Jul 26, 2019
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.
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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
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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?
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Motivational Thoughts for the day
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“Opportunity is missed by most people because it is dressed up in overalls and looks like work.” - Thomas Edison