Direct Investment (FEPI) 10-K 31 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 31, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	FIRST EQUITY PROPERTIES INC
Entity Trading Symbol	FEPI
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Entity Central Index Key	726516
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		1,057,628
Entity Public Float			$0
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current Assets
Receivables and accrued interest - related parties	$2,172,752	$2,694,033
Cash and cash equivalents	1,776	346
Total assets	2,174,528	2,694,379
Current Liabilities
Notes payable and accrued interest - related parties	877,850	1,493,010
Accounts payable - other	3,177	3,015
Accounts payable - related parties	417,555	318,822
Total liabilities	1,298,582	1,814,847
Shareholders' equity
Common stock, $0.01 par value; 40,000,000 shares authorized; 1,057,628 issued and outstanding	10,576	10,576
Preferred stock, $0.01 par value; 4,960,000 shares authorized; none issued or outstanding	0	0
Paid in capital	1,376,682	1,376,682
Retained earnings (deficit)	-511,312	-507,726
Total shareholders' equity	875,946	879,532
Total liabilities and shareholders' equity	$2,174,528	$2,694,379

CONSOLIDATED_BALANCE_SHEETS_PA

CONSOLIDATED BALANCE SHEETS PARENTHETICALS (USD $)	Dec. 31, 2014	Dec. 31, 2013
Parentheticals
Common Stock, par value	$0.01	$0.01
Common Stock, shares authorized	40,000,000	40,000,000
Common Stock, shares issued	1,057,628	1,057,628
Common Stock, shares outstanding	1,057,628	1,057,628
Preferred Stock, par value	$0.01	$0.01
Preferred Stock, shares authorized	4,960,000	4,960,000

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenue
Interest income - from related parties	$218,524	$240,754	$241,514
Total income	218,524	240,754	241,514
Operating Expenses
General and administrative - related parties	60,000	52,500	30,000
General and administrative	14,356	18,788	37,534
Legal and professional fees	38,263	35,989	39,948
Total operating expenses	112,619	107,277	107,482
Income (loss) before interest expense and taxes	105,905	133,477	134,032
Other income (expense)
Gain on sale - related parties	0	0	259,071
Interest expense - related parties	-109,491	-122,870	-135,129
Interest expense	0	0	-35,349
Income (loss) before income taxes	-3,586	10,607	222,625
Income tax (expense) benefit	0	0	0
Net income (loss) applicable to common shareholders	($3,586)	$10,607	$222,625
Earnings (loss) per share	$0	$0.01	$0.21
Weighted average shares outstanding	1,057,628	1,057,628	1,057,628

CONSOLIDATED_STATEMENTS_OF_CHA

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)	Common Stock Shares	Common Stock Amount	Paid-in-Capital	Retained Earnings	Total Equity
		USD ($)	USD ($)	USD ($)	USD ($)
Balance at Jan. 01, 2012	1,057,628	10,576	1,376,682	-740,958	646,300
Net income (loss)		$0	$0	$222,625	$222,625
Balance at Dec. 31, 2012	1,057,628	10,576	1,376,682	-518,333	868,925
Net income (loss)		0	0	10,607	10,607
Balance at Dec. 31, 2013	1,057,628	10,576	1,376,682	-507,726	879,532
Net income (loss)		$0	$0	($3,586)	($3,586)
Balance at Dec. 31, 2014	1,057,628	10,576	1,376,682	-511,312	875,946

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash Flows from Operating Activities
Net Income (Loss)	($3,586)	$10,604	$222,625
Adjustments to reconcile net income applicable to common shareholders to net cash provided by (used in) operating activities
Gain on sale	0	0	-259,071
(Increase) decrease in
Amortization	0	0	7,372
Interest receivable - related parties	187,102	241,413	-241,413
Increase (decrease) in
Accounts payable - other	162	-18,912	-35,000
Accounts payable - affiliates	98,733	-105,794	130,203
Intercompany and interest payable - related parties	-101,160	-11,829	70,428
Federal income taxes payable	0	0	0
Net cash provided by (used for) operating activities	181,251	115,485	-104,856
Cash Flows from Investing Activities
Notes receivable - related parties	334,179	165,787	105,890
Net cash provided by (used for) investing activities	334,179	165,787	105,890
Cash Flows from Financing Activities
Notes payable - related parties	-514,000	-282,468	0
Net cash provided by (used for) financing activities	-514,000	-282,468	0
Net increase (decrease) in cash and cash equivalents	1,430	-1,196	1,034
Cash and cash equivalents at the beginning of period	346	1,542	508
Cash and cash equivalents at the end of period	1,776	346	1,542
Supplemental disclosures of cash flow information:
Cash paid for interest expense to related parties	210,650	0	40,950
Cash received for interest on notes receivable	405,625	482,168	0
Non - cash items:
Change in Investment in RE from land sales	0	0	5,576,494
Debt assumed by purchaser	$0	$0	($4,120,300)

