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For Immediate Release March 1999

Real Estate Cyberspace Society HonorsThe Investment Property Analysis (IPA) Spreadsheet As ASociety GoldProduct

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The Real Estate CyberSpace Society today announced that the IPA Spreadsheet has been selected as a Society Gold Product.. According to John M. Peckham III, Executive Director The IPA Spreadsheet is valuable tool for quickly and accurately evaluating real estate investments. After entering basic information about the property into the spreadsheet, investors can easily determine if the investment is the best use of their capital.

Peckham said that an IPA Spreadsheet on line booth is now open at the Society�s On-Line Expo. The Society�s recommendations and other information appear at the booth along with a special Society offer.

James Mullner, of Mullner Enterprises, described their newest product as a simple yet effective way to test the bottom-line of potential real estate investments for the individual. Mullner stated, For individual investors who must decide how to allocate their limited capital among stocks, bonds, and real estate, the IPA Spreadsheet offers a means of making a direct comparison of total-after-tax return.

According to Mullner, the IPA Spreadsheet makes accurate projections of the four ways individuals make money in real estate. Cash flow, tax savings, principal reduction, and appreciation are all calculated for each year of ownership based on readily available information about the property. This information is then used to calculate the total-after-tax return for the investment. This is the return an investor realizes after the property has been sold and taxes have been paid on any capital gains. In addition to providing an easy to read graph of the total after tax return up to twenty years of property ownership, important quantities like cash flow, taxable income, and projected sale price are also given.

"Mullner Enterprises is enthused about the Real Estate CyberSpace Society Gold Vendor Award and our new booth at the Society�s On-Line Expo where we are offering an innovative product at a special discount to the Society�s members", concluded Mullner.

Additional information on Mullner Enterprises is available at

The IPA Spreadsheet Booth at the Real Estate CyberSpace Society�s On-Line Expo can be visited at Society membership information is available at 617-523-4441.

For Further information or interviews:

John M. Peckham III
Executive Director
Real Estate CyberSpace Society
Four Longfellow Place, Suite 2408
Boston, MA 02114
Phone: 617-523-4440 Fax: 617-523-4736