Building And Loan Associations

One of the worst forms of investment in real estate, in my opinion, is building and loan associations. They are gotten up in most attractive forms to catch the monthly savings of thrifty people with moderate incomes. I know there are some of these in the older parts of the country that are apparently successful, but my experience of them in the West leads me to consider them as, on the whole, almost the easiest concerns to get your money into and the hardest to get it out of that I know. Their plans seem so simple that anyone can understand them; nevertheless, one of my friends in Chicago, who is a thorough accountant, lost the savings of years in a building and loan association of which he himself was the annual auditor.

Farm Mortgages

On the other hand, farm mortgages are one of the best real-estate investments. Swindlers have not been unknown along this line, but I believe the results to investors have been as satisfactory as in any line of investments. As in all others, prudence and common-sense must be exercised; but there are many corporations and firms of high standing engaged in the farm-mortgage business, and by dealing only with such, and avoiding certain states where the laws seem to have been made for the debtors, a safe and fairly remunerative investment in farm mortgages is easily obtained. On the whole, investors should remember that to invest safely and satisfactorily in real-estate securities requires more knowledge of business, more experience, and better judgment than to invest in almost anything else.