Syndication Capital Raise Videos with Omar Khan

Full Transcript

SUMMARY KEYWORDS

video, property, realize, deal, money, investors, investment, omar, people, script, literally, spend, life, nice, work, iphone, wealth, questions, understand, unit

SPEAKERS

Taylor , Omar Khan

 

Taylor   00:02

This is passive wealth strategies for busy professionals. I'm your host Taylor load. I'm a real estate investor and a busy professional. I love talking about investing in real estate with you and my friends and everyone around me working to grow our wealth passively while we have our day jobs paying our bills. This is a great interview today with Omar Khan. For those of you out there who are in real estate syndication, and have ever seen those interesting videos that people make to share their deals with their investors or summarize their deals on a monthly basis. Omar makes some really awesome videos and today we're going to go through the process that he uses that saves time saves money over what other folks might be doing, who are making equally nice videos, maybe not even as nice as his videos, just the lessons that you can learn and implement in your business to make fantastic deal presentation. videos for your investors. So, great interview today. Omar is a fun guy to talk to a little bit of a warning. There's a little there's some language in this one. So just head up and put the earmuffs on. If there's any kids around, you don't want to hear some dirty words, you're going to really enjoy this interview with Omar Khan. From boardwalk wealth. Omar, thanks for joining us today.

 

Omar Khan  01:22

Oh, thank you for having me. Taylor, how are you? I'm great. It's

 

Taylor   01:25

great to talk with you again. I see your deal flow, you guys are doing big things. It's impressive to see. For those out there who don't know you. Could you flush out your background a bit and tell us about Omar.

 

Omar Khan  01:36

Sure. I mean, look, my background is I worked in finance on the institutional side, both on the selling side which is basically the sales side is advisory. So you think investment banks equity research, that sort of stuff. And by side is more of the corporate or people who are actually buying things. So work on both sides of the fence have a very varied background and deal structuring m&a is basically I spent so it's just a fancy way of saying I spent a lot of time in the office and like an early 30s. And yeah, now what we basically do is because I have a lot of experience working on the institutional side, structuring deals, running deals, so when I started doing this by myself when I moved to the US few years ago, it was it wasn't as it was hard in different ways, but not as hard from a technical point of view. And here we are. Now we do deals primarily in the south, Texas, Florida, Georgia, typical deal sizes anywhere between about 20 to $30 million, give or take. Yeah, that's about it. I mean, I can go into the more details when we talk.

 

Taylor   02:39

That's that'd be great. If you know Texas, Florida, Georgia, you said and your typical deal size 20 to $30 million. How many units is that? And what asset like class and range and everything are you targeting?

 

Omar Khan  02:49

So let me do that. So what is it? Roughly it's about 1300 units. 1260 something units, what classes mostly be Ivan, I mean, there's one CD in there, but typically we target BB plus value. And the reason for that is very simple, you know, honestly, man, I just don't like getting I prefer to not get stabbed and go to a property. That's just a personal preference of mine. So I prefer to not go to the hood I prefer I'm not going to say relatively lower income areas, right? Because, you know, I'm not saying it's good or bad people and made a lot of money there. I just kind of prefer to go to like, you know, nicer areas and I still feel there's a lot of us left on both of those areas for the right type of asset so you know, why put yourself in a position where you might get stabbed? You know, that's the way I look at it.

 

Taylor   03:43

Nice. I appreciate it. Like you.

 

Omar Khan  03:44

I don't do Brazilian jiu jitsu so there is no way I'm saving myself when somebody goes for me.

 

Taylor   03:49

Yeah, that's true. My wall like I said, before we started recording my fighting style is to just run away.

 

Omar Khan  03:55

I mean, let me look at these hands. I mean, you see how soft and supple these hands are. Men never done any physical hard labor day in my life, man. And I prefer to keep it that way.

 

Taylor   04:05

I'm not about to start.

 

Omar Khan  04:06

I'm not about to start, man didn't work this hard. Nice. Well,

 

Taylor   04:11

you know, today I wanted to talk with you. Because like I said, when we started recording that, I'm on your email list, I see some of your things that you're doing. And I saw one of your videos for a deal that you're closing, I believe at the time you haven't closed it

 

Omar Khan  04:26

yet.

 

Taylor   04:28

You've closed it now.

 

Omar Khan  04:28

Yeah, it was in December. Yeah, we've kind of closed for more than a month.

