The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-06-03

FORTUNES are being made in Min
neapolls real estate. While it IS
well known that several wealthy
men have bought up enough downtown
property to put them forever beyond
the reach of the gaunt wolf, even with
the moderate advance that has taken
place in the last two years, it is not
generally public that scores Of persons
with limited capital are turning over
their money every year, with satlsfac-
tory annual increments. This is the
case with a class of capitalists that has
no more than $50 to start with, and a
regular salary from which payments
can be made monthly on the purchase
price Of property they are buying.
Last Sunday party of clerks from
one OF the large stores was made up
to visit one Of the new additions, with
the idea Of making an investment of
savings. In short, these particular
clerks had become so interested in the
plan OF planting their savings in real
estate, instead of in savings banks,
that they arranged personal investi-
cation Of the tract, with a view to Sc
1ecting lots to buy.
Room for Little Fellows. x
While the wealthy men have bought
choice corners to hold for three or four
years If necessary, for big advance,
the small capitalists often prefer to
sell and buy again, repeating the proc
ess frequently and Increasing their
original savings rapidly. -.
An illustration of the ease with
which money may be made on small
capital in real estate in the present
stage; of the market is contained in the
$25 advance on his small salary and
bought. lots at the rate of $40 down a
lot and: So a month payment on each
lot In. little more than one year IS
time he had $4,000 in his pocket. "
The opportunities to deal on this
plan are numerous in Minneapolis. New
additions are being opened to make
way for, the rapidly growing populIa;
tion. The tracts are generally ught
on such low terms that the promoters
can sell at the rate of $1l5 a lot ION
time or 800 cash. In turn the pur-
chaser often realizes 100 per cent. on
lot in the course Of year. The in
crease of values is natural When the
additions are first opened the improve.
ments are practically. nothing. After
a few lots have been sold off and the
owners have built houses, the property
begins TO get standing of popularity
The tide of population TO the, district
begins and a competitive market is
created. The demandsand, the improve
5ments become accountable for the in
crease in value and the specializing in
weston Treaps the benefit. ss"%. '.>S> = *
z1." Chance for Spectators.
In the South Side additions which
have been lately plated the small pur
ehasers are specializing on the, new
extension which has, been ordered BY
the council They expect to get al
/ the way from so to 100 per cent profit
on their purchases when the line is il
| operation. .@> ''...f t''" -2lf: s'"'',
Il The real-estate agents as a class arr
eager to throw any advantage they ea1
in the way Of the person who is look
ing for real-estate investments, NJ
matter how small theacapital involves
Using which is being done by thes.
agents bears the advice to Gown you
own homes Thousands of lots will
be. bought on the installment plan il
1906 for homes. This movement is 20
ing to create greater trade in vacan
residence lots and the real estate agent
are making. a speciality Of throwing in
vestment opportunities in the way o
the small capital st..s59 ii. ~. i, r.,
One Of the big firms advertises thi
way: Stop paying rent, when 70
can buy "a 45-foot lot for .$175 to $3.50
taxes paid. ]" These lots are as far Oh
as Forty-sixth street, yet the marke
is active. 49,. = .ltt.$.. ". ,,<
Move for Syndicate, :. !, e
! A straw that shows the value of il
vestment in outside vacant lots is II
newed agitation Of a plan by w. !
Sawyer, manager of the real-estate, il
formation bureau Of the Real Estat
board, which was suggested two veal
! ago in The y ourn al in interview
by F. G. Smith and Mr.. Sawyer. TIL
was for the organization of a sYndicat
} to. buy up large vacant tracts to ge
them out Of the market on the prese1
basis and to sell them off as occasio
| required and at higher prices. It we
, expected that this movement would r.
l move all snaps from the market an
) would give a stronger tone to value
/ With sufficient capital for the purpos
> the company could carry large trac
t for an indefinite period and then ope
. them for sale when the demand came
C. The gradual toning Of the mark
: seems to be going out in series {
widening circles from the business &c,
, ter. The circumference has not "
-. reached the city limits, in the opinic
q Of the promoters of the plan, and tt
' scheme would hasten the day Of bett
, values. E'', 80.
!. When such sane men as compose IL
: Minneapolis Real Estate board a.
\ considering a syndicate plan seriousl
it is evident that there is prospect
! early advance in values, otherwise thu
= would not waste their time over it.
PEOPLE DON'T KNOW