RCRE - The Power of Liquidity with Omar Khan
Dylan Marma and Mike Taravella interviews Omar Khan who is responsible for Multifamily Acquisitions for Boardwalk Wealth.
- Buy Right so you don’t have a property that you can’t exit
- Chances for having a more favorable increase:
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- If you are in a bigger, more liquid market
- Execute true value-adds, instead of having the market driving
- Leave some value-adds for the next seller
- Class C properties are trading for the same cap rates as Class B
- The biggest risk investors are facing is that sponsors aren’t raising enough money
- Leave 6-9 months of cash flow personally and in your business
- You’re never a forced seller when times are good
- Investors must trust you and believe in the story of the deal, not just the numbers
- Ask specific questions to sponsors to see their thought processes
- Accounting & Finance team members live and die by the income statement
- Don’t be fearful to ask questions
- Reassess your underwriting assumptions by comparing with actuals
- Expert Tip: Have the patience and reserves as a sponsor to get paid. Sponsors generally get paid on the sale of the deal and it takes several years to do so.
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