 

Taylor   04:32

Okay, and we're recording here at the end of January. But I thought the video itself was very powerful as video for your investors and prospective investors to get them familiar with the property and I kind of wanted to talk with you about that. I presume there was a time before you were doing videos for your investors. And now you are doing those videos for your investors. And I want to understand the process of putting those videos together and the value that you put your business get And your investors get out of seeing those videos and really dig into that because there are a lot of syndicators out there, myself included who are, are not having these extravagant looking videos made of our properties. And let's, you know, let's dive into it. Let's talk

 

Omar Khan  05:18

about what happened is, I inadvertently after a few years, I realized instead of writing the next great American novel every month, you know, it's hard to kind of lie on video, right? I mean, either look, either something's there, or it isn't. I mean, there's, you gotta say something's there. And obviously, something isn't there, right? So it's kind of hard to live on video. And it's also very easy because a picture's worth 1000 words, right? So when it's very easy, so a lot of times, you know, when we go to the property, month on month, sort of updates on the week by week updates, all of that. Honestly, I literally just whip out my iPhone and start recording. Now the video that you saw was more professionally recorded that aside, but the concept is what again, it sounds like such a revolution. concept and I didn't invent the concept of video, right? But what happened is, for like two or three years ago, we started doing this kind of inadvertently, it was just like a spur of the moment thing. And as soon as we did it, we thought, wow, this is, this is so much better in the sense that I don't have to go. I mean, I don't have to go write the next big American American novel number one, because you can see it, number do, it solves a lot of problems or questions or queries or concerns right there. And on top of that, what you have is content for the future to show your future investors. So it's kind of a win win, win win for the sponsor me win win for you as the investor and win win long term because we have like a content library that anytime somebody asks me something going forward and to build on it over a period of time, right? You just point them in the direction and now they kind of know what you do. Right? So it's a win win from all directions. And again, we were at least kicking myself for not doing it from the start, right? But what I've come to realize is that it's such a it's such a more powerful medium, that it just literally honestly meant it takes like five minutes to shoot because it's not like you've got a script this thing trying to start like a Hollywood movie or not scripting anything, you're literally going there and the things you are seeing you are documenting. That's it. Because up man, if a unit is shitty and rundown as unit is shitty and rundown, I mean, there's just no two ways about it, right? I mean, you'd like to say it's nice, right? Similarly, if a unit is being renovated or has been renovated? Well, you should be able to see it because if you can't see it, that means you just, you know, throw your money down the toilet, essentially, for the lack of a better word, right? So what and what happens on top of that is when you start doing so you might not see this with the first video. I mean, we did but that might have been a sheer accident also, right? But what happens is when you show a pattern, say over six months you shot like whatever 1012 three, four or five hour X number of videos for the same project. You can show chronologically, make a progression of what you've done right? So then it stops being, hey, well take my word for it because you live like halfway across the country. And it becomes a case of where you can go back into six months or a year ago to look at that video and kind of follow the progress all the way through to give you a better idea. And you know, you marry that obviously, with the financials, we provide you the questions you ask. And a lot of times a lot of these things are psychological. And you always have to err on the side of oral communication, right? And a lot of people it's just the way it is, you might as well over communicate and under communicate, right? So what it does is over a period of time, it's a slow burn process. But over a period of time, what happens is that investors are happier, but from a sponsor perspective, what happened to you had to do less work, literally because you answered or you took care of a lot of concerns or psychological issues more than anything else, right? Because the numbers don't lie, but psychological work, you've taken care of those concerns before they've even had a chance to arise. Like it's like being in a job interview right, but you answer You provide such a good answer there to take care of the next two or three questions that are coming on board. Right? It's kind of like that.

 

Taylor   09:06

Yeah, that's, I think that's it makes perfect sense. I appreciate that. I think baby, what I'd like to focus on is how you took it from the seemingly just the iPhone video and putting it up and everything to a more professional level you had clearly

 

Omar Khan  09:23

enter, there's only one answer, you need a lot more money then. Okay, simply straight up. If you got a lot more money, you can do this from the start. And obviously, when you're starting up, and you're experimenting, because everybody's investors can be different, right? So maybe your investors by some weird freak of nature might only like to read text. I mean, I don't know why that would be, but maybe let's do that. Right. So what you don't want to do is you don't want to shell all this money for expensive videos for expensive production, especially when you're starting out because you might not even get a good response. Or maybe you're not at that stage or maybe you know, some white gold, wasted money from Reason, right? So my point is that the production quality, the sound, all of that stuff you're talking about, that is straight up a product of the fact that we have a track record right track record is equal to having more money in the pocket is equal to now, okay, let's just go do it. I don't know if I could say that works, but let's go, do you understand and that allows you to take more chances than otherwise. Right? But if you're starting out you've got one or two deals and you want to kind of experiment when I suggest people buy a $30 like what you call it like a lapel mic extract that connects to your rifle. Because you can have really remember this you can have really shitty video, but if you've got top quality, audio doesn't matter. But if you've got really good quality video, but really crappy audio, nobody's going to listen to your video. They're just not gonna listen to it again. So audio is very important. So get the $30 without night that actually clicks into your iPhone and it It comes with even an extender cable like a 30 foot cable so you don't have to see mattered on it's just so the fellow Mike over here tried with that see what kind of response you get over multiple videos and if you get a good response and continue doing that and as you get more money you up your production now

