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March 7 2023

1h 6 minutes

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Appreciating Asset
Management With Omar Khan

About this podcast

Omar Khan is the Founder and CEO of Boardwalk Wealth, and he’s talking to us today on Real Estate Investing for Medical Professionals about asset management – one of the most overlooked, undervalued components of property syndication.

Omar has advised on $3.7 billion in capital financing. His investment experience across real estate and commodities shines through in this insightful conversation with Viking Capital’s Colm McEvilly as he expresses the importance of understanding the fundamentals of asset management and seeing tenants as satisfied residents of a community.

Nuance is critical to Omar’s understanding of asset management as he explains why it’s not just one key metric that needs consideration when weighing up the pros and cons of any deal. For example, is it worth pushing up the price of parking on your property if that causes a 20% decrease in occupancy? How you weigh the little things up against each other and how you pay the people you work with well – and treat them with respect – are all covered by Omar in this episode. 

More importantly, he illuminates our understanding of what asset management is by asking us to reflect on what we consider assets to begin with. This is a masterclass in human relations with some practical tips on seeing your property as a valuable asset that needs to be managed with clinical oversight and attention to detail.

Connect with Omar Khan:

Connect with Ravi Gupta:

“Banish – literally banish – the word ‘tenant’ from your vocabulary.” ~ Omar Khan

Omar Khan

Boardwalk Wealth

Founder and CEO

Key takeaways

  • Why investors need to know how the sausage is made
  • Understanding the core fundamentals of investing and asset management
  • Why it pays to hold onto assets nine times out of ten
  • The value in creating a community of satisfied residents
  • Why it's important to pay people properly in property management
  • The importance of understanding nuance when it comes to asset management
  • What is the long-term consequence if you DON'T do something for your property?
  • Asking yourself 'Why?' three or four times to get to the root cause of an issue
  • Omar's Top 5 Rules
  • Building strong relationships leads to having a stellar reputation
  • Why teamwork makes the dream work
  • Manage your Capex like your hair is on fire!
  • Appreciating that the work you do is a "for profit" exercise
  • Omar shares his dashboard spreadsheet data 'quilt'
  • Rebranding your property if it only has three stars on Google Reviews
  • Why your 'rent roll' is a key to success
  • Why renovations are a proven, value-add process
  • Sioux Falls, Brighton Farms, and Lakewood Oaks property management case studies

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Join Viking Capital as they dive into the world of multifamily real estate. Each episode features successful industry experts sharing their insights and strategies for building wealth through smart real estate investments. Don’t miss out on valuable tips and advice to help you secure your financial future. Subscribe now to never miss an episode of Viking Capital’s Real Estate Investing For Medical Professionals podcast.

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