The San Francisco call., 1910-08-13
LITTLE MONEY. OFTEN
GROWS INTO FORTUNE
Actual Experiences of People Who
Have Got Homes on
Small Outlay

Some very interesting letters have
been received by The Call this week in
the home. getting competition, which
was announced two weeks ago.
These letters come from people who
have successfully coped with the prob
lem Of owning their own homes. Some
have done so with very little cash at
the start.
Letters received by the real estate
editor Of The Call illustrate better than
any other explanation that could be
made how homes may be obtained at
small outlays. The following letter
explains how one man got home now
worth $4,000 for sl,lO0:
GOT A $4,000 HOME FOR $I,IO0
[ had always wanted some place
Of my own, so in looking a the real
estate advertisements IN d Sunday
paper ] noticed a lot with a small
house for Sl,500. l did not expect
10 md much Of a house and l was
not disappointed. However. the lot
commanded a beautiful view of the
city being located In N street, sun
set, and I was SO well pleased with
the prospect that negotiated with
The agent and finally bought the
place Tor S1,l0O cash. A house and
lot ia a very fair street, surrounded
by other houses for $1,1O0i OF
course, the house was in bad shape.
but the possibilities We're there.
spent $500 on the place-did a good
deal of work myself-and today I
wouldn't part with my house for
S5,0o0. My view embraces the
SutrO forest. the city park and
ocean, and now the new car line
passes within so feet of my door.
Another contributor tells how he OBJ
tained $4,000 home with a cash outlay
OF only $500:
Although $500 was all the cash l
possessed, 1 was determined to get
some place where ! could pay my
rent to myself. | did not care to
put my earnings into a property
where most Of the value would be
IN the house. small house.
thought, and good sized lot would
be about right. SO l began to look
around for a district where chances
for values increasing were great
est, and secondly. for a buy with
IN my limited means. The district
reached by the Union street line
looked best TO me, as all improve
ments are new and attractive and
most of the property has a marine
view and for such property the
prices are extremely reasonable
/ inquired that it would be only a
matter Of time when this district
would have better transportation
facilities and that alone would in
crease land values. To make a long
story short, real estate firm ad-
vertised a bungalow Of four rooms
was pleasantly surprised TO find
the lot a key lot 32:exl37:e The
ground alone 1 hgured to be worth
Ny S4e0 began to look very small,
put putting on brave front I &
bearded the agents who began to
figure with me how the deal could
be handled. The German bank
loaned me $500 on the piece and
after the owner agreed to take
$4,000 ne stated he would hold the
balance of $4,000 on a second mort
gage. so now instead of paying
my $50 q month rent L own nay
home and pay S22.5O interest: the
balance pays the second mortgage
When this Is repaid I intend to en-
large the house 1t is my first
venture in real estate and [ doubt
# many such sales are made The
agent. as well as myself is con-
siderably .elated at buying a $4,000
home with $500 cash
GAIN IN VALUES IN 10 YEARS
A very good way of seeing how
values are likely to increase in the fu-
ture is by studying prices of lots 10
and y years ago in certain districts
and comparing them with present
values. Here is an "ad" which ap-
peared in a San Francisco paper No
vember IL. 1898:
The Greatest Bargain Offered in Years
Eleven lots only $4,000 each
The buyer then doubles his money
in the property. Two Of the lots
are corners. Seven lots, 25x12O.
~ corner Of B" and 21st Avenue.
and 18th Avenue. Price for all
only sl,650O0. or win sell the four
lots corner Of B" and 18th Ave-
Easy terms, $500 cash. pay
ments TO suit. The seven lots cor
ner of B" and 21st Avenue for
payments TO suit.
These lots are now worth $1,000 each.
Ten years from now they may be worth
from $4,000 TO $4,000 each
oscar Heyman, the well known real
estate dealer, in discussing ways and
means that may be adopted in buying
homes on limited means says:
The trouble is that the majority
Of people do not know how easily
home can be secured. There are
financial institutions and builders
ready 10 deliver a home complete
TO any man of character who can
no more than pay rent. The prob
lem Of financing such investments
Is simple ! know of no city where
II IS so easy 10 get homes in
san Francisco at the present time.
Prices are lower now than they
ever will be gain.
In more cases than I can name
I have seen houses and lots grow
into small fortunes, without the ex-
penditure Of any more than they
would pay out as rent. Ten years
ago ] sold a home to man for
sl.S5O in the Sunset district. He
paid for il at the rate of $50 a
month. Now I am selling that
same place for $2.25o Of course
the house, has deteriorated but the
land has increased in value more
than enough to make up for that.
The owner has 10 years free from
rent and now gets $400 more than
he put into the place. Moreover
il comes at a time when he has
become blind, and this S2,250 is
what he depended upon to keep him
from penury. That home invest
ment has been better for him than
savings bank account or endow-
ment policy.
Ten years ago, in 1900, I sold lots
in Twentieth avenue, between I
and streets. for $4O0. Now these
lots are valued at $1.750. Lots that
sold for $3.50 In 1900 now bring
$1,000 in that locality. Such ex-
amples show what an absolutely
safe and sure investment city lots
are in San Francisco. The same
propOrtionate increase may be ex-
pected in Ghe next 10 years.
HOME GREW INTO FORTUNE
William II. Waltholl of the De Wolf
realty company gives the following e
instance ol-profit in home buying:
Fifteen Years ago. when Mr. de
Wolf began to sell land in the