YOUR DAILY REAL ESTATE INVESTMENT SHOW
May 13, 2022

Wise Real Estate Investments with Omar Khan

“How much can we stretch our dollar in the shortest possible time to get the maximum possible returns?”   In this Cash Flow Pro episode, we sit down with Omar Khan, the Founder and Principal Manager of Boardwalk Wealth. Omar grew up in a...


“How much can we stretch our dollar in the shortest possible time to get the maximum possible returns?”

 

In this Cash Flow Pro episode, we sit down with Omar Khan, the Founder and Principal Manager of Boardwalk Wealth. Omar grew up in a family with experience in commercial real estate and eventually started to get involved in multifamily acquisitions and development. Today, he focuses on developing multifamily units in Texas, Georgia, and Florida. He is here to help us understand his next investment steps and why they will help him and YOU navigate and succeed even in unprecedented times. 

 

Boardwalk Wealth is a private equity firm that connects passive investors to multifamily real estate opportunities with value-add potential. The firm focuses on demographics and supply/demand in strategic areas in Texas, Florida, and Georgia. The end goal is to increase the investment value of the Class A and B acquisitions through renovations while maximizing returns to investors and providing residents with quality living.

 

In this episode, we discuss:

  • Different types of commercial real estate investments 
  • Investing wisely to ensure success even when unexpected circumstances arise 
  • The importance of choosing the right team and property management 

 

Tune in and hear what Omar says about wise investments that have helped his family create generational wealth for the past 60+ years! 

 

Find your flow, 

Casey Brown

 

Resources mentioned in this podcast:

  1. https://www.boardwalkwealth.com/
  2. https://www.linkedin.com/in/omark1/
Transcript

Casey Brown  0:06  
Hey there, and welcome to today's episode of cash flow Pro, your investment podcast and channel. I want to welcome a warm welcome to Mr. Omar Khan. And I had to make sure I got this right boardwalk wealth. There's a lot of W's and a lot of A's in there, but boardwalk wealth. And he is coming to us from Oklahoma. Ah, the big state of Oklahoma. Omar, thanks for being with us today, sir. How are you?

Unknown Speaker  0:40  
Not too bad. Thank you for that warm welcome. Really appreciate it.

Casey Brown  0:44  
To get loud, I got great a birthday party to make sure that everybody's awake. So. So anyway, on the show, we usually try to dig into where people were when they realized that real estate was kind of their thing, where, you know, what kind of life events led up to you saying, Man, I want to do this? And then how did that look? When you finally showed up on the doorstep of saying I want to invest in real estate, I want to operate real estate, I think you said you all were owner operators. So what what did that look like? So tell us a little bit about your backstory and how you got headed where you are. Now, look.

Unknown Speaker  1:21  
So my backstory is filled with a lot of good fortune and good luck, right? In the sense that my family is a business family. So you know, we've owned businesses, past three, unlike maybe the third or fourth generation, where what happened is basically they owned businesses in multiple areas. But a lot of the money over a period of time, you know, especially as it gets passed from one generation to the other was basically parked in commercial real estate and by commercial real estate, I mean like Class A retail shopping centers, no houses rental. And now I realize that a lot of people actually go through the house, and then you know, they they go to the Hey, buy a house, buy a duplex, that sort of stuff. My family, I'm sure somebody in the past had gone through that. But by the time that I was around, and I started seeing this as a child, you know that a lot of our family wealth was tied into commercial real estate and not as sponsors or anything, just as you know, you have your money, you buy something, and then you hold on to it. In fact, we're looking to sell one of our assets now. And it's going to be the third generation has owned it, it's going to be selling after 6070 years of ownership, right. So the idea there was that I had an exposure to this thing, right? Not necessarily like I was never thinking of doing this, but I had the exposure of hey, you know, people park their money here. There's a lot of long term advantages, but there's lots of tax advantages. So I knew that and I was very lucky to know that right? Yeah. And in my case, would we'd seen in our own family was man, we had made every boneheaded decision you could make as a family in business, every stupid dumb thing you can think about, we've probably done it at some time. Right? But what had really kept her head above the water. And again, we're very grateful and privileged for that thing was the fact that we had wisely invested our money, we always stayed below our means, right? kept investing the money. So even though we made a lot of screw ups, because we wisely invested our money stayed below our means. It wasn't as bad. You know, there's all this good times and bad times when you have a business, right? But you just kind of plunk through them.

