Akilan’s real estate journey is like many others… full of trials and tribulations. Real estate definitely has its ups and downs and it takes a special kind of person to survive them all. However, every once in a while you meet someone who not only conquers their real estate fears, but they go on to scratch their own itch and start a real estate investment business, by investors for investors. In this episode of The Your Life! Your Terms! Show, you’ll hear how Akilan took his own experience and turned it into the launch of www.Bisring.com. Enjoy!!
Hey everyone, it’s Tom Karadza and welcome to another edition of the your life your term show. I feel like such a radio DJ talking right now I don’t know why I’m doing this. Anyway, on this episode of the podcast we have Jacqueline on here he is a rock star member. He’s been a member for some time. I don’t actually know how long he approaches that one of the bigger your life your terms event events a little while ago and said, Hey, I’m up to really cool stuff. And a lot of people tell us that kind of stuff and sometimes we dismiss it. But he was persistent enough. Apparently we cross paths paths with him when we were speaking out something in Ottawa few years ago. Really cool story. He’s bought property in Toronto. He’s bought property out in Ottawa. Now he’s put together something. It’s a business that he’s launching for real estate investors. And we’ve asked him to come on and share what he’s up to. And the reason that we’ve asked him to come on is when there are other Canadians out there who are trying to live life on their terms. And when they’re doing something specifically for real estate investors, we want to try to help in some small way, whatever way we possibly can. So this is our way of getting someone to come on and share their story. So if you’re listening to this and you’re on your own real estate journey, hopefully you pick up a tip or two or, or some motivation from a story that he shares on this episode. And then when you hear what he’s launching to, it’s interesting, not just that he’s launching something for real estate investors, but to hear his journey about launching a business and what he’s going through and all the struggles that we all face to do something like this, it’s really to me inspirational. So he comes on to share that. And if you are listening to this and you want some real estate specific information for how to invest or where to invest, or some population data, or some strategies to use for real estate investing, we’ve put a bunch of stuff together on the website, rock star inner circle. com So on that website, you can get free copies to all our books, we have four different books that you can get access to. The digital copies are all free. And we always get asked why do you give away your books for free and the reason we give the way, the way the books for free because you can get them on amazon.ca and pay for them, but we give them away for free because we hope that at some point, we get The way some good information to you that maybe in the future, you’ll say, hey, these guys aren’t bad guys, and you’ll come in and work with us. And we’ll work together. So that’s why we give away this information. So there’s books on there. There’s reports in there. Some of the reports on the population growth in Canada, the destruction of the middle class going on in Canada. There’s videos on there, there’s links to episode past episodes of the podcast on there. And there’s access to the free training class that we do in this Oakville office here where Nick and I are there and we stick around after the class to answer any questions. So tons of Canadian specific real estate information is on the website. Rock Star inner circle. com. That’s it for now. With that, let’s get on with the show. Are you ready to live life on your turn? Is it time to take charge? Real Estate,
business building, the economy, health and nutrition and more. It’s the your life your term show with Tom and Nick Karadza. Are you ready? Let’s go.
Live with excellent, excellent. How do I say your last name? Tila?
Good boy. Yeah. I couldn’t say it again to LA.
No chance of saying that lesson. phila
Toba. Yeah. THEVLSEHEVAFT Teva.
No, that’s not it. Say it one more time.
Okay, Len, tele wow my gosh.