 

Taylor   11:15

interesting so are you doing it the classic selfie hold it out or get a selfie stick or you have somebody with

 

Omar Khan  11:22

there is no notice what happens a lot of times if you go to the property if I have my property manager, I can tell one of my regional they can be offi right? Can it's really weird, you know, like I've always hated it and especially it's always always always, always a little guy. You don't want to take a video like this. And you're all trying to squeeze it like this in a video. You're like hey, I'm not the property would love to tell you right here like, just do just like just give it to somebody then. Right? Don't do that. Just look. I mean it's an iPhone, right? Just keep it there's got to be more than one person at the property. Right? Just give it to somebody and give it to one of your tenants. I'm done. They're like I was walking by and I get it was awesome. I was like a man. He's like We just want to take a video here, just like I don't really care, you know, don't be like going to work it was all just trying to you know, or they take a video where you can see their double and triple chin and you're like you're killing us it's killing us here man. Don't do that, you know where there's so near to breathing into. So,

 

Taylor   12:21

so these are simple steps that we can take to improve the production quality of our videos. I also noticed that you had drone footage.

 

Omar Khan  12:32

Oh, yeah, but that was separate. You know how much it cost us? Look. Typically if you're going to have super edited drone footage that cost like five or 10 grand man, but yeah, I wasn't gonna spend five or 10 grand Dude, I'm Asian. We hate spending money. We hate like we even hate the concept of spending money. That gives me like that. That'll keep me up at night. If you tell me I gotta spend money. So what we did is we just hired somebody for 200 $300 just to go on Craigslist. Literally. I'm not joking with you. I literally posted on Craigslist I need some amateur I mean some person in like a colleague's right one of those you know, video design whatever colleges or colleges and I want you to come up at like $300 plus somebody food and these are the shots I want to take. Right so I had shots that I wanted the person to take and obviously they had a lot of raw footage and then obviously I had to sit down with my partner and do the hard work okay, in video one seconds 31 to 45 that's the shot I want then video 542 seconds to 49 seconds right and you I don't think you've got 100 videos and it takes you three days to do it right but then when you get all you lay down like a script like looking at a movie script but it's just like 50 seconds from this to me this video these seconds from this video. And then I just gave it to some guy off five or whatever it is but you have to be really specific though you understand? Because if you give it to like somehow fiber, they will 99% of times they will screw everything up. Fiber is honestly where a lot of dumb as people go to get work, but you have to be so specific. Right? But that requires a lot of hard work. Right? So if you don't want to be specific, and you've got money, right, then yeah, just go with like a more professional person. Yeah. So

 

Taylor   14:16

How specific are you? Well, yes, sir. How specific Are you getting? Because I'm thinking, you know, I'm a big Simpsons fan. And at one point, Homer is making some video and every today it's a star wipe. So how,

 

Omar Khan  14:30

though it's really specific, let's get into it. Like, like, it's like a Word document. Okay. First, like zero to 10 seconds, take a Google map, zoom in. And obviously, we have a couple of other videos we can give examples off, right? So the text, right, and a lot of this is communication. So say zero to 10 seconds. Look at Google map on the top or wherever this addresses and zoom into like the city or whatever this place is right? Okay. Yeah, that gets you like 11 to 14 seconds, go from that, like, wherever the thing is to a 3d view, right? And then go back up again, from 14 to 18. Literally, it is very laborious writing the script down, but I wasn't going to spend five grand. So that's the alternative, or you spend five grand, and you don't gotta do all this BS. So it's one or the other. So you pick your poison, right? Yeah. Yeah. But if you don't write the script, very, very, very erudite. And you give it to somebody for video editing and wherever India, Bhutan, Malaysia, wherever the hell you're going to get a really shitty product.

 

Taylor   15:35

I believe it I mean, you might even spend the five grand and not like what they come up with no,

 

Omar Khan  15:39

but not address me. She spent the five grand typically with it with a good person who you've actually referred, who's got a good background. And yeah, nine times out of 10 you're going to be pleased with it.

 

15:51

Yeah,

 

Omar Khan  15:52

good. Would you be always pleased that I'm not saying that but I just have to do your research and try to find the right person. But if you're spending Three to five grand five grand easy, man , you trust me? Unless I don't know Steven Spielberg okay. shorted that you're gonna be okay. Okay.

 

Taylor   16:08

You're not good to know. Good to know you're not gonna get we're not we're not shooting for Saving Private Ryan just

 

Omar Khan  16:13

Yeah, I don't know nobody's winning an Oscar here, you know?