Casey Brown  3:13  
When those little differences in mistakes, maybe reduce profit, but they're still profit. You know, that's, that's the difference. But it's when those mistakes take from take all the profit, and then some of the some of what was done what was supposed to be, you know, whatever, that's when, that's when they tend to combine or compile and reduce. So I want to I want to step timeout real quick, I want to step back to the asset that's been three generations 60 or 70 years of ownership. Of course, with each generation, if there was a death, then of course, you know, the bases would step up and not necessarily become a taxable event, I guess, depending on the overall value. But but so the business family and you all own the real estate and something like that's been in the Giner been in the family that long? What was what is the reason for selling that asset?

Unknown Speaker  4:11  
The reason is very simple. Look, first of all, number one, I'm from Pakistan. So that asset is impossible. We've had assets in Pakistan and Dubai in Canada, right? Because I've lived in all these places, right? So that asset is going to be sold, because first of all, all the kids are out, right? So as the kids as in my generation, right? For my dad's side, my brother lives in Sydney, Australia. My sister lives in the Bay Area, and I'm in Oklahoma, so all the kids are out. So it's not like, you know, somebody's just gonna, somebody lives there.

Casey Brown  4:39  
I didn't realize it was over. I didn't realize that, yes, it was located.

Unknown Speaker  4:43  
But the bigger thing also is it's it's a very lucrative has been a very lucrative play for us. I mean, we're each going to net out in the family trust region and a significant amount of money for that. But the big thing there is that it has less to do with say our intelligence here and cheer on like, oh my god, we came up with some brilliant idea. It just has more to do with the fact that when you live below your means and you invest wisely, right, and then you don't try to skim off the top all the time, right? And you're conservatively just chugging along. Good things happen over a period of time. Yep. Yeah, right. That was a bigger principle.

Casey Brown  5:18  
So how I want to a real quick, I guess this is this is just just an intriguing subject to myself, because I actually have had and known some people in Pakistan and Pakistan. And and they are, first of all, the first thing that I figured out was our news media has done. Just they should they should all be lined up and put out of business for creating all of the the fear of Pakistan in general. The people that I know over, there are lovely people, they're just like me, they get up every day and go to work. There's real estate. Some of

Unknown Speaker  5:57  
us don't go to work, because we've done really well for ourselves. You know, it's not all sunshine and rainbows.

Casey Brown  6:05  
Absolutely. And you know, we'd

Unknown Speaker  6:08  
love to sit and do nothing at all.

Casey Brown  6:10  
That's right. That's right. So so what is it a commercial property? Oh, yeah. It's what is there? Is there a family left there? That's that's been managed? Or how is

Unknown Speaker  6:23  
my parents? Look, my parents went, my dad went to school at Berkeley. We travel all the time, right. So we growing up, we extensively traveled, we were very lucky for that, right? Yeah. But now, my parents are here, for instance, for some portion of the year, they understand for another portion of the year because again, the thing is, I don't think they can ever move. Because the reason is, they're very social, right? Yeah. So they've got the whole social circle. They've got their own set of like, weddings and bar, but what all that sort of stuff that goes on here. Yeah, for them. It's very hard to move in a very social family otherwise, as well, right? We like to meet people hang out, do all that stuff. So when you have a social circle, it's hard, man. They can never move. They can travel, which they do all the time. They're never gonna move.

Casey Brown  7:07  
Yeah, yeah. All right. So so again, you've

Unknown Speaker  7:12  
chosen why I decided to go to real estate, what had happened is I'd seen that I'm exposed to it right. So now I go to college. Again, I was very lucky. My father and my family generally got reasonably financially sophisticated, right. So again, had all that exposure on top of real estate, go to University of Toronto and Canada Graduate, and get a job in finance, get my CFA done. So I work in mergers and acquisitions. I did equity research, planning all of that. The whole idea was for like a decade plus I was putting together deals, parts of teams that put together deals, run them, operate them, all that sort of jazz, right? Yeah. Now when I moved down to the US, I think, early 2015 or so, because of a girl, I was biggest reason ever, I realized a lot of people apparently have moved to the US because of a girl.

