SECURITIES AND EXCHANGE COMMISSION,
Washington, D.C. 20549

SCHEDULE 13D
(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO §240.13d-2(a)

(Amendment No. ___)*

Under the Securities Exchange Act of 1934

Real Estate Associates Limited II
(Name of Issuer)

Limited Partnership Units
(Title of Class of Securities)

Not Applicable
(CUSIP Number)

Scott M. Herpich
LATHROP & GAGE L.C.
2345 Grand Avenue, Suite 2400
Kansas City, Missouri 64108-2684
(816) 292-2000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

06/20/2003
(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of § 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

(Continued on following pages)
(Page 1 of 9 Pages)

_________________

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

(1) Names of reporting Persons; I.R.S. Identification Nos. of Above Persons (entities only)

Bond Purchase, L.L.C.
43-1727861

(2) Check the appropriate box if a member of a Group (See Instructions)

(a) [ ]
(b) [ ]

(3) SEC Use Only

(4) Source of Funds (See Instructions)

(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)

(6) Citizenship or Place of Organization

Missouri.

Number of Shares	(7) Sole Voting Power
Beneficially Owned by Each	(8) Shared Voting Power	302 Units
Reporting Person	(9) Sole Dispositive Power
With	(10) Shared Dispositive Power	302 Units

(11) Aggregate Amount Beneficially Owned by Each Reporting Person

302 Units

(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ]

(13) Percent of Class Represented by Amount in Row (11)

5.7%

(14) Type of Reporting Person (See Instructions)

(1) Names of reporting Persons; I.R.S. Identification Nos. of Above Persons (entities only)

David L. Johnson

(2) Check the appropriate box if a member of a Group (See Instructions)

(a) [ ]
(b) [ ]

(3) SEC Use Only

(4) Source of Funds (See Instructions)

(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)

(6) Citizenship or Place of Organization

United States.

Number of Shares	(7) Sole Voting Power
Beneficially Owned by Each	(8) Shared Voting Power	302 Units
Reporting Person	(9) Sole Dispositive Power
With	(10) Shared Dispositive Power	302 Units

(11) Aggregate Amount Beneficially Owned by Each Reporting Person

302 Units

(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ]

(13) Percent of Class Represented by Amount in Row (11)

5.7%

(14) Type of Reporting Person (See Instructions)

(1) Names of reporting Persons; I.R.S. Identification Nos. of Above Persons (entities only)

Sandra L. Castetter

(2) Check the appropriate box if a member of a Group (See Instructions)

(a) [ ]
(b) [ ]

(3) SEC Use Only

(4) Source of Funds (See Instructions)

(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)

(6) Citizenship or Place of Organization

United States.

Number of Shares	(7) Sole Voting Power
Beneficially Owned by Each	(8) Shared Voting Power	302 Units
Reporting Person	(9) Sole Dispositive Power
With	(10) Shared Dispositive Power	302 Units

(11) Aggregate Amount Beneficially Owned by Each Reporting Person

302 Units

(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ]

(13) Percent of Class Represented by Amount in Row (11)

5.7%

(14) Type of Reporting Person (See Instructions)

Item 1. Security and Issuer.

This Schedule 13D relates to Limited Partnership Units (the “Units”) of Real Estate Associates Limited II, a California limited partnership ( the “Company”). The principal executive offices of the Company are located at 55 Beattie Place, PO Box 1089, Greenville, South Carolina 29602.

Item 2. Identity and Background.

This report is filed by Bond Purchase, L.L.C. (“Bond Purchase”), David L. Johnson (“Mr. Johnson”) and Sandra L. Castetter (“Ms. Castetter”) (collectively, the “Reporting Persons”).

Bond Purchase is a Missouri limited liability company with a principal office and business address of 104 Armour Road, North Kansas City, Missouri 64116, whose principal business is managing and investing in real estate limited partnerships. Mr. Johnson and Ms. Castetter, husband and wife, jointly own a majority equity interest in Bond Purchase.

Mr. Johnson, age 46, is Chairman and a member of the Board of Trustees of Maxus Realty Trust, Inc. (“MRTI”), a Missouri real estate investment trust that holds commercial real estate properties and is listed on NASDAQ. In addition, Mr. Johnson is Chairman of Maxus Properties, Inc. (“Maxus”), a Missouri corporation that owns and operates companies with over 6,000 apartment units and 460,000 square feet of office and retail space. Mr. Johnson is also on the Board of Directors of Maxus Capital Corp., the managing general partner of Maxus Real Property Investors—Four, L.P., a Missouri limited partnership that is a public reporting company. Mr. Johnson’s principal business address is 104 Armour Road, North Kansas City, Missouri 64116.

Ms. Castetter is a citizen of the United States whose personal residence is located at 4617 NW Normandy Lane, Kansas City, Missouri 64116 and is not currently employed.

