The note was refinanced on April 18, 2016.  Refer to disclosure below.	—	82,526
	5,126,657	4,271,665

On April 18, 2016, AHIT-Valfre closed financing with FirstKey Mortgage, LLC and entered into a balloon note for approximately $1,203,000, bearing interest at 6.07% per annum and due on May 1,2012. The note is collateralized by the real estate properties titled to AHIT Valfre. The proceeds from the balloon note were used to pay off mortgages previously assumed by AHIT-Valfre on August 3, 2015.

The following table schedules the principal payments on the notes payable for the next five years and thereafter as of June 30, 2016:

Year		Amount
2016	$	589,736
2017		62,892
2018		66,253
2019		1,620,580
2020		948,641
thereafter		1,838,555
Total	$	5,126,657