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No one wants to lose their shirt—or anything else for that matter—in multifamily investing. But it’s easy for inexperienced syndicators develop an emotional bias and conflate the numbers in order to make a deal look good to potential investors. And passive investors new to the game typically focus on returns, when their first question ought to be about the risks involved. Conservative underwriting is the key to risk management for syndicators and investors alike… But how do you ensure that the numbers are reasonable? What questions should investors be asking? And how can you tell when a syndicator is too aggressive?

Omar Khan is a Chartered Financial Analyst with Boardwalk Wealth, a private equity firm based in Dallas, Texas, that connects international investors with multifamily opportunities in the southern US. Omar is responsible for raising capital, strategic planning, the development of underwriting models, and investor relations. He has 10-plus years of global investment experience, and Omar has participated in capital financing and M&A transactions valued at $3.7B.

Omar joins me to explain how to identify aggressive underwriting and ensure the accuracy of the numbers used in a particular model. We cover conservative guidelines for reserves and loan terms as well as the importance of planning for worst-case scenarios. Listen in for Omar’s insight around what to look for in a syndicator, how to leverage a sensitivity analysis, and the exit strategy questions an investor should ask—and a syndicator should be prepared to answer!

Key Takeaways

Omar’s background in finance

How to identify aggressive underwriting numbers

How to ensure accuracy of numbers used in model

What Omar looks for in the cap rate at exit

The internal systems questions passive investors should be asking

The qualities Omar is looking for in a syndicator

Omar’s insight around communicating with investors

Omar’s advice around conservative loan terms

Omar’s approach to bridge loans

The most conservative underwriting guidelines for reserves

The importance of planning for worst-case scenarios

How the passive investor can leverage a sensitivity analysis

Omar’s advice on the exit strategy questions to ask syndicators

Connect with Omar

Boardwalk Wealth

Email [email protected]

Call (214) 727-8643




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