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                                                                    EXHIBIT 31.1

             CERTIFICATION PURSUANT TO RULES 13a-14 AND 15d-14 UNDER
           THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002


I, Ronald E. Kimbrough, Acting Principal Executive Officer and Chief Financial
Officer of First Equity Properties, Inc. ("the Company"), certify that:

1.   I have reviewed this quarterly report on Form 10-Q of the Company;

2.   Based on my knowledge, this quarterly report does not contain any untrue
          statement of a material fact or omit to state a material fact
          necessary to make the statements made, in light of the circumstances
          under which such statements were made, not misleading with respect to
          the period covered by this quarterly report;

3.   Based on my knowledge, the financial statements, and other financial
          information included in this 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 presented in
          this quarterly report;

4.   I am responsible for establishing and maintaining disclosure controls and
          procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))
          and internal control over financial reporting (as defined in Exchange
          Act Rules 13a-15(f) and 15d-15(f)) for the Company and have:

     a.   designed such disclosure controls and procedures, or caused such
          disclosure controls and procedures to be designed under my
          supervision, to ensure that material information relating to the
          company and its consolidated subsidiaries is made known to me by
          others within those entities, particularly for the periods presented
          in this quarterly report;

     b.   designed such internal control over financial reporting, or caused
          such internal control over financial reporting to be designed under my
          supervision, to provide reasonable assurance regarding the reliability
          of financial reporting and the preparation of financial statements for
          external purposes in accordance with generally accepted accounting
          principles.

     c.   evaluated the effectiveness of the Company's disclosure controls and
          procedures and presented in this report my conclusions about the
          effectiveness of the disclosure controls and procedures, as of the end
          of the period covered by this report based on such evaluation; and

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             CERTIFICATION PURSUANT TO RULES 13a-14 AND 15d-14 UNDER
           THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO
            SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - CONTINUED


     d.   disclosed in this report any change in the Company's internal control
          over financial reporting that occurred during the Company's most
          recent fiscal quarter that has materially affected, or is reasonably
          likely to materially affect, the Company's internal control over
          financial reporting; and


5.   I have disclosed based on my most recent evaluation of internal control
          over financial reporting, to the Company's auditors and Audit
          Committee of the Board of Directors (or persons fulfilling the
          equivalent function):

     a.   all significant deficiencies and material weaknesses in the design or
          operation of internal control over financial reporting which are
          reasonably likely to adversely affect the Company's ability to record,
          process, summarize, and report financial data; and

     b.   any fraud, whether or not material, that involves management or other
          employees who have a significant role in the Company's internal
          control over financial reporting.


     /s/ Ronald E. Kimbrough


     Ronald E. Kimbrough
     Acting Principal Executive Officer and Chief Financial Officer
     August 14, 2003