New-York tribune., 1922-12-10
Operator Says
Buy Right and
Then Hold On
Reminds Investors Values
viii Increase as the City
Grows; When Sure DO
Not Hesitate to Act
Nv Daniel Il. Jackson

An Important element ~ reai frS~eN
setiyity is more buyers than sellers.
Sew Investors arc purchasing real
state and old investors ere holding on
choice parcels, not only because Of
hei- rieh reiarn but Of their possible
utnrc. u Is true Of Manhattan bor-
.nrh more than any other location IN
BIS country that there is 10 top price
20 nifn. be be ever 90 skrcwd, can pre-
iict the actual future of New foTk
real estate.
Those who are always referring 70
Ytrio6s when prices came down are not
rue students N real estate conditions
= they were ! doubt II they would
iisplay such ignorance Of eeorone
aw.
~ former years q builder would con-
tfuct q block of houses on shoe.
tring. with large mortgage and
little cash, and would sell for Q small
profit The buyer would wake up
Fhcn the mortrlrc became due. There
would be no renewal, and the result
Fas tho auction room. with 10 bidders.
'foneriy such az this and others Ike
Tiae sold became a drug on tho market
Then the large lcpding institutions re-
lliEed their error and took steps 10
.orreet their mistakes. Present con
iitions are tho result of these efforts.
Condition Is Healthy
To-day lending institutions vii loan
My 90 20 90 per cent, 30 that the
luidcr must have AZ least 30 per eeHt
n cash. In addition 20 this proes1-
ION, q majority OF tbe loans are amor
ned 20 the extent Of 2 70 per cent.
With the result that to-day real estate
con3Ih0us arc exceptionally healthy.
IS a result of this c0fGilion e builder
oc5 net rash 20 sell his product, but
insists on q fair profit and gets II.
Going back 90 old conditions and
he change Of front b. the lending in
iitutions. building activity ceased for
ONE time. This gave owners an op.
i1rtunity % fill up vacancies, which
.cant "a substantial income 20 owners.
was then the boom began; population
iad increased tremendously, homes
gcre neceegary for the great influx
rom abroad, the demand exceeded the
upply, new investors jumped into the
cal estate field. found out what q
eeratiYr mine u was and have re-
NAMED investors ever since. Because
4. thc income they derived most Of
htn were sbrcwd enough 20 bold on
o their properties, so that to-day In
ld5iton 70 income their equity has
increased and their mortgage or NOR
ages have been reduced.
4 hcii eve that real estate 20 day ig
he best Investment for any one with
lufciept moneys 10 purchase, subject
o q mortgage or mortgages represent
le up 90 O. or 70 per cent value, and
fat fhc future viii Gh0v the ssre
strides in certain sections IN increased
a'ucs that We have seen IN the lAst
tfo ycara.
Nr advice 80 irvr stors 81 10 study
rcLuons and buy 10 sections that they
re most familiar With. An investor
aho makc0 IN bis mind 70 purchase
11lt ad qniekiy. Many large for
Ircs we're lost 20 investors and oven
rcWd real estate operators, because
ney tried 20 bargain and lost out
10 give o few instances Of my own
it gear, let me quote three that arc
nmililr 10 my business acqusintances:
Johnny Osborn. q prominent broker,
1honed me one afternoon that q
.cnt had made Up her mind 20 S8eri-
ce n choice hotel property on Thirty
rc0rd Street near Fifth Avenue, and
Hat he was dealing with others who
suid rot make Up their minds 20 say
rcg or no. The following morning !
rucJ contract and after usual time
.cseo titic. Last August ! rcgoid thit
ropcrfy and passed title 20 the Beilak
lotci System at net profit Of close
o ti0o 900.
instance two: I purchased the Lon
Jon Casino property az 8si6 Third Ave-
luc. in July. 1922. a 200 foot business
luilding. A tenant who occupied part
~ the building was offered the prop
fly ut Si75,O 900, but held out expecting
20 get 70 cheaper. I stepped in on one
iogrf notice and tho tenant In Septem'
lor, TWO mouths after my taking title
SOS more than pleased 20 pay me
I205.00O.
Instance three; Certain people were
negotiating for the southwest corner %
olumbus Avenue and Sirty-hrst Street
lut insisted on bargaining. 7. u. Rysf
lhoncd me about this property st e;Sl
'uc night ni.d the next morning
rnei contract Within three days
zee sd $4,000 proAt for my contract
Don't Get Panicky
Df course, 20 use quick ludgmcn
mo mus know o choice location nn'
c able 20 tell II the terms Gre od
lntagcous. Real estate Is 80 hrml.
tahlishcd that money is going beg
ling az 20 5h per cent. This show
BE confidence that sound conservative
Institutions and individuals have Il
ral estate to-day. To sum Up briefly
amounts 90 this:
q. Il is the surest and safest invest
mont AND beat income producer.
3. Tn addition 90 real income, on
tands O chance Of seeing his invest
acnt doubled an tripled ia value.
8 u is something you own and hGvl
omplcoc c0ltfol over.
4 Don't rush 90 sell or get paniok.
'0r any reason whatsoever.
e. New York Is the atest city Il
De- world and See greatest product Il
'eal estate the values o. which mus
Increase with its growth.