PROFORMA
Prepared for Buyer:			INVESTOR
		Home:	Average 6 Bedroom, oceanside
	Date:	December '04
	Based on actual inventory in various areas				Sale Price	$739,000.00
					Intial Investment	$147,800.00
				80%	Finance	$591,200.00
30	Year @	6.00%	Interest 1 Year A.R.M.			***See Below***
a)	Monthly Payment		$3,544.54	X	12	$42,534.51
b)	Taxes	($.66 per $100.00 of assessed value)				$2,500.00
c)	Insurance (Home & Flood)					$3,000.00
d)	Electricity					$500.00
e)	Water /Sewer					$500.00
f)	Cable					$500.00
g)	Phone					$400.00
h)	Property Owners Dues		(THIS VARIES)			$200.00
i) Pool/ Hot tub Maint.						$1,800.00
		Total 12 Month Expenses				$51,934.51
Prime		$3,695.00	@	8	Weeks	$29,560.00
2nd Prime		$3,195.00	@	4	Weeks	$12,780.00
Pre/post		$1,695.00	@	4	Weeks	$6,780.00
Off Season		$995.00	@	3	Weeks	$2,985.00
		Total Gross Rental Income				$52,105.00
		Management Fee		19	Percent	$9,899.95
		Net Rental income				$42,205.05
Annual Income		$42,205.05	divided by 12 = monthly income			$3,517.09
Annual Expense		$51,934.51	divided by 12 = monthly expense			$4,327.88
				Monthly Cash Flow		($810.79)
*** An INTEREST ONLY loan @ 4.5% will bring the yearly payments to
$26,874.00 and a positive cash flow on this example.
THIS IS FOR EXAMPLE ONLY and BASED ON ACTUAL DATA.
CONTACT ME TO APPLY THIS SPREADSHEET TO A SPECIFIC AVAILABLE
PROPERTY.