INVESTMENT IN REAL ESTATE, NET (Tables)

6 Months Ended

Dec. 31, 2012

Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule of Real Estate Properties [Table Text Block]

The Company owns and operates a 27-unit and 2-unit multi-family apartment complex located in Los Angeles, California and owns land held for development located in Maui, Hawaii. Investment in real estate consisted of the following:

As of	December 31, 2012			June 30, 2012
Land	$	2,430,000		$	2,430,000
Buildings, improvements and equipment		2,580,000			2,580,000
Accumulated depreciation		(909,000	)		(878,000	)
		4,101,000			4,132,000
Land held for development		973,000			973,000
Investment in real estate, net	$	5,074,000		$	5,105,000