 

16:16

Yeah. So

 

Taylor   16:18

you mentioned you had shots in your mind of what you wanted to see and it sounds like you gave this student with a drone kind of numerous all right we want to see the drone come up the drive and kind of fly upward and we want to see that view and, and those things. What do you think about that? I mean, you could you could just blow

 

Omar Khan  16:36

it off everybody Dude, are you kidding me? I totally ripped off everybody. Are you kidding me there is any YouTube type? I don't know, drone real estate footage or something? But again, you've got to realize, man, this is a lot of labor, right? I mean, I had my I mean, I have like two or three like colleagues. All right, it's not just me. So we looked at a lot of people's different footages right, picked out the ones we really liked or portions of The ones we really like and you gotta realize, like, I did this like in my downtime because it's not like I had a deal then I started thinking about this role for the band, I started looking at all the videos, it's like you're three or six or 10 months or nine months, you just keep looking at different videos. It gives you an idea so totally get something and bam all this work starts happening back. No, no, a lot of this is percolating in your mind you take notes here and there and then when the right deal comes

 

Taylor   17:25

along, that's what you do. You're figuring out your processing criteria and everything way ahead of time. Then when you can just go

 

Omar Khan  17:33

Yeah, but again, you gotta realize it's not like I invented the scottson. I don't rip people off. Yeah straight up just go to YouTube

 

Taylor   17:41

that's definitely good to know I will keep that in mind I'm gonna start picking out videos that that I like maybe yours will be one of them but I'm not gonna tell

 

Omar Khan  17:49

you just do it because it's like all these like a lot of just don't do it like okay, cuz I just don't do what a lot of brokers do. Because what a lot of brokers do is that I understand why they Do it. They have many corporate looking videos you understand? It's very like, everything's like perfect and everybody's like, you know, out of Hollywood and stuff, right? You know, you know what I'm trying to say all the pictures are perfect. Don't you need to have a little bit of imperfection, right? Because when you do with these brokers and a lot of times what happens is it just comes off as really wouldn't you understand? It's just yeah, you know, everything looks too good. You understand? So it just looks kind of weird.

 

Taylor   18:31

It goes back to I think what you said before is like you can't if you show a video of a bad unit you're not going to be able to hide that and be tried to make the video too perfect or two wooden i like i like that.

 

Omar Khan  18:42

It's just awkward. You know, like when somebody is like, you understand when somebody's like trying to be somebody they're not. It just, you're just able to pick it up. You're just able to pick up that vibe. It doesn't even matter what language they're in or what culture it's just their mannerisms just change.

 

Taylor   18:57

Yeah. If you want to put some soul into it.

 

Omar Khan  18:59

Yeah, yeah. It doesn't have to be perfect, dude, trust me, it doesn't it has, but it's got it, it's got to convey the big points that you want to convey. As long as you can play the big points Don't worry about the screw ups.

 

Taylor   19:10

So that is the next aspect of this that I wanted to get into is the information that you want to convey in these videos. Now, obviously, we're not hiding any information from investors, we're saying the important information that we need to put in this video to highlight the important parts of the plan to the investors. What do you think about that? And what do you think about putting in the video? So you get that all across?

 

Omar Khan  19:36

Well, look, in the case of that video that the weather the walk with the video you were talking about living in Texas, I can tell you the biggest thing for me when I go to Atlanta specifically is the amount of trees. I just can't get over the fact. Oh my god, it's so lush, beautiful. There's hardly any trees in Texas, right? So I love that about Atlanta. Right. So we really wanted to emphasize that that was more personal. Be honest with yourself, can I just like the fact that, you know, trees are so soft on the eyes, right? So we really wanted to emphasize that But what we also wanted to emphasize was the fact that our marketing four stages B plus acid was going to be very different than say, a CSA right? We're not doing that but see yes. And it's kind of different. I mean, the sea acid there's most of the ship doesn't work. So you really want to show that right you see all the parking lots are really crappy. It looks like a war happening here. ISIS was here or something like that. Or, you know, the Jewish look really shit, right? Something like that. Right? But here, for instance, on a BB plus asik what you're really trying to show is all the amenities you have. Right. So you've got the pool, you've got the Bocce ball area, you've got this area with grills and a combine all of them. I mean, they're there but they're not really that nice, but they're there you can see that there's a pretty nice thing. You can show the clubhouse The, the model unit, right and then you can see the gender look and feel of the property and obviously Look, when you're in a deep BB plus type property, the look is very different than a seat problem. It's just the way it is. Right? Yeah. So you're highlighting more of the amenities and the additional incomes and the structurally how good the property is already. Now what you're going to do to take it to the next level, but with the C one, if I was doing it, I'd be looking more more at it from the perspective of Look, it's a piece of crap. Look at look, see how much crap there is over here? Is this amount of crap, I gotta go fix and that's how we're going to make money. So it's just a different asset, right? So different assets would require different marketing.

