Omaha daily bee., 1906-05-27
TIMELY REAL ESTATE TALK
Agents Complain They Have Not Enough
Houses for Rent.
ATTRACTIVE FIELD tOa INVESTMENT OPEN
Demand for Good Cottages Far Ex-
ceeds the supply and Men with
Money Might Proht by
Erecting some.

Rental agents Complain day after day
that they do not have enough houses 70
accommodate the demand. Inc telephones
Hie busy from morning ~ night with calls
iOr houses, anu dozens Of people come in
person to the ohices to maze their wants.
i.nown. One AGENT reported twenty-four
cans IN one Gay, whine he mad but four
4Ouses on has list. The honesecKerS do not
emu their search with the rental agencies,
but even 60 ~ the strictly real estate firms
to see II they cannot ind houses.
THE real estate people are up against a
hard proposition IN the matter of supplying
small houses to the large number OF peo-
pie looking for them" said a prominent
realty man The universal report is that
the demand for I'VE and six-room cottages
for rental was never as great in the history
of the city as II is today. Every real estate
Office is besieged each day by those who
desire to rent such houses. In many cases
they are not to be had. and in some in
stances the applicants for homes are sbso-
lutely becoming discouraged.
Some man who owns a piece Of LAND can
make the best kind OF an investment by
building small cottages for rent or for sale
on the building and loan association plan.
Take, for instance. lot which can be sold
for $500 or less Put on It house which
u NOhAh dDOhA els1Vus 80 AudN the WAAoAc WIN bS
worth $500 Let the owner take first
mortgage Of $1,000 and get the balance in
cash from the purchaser. making the loan
payable a certain part each month with
interest, on the same plan which the build
ing and loan associations use This would
bring good rate to the land owner on
his money.
TT would pay nearly as we'll to rent the
houses. Property located In the suburbs
somewhere near the car line, would rent
readily. Four, Ave and six-room houses
modern except furnace, Is what the renters
want The demand is in part supplied by
the building and loan associations, although
these institutions build houses them
selves. but simply make loans to other peo-
pie for the purpose Of building. There is a
good opening for some man to build 200 or
800 Of these houses and have them taken
for rent as fast as built. In many eastern
cities private owners and syndicates have
made money out of this method Of building
homes"
DIR. Billings will build a residence on a
lot at 1909 Harvey street, which he recently
bought from the Byron Reed company.
Among the new buildings announced In
the last week were; $500 residence for
A. c. Crosgman, at Fifteenth and Webster;
- six six-room houses for L. A. Goldsmith,
at Twenty-second and Clark; 5000 house
for d. v. sholes, at 1901 Leavenworth;
$500 house for d. v. sholes, at 1910 South
Thirty-third street; $500 house for c. p.
white at 5e17 Florence boulevard; 5000
house for J. C. Nelson, at Thirty-flfth and
Woolworth avenue; 5000 house for William
Cathroe, at Tenth and Dorcas; $500 house
for William Sprague, at Forty-ffth and
Franklin; $3.50 house, at Twenty-third
and Boulevard.
The largest lumber contract ever let for
an Omaha building was awarded to George
A. Hoagland last week by the Capital
City Brick and Pipe company. 1t was for
the lumber on the M. p, Smith warehouse
and factory building on Ninth street
Something over $4,000 was involved Be
side this, the largest contract let in recent
years was for $1,000 worth of lumber fol
the Parlin, orendorff s. Martin implement
warehouse at Tenth and Leavenworth
streets.
''what Is holding back the Union Pa
eiflc headquarters building now2" is the
question heard from many lips these days
A while ago It was said that the matter
would be held in allegiance until the return
OF Jacob Schiff from Japan. In the mean
time Mr.. Schiff has resigned from thu
directorate Of the Union Pacific, so hi
return can have no hearing whatever OF
the subject.
The loss to the company entailed by tn
fire at San Francisco is mentioned as
probable cause OF delay. There is no doub
In the minds OF the public in general tina
the enormous loss to the company will hav
some influence when II comes to the ques
ton Of the building. yet they Nigh
relieve us of our anxiety and tell us OF
what corner the headquarters will be-" sa
the men Of the real estate fraternity.
Ejectment proceedings have been brough
against some of the tenants Ia the North
westerns new property near the Webste
street depot. and others probably will be !
evidence soon. Some families have no
paid cent OF rent since the purchase O
the property and they seem to want I
stay In their old homes as long as tn
law will allow them This Is due I'm som