When you think about investing in inner city neighborhoods, what are your first thoughts?
I’m in — or no way?
I’m pretty sure for most real estate investors the answer is “no way”. Investing in property located in inner city neighborhoods has always been characterized as being risky.
- They are hard to manage
- Tenants in those neighborhoods don’t take care of the property
- You have to chase folks down to get the rent before they spend the money on ….
- The crime rates are high
But what if you had a chance to create lasting change in those inner city neighborhoods; change that could have a profound effect on the folks that live there? What if you could be a “catalytic landlord”?
In today’s podcast on “Let’s Talk Real Estate Investing” my guest is fellow real estate investor Al Williamson from Sacramento, CA.
I first met Al some time ago through BiggerPockets which as most of you know is a site for real estate investors. I might point out that this site is a great place to meet and network with other real estate investors.
The one thing that I have learned is that Al is very passionate about his work in inner city neighborhoods. He has also written a book on the subject called the “Building Wealth with Inner City Neighborhoods” and we are going to talk about that too. I believe that this post will enlighten you on the possibilities of a different type of real estate investing than you may have thought was possible for you. And let’s face it; there is no shortage of deeply discounted properties in those areas. So dive in and listen with an open mind. I promise you will learn something.
Some of the things we cover in this podcast are:
- How this engineer got started investing in inner city neighborhoods
- How Al’s first three-plex and those particular tenants changed everything about what he thought was possible with inner city investing
- Why he continues to invest in inner city neighborhoods
- How his work with a non-profit called “St. HOPE” solidified the path he is on today
- What exactly a “Catalytic Landlord” is
- How landlords in troubled neighborhoods can increase their cash flow, property values and the quality of the applicant by leading a campaign to improve the orderliness of the community surroundings their property. (Now that is a mouthful)
- Why you just might change your viewpoint on investing in inner city neighborhoods
About Al’s book “Building Wealth with Inner City Rentals”
This book is a road map of how exactly anyone can invest in a re-development zone to improve the area and these inner city neighborhoods. It’s lays out a plan for how anyone can make a difference in their own community.
To learn more about this book and how to become a “Catalytic Landlord” head on over to Al’s site at the link below.
Click here for more information.
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