So I tell everyone it’s Tom karadza 10 that is the English way Yeah, but if you say it it’s actually my full legal name is actually told me love me. Oh, God. Yeah, and my middle name is supposed to be meal. You can believe it. My sorry. My first name was supposed to be my middle name. No, let me repeat that one more time. My middle name was supposed to be my first name. So my first name was supposed to be meal. Yeah, my mother stepped in and said no, I can’t have my son have me as a first name. I became Tomislav or shortened to Tom. Okay, so most people think YN it My full name is Thomas, but it’s not Donny slough. So, anyway, with that me just brutally trying to say your name that what’s the background of your name? Sri Lanka? Yeah, Sri Lankan? Yeah, we struggle with Sri Lankan last name specifically. Ok. So the reason that we’re doing this is you came to talk to me about biz ring, and I want you to explain what business is all about to everybody listening. And part of the reason I want you to explain what business is all about is because when we were starting out with Rockstar, I would have loved the platform to talk to other real estate investors in the GTA in Ontario to share what we were up to. Right. So we’re trying to use the little bit of platform that we may have built to share what you are up to, in an attempt to raise all different Canadian entrepreneurs up together so that we can kind of help each other along the way. Definitely, that’s objective. That’s totally The objective of this. So we’re going to talk about misery in a second. But before we get there, we first cross paths was in Ottawa
in Ottawa. Yeah. At the time I was living in Ottawa, and I was attending Ottawa real estate investment club. And you and Nick came over and did a presentation there. That’s how I came to know you guys. And then I was getting this weekly. What is that your life your term
emails, that once we get your email, and we’re not going to give up, we’re just going to hammer you. But it worked out on me that it usually does. We have some people who say, listen, somehow I started getting your email. And I couldn’t understand if you guys what you guys were about, or if you were real or not real or who you were. And I’ve been following you for six years, and I finally decided you must not be a scam. After six years and I’m at your office and out to learn more. And it took us six years to convince you were real people trying to do the best for other people. Yeah, so yeah, that’s cool. And I don’t even remember what we talked about in Ottawa. I don’t even remember how we got there to tell you the truth. But that’s been some time ago. So you were living in Ottawa and by were you also buying properties in Ottawa.
Yeah, actually, after I moved to Ottawa, I’m finishing my high school here in Toronto. I went to Ottawa you and after graduating from Ottawa, you as an engineer, I was working in high tech industry in Ottawa. And while I was living in Ottawa, I started investing in real estate because I started at Nortel networks. It was candy, an icon of course Nortel
worked at Nortel, you were the cream of the crop and Canada.
Exactly. Yeah. And then I got laid off. And then we do a startup company. And again, I got laid off. That’s where I started thing. Otherwise, honestly, if I wouldn’t have gone through layoffs, I wouldn’t have even thought about real estate.
So it wasn’t a book or anything, or was it a book that you read during that time that made you go into real estate as well? Like what was the catalyst for real estate during the times that you were going through this layoff situation? Yeah,
because I right after graduating from university, I started investing in stocks, like all of us. Yeah. So in now would have been what late 90s, early 2000 it was
dot com crash you are you thought you were brilliant, exactly started going, Oh my god, this
is easy. So instead of paying off my student loan, I started investing in real estate and sorry, in stocks. And that’s where I lost probably around 80 $200,000 at the time, almost 20 years ago. And that prompted me to go into my own investment. And I found that real estate as a vehicle to invest without
it. Yeah. For me, I think I was going into stocks and when that bubble burst, I’ll never forget my Oracle stock went from whatever I had up till about $80,000 in value, right around the year 2000. Just crash and remember thinking, some silly thoughts like I think I thought to my I might have said to my wife, just newly married, and I thought, you know, when we close on our first house, which was coming up at that time, I think we might be able to just like, pay way more of our mortgage than I thought like maybe we’re going to be mortgage free and like exactly three or four years. And I’m like, yeah, if this keeps going like yeah, we’ll probably pay off this hoes, then we’ll just like have extra cash. Maybe we’ll buy a place in Hawaii. Yeah.
Right. And then the crash happened.
And then they didn’t help with the 911 as well, right. Everything kind of moved everything in the negative direction.
It really did. Yeah, that was a weird time and holy smokes. It’s still changed the world forever. But I do want to share that that 80,000 went back down in value to $14,000 on me, and I remember the only thing I did I think I’ve shared this before is right at the top, I sold $5,000 of that $80,000 stock, and I bought my wife a ring. That’s good. And I really I thought, you know what, we never buy jewelry. We’re not really into that kind of thing. But let me do this for you. Because we’re going to have kids we’re going to move into a house and I don’t think I’ll ever get the chance to buy you such a beautiful ring. So that ring which she still has today. That’s a representation of the.com crash to the only thing I got out of that out of that crash. Sorry was that ring? Yeah, but cool. Okay. So you went through that backup one second. How did you get to Toronto? Where you you weren’t born in Canada?