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Nature of Operations
	From 2010 through April 2012, the Company engaged in the business of investing in real estate and purchased land held for investment or sale.
	Our current source of revenue consists of interest on notes receivables from related party entities. Any adverse conditions that could affect the financial condition of these entities, and specifically their ability to service debt obligation owed, could have a material effect on the financial statements.
	Organization and Business
	First Equity Properties, Inc. is a Nevada based corporation organized in December 19, 1996 and the Company is headquartered in Dallas, TX. The Company’s principal line of business and source of revenue is currently investments and interest on notes receivable.  The Company is currently in the business of real estate investing.  FEPI is a publicly traded company however, no trading marked presently exists for the shares of common stock and its value is therefore not determinable.
	Basis of Presentation
	The accompanying Consolidated Financial Statements include our accounts, and our subsidiary, which is wholly-owned. All significant intercompany balances and transactions have been eliminated in consolidation. On April 1, 2012 the Company sold Kelly Lot Development, Inc. to Tacco Financial, Inc. (“TFI”), a related party.
	Cash Equivalents
	For purposes of the statement of cash flows, the Company considers all short-term investments with original maturities of three months or less to be cash equivalents.
	Accounting Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
	Income Taxes
	The Company accounts for income taxes in accordance with Accounting Standards Codification, (“ASC”) No. 740, “Accounting for Income Taxes”. ASC 740 requires an asset and liability approach to financial accounting for income taxes. In the event differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities result in deferred tax assets, ASC 740 requires an evaluation of the probability of being able to realize the future benefits indicated by such assets. A valuation allowance is provided for a portion or all of the deferred tax assets when there is an uncertainty regarding the Company’s ability to recognize the benefits of the assets in future years.  Recognition of the benefits of deferred tax assets will require the Company to generate future taxable income.  There is no assurance that the Company will generate earnings in future years.  Since management could not determine the likelihood that the benefit of the deferred tax asset would be realized no deferred tax asset was recognized by the Company.
	Earnings (loss) per Share
	Earnings (loss) per share (EPS) are calculated in accordance with Accounting Standards Codification, (“ASC”) No. 260, Earnings per Share (ASC 260), which was adopted in 1997 for all years presented. Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS does not apply to the Company due to the absence of dilutive potential common shares. The adoption of ASC 260 had no effect on previously reported EPS.
	FASB Accounting Standards Codification
	The company presents its financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). In June 2009, the Financial Accounting Standards Board (“FASB”) completed its accounting guidance codification project. The FASB Accounting Standards Codification (“ASC”) became effective for the Company’s financial statements issued subsequent to June 30, 2009 and is the single source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP. As of the effective date, the company will no longer refer to the authoritative guidance dictating its accounting methodologies under the previous accounting standards hierarchy. Instead, the Company will refer to the ASC Codification as the sole source of authoritative literature.

NOTES_RECEIVABLE_AND_ACCRUED_I

NOTES RECEIVABLE AND ACCRUED INTEREST - RELATED PARTIES	12 Months Ended
	Dec. 31, 2014
NOTES RECEIVABLE AND ACCRUED INTEREST - RELATED PARTIES
NOTES RECEIVABLE AND ACCRUED INTEREST - RELATED PARTIES	NOTE B -NOTES RECIEVABLE AND ACCRUED INTEREST – RELATED PARTIES
	Receivables from related parties primarily consist of two notes of $1,613,291 and $505,808 which are payable in quarterly installments of interest only. The notes accrue interest at 10% per annum.  The maturity date of these notes has been extended to December 31, 2015.
		2014		2013
	Notes receivable – related parties
	Unsecured, due on demand, interest rate of 10%, due monthly	$	2,119,099	$	2,407,540
	Accrued interest – related parties		53,653		240,754
	Accounts receivable – related parties		-		45,739
	Total notes and accounts receivable – related parties	$	2,172,752	$	2,694,033
	A subsequent payment for principal and interest on notes receivable was received in March 2015 for $72,752.12 which makes the notes and interest receivable balances current.

