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.

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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 property
• The 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 home

Links From the Show:

• [Video] How I Quickly Analyze an Investment Property
• The BiggerPockets Blog
• The BiggerPockets Forum
• Al’s BiggerPockets Member Blog
• 1031-Exchange Resources
• KickStarter.com
• BP Podcast Show 3 with Brian Burke
• The National Night Out
• Insanity
• P90X

Books Mentioned in the Show

• Rich Dad Poor Dad
• The 36 Hour Real Estate Investing Course
• John Maxwell
• Al’s Book The Catalytic Landlord – on Kindle
• Serious Creativity by Edward De Bono

Tweetable 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 Profile
• Al’s G+ and Facebook
• Al’s Blog: LeadingLandlord.com

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