Now I Do Not Mean To Discourage Moneyed Men From
Investing In Minnesota Lands.
I do not wish to raise any bugbears, but
simply to let them know that hoarding up large tracts
Of land without
making improvements, and leaving it to increase in value by the toil
and energy of the pioneer, is a way of doing things which is not
popular with the actual settler. But there is a great deal of money to
be made by judicious investments in land. Buying large tracts of land
I believe to be the least profitable speculation, unless indeed the
purchaser knows exactly what he is buying, and is on hand at the
public sale to get the benefit of a second choice. I say second
choice, because the preemptor has had the first choice long ago, and
it may be before the land was surveyed. What I would recommend to
speculators is to purchase in some good town sites. Buy in two or
three, and if one or two happen to prove failures, the profits on the
other will enable you to bear the loss. I know of a man who invested
$6000 at St. Paul six years ago. He has sold over $80,000 worth of the
land, and has as much more left. This is but an ordinary instance. The
advantage of buying lots in a town arises from the rapid rise of the
value of the land, the ready market, and withal the moderate prices at
which they can be procured during the early part of its history.
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