The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-06-24

Features of the Minneapolis real
estate and building market are unusual
ly distinct and are unique. One is the
tremendous sale of cheap lots to class
of persons which wishes homes, but
which has not the capital to pay spot
cash, nor the financial prospects which
warrant more than a very modest total
expenditure. Large area and low prices
in the outskirts are conditions. An adj
ditional favorable factor is the willing
ness of certain investors to buy prop
erty in bulk, plat it, sell of the lots
at small profit on the original invest,
ment, grant easy terms and then build
houses at any value desired by custom
ers to be paid for in sums equal to
monthly rent.
Several companies, and few con-
tractors, do this line of business eX.
clusively. In way they are benefac-
tors of the city. They keep adding to
the ranks of the home owners. In doing
this they make better citizens and en-
able people to lay up money while at
the same time they afford them means
for it's investment. In other words,
they enable citizens to save money in
permanent way that yields one of the
best forms of interest-an incentive to
: good citizenship and an increase of self
respect. 49,. ..-s.. 'nt
How It Started.
= Theodore F. Curtis, originator in Min
neapolis ten years ago of the plan OF
on easy payments, still believes thoroly
in this unique industry. He considers
it good move for the purchaser as
well as for the builder. .:as r.. .
1T was in 1894, one of the worst pos
sible times for financial venture, that
Mr.. Curtis applied observations he. had
made in other cities to Minneapolis.
coorooI of b;,, n
at the time. vet the idea took hold we'll
and was a success.
He built these cottages every year
for seven yeaTs--an average of twenty
five houses annually. He says he never
lost a house Or a cent of money on any
of the persons to whom he sold. For
four years he has been engaged else
where, but resumes building in Mime
apolis this season with a new. style of
apartment house for Tenth street.
In a reminiscent way Mr.. Curtis said
today: elm my travels around would
see so many pleasant little cottages
it seemed to me something of the kind
would pay here. The demand was SO
great I had all could do I could have
done four times the business if I had
had the capital to do it with It takes
good deal of capital to help the peo-
) pie who buy this way, as the builder
must leave much OF 1T IN the houses.
The system is good and it yields good
: interest on the mans money who in
vests in cottage building. It is a good
system for the man VINO buys as we'll as
for the man who SELLS It is good
system if the man will be honest with
his people and sell them just what in
his estimation he thinks his customers
can do. The trouble is that young
man and his wife want all they can get
and do not stop to think Of payments
later on. Some are apt to want little
larger house than they can purchase
with limited capital. 1885,.
Results Satisfactory.
CHOW, not week goes by that
some one of my people does not come
up and slap me on the back and say:
Il am happy as lark. We have our
house all paid for Not only that, I
have other persons that have saved
money and put in house, who have
saved enough so that they can sell it
and go into business, who, if they
hadn t done so would never have
saved the money in any other way.
So I am a great believer in people
= owning homes for themselves, and if
they cant own large one, own a
: small one, but be sure and own one
they can pay for, and pay easily.
81 bought lots in Calhoun park ad.
4 ditioT and Window addition, costing
from $3.50 to $400, and most of them
paid me from $400 to 5000 apiece
: These We're lots which sold twenty
years before for 81 500 to $4,000 apiece