Ep. 038: Coaching, Capital, and Cutting Through the Noise with Omar Khan
In a candid and insightful conversation, Dustin Miles sat down with Omar Khan, founder of Boardwalk Wealth, to unpack Omar’s journey, the realities of multifamily investing, the value of vertical integration, his sharp views on the coaching industry, and what’s really happening in today’s market. It’s a must-listen for anyone interested in real estate, entrepreneurship, or learning from an operator who has weathered multiple economic cycles.
A Global Path: From Dubai to Dallas
Omar’s background is anything but traditional. Born in Dubai, raised in Pakistan, and later educated at the University of Toronto, he moved from Canada’s oil industry to the world of Texas real estate — driven by equal parts curiosity and a strong desire to escape the cold.
“There was no grand strategy,” he laughs. “I just thought Texas sounded cool… I’d never even been before.”
Capital Markets Foundation → Real Estate Opportunity
Omar credits his foundation in capital markets, investment banking, and strong networks for shaping his early success. Texas’ entrepreneurial environment provided fertile ground to build his multifamily career, and tax strategy played a major role in the shift.
“The biggest leakage was always taxes,” he explains, pushing him to build wealth more efficiently rather than stay on the corporate hamster wheel.
Omar’s Take on Coaching: Proceed with Caution
When it comes to the real estate coaching industry, Omar is blunt.
“Most of these coaches are losers who can’t get a real job,” he quips, pointing out that truly elite players like Sam Zell or Barry Sternlicht are too busy building empires to teach weekend bootcamps.
While he acknowledges that coaching has its place — especially in sports — he warns investors to be mindful of inflated promises and outsized fees.
Vertical Integration as a Survival Strategy
A major theme of the discussion was Boardwalk Wealth’s decade-long investment in building out its management platform. That vertical integration has allowed the company to operate efficiently, pivot during downturns, and even acquire properties from lenders when others stumbled.
Strong processes, systems, and people have made all the difference.
Today’s Market: Harder Equity, Tighter Expansion
Both Dustin and Omar agree: raising capital is harder than ever, even for seasoned operators. Many long-time investors are sitting on the sidelines due to prior losses or capital calls, so storytelling and relationship-building matter now more than ever.
“What we like and what we can actually raise capital for are not always the same,” Omar notes.
As for expansion, Boardwalk Wealth isn’t seeking new markets aggressively but remains open to strong, no-nonsense opportunities wherever they arise.
Standing Out With Investors
Dustin shares that most of his recent equity has come from new investors, while past investors remain cautious. Both emphasize that consistent showing up — whether through meetups, lunches, or communication — is essential, but there’s no “magic bullet.”
Market Opportunities & Mindset
The discussion wraps with insights into the Texas market, including Austin, DFW, and Houston. Omar stresses that patient capital and disciplined operations still win, especially in choppy economic waters.
He even ties lessons from tennis and Brad Gilbert’s Winning Ugly into his investing philosophy — noting that resilience and strategy often beat flashiness, in both sports and real estate.
Final Thoughts
Omar’s overarching message: don’t treat real estate as a religion. Stay adaptable, stay humble, and keep learning — whether through books, mentors, or new experiences.
