Podcasts about inner city rentals

Al Williamson is a Civil Engineer by education but creating surprisingly beautiful affordable housing is his passion. It took me many years for Al to figure out how to create enough side income to cover the monthly mortgage of his apartment buildings but he learned many valuable lessons along the way. He publishes his best practices on his weekly blog i.e. "Leading Landlord" that focusses on innovative ways landlords can create new income streams, reduce expenses, and grow their equity. He is also the author of popular books "Building Wealth with Inner City Rentals" and "40 Ways to Increase the Net Income of Your Rental Property". He joins us today to share his valuable experiences in his real estate journey.

Real estate investors are cautious when it comes to implementing a short-term rental (STR) strategy because of the regulatory uncertainty in the space and the extra expense of hotel taxes. But what if we could enjoy the benefits of an Airbnb model WITHOUT the uncertainty or the extra expense? Al Williamson leverages an extended-stay strategy targeted at business travelers to 10X his net income on a small multifamily property. Al is a full-time real estate investor and Managing Partner of Easy Corporate Housing, an extended-stay STR housing solution for business travelers in Sacramento, California. He also serves as a speaker, author and mentor for investors through Leading Landlord, a platform designed to help landlords increase their income and equity. Al has developed creative strategies for growing NOI as much as 10X above a conventional landlord operation, and he shares those tactics in his books, Building Wealth with Inner City Rentals and 40 Ways to Increase the Net Income of Your Rental Property. Today, Al joins me to explain how he quit his job as a civil engineer with the cashflow from an 8-unit property in an inner-city neighborhood. He describes how he went about fixing the neighborhood and discusses what inspired him to experiment with a short-term rental strategy. Al also shares how to determine your target market and walks us through the six types of extended stay customers. Listen in for insight around the benefits of offering 30-day stays and learn how to identify an ideal property for the extended-stay STR model!    Key Takeaways How Al quit his job with an 8-unit class D property Reposition inner city neighborhood Leverage pay-day rent schedule Rent bicycles, coordinate internet How Al got started investing in real estate Started with house hack (3-unit building) Maintenance costs eating up cashflow Why Al purchased the 8-unit class D property Value of 3-unit quadrupled, ‘let’s do it again’ Remove blight (gangs, guns and prostitution) How Al went about fixing the neighborhood Exercise leadership + create sense of community Easy as calling in broken streetlights, parties Offer cash for keys as necessary What inspired Al to try a short-term rental strategy Travel for work himself, hated hotels Net income = 8 to 10X traditional model How Al implemented a short-term rental strategy Set aside single unit for business travelers Realized benefits of one-month threshold The best areas for an extended-stay, STR strategy Near Extended Stay America, Residence Inn Use Airbnb as backup plan Al’s advice for determining your target market List on Airbnb and see who comes Build relationships with local businesses The top 6 types of extended-stay customers Vacation travelers Medical Military Student housing Insurance Temporary Why Al only needs a few units to be successful Huge income per unit ($1800/month) Single unit covers cost of mortgage The ideal property for an extended-stay STR Margin far above market rent Furnish according to target guest Connect with Al Extended Stay Landlord Leading Landlord Al on BiggerPockets Al on LinkedIn Resources Mr. Landlord Building Wealth with Inner City Rentals: Success the Catalytic Landlord Way by Al Williamson 40 Ways to Increase the Net Income of Your Rental Property by Al Williamson Tim Hubbard on ABI EP111 Michael’s Mentorship Program Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Apartment Investor Network Facebook Group Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

