Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-03-04
REAL ESTATE CHANCES
DISCUSSED BY EXPERT
Opportunity, Organization and
Financial Resources Are
All Needed.

''The Manufacture Of Real Estate"
was the subject Of an address at the
Y. M. c. A. in New York city last week
by the assistant treasurer of real
estate company. He said that 1.-The three
prime requisites to warrant any one
engaging in this work are. in order Of
importance, opportunity. organization
and capital or financial resources.
Without the first the others are useless.
Given opportunity without organization
the opportunity is wsfsted. and opportu-
nifty and organization without financial
resources are helpless. In New York, as
in no other place in the world, is OPP
portunity offered to organized capital to
engage safely and profitably in the man
ufacture Of real estate.
THE organization necessary for the sue
cessful carrying out of this work must
necessarily be a well co-ordinated system
OF various departments. For instance,
like other manufacturing businesses, there
must first be purchasing department.
This department must be able to judge of
the quality Of the raw material and It's
value-that is, to foresee coming Inn
provements in transit facilities, TO de-
termine the future trend OF population
in the section under consideration and to
accurately appraise the present value OF
the acreage property that it is proposed
to purchase After the property is pur-
chased there must be an engineering de-
partment fully competent to lay out a
scheme for street improvements, with
grades that will meet with the city's ap-
prevail, and to plan a physical develop,
ment that will be both economical anu
comprehensive"
ENCOURAGEMENT Should Be Given.
The speaker continued:
while opinions may differ I feel that
it is best for the operator to make all i'm
provements. including grading of streets.
putting in of sewers, curbs, sidewalks and
paving, and turning the lots over to pro-
spective builders free Of all assessments
and ready for their immediate operation
If the neighbOrhOOd Is new-or, in other
words, IL the property does not adjoin
Immediately other improved properties-it
is frequently advisable for the operator to
carry on. the first building operations,
among other purposes to establish values
and demonstrate to more tiMid builders
the wisdom and profit in such enterprises.
Then encouragement should be offered to
other builders, especially those who are
among the first to take advantage OF the
opportunities offered. This encourage
ment might take the form of special
concession in price, assistance in obtain
ing building loans, or willingness to take
back mortgages on the property.
From the time of purchase and during
the development work the manufacturer
should be in close touch with the selling
department, and through this department.
or by the advice of outside brokers' should
keep constantly in touch with the market
and guide the development work in &C
cordance Herewith, for the chief material
end Of such an enterprise is the sale of
the finished product to the consumer.
1.-THE real estate operator has the as
surance that the commodity which he is
handling is one that is always in demand.
being one Of the essentials of life; that
there is only limited amount of it in the
city Of New York, and that the demand
for it is constantly increasing.