PLAN No. 301. SALES MANAGER BECOMES REALTY OWNER
The sales manager for a large Chicago concern was married, had three children, and was getting further and further behind every year, with debts that constantly increased. Then the wife thought out a plan that she hoped would bring a betterment in conditions, and decided to make it win.
She began by selling their grand piano for $800 and buying a second-hand up-right for $185. Then she sold her buffet, china closet, two extra bedroom suites, four good rugs, several sets of silverware, some china, cut-glass, pictures, etc., at private sale, and from these she received $720 more.
Out of her total receipts, she paid the family debts and had $640 left. She paid $300 for a lot in the outskirts of the city; $54 for enough second-hand lumber to build a shack 20x40 in size, she and her husband putting up the building and putting in a cement floor, and lining the building with tar paper. They divided the shack into four rooms with straw matting for partitions, bought second-hand windows at $1 each, and made their own doors. Then they placed rugs on all the floors except the kitchen and moved in, thus saving $40 a month in rent.
They still had $200 in the bank, and out of this she paid $40 for putting down a well, then she gave piano lessons to country children, at 50 cents an hour, and earned $20 a month that way. She set up her grandmother’s old loom and wove rag rugs until she had earned $700 that way, and at the end of three years they had $3,000 in the bank, had raised the house, put in a foundation, dug a cellar and built two porches.
In two years more they were another $2,000 ahead, so her husband resigned his position and they began buying vacant lots at $250 to $400 each, bought old houses “for a song,” tore them down, and with the material built several tiny new bungalows. The husband did the carpenter work, she did the interior decorating work and the children helped a good deal. When a bungalow was finished, they readily sold it for from $1,700 to $2,200 and made a nice profit on each.
To-day they are living in a modern 9-room bungalow, and own twenty-seven vacant lots besides, all paid for, and have an income of $4,000 a year.