Casey Brown  8:01  
Imagine somebody coming from as far as you came away from to move her. I guess it was Toronto to here, right? Or Toronto? It was

Unknown Speaker  8:07  
gallery because I went from Toronto to Calgary and old boss of mine pushed me I work in oil and gas had a phenomenal time. Loved it because oil and gas. I love oil and gas, right? Yeah, had a great time. But when I moved down here a few years after that, we were selling an acid in our family's portfolio. And everybody, all the kids were going to go their own way, right? Because it's just cleaner that way, right? I had, I had a gain on my side, right? And sure as hell, I didn't want to pay a dime of taxes on it. If I could show you'd have to get your head examined if you want to pay more taxes. Okay. So I again, based on my professional experiences now, right, because I was running social deals had a really good network. Right? And I had the technical experience. That's when I actively actually started thinking, Alright, I'm in the greatest country in the world. Yep, real estate is the national pastime, lots of tax benefits. And I have actually a tax problem a good one, right, I need to shout it from my gains. So that kind of got the ball rolling. But none of this would have happened. For instance, if I didn't have the family background, I didn't have the professional background and more importantly, most importantly, in fact, I couldn't have had all of that. But if I didn't live in the US none of this would have happened. None zero

Casey Brown  9:18  
it truly is the land of capital of capital gain really and and and again, yes, you're right. I am a person that has to pay taxes I mean, truthfully, there could be a worse problem because if you have to pay taxes you've obviously made something along the way and if you're trying to spending your time trying to find out where to shelter gains and stuff like that, then it's not it's not all bad. So when when you started down obviously your your path to real estate was kind of pre determined a little bit, I guess. And what what type of markets are you in right now? So we've got the obviously the family asset that oversees what markets

Unknown Speaker  10:00  
sort of new ethics there, right? We are a couple of things in Canada, which I've sold. Basically, I primarily work I start off in Texas, I still want to ask left, Texas, Georgia, Florida, I got a couple of developments in South Dakota. The big reason for this is I actually live in Toronto, I got a whole bunch of friends in the Bay Area. And on both sides of the coast in New York as well. I never looked, there's a lot of reasons you hear about the demographics, moving people moving all of that, for me, one of the biggest reasons was that I have seen my friends, when they're in any of these markets, the ones that I mentioned, the coastal markets and big cities. And if you're a resident doesn't pay you rent on time, you cannot even evict your resident for real reason, not not for some made up reason. And I for one, never in a million years wanted to be in that situation, maybe it's just a mental thing. Because I'm like, Look, if you can zoom, like, for instance, in my case, I can do my service, I pay for it. services and goods I cannot consume, or I can't afford, I can't afford a private jet. Don't go around trying to buy it right or don't, or don't bitch about the fact that I can't do it, right. So similarly, I never wanted to be in a position where the bank is always going to have their hand in my pocket, right? The bags that we're going to take their hand out of my pocket. And if I'm ever caught, where I can't even, you know, work through a situation with my resident who isn't paying and we got to figure something out. I just mentally just never wanted to be in that situation. There you go, that was a big impetuous for being in the markets that I'm in. Now, coincidentally, these markets happen to be very good markets, low taxes, relatively low cost of living people moving. So that obviously helps a lot.

Casey Brown  11:32  
It's almost it's almost workforce type stuff. I mean, you know, when you start thinking about that, that the demographic there where people do move, they move up, they move down, they, they move, you know, they move up, they retire, then they move down, kids move out, and so on down the line. But so, but of course, you're you're in commercial, I guess I'm I'm like talking to more more residential. But what types of

Unknown Speaker  11:54  
principles apply, though, hold on, very similar principles apply? It's like people have a life cycle, right? They go up for air, they go down the same, a lot of the same principles apply a lot of times.

