**EXHIBIT 31**
**RULE 13a-14(a)/15d-14(a) CERTIFICATIONS**
     I, Ken L. Joines, certify that:
     1. I have reviewed this annual report on Form 10-K of First Equity Properties, Inc.;
     2. Based on my knowledge, this report does not contain any untrue statement of a material factor omit to state a material fact necessary to make the statements made, in light of thecircumstances under which such statements were made, not misleading with respect to the periodcovered by this annual report;
     3. Based on my knowledge, the financial statements, and other financial information includedin this annual report, fairly present in all material respects the financial condition, results ofoperations and cash flows of the registrant as of, and for, the periods presented in this annualreport;
     4. The registrant’s other certifying officer(s) and I are responsible for establishingand maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13-15(e) and15d-15e) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f)and 15d-15(f) for the registrant and have:
     (a) Designed such disclosure controls and procedures, or used such disclosurecontrols and procedures to be designed under our supervision, to ensure thatmaterial information relating to the registrant, including its consolidatedsubsidiaries, is made known to us by others within those entities, particularlyduring the period in which this annual report is being prepared;
     (b) Designed such internal control over financial reporting, or caused suchinternal control over financial reporting to be designed under our supervision, toprovide reasonable assurance regarding the reliability of financial reporting andthe preparation of financial statements for external purposes in accordance withgenerally accepted accounting principals;
     (c) Evaluated the effectiveness of the registrant’s disclosure controlsand procedures and presented in this report our conclusions about the effectivenessof the controls and procedures as of the end of the period covered by this reportbased on such evaluation; and
     (d) Disclosed in this report any change in the registrant’s internalcontrol over financial reporting that occurred during the registrant’s mostrecent fiscal quarter that has materially affected, or is reasonably likely tomaterially affect, the registrant’s internal control over financial reporting.
 

 

     5. The registrant’s other certifying officer(s) and I have disclosed, based on our mostrecent evaluation of internal control over financial reporting, to the registrant’s auditorsand the audit committee of registrant’s board of directors (or persons performing theequivalent functions):
(a) All significant deficiencies and material weaknesses in the design oroperation of internal control over financial reporting which are reasonably likelyto adversely affect the registrant’s ability to record, process, summarize andreport financial information; and
(b) Any fraud, whether or not material, that involves management or otheremployees who have a significant role in the registrant’s internal controls.
     Dated: March 29, 2005.      Ken L. Joines, Vice President and Treasurer (Acting Principal Executive Officer and Chief Financial and Accounting Officer)