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To: Jim B who wrote (13198)	9/5/1998 12:49:00 PM
From: JOE TURMAINE	Respond to of 43774

Jim, this is from a S4T, this morning. Only posting it here because PRWT has put up $2.5 million for NRPI to finance operations. (NEW ORLEANS, La.--(BUSINESS WIRE)--Aug. 14, 1998--National Rehab Properties Inc. (OTC BB:NRPI - news) Friday announced that it has received a $2.5 million loan commitment from Realty Money Center, Las Vegas, for the purchase and rehabilitation of homes.) >>NATIONAL REHAB PROPERTY (NRPI) $.40 The Company had a press release on Friday to clear up a bit of confusion on their stock buyback. The Company will buy up to 400,000 shares of the 2,200,000 share float in the open market, which is nearly 20% of the float. That indicates that the Company sees at present levels, the stock is severely undervalued. This news puts a floor of support under the stock. The Company is now in a position to greatly expand their business. The $2.5 million revolving line of credit and permanent mortgage commitment will allow NRPI to expand into Atlanta, GA and double the size of the operation. NRPI is also very close to opening two additional locations in Florida. An additional block of construction financing should be announced very soon will will allow NRPI to go full speed ahead in 4 locations. As I have mentioned in the past, I have felt that the Company's goals of 100, 200 and 400 homes over the next 3 days was rather conservative. Over the past year, all they have needed was the financial backing to make the Company run and now they have it in spades. They are receiving offers from mortgage brokers around the country for financing and/or to bring their system of buy, rehab, sell and finance affordable housing to their city. This reminds me of so many ventures where you are struggling for financing and when you finally gets some the whole world then wants to lend you money. The Company is also be courted by cities and civic groups to rehab homes in their communities. There is a huge need in the U.S. for affordable housing and an even larger supply of houses that need to be turned into affordable homes that will improve neighborhoods and increase the city's tax base. NRPI's 3 year plan was to be in 10-12 cities and selling 400+ homes per year. I think we will see those targets met in the second year and there is very little in the way for the Company to grow into as many major cities as they want to. The cost of expansion is reasonable, there is a ample supply of qualified construction supervisors, interest rates are near record low levels and because of the low price of the homes, monthly payments are nearly equal to what the rental payment would be on the same home before its remodeled. With a base set at present levels, we should see a rally back up to the $.75-.80 range. There will be two newsletter writers, that will have a buy recommendation out on NRPI in September. At the close on Friday, there were 3 marketmakers offering stock under $.45 and the next offer is $.54.<< JOE