LAND

LAND	12 Months Ended
	Dec. 31, 2014
LAND
LAND	NOTE C - LAND
	On December 31, 2010 the Company owned various parcels of undeveloped land which consist of approximately 7.53 acres of Kelly Lots Land located in Farmers Branch, TX, approximately 6.916 acres of Vineyard Land located in Grapevine, TX and approximately 5.618 acres and 6.25 acres of Nashville Land located in Nashville, TN all purchased from a related party.  On April 1, 2011 the Company purchased approximately 3.028 acres of Seminary West Land located in Fort Worth, Texas and 6.796 acres of Travis Ranch Land located in Kaufman County, Texas from a related party.  On November 30, 2011 the Company purchased approximately 23.237 acres known as Cooks Lane located in Fort Worth, TX from a related party.  On April 1, 2012 the Company sold Kelly Lot Development, Inc., which held all of the Company’s investments in real estate, including all debt associated with the land to Tacco Financial, Inc. (“TFI”), a related party and realized a $259,071 gain on sale.

NOTES_PAYABLE_AND_ACCRUED_INTE

NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES	12 Months Ended
	Dec. 31, 2014
NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES
NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES	NOTE D -NOTES PAYABLE AND ACCRUED INTEREST – RELATED PARTIES
		2014		2013
	Uncollateralized notes payable – related parties
	due on demand, interest rate of 10%, payable quarterly	$	856,140	$	1,370,140
	Accrued interest and intercompany – related parties		21,710		122,870
	Total notes payable – related parties	$	877,850	$	1,493,010
		Payments due by period
		Total		2014		2015		2016		2017		2018		Thereafter
	Long term debt	$	877,850	$	21,710	$	856,140	$	-	$	-	$	-	$	-
		$	877,850	$	21,710	$	856,140	$	-	$	-	$	-	$	-

INCOME_TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2014
INCOME TAXES
INCOME TAXES	NOTE E -INCOME TAXES
	Deferred income taxes reflect the tax effects of temporary timing differences between carrying amounts of assets and liabilities reflected on the financial statements and the amounts used for income tax purposes. The tax effects of temporary differences and net operating loss carry forwards that give rise to the deferred tax assets.  The Company had ($12,882) in NOL carry forward from 2012 that it utilized in 2013.
	Recognition of the benefits of deferred tax assets will require the Company to generate future taxable income. There is no assurance that the Company will generate earnings in future years.
	The following table presents the principal reasons for the differences between the Company’s effective tax rate and the United States statutory income tax rate.
		2014			2013			2012
	Federal income tax at statutory rate per books	$	(538	)	$	10,607		$	70,073
	Change in valuation allowance		538			-			-
	Net operating loss		-			(10,607	)		(70,073	)
	Federal income tax per tax return	$	-		$	-		$	-
	Effective income tax rate		0	%		0	%		0	%
	The Company’s Forms 1120, U.S. Corporation Income Tax Returns, for the years ending December 31, 2014, 2013, and 2012 are subject to examination, by the IRS, generally for three years after they are filed.

FINANCIAL_INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2014
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS	NOTE F -FINANCIAL INSTRUMENTS
	The carrying values of cash and cash equivalents, accounts receivable related parties, notes receivable related parties and accounts payable related parties approximate fair value due to short-term maturities of these assets and liabilities.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2014
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE G -COMMITMENTS AND CONTINGENCIES
	The Company is not involved in any legal proceedings. Management is not aware of any actions that could potentially have a material adverse effect on the Company’s financial position.

COMPREHENSIVE_INCOME

COMPREHENSIVE INCOME	12 Months Ended
	Dec. 31, 2014
COMPREHENSIVE INCOME:
COMPREHENSIVE INCOME	NOTE H -COMPREHENSIVE INCOME
	Accounting Standards Codification, (“ASC”) No. 220, Reporting Comprehensive Income, (ASC 220), requires that total comprehensive income be reported in the financial statements. For the years ended December 31, 2014, 2013, and 2012, the Company’s comprehensive income was equal to its net income and the Company does not have income meeting the definition of other comprehensive income.

