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Summary:
Omar Khan, CFA and M & A expert with Boardwalk Wealth shares how asset management can help real estate investors manage their investments with reduced risk and greater efficiency.
Why should you have an asset management plan in place BEFORE closing a deal? You will learn how a business plan can help you achieve CLARITY with regards to your finances. We also reveal how you can vet, hire and manage a property manager for your investments. But, what do you do if you are unhappy with a property manager in the midst of a rehab? And, how do you ensure that your rehab expenditure remains within budget? For all this and much more, tune in to our latest show.
Time Stamped Show Notes:
- 00:29 – Whitney welcomes Omar to the show
- 01:48 – Omar shares his background information
- 02:26 – Omar explains “Real Estate Asset Management” in simplistic terms
- 03:30 – Importance of having a well-thought-of asset management plan well before you close a deal
- 05:38 – How to clearly communicate the nuances of your rehab plan to your property manager
- 07:50 – Having an asset management plan in place allows you to plan your finances in a better way
- 09:20 – Should you conduct market research before putting your rehab plan in action?
- 11:02 – Adequate capital is a prerequisite for implementing a rehab plan
- 12:52 – Does the onus of the asset management plan fall largely on you or the property manager?
- 14:13 – What are the pros and cons of having your property management company manage your rehab plan?
- 15:04 – Can you, and should you change your property management company in the midst of a rehab?
- 17:16 – How to bring your asset up to market standards by spending the least amount of money
- 18:56 – Continuous learning and persistent hard work is the key to efficient asset management
- 20:20 – Omar shares his contact information
- 21:40 – Get in touch with real estate experts like Omar by joining our Facebook group
- [spp-timestamp time=”21:57″] – A Special Thanks to our sponsor, LifeBridge Capital
In this episode, you will learn
- How to structure an efficient asset management plan
- How to clearly communicate your asset management requirements to your property manager
- How to vet, hire and manage a property manager
Resources
- Real Estate Syndication Podcast
- Life Bridge Capital
- BoardWalk Wealth
- Omar’s Email and Linkedin
- Get access to Omar’s Deal Analyzer
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