The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-26


Inc money out of real estate
~ despite al the s'orIcs of de-
tro1sed values and dropping
rentals II Il quite true 'hi; at this
tmo great profits are not beng made
orr 'Ild luck Investments as they were
mad" a. n" time " the b.g boom, nor
. proportion to the number OF proper
He- rtss.n" through the rcd. cstl.c
mirE"; al this time are there "a many
l'es ~ large gains ls here We're q
20 Years ago. But many rrpp.p have
1't" fortunate turns during the at
car and though. as every reader knows.
!, almost as hard Co set he true de-
.ls NJ tho terms 90 private rcl' c.tptc
a" 1r'.unS as r. ~ - rot the true
.e'1s NJ fish story. prob blv a dozen
7,es have been reported to TIRE SIN
e. 'h show hat opportunities for good
nr'Al IN real estate s;.ll are to %, had
When good Judgment is Il cd.
These few eases represent the OK
ro..ou.e 0t only a SINAI circ.r OF broker
and operators whose views were asked
~ the subject Of money making ia roa!
"sa'e at ;h.s time. Some of those seen
declared that they did not know OF
yersOa who hal made a successful, ,urn
duuns the ,Isj year. but most Of tho''
interviewed. while they said that their
Enow.cdgr of b.g profits recently made
VA rather Limited. told OF ct leas. one
instance IN which the use ~ what
might Nc segardel as u hing more
nan ordinary good Judgment resulted
n NE making uf 2 small fortune. Ii Is
notable that no one class or grade of
properly j. cited as thar IN which sue
,eSsfIl speculation or Investment has
N'en carried on There Is a cLsc of a
small downtown commercial building
md that ~ a big building bulk on a
r'ominent Broadway corner. quite a
lumber Of Instances are told OF quick
and profitable turns in apartment
9onsc' but as many are cited Of gains
made N ridlng In ."ss pretentious
parcels along the lines Of SIT Of the
improvements being carried on by the
city
Men who have engineered hes" sue
's-SfU' deals declare as a rule thit 'b'
opportunities for making profits ov'
many, bat that the investing public
a'ks tn" nerve or good judgmcn- 20
70 IN aAd take IN" chances c'icfei
u vas only after the most per.i~,on
urging, according 10 one brokers st"rN,
'1'' he Was able to &c; customer o. 20
mo deal for o. d,WD,pwl building
winch according 10 the bro'tpr's figu"o q
showed a sure profit o. $4,000 on an
.HNestman. Of 10000. When finally the
deal wl' closed an Offer o. an advance
'. slightly more than the $4,000 "as
MADE. but the new owner turned it away
"'h the declaration that he would take
nothing less than $4,000 more than was
offered
Tho story of Joseph Scherk is fresh in
ne minds Of SUN readers. ScvcIai days
as1 Schcnk sold Manfred Court, at the
northeast corner Of For; Wa ShlngtOn
avenue and l6lst street, . alX story ole
V'or apartment house. for S22 600 more
Ven he pad Tor il four months ago. II
was the first purchas" made by NcAenk.
although he has been In the realty field
IN many years. His faVor.tc operations
"'r. LEASING apartment houses for ON"
'o I've wears from people who could not
max" them go. "A u rue he got the
mouse for nearly the rental he was will
'0S 10 pay. Anyway he has about
rsh.} -tiye apartment houses Of diff
'''cnt types and sizes in his control
lar cautousness that comes with age
prevented him from buying realty. There
was risk in II that was not In leasing
''rr'aut!Ousness IL often worse than
bone at all. II has been the barrier 10
fortunes for many,
S'acnk was induced to set aside his
canton this time and buy the apart
m"n house, 1t was fully rented and he
was shown how h!s money was as safe
a. II he had leased the property. He took
Va" house from the builder, paying him
profit Friday a week ago he sold Il
1911