 

Taylor   21:34

That's true. Have you looked into speaking of the information to show your investors, have you looked into any of the legalities? This is not legal advice, but any of the legalities of having a drone fly over your comparable properties and saying, Look,

 

Omar Khan  21:50

I'm also going to be honest with you, as an ethnic minority, who's an immigrant, I really don't want I'm just gonna be straight out here. I'm not gonna take that chance. But Taylor, you're a nice looking guy, you should go for it, you know?

 

Taylor   22:05

Well, yeah, we might get different receptions there but but

 

Omar Khan  22:08

Yeah, you might not get a 100% random profile on that sort of thing. Whereas I might get a hundred percent random profile so I'm going to try to avoid that.

 

Taylor   22:19

Yeah, no, I have been approached by hostile entities while looking at properties. Like what did they do? It was just a neighbor. It was a C property maybe c minus property neighbor owned a little liquor store corner store and he kind of came over because I didn't know, look like the clientele I drive a pretty nice car and I drove in my car there. I got out of my car and I was taking pictures and you know, he approaches and you guys gonna yell at me you guys gonna clean up this property and blah blah and

 

Omar Khan  22:51

well that's gonna suck for is that's gonna really suffering slowing down. You're gonna clean up the property man. Live it.

 

Taylor   22:59

Well, I don't You know, it was just that was the only time though otherwise, you know, nobody

 

Omar Khan  23:03

that night might be the only diver being an ethnic minority would have helped you Taylor

 

23:07

as definitely possibly

 

Omar Khan  23:08

you could have just way stayed under the radar.

 

Taylor   23:16

You might be right about that. But, you know, it was an interesting experience but I wasn't in any danger. It was just,

 

Omar Khan  23:24

you know, I guess you know, Brazilian jiu jitsu. I mean, did you tell the guy that?

 

Taylor   23:28

No, but I was wearing a Brazilian jiu jitsu sweater so as I that's my casual attire, so Okay. Now Yeah, no, it was a it was fine but but it's not comfortable when that happens,

 

23:44

so he gets comfortable getting harassed I agree. Now it's not

 

Taylor   23:47

it's not how many of these videos have you made for your properties? I want to make sure we select

 

Omar Khan  23:53

properly edited ones or just like videos.

 

Taylor   23:56

Well, let's go through the the evolution because I think the evolution is important because If you thought the iPhone video even without a lapel mic was valuable and you said hey, we're going to do better next time then it's

 

Omar Khan  24:08

hold on hold on the I still the monthly updates and all I don't do is Steven Spielberg I don't have a crew with me everywhere I go, I'm not 50 cent. What happens is the monthly updates, right? Those are all done, but always make sure just spend $30 always have a lapel mic. I cannot stress how important having a lapel mic is okay, as long trusted as long as you've got crystal clear high def audio, you can literally crap the bed on your video and nobody even bats an eyelid. I'm not joking with you literally nobody even bats an eyelid. But if you've got bad audio, and you've got even solid video, and people just get turned off, so just remember that so always have a lapel mic with you or whatever. Just a mic so you know you're not that far away from and the iPhone never even gets right or something like that. So that being said, all the money Or whatever updates those are all done with my iPhone. Yeah, yeah, but for material events right acquisition sale once a year, those will be done professionally going forward and right now. Okay, so, day to day week to week month to month videos those are all

 

Taylor   25:18

iPhones lapel mics iPhone videos, but as far as acquisition when you're initially getting investors interested in the property, how many of those have you done?

 

Omar Khan  25:30

like four or five I think four or five Actually, we did like 10 but then we combined them into like four or five videos. Understand we did like 10 like two three minutes section segments, okay, apart from the various aspects. So what we did is then combined into 110 minute video, right so what you will see if you go to the board again, shameless plug here, or block well to YouTube channel, you'll see like the 10 minute video four o'clock at night, right? So what you seem that 10 minute videos like this, like you know when you can see like when a video ends it'll, it'll have on the screen, you'll have something like value. And then we'll talk about all the value we're going to create right in that segment. And then the board will come up and say, operations, and then we're talking about the operations. And that will come up and say, whatever our business plan is, and it will talk about our business plan. So those were all individual videos that we decided instead of like drawing people in videos, we can just create 110 minute video from the five or eight or however many videos they were combined them together, but the single videos like you know, the two minute individual the one that happened individually, we drip release them on social media over a period of time.

 

26:38

Interesting. Okay,

 

Omar Khan  26:39

but for investors instead of you know, initially drowning them during the equity raised portion. We just basically did like one more video.

 

Taylor   26:48

And do you find that? Have you found that it is a convincing factor? I mean, I want to use the word sales tool because I'm a salesperson.

