Exhibit (a)(3)


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August 22, 2005


TO:   UNIT HOLDERS OF SECURED INCOME, L.P.

SUBJECT: OFFER TO PURCHASE UNITS

Dear Unit Holder:

As  described  in  the  enclosed  Offer  to  Purchase  and  related  Letters  of
Transmittal   (the  "Offer")  the   Purchasers   named  in  the  attached  Offer
(collectively  the  "Purchasers") are offering to purchase up to 85,000 Units of
limited  partnership  interest  (the  "Units")  in  SECURED  INCOME,  L.P.  (the
"Partnership") at a purchase price equal to:

                                  $34 per Unit

The Offer will provide you with an  opportunity  to liquidate  all, or a portion
of, your investment in SECURED INCOME,  L.P. without the usual transaction costs
associated with market sales or partnership transfer fees.

After  carefully  reading the enclosed Offer, if you elect to tender your Units,
mail (using the enclosed  pre-addressed,  postage  paid  envelope) or fax a duly
completed  and  executed  copy of the Letter of  Transmittal  (printed  on green
paper) and change of address  forms,  and any other  documents  required  by the
Letter of Transmittal, to the Depositary for the Offer at:

                        MacKenzie Patterson Fuller, Inc.
                               1640 School Street
                            Moraga, California 94556
                            Facsimile: (925) 631-9119


If you have any questions or need assistance, please call the Depository at
800-854-8357.

This Offer expires (unless extended) September 21, 2005.


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