EXHIBIT 31.1CERTIFICATIONI, Ken L. Joines, Vice President, Treasurer and Acting Principal Executive Officer and ChiefFinancial and Accounting Officer of First Equity Properties, Inc. (“FEPI”), certify that:1. I have reviewed this quarterly report on Form 10-Q of FEPI; 2. Based on my knowledge, this quarterly report does not contain any untrue statement of amaterial fact or omit to state a material fact necessary to make the statements made, in lightof the circumstances under which such statements were made, not misleading with respect to theperiod covered by this quarterly report; 3. Based on my knowledge, the financial statements, and other financial information included inthis quarterly report, fairly present in all material respects the financial condition,results of operations and cash flows of the registrant as of, and for, the periods presentedin this quarterly report; 4. I am responsible for establishing and maintaining internal controls and procedures (asdefined in Exchange Act Rules 13a-15(e)) and internal control over financial reporting (asdefined in Exchange Act Rules 13(a)-15(f) and 15d-15(f) for FEPI and have: (a) Designed such disclosure controls and procedures or caused such disclosure controls andprocedures to be designed under our supervision, to insure that material informationrelating to FEPI and its consolidated subsidiaries is made known to me by others withinthose entities, particularly for the periods presented in this quarterly report;  (b) Designed such internal controls over financial reporting, or caused such internalcontrol over financial reporting to be designed under our supervision, to providereasonable assurance regarding the reliability of financial reporting and the preparationof financial statements for external purposes in accordance with generally acceptedaccounting principles;  (c) Evaluated the effectiveness of FEPI’s disclosure controls and procedures and presentedin this report our conclusions about the effectiveness of the disclosure controls andprocedures, as of the end of the period covered by this report based on such evaluation;and  (d) Disclosed in the report any change in FEPI’s internal control over financial reportingthat occurred during FEPI’s most recent fiscal quarter (the registrant’s fourth fiscalquarter in the case of an annual report) that has materially affected, or is reasonablylikely to materially affect FEPI’s internal control over financial reporting; and5. I have disclosed, based on our most recent evaluation of internal control over financialreporting, to FEPI’s auditors and the audit committee of FEPI’s Board of Directors (or personsperforming the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation ofinternal control over financial reporting which are reasonably likely to adversely affectFEPI’s ability to record, process, summarize and report financial information; and  (b) Any fraud, whether or not material, that involves management or other employees whohave a significant role in FEPI’s internal controls.     Date: May 15, 2006           /s/ Ken L. Joines         Ken L. Joines, Vice President, Treasurer and Acting Principal    Executive Officer and Chief Financial and Accounting Officer  
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