8: Learning to Be a Profitable but Ethical Landlord with Al Williamson

Being a Landlord can often be challenging, expensive, and stressful. So, today on the BiggerPockets Podcast we are speaking with Al Williamson, an active BiggerPockets member and inner-city landlord who has decades of experience dealing with tenants in both multifamily and single family rentals. Al is a pro at reducing expenses, increasing income, and dealing with difficult landlording situations – which is why we wanted to sit down with Al today. Before we get to the show, thank you again to everyone who has subscribed in iTunes to help make us one of the top business podcasts in all of iTunes! We’re up to 117 5-Star Reviews so far! Every subscription in iTunes and every review helps us reach more people – so thank you! Read the transcript of episode 08 with Al Williamson here. In Today’s Podcast, We Cover:How Al used a 1031-Exchange to “Trade-Up” to a larger property.Tips for living in a small multifamily and living with tenants.How to avoid being a slumlord in rough areas.Why simply picking up trash can transform your investing.The power of “Patient Equity.”Al’s goal of Not being dependent on the tenants’ rent to pay the bills.Ideas for both increasing income and cutting expenses.Al’s plan to revolutionize income for multifamily properties.How Al used a very small syndication to buy a rental propertyThe biggest challenges for an up-and-coming landlord.What the “Landlord Lid” is – and how to overcome it.How to Invest in Real Estate when you have a full time job AND a busy family life at homeLinks From the Show:[Video] How I Quickly Analyze an Investment PropertyThe BiggerPockets BlogThe BiggerPockets ForumAl’s BiggerPockets Member Blog1031-Exchange ResourcesKickStarter.comBP Podcast Show 3 with Brian BurkeThe National Night OutInsanityP90XBooks Mentioned in the ShowRich Dad Poor DadThe 36 Hour Real Estate Investing CourseJohn MaxwellAl’s Book The Catalytic Landlord – on KindleSerious Creativity by Edward De BonoTweetable Topics:“Landlord tip for improving the neighborhood: Go and meet the neighbors!” (Tweet This!)“Often times things go unresolved because no one is operating as a leader. Are you?” (Tweet This!)“Spend time getting really good with your first investment before branching out.” (Tweet This!)“Sometimes you have to pay your ‘learning tuition’ and lose money when you take risks.” (Tweet This!)“Your real estate investment should be a physical representation of you.” (Tweet This!)“Why are you building wealth? The most successful leaders KNOW this answer.” (Tweet This!)About Al AL Williamson is Civil Engineer and landlord from the Sacramento, California area. Al has invested in real estate since 1996, focusing mostly on multifamily properties in urban areas.Al’s BiggerPockets ProfileAl’s G+ and FacebookAl’s Blog: LeadingLandlord.com