QUARTERLY_DATA_UNAUDITED

QUARTERLY DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2014
QUARTERLY DATA (UNAUDITED)
QUARTERLY DATA (UNAUDITED)	NOTE I -QUARTERLY DATA (UNAUDITED)
	The table below reflects the Company’s selected quarterly information for the years ended December 31, 2014 and 2013.
		Year ended December 31, 2014
		First			Second			Third			Fourth
		Quarter			Quarter			Quarter			Quarter
	Revenue	$	57,162		$	53,560		$	54,149		$	53,653
	Operating expenses		26,215			32,334			31,086			22,984
	Net income from continuing operations before taxes		30,947			21,226			23,063			30,669
	Interest expense		33,784			26,356			26,621			22,730
	Income tax expense		-			-			-			-
	Net income applicable to common shareholders	$	(2,837	)	$	(5,130	)	$	(3,558	)	$	7,939
	Earnings per share
	Weighted average earnings per share applicable to	$	-		$	-		$	-		$	0.01
	common shares
		Year ended December 31, 2013
		First			Second			Third			Fourth
		Quarter			Quarter			Quarter			Quarter
	Revenue	$	59,364		$	60,024		$	60,683		$	60,683
	Operating expenses		12,169			51,858			20,821			22,428
	Net income from continuing operations before taxes		47,195			8,166			39,862			38,255
	Interest expense		17,318			36,481			34,535			34,536
	Income tax expense		3,029			(3,029	)		-			-
	Net income applicable to common shareholders	$	26,848		$	(25,286	)	$	5,327		$	3,719
	Earnings per share
	Weighted average earnings per share applicable to	$	0.03		$	(0.02	)	$	0.01		$	-
	common shares

RELATED_PARTIES_TRANSACTIONS

RELATED PARTIES TRANSACTIONS	12 Months Ended
	Dec. 31, 2014
RELATED PARTIES TRANSACTIONS
RELATED PARTIES TRANSACTIONS	NOTE J -RELATED PARTIES TRANSACTIONS
	The Company has historically engaged in and may continue to engage in certain business transactions with related parties, including but not limited to asset acquisition, dispositions, interest income, interest expense and general and administrative expenses.  Transactions involving related parties cannot be presumed to be carried out on an arm’s length basis due to the absence of free market forces that naturally exist in business dealings between two or more unrelated entities.  Related party transactions may not always be favorable to our business and may include terms, conditions and agreements that are not necessarily beneficial to or in best interest of our company.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2014
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE K –SUBSEQUENT EVENTS
	The Company has evaluated subsequent events through March 31, 2015, the date the financial statements were available to be issued, and has determined that there has been a subsequent payment received in March 2015 for principal and interest on notes receivable.

ACCOUNTING_POLICIES_POLICIES

ACCOUNTING POLICIES (POLICIES)	12 Months Ended
	Dec. 31, 2014
Accounting Policies
Nature of Operations	Nature of Operations
	From 2010 through April 2012, the Company engaged in the business of investing in real estate and purchased land held for investment or sale.
	Our current source of revenue consists of interest on notes receivables from related party entities. Any adverse conditions that could affect the financial condition of these entities, and specifically their ability to service debt obligation owed, could have a material effect on the financial statements.
Organization and Business
	Organization and Business
	First Equity Properties, Inc. is a Nevada based corporation organized in December 19, 1996 and the Company is headquartered in Dallas, TX. The Company’s principal line of business and source of revenue is currently investments and interest on notes receivable.  The Company is currently in the business of real estate investing.  FEPI is a publicly traded company however, no trading marked presently exists for the shares of common stock and its value is therefore not determinable.
Basis of presentation	Basis of Presentation
	The accompanying Consolidated Financial Statements include our accounts, and our subsidiary, which is wholly-owned. All significant intercompany balances and transactions have been eliminated in consolidation. On April 1, 2012 the Company sold Kelly Lot Development, Inc. to Tacco Financial, Inc. (“TFI”), a related party.
Cash Equivalents	Cash Equivalents
	For purposes of the statement of cash flows, the Company considers all short-term investments with original maturities of three months or less to be cash equivalents.
Accounting Estimates	Accounting Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Income Taxes	Income Taxes
	The Company accounts for income taxes in accordance with Accounting Standards Codification, (“ASC”) No. 740, “Accounting for Income Taxes”. ASC 740 requires an asset and liability approach to financial accounting for income taxes. In the event differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities result in deferred tax assets, ASC 740 requires an evaluation of the probability of being able to realize the future benefits indicated by such assets. A valuation allowance is provided for a portion or all of the deferred tax assets when there is an uncertainty regarding the Company’s ability to recognize the benefits of the assets in future years.  Recognition of the benefits of deferred tax assets will require the Company to generate future taxable income.  There is no assurance that the Company will generate earnings in future years.  Since management could not determine the likelihood that the benefit of the deferred tax asset would be realized no deferred tax asset was recognized by the Company.
Earnings (loss) per Share	Earnings (loss) per Share
	Earnings (loss) per share (EPS) are calculated in accordance with Accounting Standards Codification, (“ASC”) No. 260, Earnings per Share (ASC 260), which was adopted in 1997 for all years presented. Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS does not apply to the Company due to the absence of dilutive potential common shares. The adoption of ASC 260 had no effect on previously reported EPS.
FASB Accounting Standards Codification
	FASB Accounting Standards Codification
	The company presents its financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). In June 2009, the Financial Accounting Standards Board (“FASB”) completed its accounting guidance codification project. The FASB Accounting Standards Codification (“ASC”) became effective for the Company’s financial statements issued subsequent to June 30, 2009 and is the single source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP. As of the effective date, the company will no longer refer to the authoritative guidance dictating its accounting methodologies under the previous accounting standards hierarchy. Instead, the Company will refer to the ASC Codification as the sole source of authoritative literature.