 

Omar Khan  27:00

To say, Hey, man, I'd much rather be a good salesman than a bad salesman. It's true. Let's put it that way. I think the jury's still out on that. I can't really say for a fact, right, whether how much more people were convinced, right, like if I didn't do it versus if I did it, right. Yeah. But that being said, it's a good marketing tool, number one, and I can assure you, it's not like it hindered us in raising more money. True, right. So it wasn't a hindrance. Let's put it that way. And to be honest with you, it wasn't as much work as well, because, look, we were going to be at the property anyways. Right? For due diligence. It wasn't like I had to make a special trip down there. And it wasn't like I had a script of dialogue, because it was literally like, okay, we're going to go into a comedian. All right, let's start the video. Okay, we're going to go to the clubhouse video. Because by the time to be honest with you, man, by the time you're doing due diligence, or if you're under contract, you've already looked at all of these things, man. You've already kind of looked at what your con you should have looked at what your con Are you've kind of already toured the property once or twice? At the bare minimum, you've already kind of had an idea of, hey, how many units look like where little ones were the bad one. So it's not like any of these things are surprising. Right? It's not like you have to make an extra trip to the property. I didn't. So it wasn't like any of this was scripted out. It was just part of the fact we had to go do due diligence. When we did due diligence at the first half of the day, in the second half of day. We just did this in power for like one and a half, two hours. Because it's not like you can have a script, right? Because what are you gonna have script about? Right? Hey, look at a clubhouse great. You don't want to I mean, you already know how to say, hey, look at the clubhouse. You don't need a script for that. Right?

 

Taylor   28:42

Well, I think you also had the benefit of thinking about this for six to 10 months or so.

 

28:49

No, I think

 

Omar Khan  28:50

These videos look at what happened and I wasn't necessarily thinking about me doing this. What I was happening was you have to realize it wasn't like I had this grand idea of this thing happening and then I do this And then I do that. It's more like seeing other people's videos, hey, this guy does this really cool. This guy did this thing really interesting. So it wasn't like one thing from one person stood out, it was more of the fact that once we started shooting videos on the iPhone with the pole mics, we realized how much less work it created for everybody. Right? Let's work for us, obviously, as sponsors, but also let's work for investors. Now, they don't have to ask you the 15 questions which you should have answered to begin with, or you forgot, because you know, there's so many things happening, right? So when we saw the power of that from a time savings perspective, from a headache, sort of, you know, perspective, then this was a natural evolution over a period of time. So it wasn't like a planned thing. It's just that the amount of sheer amount of work it saved us and

 

Taylor   29:48

hey, well, time is money. You know, it makes a lot of sense that the time savings is a big value for you.

 

Omar Khan  29:54

Oh, yeah, I mean, straight up. And then I think what also it does is like I'll say it's also marketing content for the future. You're just building a content library of sorts. Yeah, that's I think the big reason.

 

Taylor   30:07

And say the name of the YouTube channel. Again, one more time for

 

Omar Khan  30:11

wealth, guys go to YouTube boardwalk wealth.

 

Taylor   30:14

That's it. boardwalk wealth on YouTube. We'll put that in the show notes as well. The videos that I've seen are great. And yeah, I really liked it. So right now we're going to take a quick break for our sponsor. All right, Omar, I've got three questions. I asked every guest on the show.

 

Omar Khan  30:31

Are you ready? Sure. I'd rather hope I

 

Taylor   30:34

Hope you have said to the first one, what is the best investment you ever made? Other than in your education?

 

30:42

Oh, dude.

 

Omar Khan  30:45

Other than my education, I was gonna say go to college. But obviously, that was that's part of education, although I didn't do a lot of studying. How about we come back to that, let me break lead liberal and we've gone back to that. The third question,

 

Taylor   31:00

Okay, great, great. The second one, it might help you get a little bit more clarity on the first one, what is the worst investment you ever made?

 

Omar Khan  31:12

Oh, dude, lots of times going to clubs at the wrong time. I should have been studying, going drinking when I shouldn't have been wasting most of my 20s when I wasn't working, and I should have been studying, not doing that and then realizing I should have been studying and then being in a panic to study, study, study. A lot of this is stuff around things I shouldn't have been doing, but I didn't do the stupid stuff. I think what really saved me, I'm gonna be honest with you for most of my life is that I'm a voracious reader. Like, I've always been a voracious reader throughout my entire life. And it's not about one thing I just like to read, right? It doesn't have to be on a certain subject matter of fact, don't even care. So I think that saved my ass a lot. Because when you think when you're a voracious reader, and you're actually a curious person, a lot of times it just Makes a lot of conversations easier with people, because you just have something that you can connect with somebody on. And all you need sometimes it's like, you know, all you need is a door to be open. Right? And then you can walk through the door. Right. So I feel like being naturally curious being a voracious reader that's helped me overcome a lot of fish. So I guess, but I don't think reading is an investment. Is it an investment? I don't know. Would you consider it? I didn't never looked at it as an investment. So I could. I don't think I'm answering your question.