Casey Brown  12:05  
Yeah. And a lot of times, I've often said, you know, commercial properties, pay bigger dividends, but they also go, the peaks are further apart, I guess, if you will, the peaks got a bigger Valley in between so far as the value goes, or the potential of rent or whatnot like that. So what types of commercial properties we talked about retail, we talking about? Like, what's the I'm

Unknown Speaker  12:29  
just doing so I'm doing multifamily acquisitions and development. So that's know the story there is that I looked at retail, so retail as like, like, it's gonna be a tough one. Because unless you develop it, right, it just the right parcel, everything hits and you make money. It's a lot of headache. And again, I'm trying to optimize for stability as well. Right. So hotels, or hospitality, I feel are great, but very cyclical. And they're also extremely intensive. So even if there's like 100 moving parts, and you screw up on you're done, right. So that's another thing. Also, the other thing was, I didn't want to go into another oil and gas play, because with hospitality when the going is good, it's really good. But when the going is bad, you can't catch a break to save your life. Right? That's right. So the big ticket items left after were self storage, industrial and multifamily self storage, to be very honest with you, I didn't for whatever reason, looked at it very deeply that I'm not saying it's good or bad. I just didn't do it. Industrial. Sometimes I kick myself for not doing it because that's one vertical that's even harder than multifamily. But in terms of scale, in terms of tax benefits, cash appreciation, multifamily had the right level of combinations, at least for me, right. But again, the intention was for all this encasing from day one has been Hey, where can our dollar stretch the longest? Or? Well, yeah. I mean, other business, we go invest in that business, because I want other businesses as well.

Casey Brown  13:50  
Yeah. What's the biggest return biggest bang for the buck? I mean, that's, that's, that's, I mean, this thing goes, well, you know, when you figure it out, you sit down, you figure out where it returns. But, you know, you made a point there hospitality? And of course, we all know through COVID What

Unknown Speaker  14:05  
I didn't know COVID is gonna happen. I'd be a really rich person if I knew what was gonna happen.

Casey Brown  14:10  
Yeah, because that just just nailed a lot of hospitality. I know. You know, we were in Denver a couple weeks ago, at about a couple months ago now, I guess. And there's literally like four corners. You've got four, four corner intersection and you've got a hotel on each corner. I mean, it was I just have never seen a play so saturated with hotels, motels. And of course, they've got some huge multifamily development stuff going on out there as well. So I don't mean to just just give Denver the plug but I'm just saying that, you know, you've got one sector that's hot that's going up, you've got multifamily that's rockin and rollin and then you got hospitality where there was one every quarter and it was going down. So you know, how does that how does that kind of balance that whole those whole cat all those capital funds out? And of course, you know We would like to think that whoever's in one is diversified across the others. But nevertheless, you know, and that's an interesting, interesting that you said you self storage was just something you just didn't even look at and for knowing

Unknown Speaker  15:14  
this was just because look, it's like, you know, don't do they still have the SCT exams? Still? Yeah,

Casey Brown  15:21  
I think they're getting a little less.

Unknown Speaker  15:23  
I don't know, you know, at least when I was given the A CT exam, what a lot of times when you didn't know the answer, and you didn't want to be you kind of knew the answer, but not really, and you didn't want to be penalized at 1/3 of them. Yeah, so you just go process of elimination, right? So that's what I was doing process of?

Casey Brown  15:39  
Well, and I'm not, I'm not disagreeing with the fact that going really deep on one, one vertical, is better than being than being fragmented across several. And that's even though that the same could even be said, for the industrial, you know, you said, I missed out on the industrial Well, industrial is one of those things where the peaks are really high, but they're, they're further apart than anybody could even you know, then you could even imagine

Unknown Speaker  16:09  
seeing this now, knowing what I know, not knowing what

Casey Brown  16:13  
we are, we should because the thing is, is that the industry, and industrial buildings and industrial found, you know, foundation type stuff, when who knows what's going to happen with the American job, because the American job at the end of the day, that job creates that industry, the demand for that industrial space, it creates the income for that. So jobs is really where it's all rooted, and it's all cyclical, you know, to say, somebody missed in the industrial run up, like, I mean, I did too, but the end and it just didn't make any sense. Because the risk reward wasn't really there. You know, you had you have something come in, and something COVID For instance, happened. And, and although people want to, there's a lot of people that complain, but I'll tell you COVID Was Was has, I don't know that anybody's really had a superior like bad day during COVID. Other than of course, if you lost a loved one or whatnot, but I'm talking about business wise, business wise, I don't know that there's in you know, in capital raisers and investors, you know, you had an investor a 10% return, and they're like, Why didn't it make 12? of my life? Yeah. And so I'm like, Okay, so these people are never gonna be happy anyway. And here we are. COVID They're like, well, we only got 6% return on our money. Well, you know, listen, there's, you could have been much worse, we could have gotta have Haven't you lost 6%. And so that's just human nature. Human nature in general is us saying, Hey, why didn't it do better? Why didn't it do more? And that's and again, from a capital raiser standpoint, it's just like, I used to do with my dad, just throw my hat on the ground and walk away. I can't do anything with you. You know, and so, um, so it sounds like a lot of

Unknown Speaker  18:05  
people's dads by the way, Casey just

Casey Brown  18:06  
died. Okay. Well, I'm glad no, not the only one.

