BTM 73: Money Isn’t Everything with Omar Khan
Omar Khan is a manager at the Dallas, Texas private equity firm Boardwalk Wealth. Omar is a CFA charterholder with 10 years of experience investing across real estate and commodities. He has completed $3.7 billion in capital financing and M&A transactions. Omar has also syndicated large multi-million dollar deals across the US and Advised high net-worth individuals and entrepreneurs on real estate portfolio allocations.
On today’s episode, we talk about escaping the rat race, finding the right multifamily deals, underwriting them and sourcing capital – international and domestic. Omar shares his story of graduating during the 2008 market crash and how he 10x his efforts to start his career in finance and real estate. You’ll learn how you can leverage your W-2 income to invest in real estate and why underwriting is the most important piece of the investment process.
Key Points From This Episode:
- Why investing time in growing your network will 10x your income
- Top questions to ask yourself before investing in real estate
- Importance of visualizing your success and knowing what your strengths are
- What makes a good underwriter and how to analyze multifamily deals
Links Mentioned in Today’s Episode
Omar’s Website: https://www.boardwalkwealth.com/
Omar’s Favorite Books:
Thinking, Fast and Slow by Daniel Kahneman
Great Expectations by Charles Dickens
Download any 2 audio books for free when you try audible for 30 days: https://beforethemillions.com/book
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BTM 27: Bootstrapping Legal Fees and Access to Capital with Amy Wan
On today’s show we welcome Amy Wan, an attorney who specializes in real estate fund syndication for entrepreneurs. Amy is based in Los Angeles, where she runs her company Bootstrap Legal. The underlying goal of the company is to democratize access to legal council by decreasing the amount of billable hours for drafting legal documents.
Amy had not intended on going into law and, in fact, she was studying biology towards being a doctor or pharmacist. After going through the motions of her degree she eventually landed in USC Law School studying human rights law and later international trade law.
Amy then moved to California with her husband and found a job at Patch of Land. It was here that she became interested in the idea of legal access democratization, something she would draw from with her own company.
Amy’s story is both one that can inspire an individual pursuit and is also full of great illuminations on the possibilities for the future of legal work. Tune in to hear all about it!
Key Points From This Episode:
- Why trading your time for your money is not for everyone.
- The legal profession’s opposition to efficiency.
- Different types of fund syndication.
- Investment crowdfunding as an online syndication and its returns.
- What exactly is an accredited investor and their role.
- Bootstrap legal and the democratization of legal aid.
- Just how inefficient the standard legal turnaround is on drafted documents.
- How Amy’s company makes the system work more efficiently.
- The money and time that this can save a client.
- Challenges that Amy faced in starting her own business.
- Amy’s suggested timeline for prospective capital raising.
- Property value, projected goals and likely capital amounts.
- And much more!
Tweetables:
[spp-tweet tweet=”“What is the one thing that crosses borders, that everyone respects? And that’s money” — @amyywan“]
[spp-tweet tweet=”“The legal profession is not incentivized to be more efficient” — @amyywan“]
[spp-tweet tweet=”“We don’t want to bill by the hour, we want to do things efficiently using technology” — @amyywan“]
[spp-tweet tweet=”“I think people are going to have think a lot more creatively in the future”. — @amyywan“]
Links Mentioned in Today’s Episode:
Amy Wan — http://www.amywanlaw.com/
Patch of Land — https://patchofland.com/
Bootstrap Legal — https://bootstraplegal.com/
Turbo Tax — https://turbotax.intuit.com/
LegalZoom — https://www.legalzoom.com
Kickstarter — https://www.kickstarter.com/
Indiegogo — https://www.indiegogo.com/en
GoFundMe — https://www.gofundme.com/
Fundrise — https://fundrise.com/
Legal Hackers — https://legalhackers.org/2014/08/welcome-la/
Cam Kashani — http://camkashani.com/
Four Hour Work Week — https://fourhourworkweek.com/
Calendly — https://calendly.com/
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BTM 02: $50 Million Dollar Rental Portfolio and the A-Team Behind it with Reed Goossens
On today’s show we’re speaking with Reed Goossens. Reed is a serial real estate entrepreneur and founder of RSN Property Group. As a native Australian, Reed moved to the US to pursue his investing career. As a qualified structural engineer and project manager, Reed has been involved with construction and real estate since 2007. Reed’s expertise includes project management, property development, and key stakeholder management. Reed has been involved in the development and acquisition of over $500 million in real estate and infrastructure across Australia, North America, Europe, and South East Asia.
After gaining valuable experience working in the engineering and construction industry, Reed decided to pursue his passion for real estate development and investing by starting RSN Property Group. Throughout recent years Reed has developed his personal portfolio of solid cash flow investment properties. He believes now is the time to enhance and utilize the power of syndication investing to purchase apartment communities. Reed’s commitment to the development of a structured, systemized approach to researching, acquiring and managing investments provides the basis for RSN’s sound operating system.
Key Points From This Episode:
- Reed tells us about his journey from student, to engineer, to successful entrepreneur .
- Hear how the book Rich Dad, Poor Dad has been a big motivator in Reed’s life.
- Find out how Reed closed his first deal on a triplex.
- Understand what Reed learned from his first deal and the team he used.
- Learn how a move to commercial real estate and scaling was more beneficial for Reed.
- Find out more about the components of a successful team.
- Hear some of Reed’s suggestions on finding a good broker.
- Discover how Reed sculpted his entrepreneurial journey through his daily goals.
- Understand why, as a real estate agent, you need to know how to hustle.
- Why Reed believes that getting a mentor is another way of investing in yourself.
- Hear what sacrifices Reed had to make in order to get to where he is today.
- Find out why Reed’s mentor is key to his success.
- Understand why people underestimate the amount of work it takes to grow a business.
- And much more!
Tweetables:
[spp-tweet tweet=”“There’s no such thing as get rich quick.” — @reedgossens “]
[spp-tweet tweet=”“Real estate investment is a team sport.” — @reedgoossens “]
[spp-tweet tweet=”“I’m more afraid of regret than I am about failing, if I give it a try.” — @reedgoossens “]
Links Mentioned in Today’s Episode:
Connect with Reed on Instagram
Reed’s Favorite Books:
Rich Dad, Poor Dad by Robert Kiyosaki
Rich Dad’s CASHFLOW Quadrant: Rich Dad’s Guide to Financial Freedom
The 4-hour Workweek by Tim Ferriss
Access The Best Strategies, Tips & Advice!
Every week, we send an email sharing my best advice, tips and strategies related to Real Estate Investing. Each of these weekly emails contain relevant and actionable information that can help you no matter where you are in your investing journey.