Single Family Residence Investment Pro-forma
	Purchase Price				170,000.00
	Down Payment			10%	17,000.00
	Loan				153,000.00
Cash In
	Down Payment			10%	17,000.00
	Closing Costs			0.5%	765.00			$4,000 credit for closing costs from seller
	Prop mgnt				0.00
	Repairs/upgrades				200.00			cleaning
	Admin Fee				2,400.00		***	$ 2,400 admin fee
	Reserve			0.0%	2,500.00
	Total Cash				22,865.00
Income
	Monthly Rent				1,250.00
	Vacancy			0.0%	0.00
	Effective Mo. Rent				1,250.00
Expenses		L-T-V %	Loan Amt.	Int. Rate
	1st Int. only	90%	$   153,000	6.38%	812.81		***
	2nd arm		$              -		0.00
	Taxes			2.90%	410.83
	Insurance			0.050%	85.00
	HOA				30.00
	Management				100.00
	Repairs				0.00		***	Please note:  All mumbers presented on this pro-forma
	Total Expenses				1,438.65				are only an estimate.  Shea Realty recommends
									that you have your financial advisor, CPA or other
Cash Flow									consultants review these for accuracy
	Monthly +/(-)				(188.65)
	Tax Saving Depreciation.				311.67		S.P. x 60% =  / 27.5  = /12 =  Savings / mo. PRE-TAX BRACKET
	Tax Saving Neg Cash Flow				75.46					___________      _______________
	Net Cash Flow per Month				198.48
	Months Held			48	9,527.00
									Date     __________________________
Return on Investment			(Estimated)
	Original Cost				170,000.00
	Appreciation			6.0%	45,983.16
	Sale Price				215,983.16
	Costs of Sale			6.0%	12,958.99
	Net Sale Price				203,024.17
	Loan Pay Off			Less	153,000.00
	Cash Out				50,024.17
	Net Cash Flow				9,527.00
	Prop Mgmt Bonus				0.00
	Total Cash Back				59,551.17
	Cash In				22,865.00
	Total ROI				160%