He was a Civil Engineer who wanted to be in real estate. So he went right out and bought a multi-family in one of the toughest neighborhoods in town, on a street filled with drug dealers, crime, and decay. But he turned his building around. Then used his influence to turn the street around. All without the use of force, without confrontation, and with dramatically positive results. You have to hear the story today of Al Williams. He’s the author of two books, “40 Ways to Increase the Net Income of Your Rental Property.” Paperback $18.97 and Building Wealth with Inner City Rentals, paperback $16.97. Both available on Amazon.    Al practices what he calls landlord leadership in Oak Park, an inner city suburb in the middle of Sacramento, California. See the show notes and you will be able to contact.    (You can reach Al at: P.O. Box 188491, Sacramento, CA 95818, al@leadinglandlord.com)   Also coming up, Vacancies in single family homes are near an all time high, but demand for multi-family is skyrocketing. Millenials are buying homes to a degree, but many are preferring rentals.    Also in the news, mortgage rates moved - which way? I’ll tell you in a minute and you might find it funny. I did. In other news, Zillow and Compassed have kissed and made up. Their mutual lawsuit has been settled.    And investors are moving up in the world. Since I’ve been paying attention real estate investors have accounted for about 5% of home purchases every year. Last year the number was very different - I’ll tell you how different and offer a couple of reasons why.  How to contact us www.RogerBlankenship.com Facebook.com/flippingamericamedia Twitter and Instagram @FlippingAmerica Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.  Email your questions to questions@rogerblankenship.com. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind.  Guest: Al Williamson He has a mind for making money and a heart for making cities a better place to live.  Book: “40 Ways to Increase the Net Income of Your Rental Property.” Paperback $18.97 Book: “Building Wealth with Inner City Rentals,” paperback $16.97.  Both books are free if you are a Kindle Unlimited member.    Leadinglandlord.com   Announcements: Lunch with me every Wednesday. Baraonda My latest article in Forbes is out. bit.ly/findredeals. The FAN is here! Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That’s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.  Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think. Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.   News: https://www.cnbc.com/video/2019/07/19/vacancies-remain-at-epidemic-levels-in-some-us-cities-axios-managing-editor.html https://www.cnbc.com/2019/07/08/rental-demand-soars-as-more-millennials-say-its-cheaper-than-owning-home.html https://www.realtor.com/news/real-estate-news/investors-are-buying-more-of-the-u-s-housing-market-than-ever-before/ up around 11% last year. Historically 5%. https://www.realtor.com/news/real-estate-news/mortgage-rates-are-moving-sideways-will-they-fall-from-here/ Hilarious non-headline. Is that another way of saying they stayed the same? (Hint: yes). Seriously tho - they may be about to come down and they are already lower than we projected. I’m man enough to admit when I missed a called. Previously I had predicted rates would reach 5% this year. I was wrong. They might get below 3.5% which is staggering to me.  Don’t buy the Facebook Libra coins. Just don’t. They don’t come out until sometime next year but fake sites are selling them already.  https://www.pcmag.com/news/369699/watch-out-for-libra-scams-claiming-you-can-buy-the-cryptocur?utm_source=email&utm_campaign=whatsnewnow&utm_medium=title Your Questions: Send emails to questions@rogerblankenship.com MaryAnn, Morgantown, WV, “I am having trouble getting a hard money loan or a private money loan because I have no experience. Please tell me what I can do.” Sidney, Lancaster, PA, “I can buy a duplex that will bring 1500/month in rents for $150,000 or I can buy a single family for $120,000 that will bring 1200/month. They both seem to be the same in terms of the return. The duplex seems like more work. What are some other things I need to be thinking about to decide which? Comment Line calls and Questions Call 404-369-1018, press 1 and leave your message! Motivational Thoughts for the day   “Opportunity is missed by most people because it is dressed up in overalls and looks like work.” - Thomas Edison  

Buy in an improving area, manage well and watch your value increase. Seems obvious right? Right. But today’s Best Ever guest shares with you a major wrinkle to this plan that can help you increase your property value even more…and faster. Al Williamson’s real estate background: –        Been a landlord since 1996 –        Owner of two homes, one apartment building and one commercial building –        Author of Building Wealth with Inner City Rentals –        Visit him at

Buy in an improving area, manage well and watch your value increase. Seems obvious right? Right. But today’s Best Ever guest shares with you a major wrinkle to this plan that can help you increase your property value even more…and faster.  Tweetable quote: Is it possible? Yes, so let’s get to work.   Al Williamson’s real estate background: -        Been a landlord since 1996 -        Owner of two homes, one apartment building and one commercial building -        Author of Building Wealth with Inner City Rentals -        Visit him at   Subscribe in  and  so you don't miss an episode!     Sponsored by: Door Devil – visit    and enter "bestever" to get an exclusive 20% discount on your purchase. 

Building Wealth with Inner City Rentals

Building Wealth with Inner City Rentals