Unknown Speaker  18:10  
Not the only one, please. There's two of us. And that can't That's

Casey Brown  18:13  
right. That's right. So so, so these these these multifamily acquisitions, and you you named South Dakota, Florida, go go back through those states,

Unknown Speaker  18:23  
where I do all my developments. I've got a really good partner. We did $100 million plus in acquisitions. In the southeast we I mean, actually, I was hanging out with him in Atlanta yesterday, because we've been on the project under contract Dustin. So he's a prolific developer in South Dakota. Sioux Falls has been one of those under the radar markets where institutional money hasn't gone. So to give you an idea of how skewed the supplies in that market is downtown Sioux Falls, two bedroom apartment two by two is like maybe 13 1400 square feet and most they are renting for between 30 340 $300 a month. Yeah. Yeah, I'm looking at a product in Dallas for less money.

Casey Brown  19:01  
Wow, Sioux Falls. And I mean, he I don't know if any people been North South Dakota. But I mean, it's

Unknown Speaker  19:06  
the fact of the matter is relatively look, it's an athlete, relatively speaking for the Midwest and generally for the country. It's an affluent place. saving rates is typically much higher than the country. It's a reasonably diversified economy. It stayed above the national average for the past. God knows how many decades and because big money hasn't flowed in the area. So you don't have like a glut of supply hitting you every like five years.

Casey Brown  19:31  
Well, you can right now, if it wasn't

Unknown Speaker  19:34  
what we really hope it comes in about two more years. So then we'll have all our like 500 units develop LM cash out.

Casey Brown  19:43  
Then you'll be on that private jet. Right. All right, so we've got the development part of it. Now let's talk multifamily. Where are those assets located?

Unknown Speaker  19:55  
By the way development is multifamily but the acquisitions are Texas, Georgia and Florida with the big focus on Georgia and Florida.

Casey Brown  20:02  
Awesome. Any particular parts of Florida because I know that some are some are hotter than others, I guess. But it's all pretty hot. Right?

Unknown Speaker  20:08  
I it's between Jacksonville and Orlando right now, I'd love to get, I'd like to get a good deal in Iran on that coast to Tampa and Sarasota coast. But I think it's phenomenal. Yeah, but there's only so many hours in the day, right?

Casey Brown  20:20  
So that's right. And then at the end of the day, you know, if you got good investments that are making good money, you definitely don't want to move, move from one to another, just for a parallel or for you know, you don't want to make a parallel or not a parallel, but you don't want to make a move. That's just sideways. I mean, that doesn't make any sense. So, but and and you have, I guess, assume, I assume you have, because we had a property manager on the show not long ago. And, and we were talking about managing these assets around and I said, Do you have a property manager at each location like, like a different

Unknown Speaker  20:53  
kind of nerd until 20 150? unit plus properties? Right? Awesome. These are all girls that look, we are very hands on managers, right? internally as operations team. But at the end of the day, if you don't put good people on your property to do the property management, because they have your face on a day to day basis, if you don't have these people, like across like the six, eight acids we have are like about 12 1300 units right now. Right? So, and we sold about, I think, 500, or 600, whatever it is. So the point is, if you don't have good day to day representation, it's going to really make your life hard. And by the way, that's what we look at, because a lot of times I go to the Properties, and I'm doing even if I'm touring the properties, I really make it a point to see like, not just hey, is the property manager answering my questions. But what is the body language of the property manager is he or she presenting themselves appropriately, right? Because a lot of times, that can also tell you there's some meat on the bone because of the property manager doesn't take care of simple stuff. Like, you know, the outsides aren't clean, you know, basic stuff, it's not clean, there's a lot of dots. Collections are kind of where, you know, things aren't being taken care of that, in and of itself can tell you so much more than more just spreadsheets can tell you.