 

Taylor   32:28

It's it's a time investment, if anything, I mean, yeah,

 

Omar Khan  32:31

but it's done. Yeah, I didn't, I didn't necessarily look at it as an investment to be very honest.

 

Taylor   32:35

Yeah. Just an interest. Just Yeah,

 

Omar Khan  32:37

it's an interest more than anything else. Right. Yeah.

 

Taylor   32:39

So we could probably narrow it down to the worst investment would be wasting time.

 

Omar Khan  32:46

Just straight up wasting time and not being clear on what I want to do or your life. Yeah. But I guess not being clear that you learned from experience, right? Because you've got to do so many things you don't like to understand what you really like? Yeah. Very few. are clear at a young age.

 

33:03

And we have

 

Omar Khan  33:04

a lot but I'm trying to become clearer.

 

Taylor   33:08

It's always a process for me. It's always a process. Your third one, I don't try to come to the first one third one. What is the most important lesson that you've learned in business and investing?

 

Omar Khan  33:19

Oh time, freedom of time is everything they are rather having as much time freedom because what I was realizing and that was really immediate. Everybody likes to blame millennials these days. Right? I'm a millennial, so I resent that immensely. But a lot of times, you know, what I realized pretty quickly is because my family's very entrepreneurial. What I realized very quickly was that a lot of guys, you know, like investment bankers, a lot of these guys that I was working with, they were making money, but they were very time poor. Like they didn't have time to chase their basically interests, hobbies, that sort of stuff. And I remember I was in one of the investment interviews once I got that job. And they just asked me, Hey, what do you want? What are you doing? I was just it was just a slow down the year. So I was reading a book by Richard Dawkins called a selfish dream. And I just mentioned, you know, playing tennis and I'm reading this book. And I remember one of the girls and one of the guys there said the book. I've read a book since grade 10. I'm too busy for that. And I was like, why you should not be advertising. You should not be advertising the fact that you are doing this to everybody. Say that to the public. I mean, I didn't say that in the interview, obviously. No, and then I realized that a lot of these people, they don't have time, so they might have money, but they have no time. And what's the point of having no time and having all this money, when you're perpetually pissed off on the diamonds are overworked or stressed and you can never really do the things you really want to do. Right? Yeah,

 

Taylor   34:42

yeah, no, I agree. And now that you're your full time real estate investor, you mentioned before we started recording that your wife is a physician, so kind of live based on where she needs to be to work but your your time is probably totally dedicated to your business and your family. You know what's that shift been like from being an investment banker and spending 100 hours a week in the office?

 

Omar Khan  35:06

Look at that. It's not like the amount of hours I'm working has reduced significantly. Or much. I mean, maybe it has, maybe it hasn't. It's very debatable. But what's changed is the distribution of time. So for instance, if I want to say like, for instance, my wife's pregnant, and we're expecting our second child in April, I have had no thanks. So we have to go to the doctors, for instance, right? So for instance, on Wednesday, we're going to the doctor, and I don't have anybody, I can just go to the doctor with my wife.

 

35:35

Yeah, right. I

 

Omar Khan  35:36

don't I don't know how to lay down some like a twice divorced guy who's my Managing Director, but hey, I gotta go to the movies all pissed off. All you better than that was like it's cool. You can do whatever they want. Right? So those sorts of things are more good now. But on the flip side, is that I'm not like I don't necessarily have like a Sunday off necessarily. I mean, I can choose to take it off. I will have it off. Right. So, time wise in terms of the workplace hasn't reduced in terms of pure hours, but what's changed is the distribution. And look, nobody has 100% control of their time, right? Nobody does. It's true. But you can at least try to work towards a happy medium.

 

Taylor   36:15

Yeah, I think that's an interesting and interesting point that you have a lot of a lot of time freedom, you can come and go as you please. But you still have a lot of passion for what you're doing. And you're deciding what you're doing at any given time. Yeah, more or less. Like you said, Nobody has 100%

 

Omar Khan  36:31

reasonable degree, right. I mean, to a reasonable degree.

 

36:34

Yeah, that's pretty good.

 

Omar Khan  36:35

No, I don't I don't resent it at all to be. And you know, what's even funnier is you realize this, I mean, I realized it's pretty late. You keep hearing this and then you're just like, Yeah, dude, it's easy for you to say because you're rich, right? But what's happened is when you actually realize at least my particular case, I always knew this, but I kept putting this down, I need to get more work experience. I need to get more, you know, all right. But what I realized is when I actually do time freedom, I can choose to walk away from certain deals from certain businesses that don't fit within the context of what I want to do, again, to a reasonable degree, obviously, right. And it's very liberating, because you don't have to just put up with crap. Like a lot of these old timers. Man, I need a lot of these old timers, and they always blame millennials. And I'm the gap, but you're 65 you're pissed, and your knees don't work, your legs don't work, half your body is aching. And now you realize in your old age, that you know, I shouldn't maybe travel the world or I should have gone to visit my parents or I should have, you know, taken better care of my friends, you know, stayed in touch with them and get all that kind of stuff, right? And now you're just resentful and bitter. Whereas a lot of people who are you're on took a little bit of a headache in terms of maybe momentarily but Cyprus had their life the right way. Well, didn't you perfectly fine, man. It's not like they're on the street.

