New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-10-06
THE WEEK IN REALTY.

The real estate market last week showed an ex-
ceIlent demand for various kinds Of real estate.
Many dwelling houses. fathouses, apartment
houses and business buildings and unimproved par
GELS reported sold, and every section of the
city seemed to be attracting a large number of
prospective buyers.
In one of the largest real estate offices In this
city many placards nailed the walls for the
benefit of the employees and the customers. One of
the placards reads. Hustle While You Wait and
BE Always Courteous. Persevering and Wide
Awake and You VIII Succeed Where Others Fall
These placards reveal some Of the rules governing
the business OF the office. It is said that many
realty men lose heart when they are not talking
business to their clients and forget to lay their
plans build up their business in their dull hours
And then there many realty men who are al
ways gruT unless they a big deal in sight in
which they will get a slice of the commission
The most successful men in the realty business.
said well known realty Tribune re-
porter ARE those who know realty valuations. can
feel the pulse OF the market and striving
TO please their customers When person seeking
TO invest in real estate visits my Office never let
the Office boys talk business to him if possible.
take the visitors into my private room and there
have heart to heart talk with them. Everybody
that 70 my Office to discover good real estate
investments come looking for bargains. To the
most Of them the word bargain means something
offered considerably less than its real value but
there are bargains and bargains Of this kind, and
sometimes when you get them, though you may
could have got it for some years ago. yoG quickly
discover that you could not readily dispose of it,
What would you call a real estate bargain?"
asked the reporter.
"A true real estate bargain" exclaimed the
operator, lis one which the buyer handle q
profit or dispose OF without much trouble at a
price TO pay him for his investment. I say II is
Impossible to place in the hands Of sour tenn
pered person with idea about management q
bargain IN business properties in the hathouse
harS line Srhu he
to any one knowing how TO deal with his neighbors
and to manage his employees. but an elephant to
any else. In dealing with persons L try TO put
myself IA their place. and then / make a vigorous
effort TO give them something which they can
handle advantageousy to themselves. If 1 meet
a person rushing to failure. and no action on my
part steer him into the paths which ne should
for better fortune another day 1 am fully aware
that that visitor or customer will sooner or later
and that he VIII blame for his financial dis,
his poor judgment If he ever should
think of Investing again he would give me wide
How do you go about putting persons the
right road TO success in the realty market?" the
Wei it is a hard task but it nevertheless af-
fords me considerable pleasure. because the pros
honest honest and looking out for his interests all the
time. Not long ago young man visited me and
told me the hathouse which he wanted to buy.
5nd aRs Po 81 hs Of It r $50 Down and ah ND
the remainder what termed easy payments.
asked him if he had stopped to think What + the
operating expenses of the fathouse would probably
be for the coming year, and if he had more than
$500 in the bank He replied that he had given
the subject OF operating expenses thought, and
that $500 all the money he had. Now. my
young man.. I sad, the chance Of your making
a safe investment I'm fathouse property is slim.
Suppose the tenants should move from the house;
suppose you should be called upon make large
improvements; where would you get the money to
meet the interest, the tax bills and to make the
improvements? j should advise you to have a
larger capital before investing in fathouses. Then
II the rental from your fathouses is decreased
by vacancies. or your operating expenses should
be greater than your income from the house you
have money with which TO keep the deed for the
house safe and secure in your pocket. My advice
for you is 10 buy q small two family house valued
al about $4,000 At that time knew OF two fam
lily house which / thought could be bought for
about $1,000. told him about il. and showed him
how he might secure ii on easy terms and make an
excellent investment Well. I got the house for
him. and IL is really paying for itself II II should
become vacant ii would. feel sure. be rented
again These only facts about a little
deal. but / adopt the same tactics in my affairs
with larger investors"