NOTES_RECIEVABLE_AND_ACCRUED_I

NOTES RECIEVABLE AND ACCRUED INTEREST - RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2014
NOTES RECIEVABLE AND ACCRUED INTEREST - RELATED PARTIES
NOTES RECEIVABLE AND ACCRUED INTEREST - RELATED PARTIES	Receivables from related parties primarily consist of two notes of $1,613,291 and $505,808 which are payable in quarterly installments of interest only. The notes accrue interest at 10% per annum.  The maturity date of these notes has been extended to December 31, 2015.
		2014		2013
	Notes receivable – related parties
	Unsecured, due on demand, interest rate of 10%, due monthly	$	2,119,099	$	2,407,540
	Accrued interest – related parties		53,653		240,754
	Accounts receivable – related parties		-		45,739
	Total notes and accounts receivable – related parties	$	2,172,752	$	2,694,033

NOTES_PAYABLE_AND_ACCRUED_INTE1

NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2014
NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES {2}
NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES
		2014		2013
	Uncollateralized notes payable – related parties
	due on demand, interest rate of 10%, payable quarterly	$	856,140	$	1,370,140
	Accrued interest and intercompany – related parties		21,710		122,870
	Total notes payable – related parties	$	877,850	$	1,493,010
		Payments due by period
		Total		2014		2015		2016		2017		2018		Thereafter
	Long term debt	$	877,850	$	21,710	$	856,140	$	-	$	-	$	-	$	-
		$	877,850	$	21,710	$	856,140	$	-	$	-	$	-	$	-

INCOME_TAXES_Tables

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2014
INCOME TAXES {2}
Schedule of Effective Income Tax Rate Reconciliation	The following table presents the principal reasons for the differences between the Company’s effective tax rate and the United States statutory income tax rate.
		2014			2013			2012
	Federal income tax at statutory rate per books	$	(538	)	$	10,607		$	70,073
	Change in valuation allowance		538			-			-
	Net operating loss		-			(10,607	)		(70,073	)
	Federal income tax per tax return	$	-		$	-		$	-
	Effective income tax rate		0	%		0	%		0	%

QUARTERLY_DATA_Tables

QUARTERLY DATA (Tables)	12 Months Ended
	Dec. 31, 2014
QUARTERLY DATA (UNAUDITED) {2}
Schedule of Segment Reporting Information, by Segment	The table below reflects the Company’s selected quarterly information for the years ended December 31, 2014 and 2013.
		Year ended December 31, 2014
		First			Second			Third			Fourth
		Quarter			Quarter			Quarter			Quarter
	Revenue	$	57,162		$	53,560		$	54,149		$	53,653
	Operating expenses		26,215			32,334			31,086			22,984
	Net income from continuing operations before taxes		30,947			21,226			23,063			30,669
	Interest expense		33,784			26,356			26,621			22,730
	Income tax expense		-			-			-			-
	Net income applicable to common shareholders	$	(2,837	)	$	(5,130	)	$	(3,558	)	$	7,939
	Earnings per share
	Weighted average earnings per share applicable to	$	-		$	-		$	-		$	0.01
	common shares
		Year ended December 31, 2013
		First			Second			Third			Fourth
		Quarter			Quarter			Quarter			Quarter
	Revenue	$	59,364		$	60,024		$	60,683		$	60,683
	Operating expenses		12,169			51,858			20,821			22,428
	Net income from continuing operations before taxes		47,195			8,166			39,862			38,255
	Interest expense		17,318			36,481			34,535			34,536
	Income tax expense		3,029			(3,029	)		-			-
	Net income applicable to common shareholders	$	26,848		$	(25,286	)	$	5,327		$	3,719
	Earnings per share
	Weighted average earnings per share applicable to	$	0.03		$	(0.02	)	$	0.01		$	-
	common shares