 

Taylor   37:55

Right? No, absolutely. I relate to that very much. The reason when I was deciding to What I wanted to do with my life probably six years ago, I was thinking, do I want to go to business school? That was my plan. I took the GMAT, I got a good score and started applying. And I just realized, I don't want to be a consultant, I don't want to be a banker. What else is there? Do I want to go to business school and start learning about real estate? And I was like, All right, let's start investing in real estate. And I think that was the right decision. But I think I'd be miserable if I had gone to business school and went into investment banking.

 

Omar Khan  38:27

No, I agree with you totally. And my point is, it's different horses for different courses, but everybody's different. And we all have to make our own decisions in life, right, obviously, but we're all wired differently. But for me, that was very important. Like having the time freedom was very important, because a lot of times, man, like what I resented was the fact that you have to go to the office and you have to pretend to work. Like you have to show that to where you don't have to work. You just have to show that you're working. Right. So I never really understood that. And I know a lot of old timers would say well, you guys don't know the concept of hard work. That's like yeah, you don't know the concept of stupid work. But, you know, the Mark Zuckerberg the millennial, he's doing way better than you are. But, you know,

 

Taylor   39:08

I think that blaming the young generation is a tale as old as time people have always done that. That's not a new thing. And, and you and I, I'm a millennial too, we're going to be doing that when we're 16.

 

Omar Khan  39:20

I'm not saying I'm not gonna do it. I never said that. I never said that. I'm totally going to do it.

 

Taylor   39:27

Fair enough. Fair enough. Let's go back to the first question. What is the best investment you ever made other than your education? I think

 

Omar Khan  39:33

The best investment I have made, which I hope continues to bear fruit, is I'm trying not to be smart. It's smart, obviously perfect. The investment that I made by design with my wife, basically my relationship with my wife, it's not perfect. I get pissed off at her all the time. And she gets pissed off. All three probably even more. Oh, no, I think I get this offer more because I can relate to myself. Right? But I think it's a partnership of sorts. And I always wanted to be with somebody who was an intellectual superior to me, at least somewhat, right. And I think that investment, I hope in the future, can become and will become the best investment of my life. Hopefully, if I stay married.

 

40:20

It's gonna be number two.

 

Taylor   40:23

All right, well, we'll have to have you back on the show and

 

Omar Khan  40:26

30 years from now, will you be back on the show? we'll do what we'll do.

 

Taylor   40:30

All right. Well, thank you for telling us about this whole video process and everything that you learned today, and it's something very interesting to me. I see a lot of value in it. And like you said about time freedom. We're recording this on Sunday night at 745 my time, which is

 

Omar Khan  40:49

645 649.

 

Taylor   40:51

There you go. I'm an hour ahead of you. But yeah, it's you have time flexibility, but you can do it when you want to do it and sometimes I mean working on a Sunday night. So I definitely appreciate that everybody out there that wants to learn more about you Where can they get in touch and

 

Omar Khan  41:06

business? Well, you can go to our website boardwalk wealth is Bo AR D ball felt calm right on the homepage. You got we've got a little forum inside the forum. It's three fields. Hopefully you know your name. So you spell out your name properly. You got your email, hopefully you know that it started out properly. Can you find out about us right to remote podcast, right. There you go. Or you can email me at Dr. At boardwalk. worldstar calm, you can also go to our YouTube channel. I think it's called the channel. boardwalk wealth. That's boardwalk one word wealth and other. And there you go. You got all the secrets now.

 

Taylor   41:43

Nice, nice. Well, once again, I really appreciate it. I've always been interested in these deal videos and what the process is. You've given me a lot of great ideas today. So I certainly appreciate that. And I know the listeners have learned something as well. So much appreciated. Thanks so

 

Omar Khan  41:58

much. I really appreciate your Taking the time.

 

Taylor   42:01

Thanks everyone for tuning in today. This has been a great interview to record and I know I've learned a lot I hope you did too. If you're enjoying the show, please leave us a rating and review on iTunes is a very big helper. It's it's Apple podcast now I'm gonna keep calling and iTunes but Apple podcast, you know anyone that could use a little bit more passive wealth in their lives, please share this show with them and bring them into the fold. I hope you have a great rest of your day and a great week and we'll talk to you on the next episode. Bye