No, no, I was born in Sri Lanka and move to Canada when I was a teenager.
Okay, so your parents decided to come here or did you come without your parents? I came without my parents. My parents came.
Yeah. Oh my gosh. Without your parents. Yeah, I’d How old? 17 so you were in high school?
That’s right. Yeah, I’m in high school. Yeah,
yeah, that’s tough.
It was Yeah, my brother was living here. So I came.
Yeah. Holy smokes and then you got into after high school. That’s when you move to Ottawa for for engineering or engineering? Yeah. So you’re smart, dude. I hope Yeah. Holy smokes. Okay, so then you get here you go to Ottawa, the crashes happen you start buying some properties. What’s your first property by what kind of give me the horrible what horrible first income property Do you buy?
I have so many stories. But the thing is,
I don’t even know any of these stories. But I know if you’re in real estate, your first income property is usually a disaster.
Actually, I bought my first property that I was living in 2003. But in 2009, I bought my first investment property. When I bought the property, everybody was saying even I wrote that in my book, that why you are buying this old property and it’s the house inside was so filthy. And the owner didn’t keep it great, but the location was great.
And sorry, how old were you when you bought that property?
Probably 3434. And
what year was that?
Now you’re going to get to me. I’m just trying to figure out what 2009 I’m trying
to figure out the property’s worth right now. Yeah. Wow. Good for you. Yeah. Do you still have that property? Sure. Yeah.
But I went through all sort of trouble with a lot of other properties as well because, as you know, dealing with the tenants and not always great, but the thing is a certain percentage of the tenant, they lived in my place. properties and then they put saved money and then purchase the properties. they appreciated that I was a great landlord and all sort of relationship even after they moved in, they invited me for their house warming party and I have attended and all sort of great things happen at the same time, certain percentage of the tenant, they will give you trouble as well. If you run away from the these troubled ones, you will lose the great dividends you will get out of the real estate investment. Right. Yeah, totally.
I tell everyone, listen, attending dealing with rental properties is not difficult. It’s usually only difficult because you don’t know what you should be doing under certain certain situations. So if you understand the tenant act, if you understand what happens when people are late with rent and stuff, yeah, it’s pretty smooth. It’s usually when you don’t have all the information or you don’t know what you’re supposed to be doing. Yeah, as the stress pile up and do things get a little sticky like that if you follow things properly, which we did in the beginning, because we didn’t know what we were doing. We just listened to everyone’s story. Like, you can’t pay us right. Okay, well, hopefully in two weeks, you can pay Hey, you know, and we were busy with the rest of our lives, we just forgot about it for two weeks and then pay now turns into a bit of a disaster. Then you bought another, I thought you were going to say in Ottawa, but it wasn’t the next purchase here in Toronto something
Yeah, Toronto and then I started investing with my Real Estate Investment Partners as well. So we were acquiring properties in Ottawa, or show and then other part of the Toronto as a partner, so give it to me straight family, friends who have a family and then my colleague said in Ottawa, a few of my friends, they want to invest in real estate, but the thing is, they didn’t have the knowledge and the capacity so they were partnering with me on few properties, awesome. Any student rentals out in Ottawa or no,
and you never went into student rental land. I had
one in Canada area in the high tech industry, but the thing is, it gave me trouble and then
the guy got rentals get such a bad name. I know Nick and I have had success with them. We still own them. So yeah, but most people just generally don’t like them. They’re not really that bad. If you kind of just relate to the students a little bit, treat them with summer, so I’m not saying you didn’t, but they can be the one of my favorite stories on a student rental is one time, Nick and I went to one of ours by McMaster and we look in the backyard and these guys had built a mountain bike course in the backyard. Like it was a really big backyard. And they had literally built one of those mountain bike courses with like all wooden structures where you can ramps and jump around and take sharp turns and
as long as if they don’t damage your property.
Yeah, well, we told them to take it down, like Hey, guys, let us take a spin on it, and then you got to take it down. Okay, so you’re buying properties, and what were you looking for? What was your thing always cash flow location, what was your primary driver when you were buying property?