Casey Brown  22:03  
Well, yeah. And then that's exactly you know, as I think I told you before the show started, we're a fund of funds. So one of the big things that when we vet an operator, and we decided that, hey, we're gonna go, we're gonna go pursue being in a deal with him or her. And you, you want to basically see quality of life things, you know, what I'm saying quality of life for the tenant things like you said, because ultimately, if if there's weeds growing around that aren't being maintained, you know, that doesn't say a lot. Because what, it's not going to cost you a lot to fix that part. But if that stuff is going on, what else is going on? We had a guy on the show not long ago, as well is talking about that everything was great. This they had a contract on this deal. Everything was moving forward. And in due diligence, they ran a they ran a scope into the sewer. Found Yeah, and found that that the only thing that was new and modern was basically the part you could see above the ground. Everything else was gonna be I think he said $350,000 fix. And yeah, I mean, and that that'll that'll step on your toe pretty hard. I mean, that'll that puts that money right there, man. Yeah, that's a pretty big squash on and you got investors that are all standing around, looking at you saying, Well, what what in the world do we do now? Well, what do you do? So what I'm getting at is, is those little things that you're talking about, can lead to big things. And the little things, the little nuance things that are that are about the property, you can live with that stuff, the stuff where you have to put something somewhere because something else is here in the way, whatever. But the stuff that can't that can be handled and handled fairly easily. If it's not done. That's a problem. And then when you start talking to tenants, well, my sinks been stopped up since last May. Yeah. Wow. Okay, have you called I've called once a month every time

Unknown Speaker  23:58  
I've had these exact same issues yesterday, because I was on the due diligence, I was it for that Atlanta property, the new one that most of the stuff wasn't necessarily complex stuff in the terms of oh my god, we're trying to land a spaceship on Mars. It was like I talked to the manager, they didn't really get back the egg. In the managers defense, when we talked to her a lot of times what happened is that the ownership just did not want to spend any money. So the problem then becomes, your manager has to bear the brunt of it, because people just assume the manager doesn't want to do the work right sometimes. And then what happens is your manager also because look, they're human. Why? Why would somebody take abuse for no reason? Right? Right. Sure. They will also check out they will also not do a good job because you're not equipping the person with the right tools.

Casey Brown  24:44  
But the thing here, here's what always what always comes back to me in my mind, I'm thinking okay, so your property's worth this. Now, I don't want to spend the money to maintain these little things. Okay, so my property is still worth this, but When it comes time to sell all of those things that you didn't spend money on to fix now your property is worth that much less.

Unknown Speaker  25:10  
Do you want me to give you a simple answer Casey,

Casey Brown  25:13  
come along, and we're not going to pay it.

Unknown Speaker  25:15  
Simple. simplest example I can give you yesterday is the property that I put under contract one property down is another townhome product. And I'm we're trying to see if you can acquire it right. And that would be a nice thing to do. Okay, you know, what's the funny thing? My property manager actually manages to present coincidence? Yep. Okay, they have a townhome that rents for about $1,500 a month. So instead, and they, for whatever reason, didn't have an office. So they converted that townhome into an office. Now, the property managers actually went to them and said, Look, you have money in your budget, because you know, we saved you money XYZ, if we actually, if we actually create an office for you like a new one, right, on one of the areas, it's gonna cost anywhere from 80 to 100,000, they handed out, right, this person would not do it. And they had money. By the way, you know, what's funny, because if you go 1500 times 12, right? $18,000, creating it, like 4% cap rate, but even if you say, a 5%, cap rate, just whatever, you made up a number, right? You're waiting 1000 divided by 5%, that's $360,000 increase in your valuation. So just to not spend 80 grand, you're gonna give up 360 grand,

Casey Brown  26:27  
and that's what it see. And it's just It boggles my mind. And we have people in this world that are that are so focused on capital money, that's all they see is the capital money, they don't see. What is that capital? What is that? What is the non spending of that capital money money doing? And it's the same. It's the same thing with investors. Investors say I got $100,000 in the bank, I know that $100,000 back, and that was always blank. Well, inflation is up 15%. What did that $100,000 do? Well, the value of it went down. Okay, you still got the same $100,000. But the purchasing power of that has gone down. Now, instead of and then they say, Okay, well, I don't want to invest $100,000. Well, when you're invested in it, if it's just sitting in an account,

Unknown Speaker  27:15  
you have a watch. Yeah, you're already invested. You've taken it.

