--------- Inline attachment follows ---------

From: <"JEFF SMITH" <jsmith@austintx.com<@ENRON<
To: Allen, Phillip K. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=PALLEN<
Date: Friday, December 14, 2001 1:36:30 GMT
Subject:

If you decide to move to Kerrville I know of an excellent builder that I
have worked with in the past.

He has built numerous custom homes in the Kerrville\Fredericksburg area that
are very high quality. He has excellent long time crews using local German
craftsmen. They do outstanding trim work and framing. Most of his houses
are Texas style with solid rock walls, standing seam roofs, antique wood
flooring, cabinets, etc.

Let me know if you are interested.

Jeff Smith
The Smith Company
9400 Circle Drive
Austin, TX 78736
512-394-0908 office
512-394-0913 fax
512-751-9728 mobile
jsmith@austintx.com

--------- Inline attachment follows ---------

From: <"JEFF SMITH" <jsmith@austintx.com<@ENRON<
To: Allen, Phillip K. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=PALLEN<
Date: Friday, December 14, 2001 1:16:18 GMT
Subject:

The seller said she would fax the numbers tomorrow morning (12\14). She
says the NOI is around $300,000 per year. After taking into account the
management fee she says they will accept a price of $2,700,000.

This is not a bad price for a well maintained\located property with large
average unit sizes. See the attached Excel file for a description of the
property

Jeff Smith
The Smith Company
9400 Circle Drive
Austin, TX 78736
512-394-0908 office
512-394-0913 fax
512-751-9728 mobile
jsmith@austintx.com

- colonial oaks -kerrville no data.xls