So at the time, I was looking for multiple points, like one breakeven minimum breakeven, and then I was representation because I wasn’t too old to be just looking at the cash flow. So I want to make sure I’m buying Based on the history, the properties were proceeding, you wouldn’t imagine I had a conversation with one of my neighbor in in North York. She bought the property for $20,000 in 1970, something 1976 sounds about right. Yeah. And you know how much the prior property value right now
in North York single family home on no million something
1.5 million. Could you imagine, see boarded for 21.5 is crazy. Yeah, I know. But the thing is, he already donated that to one of these charities, to somebody living in third world country. They don’t even know that. They’re going to get this property.
So he’s going to donate like the proceeds of the sale or go to some charity to support somebody. Yeah. Yeah, that’s kind of cool. Yeah. So
So that was another thing. I was looking at it appreciation and also forced to appreciate the property I was thinking in the future getting into customer building. So I was buying traffic buddies with land when I was buying it in Greater Toronto Area, but in order whiteboard few condos and that single outside as well and you still like the condos they probably treated you well over the years I guess. I don’t know the Ottawa condo market very well. Have they been Okay, last three years it has a proceeding. Decent but the thing is before it was very flat, got it?
Yeah, you got all those Ottawa jobs out there man. Those government jobs they just stay on there forever. Talk about a stable income base of tenants. Yeah, you got government employees all around Ottawa. Just get that paycheck regularly. That’s right. I used to work for the government. So I’ve nothing against this. But I just think Well, that’s a pretty stable tenant base. And Ottawa, Ontario. Yeah. Okay. And then I need to ask something. Why did you come over to Canada? Like what was it about Sri Lanka is just standard of living for the education. What was it specifically that you wanted to leave? No, at the time there was a civil war in Sri Lanka. That’s why I had to leave well, so you get over to Canada, beautiful country. We Don’t have civil wars, back, didn’t want to leave for a little while and go back wanted to leave that almost happened but we were temporarily I think in the 70s didn’t Justin’s dad good old Pierre Trudeau put in didn’t the army and to go back over something. I’m forgetting my Canadian history now. It’s embarrassing, but we generally are very peaceful. So that’s cool. Yeah. So you you start buying these properties. And you still are buying because you mentioned you even picked up some multi unit stuff in Windsor Windsor, you recently got rid of all that stuff. I visited
that property only three times. And I made over $100,000 in investment. Yeah.
Yeah, I know. It’s funny with real estate. Once you get a bit of confidence around it, you feel comfortable buying it without even kind of seeing it. Exactly. My biggest beef without seeing properties with real estate investors is that they a lot of investors Tell me, Tom, it’s just about the numbers. Just show me the numbers. I know everyone talks about this. But sometimes if you don’t understand the condition of the property, that’s really well you can get yourself into a tough situation because the numbers can look really good on paper, but you don’t go The property you don’t realize that maybe that carpet that doesn’t look so bad and pictures is brutal, or some of the little details around the property really aren’t going to need replacing. And Nick and I got us into Nick, Nick actually, I think got us into the gym. He’s not here to defend himself. So I’m gonna throw him under the bus. He made us buy one property where the income looked really good. So we just bought it thinking that we’re smart investors at this point, Oh, my gosh, look at the numbers. Let’s buy this thing. So we buy this property. But then but three months in, we realized the condition of the washrooms were so poor, yeah, we need to pour in. At that time, it was like $15,000, which, which to us was the end of the world in order to make this livable. And so although the numbers looked great, this property could have easily bankrupt us in our 20s now, so I tell all investors hate the numbers do on an Excel spreadsheet, do them of course, and they do mean a lot. But you still do need to understand what you’re buying. So you need to have a trusty home inspector. Yeah, or someone you trust. Sounds like you made it up. With the Windsor multi unit though,
no, actually, as soon as I bought the property all the tenants left and then there was a flooding in the basement. I had to install a some poem and I went through all these trouble but the thing is, it was a headache for six months. And then I spent around $10,000 and no income and nothing for at least three months after we put the tenants and everything and then then things were breakeven for a while. And then the appreciation to go to Korea
you got appreciation in Windsor?