Notes_and_accounts_receivable_

Notes and accounts receivable - related parties (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Notes receivable - related parties {1}
Unsecured, due on demand, interest rate of 10%, due monthly	$2,119,099	$2,407,540
Accrued interest - related parties	53,653	240,754
Accounts receivable - related parties	0	45,739
Total notes and accounts receivable - related parties	$2,172,752	$2,694,033

Receivables_related_parties_De

Receivables related parties (Details) (USD $)	Dec. 31, 2014
Receivables related parties
Receivable related parties primary note 1 mature on 31/12/2015	$1,613,291
Receivable related parties primary note 2 31/12/2015	$505,808
Notes accrued interest per annum at	10.00%

LAND_DETAILS

LAND (DETAILS) (USD $)	Apr. 01, 2012	Nov. 30, 2011	Apr. 01, 2011	Dec. 31, 2010
LAND {2}
Company owned various parcels of undeveloped land in acres Kelly Lots Land located in Farmers Branch				7.53
Approximately acres of Vineyard Land located in Grapevine,				6.916
TX and approximately Nashville Land located in Nashville in acres				5.618
Nashville Land located in Nashville in acres, TN all purchased from a related party				6.25
Company purchased approximately acres of Seminary West Land located in Fort Worth,			3.028
Company purchased approximately acres of Travis Ranch Land located in Kaufman County, Texas from a related party.			6.796
Company purchased approximately acres known as Cooks Lane located in Fort Worth, TX from a related party		23.237
Company sold all debt associated with the land to Tacco Financial, Inc. a related party and realized a gain on sale.	$259,071

NOTES_PAYABLE_AND_ACCRUED_INTE2

NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES (DETAILS) (USD $)	Dec. 31, 2014	Dec. 31, 2013
NOTES PAYABLE
Uncollateralized notes payable - related parties due on demand, interest rate of 10%, payable quarterly	$856,140	$1,370,140
Accrued interest and intercompany - related parties	21,710	122,870
Total notes payable - related parties	$877,850	$1,493,010

Long_term_debt_Payments_due_by

Long term debt Payments due by period (Details) (USD $)	Dec. 31, 2014
Long term debt Payments due by period
Long term debt Payments due in 2014	$21,710
Long term debt Payments due in 2015	856,140
Long term debt Payments due in 2016	0
Long term debt Payments due in 2017	0
Long term debt Payments due Thereafter	0
Long term debt Payments due Total	$877,850

INCOME_TAXES_AT_STATUTORY_RATE

INCOME TAXES AT STATUTORY RATE (DETAILS) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
INCOME TAXES {3}
Federal income tax at statutory rate per books	($538)	$10,607	$70,073
Change in valuation allowance	538	0	0
Net operating loss	0	-10,607	-70,073
Federal income tax per tax return	$0	$0	$0
Effective income tax rate	0.00%	0.00%	0.00%

INCOME_TAXES_LOSSES_DETAILS

INCOME TAXES LOSSES (DETAILS) (USD $)	Dec. 31, 2014
INCOME TAXES {4}
NOL carry forward from 2012	$12,882

Companys_selected_quarterly_Un

Company's selected quarterly (Unaudited) information for the year 2014 (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014
Company's selected quarterly (Unaudited) information for the year 2014
Revenue Gross	$53,653	$54,149	$53,560	$57,162
Operating expenses	22,984	31,086	32,334	26,215
Net income from continuing operations before taxes	30,669	23,063	21,226	30,947
Interest expense	22,730	26,621	26,356	33,784
Income tax expense	0	0	0	0
Net income applicable to common shareholders	$7,939	($3,558)	($5,130)	($2,837)
Weighted average earnings per share applicable to common shares	$0.01	$0	$0	$0

Companys_selected_unaudited_qu

Company's selected unaudited quarterly information for the year 2013 (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013
Company's selected unaudited quarterly information for the year 2013
Gross Revenue	$60,683	$60,683	$60,024	$59,364
Operating expenses	22,428	20,821	51,858	12,169
Net income from continuing operations before taxes	38,255	39,862	8,166	47,195
Interest expense	34,536	34,535	36,481	17,318
Income tax expense	0	0	-3,029	3,029
Net income applicable to common shareholders	$3,719	$5,327	($25,286)	$26,848
Weighted average earnings per share applicable to common shares	$0	$0.01	$0.02	$0.03