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Consider John Jacob Astor...

"In 1804, John Jacob Astor purchased from Aaron Burr what remained of a ninety-nine year lease on property in Manhattan. At the time, Burr was serving as vice president under Thomas Jefferson and desperately needed the purchase price of $62,500. The lease was to run until May 1, 1806. Astor began subdividing the land into nearly 250 lots and subleased them. His conditions were that the tenant could do whatever they wish with the lots for twenty-one years, after which they must renew the lease or Astor would take back the lot.

In the 1830s, Astor foresaw that the next big boom would be the build-up of New York, which would soon emerge as one of the world's greatest cities. Astor withdrew from his other ventures, and used the money to buy and develop large tracts of Manhattan real estate. Predicting the rapid growth northward on Manhattan Island, Astor purchased more and more land out beyond the current city limits. Astor rarely built on his land, and instead let others pay rent to use it." Wikipedia.org

"If I could live all over again, I would buy every square inch of Manhattan."

- John Jacob Astor

If you had the opportunity to invest in Manhattan when it was simply farm land, would you have? The real question is how many investments are really out there that are similar to Manhattan in the 1800's? When Mr. Astor purchased his land, Manhattan was far from being in high demand. With this in mind, next time you are on the outskirts of a town, you should ask yourself "In 10 years could a major mall be built on that vacant land?"..."Could a suburb extend out here and produce a thousand homes in 20 years?"

At this point in time, no one has the answers. However, it's feasible to believe that the billionaire family of John Astor living in New York City today would agree the investment paid out rather well.