During the past five years, none of the Reporting Persons have been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which he or she was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Item 3. Source andAmount of Funds or Other Consideration.

The total amount of funds used by the Reporting Persons to acquire the 48 Units reported in Item 5(c) was $9,346, which includes $700 in transfer fees. All 48 Units were acquired by Bond Purchase with funds from its working capital.

Item 4. Purpose of Transaction.

The Reporting Persons have acquired the Units for investment purposes. The Reporting Persons do not currently have any plans to attempt to affect any other change with respect to the Company, but this may change in the future. Depending on the market price of the Units, the Reporting Persons intend to acquire additional Units in the future.

Item 5. Interest in Securities of the Issuer.

(a) The aggregate number and percentage of Units to which this Schedule 13D relates is 302 Units, representing 5.7% of the 5,328 Units outstanding.

Bond Purchase is the direct beneficial owner of 302 Units, representing approximately 5.7% of the Units outstanding.

Because Mr. Johnson and Ms. Castetter jointly own a majority of the equity interests of Bond Purchase, Mr. Johnson and Ms. Castetter may be deemed to be beneficial owners of the 302 Units held by Bond Purchase, representing 5.7% of the Units outstanding.

(b) Bond Purchase has the direct power to vote and direct the disposition of the 302 Units held by it. By virtue of Mr. Johnson and Ms. Castetter jointly being the majority equity interest holders of Bond Purchase, Mr. Johnson and Ms. Castetter may be deemed to share the indirect power to vote and direct the disposition of the Units held by Bond Purchase.

(c) The following purchases were made by the Reporting Persons during the past sixty (60) days in private transactions pursuant to an offer to purchase Units from limited partners of the Company, all of which were effected by Bond Purchase:

DATE	QUANTITY PURCHASED	PRICE PER UNIT
June 20, 2003*	41 Units	$201.00
September 4, 2003**	2 Units	$ 50.00
September 4, 2003***	5 Units	$201.00

*	Although confirmations were received June 20, 2003, the transfer was deemed effective on June 1, 2003 by the transfer agent.
**	Although the confirmation was received September 4, 2003, the transfer was deemed effective on August 1, 2003 by the transfer agent.
***	Although confirmations were received September 4, 2003, the transfer was deemed effective July 1, 2003 for 3 units and August 1, 2003 for 2 units by the transfer agent.

(d) No other person is known to have the right to receive or the power to direct receipt of dividends from, or the proceeds from the sale of, the Units other than the Reporting Persons identified herein.

(e) Not applicable.

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

The Reporting Persons do not have any contract, arrangement, understanding or relationship (legal or otherwise) with any person with respect to the Units, including, but not limited to, transfer or voting of any Units, finder’s fees, joint ventures, loans or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.

Item 7. Material to be Filed as Exhibits.

99.1 Joint Filing Agreement

SIGNATURES

After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

	BOND PURCHASE, L.L.C., a Missouri limited liability company

	By: /s/ David L. Johnson
	Name: David L. Johnson Title: Member

	Dated: September 11, 2003


	/s/ David L. Johnson
	David L. Johnson

	Dated: September 11, 2003


	/s/ Sandra L. Castetter
	Sandra L. Castetter

	Dated: September 11, 2003

EXHIBIT INDEX

99.1 Joint Filing Agreement

Exhibit 99.1

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, the persons named below hereby agree to the joint filing on behalf of each of them of a statement on Schedule 13D (including any amendments thereto) with respect to the limited partnership units of Real Estate Associates Limited II beneficially owned by each of them and further agree that this Joint Filing Agreement be included as an exhibit to such joint filings. This Agreement may be executed in any number of counterparts all of which taken together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the undersigned hereby execute this Joint Filing Agreement as of the 11th day of September, 2003.

	BOND PURCHASE, L.L.C., a Missouri limited liability company

	By: /s/ David L. Johnson
	Name: David L. Johnson Title: Member


	/s/ David L. Johnson
	David L. Johnson


	/s/ Sandra L. Castetter
	Sandra L. Castetter

SECURITIES AND EXCHANGE COMMISSION, Washington, D.C. 20549

SCHEDULE 13D (Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO §240.13d-2(a)

(Amendment No. ___)*

Under the Securities Exchange Act of 1934

Item 1. Security and Issuer.

Item 2. Identity and Background.

Item 3. Source andAmount of Funds or Other Consideration.

Item 4. Purpose of Transaction.

Item 5. Interest in Securities of the Issuer.

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

Item 7. Material to be Filed as Exhibits.

SIGNATURES

EXHIBIT INDEX

Exhibit 99.1

JOINT FILING AGREEMENT

SECURITIES AND EXCHANGE COMMISSION,
Washington, D.C. 20549

SCHEDULE 13D
(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO §240.13d-2(a)

BOND PURCHASE LLC SC 13D