f danger,
may be had by following a few simple rules, if one can command a
little capital, borrowed or owned.

The following points, suggested by a professional land shark, will
certainly be of interest and possibly of profit to the intending
buyer. I believe myself that they contain the whole philosophy of
land speculation.

For a sure profit buy low-priced land, keeping as near the "raw
material" as possible; high-priced property is risky and expensive
to carry. An acre which costs one or two hundred dollars, or ten
dollars per lot, will cost but six to twelve dollars per year to
carry and half a dollar for taxes, and if a stable does come next
you, why, you can sell your land for a blacksmith shop.

Besides this, a ten-dollar lot, if restricted for residence or
available for business, often advances to $100 in a year; one good
house which some one else built near it may raise its value that
much.

If the land _is_ high priced, see that there is some kind of a
building on it; even a shanty will usually bring in enough or save
you enough by its use to pay the taxes; so you will have that
working for you whilst you are away.

If possible, buy at auction and of reputable people who are not
boomers, or at least buy at forced sale; that is how real estate is
sold when it must be sold. Choose lots level with the curb and on
high ground, lest the expense of grading and sewering eat up your
profit.

Keep in mind that in buying land for speculation one really buys the
opportunity to tax other people, by taking part of their earnings in
the shape of rent or price. Do not then be deluded by boom schemes
in inaccessible or desolate places; choose rather that land which in
the natural course of events others must have in order to work or to
live.

Home buying in small communities is safer than in the outskirts of a
large city, because public improvements are much less costly. If you
put $500 in a $5000 home and carry the balance on mortgage, an
assessment of $1000 for streets or sewers, which helps the vacant
lots, will probably put you out of business. Whether for use or
speculation, buy in an established neighborhood or where the
circumstances and neighbors are such that restrictions or
expenditures will make its character sure. The increase in your land
value depends first upon the presence, then upon the efforts, of
others; it is by their labor you hope to profit.

Therefore, buy property on leading thoroughfares;