The semi-weekly tribune. [volume] (Great Falls, Mont.) 1890-1891, 1890-08-13
REAL ESTATE EAklRS.
How a Young Western VT Began q
to Make Money,

Nothing to Make Money.
"While fakirs are numerous in all
classes of business" said a prominent
real estate dealer, ~ think that there are
more of them in our business than in al
most any other. The zeal estate fakir Is
usually al ambitious young man whose
imagination has been fired by the daring
exploits of such men as Napoleon Ives.
He thinks that in nothing else can he so
quickly attain riches, at the same time
avoiding the fall that blighted Ives ca
reer.
"These fakirs, dressed in their best
suits Of Clothes call at a brokers' office,
talk Of their property, of large deals on
hand and Of options held by them, as
though they possessed the wealth of a
Gould. The unsuspicious broker re-
ceives them with open arms, but soon
discovers that is all talk. These ad-
venturers go from one office to another,
and it is always the same story-dreams,
empty dreams. Once in a while a bright
young fellow succeeds on nothing but
nerve, as did a young acquaintance Of
mine The fallaw j anaal-af -EssAd- la,
working on u salary of $50 a month, and
decided to open real estate Office. With
a capital Of 800 he rented an office, had
handsome cards engraved, and fearlessly
embarked upon the real estate market.
he succeeded beyond his widest expec-
tations, and is today worth $50, 900, and
all in n year"
What was his method of operation?"
queried the reporter.
at was simply this" responded the
broker. "The young man discovered a
vacant lot in a desirable location for
which the owner paid $40, 900 about two
years previous. He called on the owner
and agreed to pay him $15, 900 for the lot.
His offer was promptly accepted.
"'Hold on said the young man, 4
haven't a cent, but this is what l propose
to do: convey the lot to me and put the
consideration at $50, 600. will execute
a trust deed to you for $15, 5000, which ]
want you to withhold from record for a
few weeks
"This was agreed to, and the young
inancier had plans and specifications
drawn, advertised for bids and received
bids running from $4,000 to $79, 900.
He concluded to let the contract to the
lowest bidder. Now came the vital
question of obtaining the money. The
young man was equal to the emergency.
He called on a well known capitalist,
showed him his deed for the lot, assured
him he had paid $4,000 cash for it, and
stated that he had contracted for the
erection of a 100000 building. This,
added to the value of the lot, would
make SOC, 900. After an examination of
the situation the capitalist agreed to loan
him $1,000, secured by mortgage on the
lot and the building to be erected.
my young friend paid the $15, 900
due on the lot, and II handsome building
now stands there. He also refused $685.
600 a few days ago for a half interest in
his equity in the property. The building
yields n good income, and in a few years
will pay for itself. l can say that while
young fellow deceived in the first
instance, he has lived up to his prom
Uses and is now doing a good business
Another broker relates an amusing en-
counter with a crank.
I'VE meet with plenty of cranks in
our business" said this broker. ''They
all have some wild scheme with millions
in it. One came into my Office today
with a great scheme. He assured me in
that he would make my for
AS | was not busy | listened to
him. His plan was to buy the space
above buildings of moderate height. OF
course said this crank, we won't tell
The property what we propose to
with this space, and they will think |
hey have struck q snap and that we are
'ools when we offer them a few hundred
dollars for the air above their buildings.
When we have obtained this space we
AN build on as high as we please. Don't
vou seer
II failed-to see, and he left, muttering
low many fools there are left."-Chi-
,ago Post,