Casey Brown  27:19  
Yeah. And you're getting you got 100,000. How you know how long it takes $100,000 to double are, you know how long it takes for your investment to double in a savings account? guy told me the other day, 14 140 years, okay. No estimate. Yeah, no. And so what I'm getting at is, is put this money to work, but the money to work just like that, that what you just said, why not? If you're looking at it from from a cap rate, especially right now, in a market that's bullish, yeah, people are gonna buy back that cap rate, or they're gonna buy back that that investments what I mean at a cap rate. So it's, it's just unbelievable.

Unknown Speaker  27:59  
And by the way, this isn't even fancy math, you don't need to go to school for this.

Casey Brown  28:04  
This is this is $2 calculator with rubber buttons from the Office Store. I mean, it's unbelievable to me. And so as a matter of fact, I don't know anybody who doesn't have a calculator on their phone, you don't have to go spend the $2 to figure $0 Basic. Well, listen, Omar, I want to hear a little bit more about boardwalk wealth, and possibly what what it's what it is, and if there's something you can offer to folks that are listening. And then of course, as always a way possibly to reach out to you if there's if there's something that that they need and go from there. So at this stage,

Unknown Speaker  28:42  
look, boardwalk whales, like we mentioned earlier, the simplest route again, real estate happens to be a means to an end. But like I tell all my investors because I have a couple other businesses people live in. So make sure this all of these things are a means to an end. And the means to an end is how much can we stretch our dollar in the shortest possible time to get the maximum possible returns. That's where boardwalk wealth is. We're happening to do real estate. I've actually joked with my while I haven't joked I'm serious people think I'm joking. I've literally told people look, if I could wave a sandwich board outside of McDonald's, what goes Whoa, get a free burger, right? And make triple the amount of money I will go wave of sandwich board outside of McDonald's because the point of this entire exercise is to make money not basically be enamored with the picture of the property or I don't know it's not white and you wanted it quite right.

Casey Brown  29:29  
That's right. That's right. Yeah. Yeah. Yeah.

Unknown Speaker  29:32  
So that's the name of the game. People can reach out by going to our website Boardwalk. wealth.com right under I think on the right side of my website, and sometimes because I don't have to. Yeah, on the right side, there's an email opt in with your name, email how you found out about us right? You click on that will send you an email to autogenerated click on the link in the email. So Google or whoever use knows we're not spamming you, you will be added to our mailing list. You're gonna start hearing all my thoughts from my talks about the million dollar man, Ted DiBiase, to where I think interest rates are going,

Casey Brown  30:05  
I got an idea that those thoughts are going to be very, very interesting. As a matter of fact, I'm gonna go subscribe right now, because I want to hear what your thoughts are. I mean, you know, and let's say and all joking aside, I mean, you know that there's the American way is not to, to grow the nest egg after it's inherited the American way is to take it and blow it. So you know, there has to be a certain bit of, of, you know, in yourself for taking the family nest egg and saying, Hey, guys, we're gonna grow, let's grow this. Let's not, let's not just take it and go by the private jet or go fly on a private jet and go to a beach and get sip, Pina Coladas. And whatever else. Let's, let's find a girl moved Oklahoma and let's grow this right. Is that isn't that the name that

Unknown Speaker  30:54  
wasn't that articulate, basically. But that was the plan. There you go. Well, listen,

Casey Brown  31:00  
my friend, I want to thank you for your time today. I know that you've probably got a million other things in on the books to happen and, and I just, I can't thank you enough for carving out a little time to talk to talk to me and I and my listeners, and hopefully, at some point, they reach out to you and if anybody needs Omar, I know he's right there. I mean, very, very easy person to talk to and if you need something that's boardwalk wealth.com. And of course go over there and opt in he thinks that he's on the right hand side, go over there and opt in and give me your email Omar. Thanks. Thank you, sir. Very much. Really

Unknown Speaker  31:33  
appreciate it. Casey. Yes. Yep.

Transcribed by https://otter.ai

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Omar Khan

Boardwalk Wealth