<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Investors
First-Staged Equity L.P. 1995 Third Quarter 10-QSB and is qualified in its
entirety by reference to such 10-QSB.
</LEGEND>
<CIK> 0000768834
<NAME> INVESTORS FIRST-STAGED EQUITY L.P.
<MULTIPLIER> 1
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               SEP-30-1995
<CASH>                                       2,511,993
<SECURITIES>                                         0
<RECEIVABLES>                                   84,653
<ALLOWANCES>                                   130,310
<INVENTORY>                                          0
<CURRENT-ASSETS>                             4,089,062
<PP&E>                                      55,309,709
<DEPRECIATION>                            (23,596,770)
<TOTAL-ASSETS>                              35,970,753
<CURRENT-LIABILITIES>                        1,534,504
<BONDS>                                     52,048,155
<COMMON>                                             0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                (19,144,048)
<TOTAL-LIABILITY-AND-EQUITY>                35,970,753
<SALES>                                              0
<TOTAL-REVENUES>                             5,970,859
<CGS>                                                0
<TOTAL-COSTS>                                7,261,144
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           3,125,180
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (1,548,226)
<EPS-PRIMARY>                                  (94.22)
<EPS-DILUTED>                                        0