Jut-chinned Leo Corrigan, 57-year-old Dallas real-estate
operator, estimates he now controls property holdings worth
half a billion dollars. He isn't quite sure, the total may be
half a million over or under!
One thing he is sure of: On January i, 1952 his holdings
were at least $100,000,000 greater in valuation than they were
the last New Year's Day.
That's remarkable progress for a man who at the age of
17 rode a day coach into Dallas with a couple of dollars in
his pocket and a meager wardrobe in his valise.
Corrigan moves with the speed of a comet when he feels
a real estate deal is "ripe." He knows with amazing accuracy
what the property is worth, what it will bring in income
then lets an independent appraisal agency confirm his judg-
ment. He lives by time proven tricks of the trade and here
are two that he speaks of openly:
1. Buy your property clear, then borrow on it to buy
another property; take the income from the two and
pay off your debt.
2. Develop vacant property. Don't hold on to it waiting
for the future to make it better. Make it better yourself.
Success, instead of mellowing this dynamic dealer in
economic futures, has merely made him all the more aggres-
sive.
As a tip to anyone who is thinking about "dabbling" in
real estate, Mr. Corrigan has this to say, "Every property
has its worth and its purpose. The trick is to establish its
worth and find its right purpose. There is no end to the
opportunities."