I did because I bought that probably six years ago. Yeah, okay, got it. And then rents have been have rents been in Windsor. And that’s because I was analyzing properties in Hamilton and Windsor because Toronto became a fancy place right people like you bought properties
to buy any more properties there.
Yeah. So when it was analyzing it, went prize in Windsor and Hamilton, it was a relatively similar, not that big Different, but the property prices in winter was damn cheap of like, I bought a per door like $50,000. And rent was $600 per unit 600 $650. So no brainer, right? So that’s how I got into Windsor. Got it and also it was an experimental project I always like to do experiment with their projects. So you learn with it and then see if you want to continue to do it. But it turned out to be good.
Yeah. So and the multi unit would you go into multi unit again?
Currently my 200% focuses on bettering so that’s why I put on hold on all my real estate project.
Yeah, but you’re not scared and we’ll talk about visiting in a second but you’re not scared of going back into multi unit.
No, no multi unit I think it has a lot of positive and negative side.
Bigger is not always better, is what I say.
But at the same time if you want to scale it multi unit is a way to go. Because then when you go to the bank after six units, that it’s on based on your personal income It is based on the building and the income right? Yeah but you still have to personally guarantee I know everyone tells me that everyone tells me that but then you still have to personally guarantee Listen, I’m a guaranteed but the thing is when they give you the mortgage, it’s not based on your personality,
but your liquid net worth has to be a certain percentage of the value of the building, or they’re not going to lend to you. I’m not too sure otherwise not pretty sure because I this one they didn’t.
So many units.
Yeah, I know. I’m all I know. And I hear that too. I can just say from everything I’ve seen that you can’t just go and say hey, this I want to buy this building the income supports the debt on it or the costs on it, give me the financing. I’ll personally guarantee there’s typically more to the story unless you have a really good solid net worth. To begin with and and a relationship with the bank. They’re going to want to say hey, you know, show me that you have some percentage liquid net worth support this project so if you’re going to buy a building let’s say $3 million building Yeah, you need to show that you have 1.5 million liquid not an equity and other properties liquid. Oh yeah. Well maybe some of the buildings that we’ve been looking at at a certain price points Yes, absolutely. Okay even in commercial so I didn’t go I don’t know it could just mean I need to meet your bankers maybe that’s what this means this conversation but OK, so multi unit Yeah, my biggest fear with multi unit just in general is that some people who make multi unit their first move because of what you just said, I say, hey, look, if you need to have repairs, you do get economies of scale it is one roof over multiple units. But if that roof needs repair, it is a very expensive roof. So for example, recently there was some big wind storms are not recently but a couple years now go now, some big wind storms and we know someone who had a building roof gets pretty much blown off now insurance did step in, but there was other stuff that ended up they had to cover their own pockets. And now you’re talking quite a lot of money. Yeah. So it’s of course You know, it does give you economies of scale, but there are you know, when there’s a problem, it could be a big financial problem. Yeah.
So going back to what you said, like if somebody is trying to get into real estate investment, I wouldn’t suggest them to go right away into outdoor, I know, what would you suggest? Now they need to try it out with a single family and see if that suits their personality, right? Not everybody can handle the tenant. And some people, like they run away from it. I know one of my colleague and one tenant, screw him up. And then he said, Never ever in his life, he’s going to invest in real estate, or even he’s going to advise his kids. But my kids, I always advise them even my son, I already wrote an email when he was 13. He already has a property in Ottawa. So when he turned into 18, he’s going to have this property under his name. Very cool. Yeah. So it all depends on the maturity of the individuals, right, as you said, like right away if somebody get into multi unit as a bigger of investment and then if they run into a problem that’s it.
Yeah. couldn’t agree with you more single families kind of nice to whether it’s a condo have a home, semi detached townhome, whatever single family means to you. It’s just nice to it’s easy to buy t to sell. Yeah. So if you want to like you’re saying stick the for sale sign up there, you’re out. It’s also easy to refinance. Yeah. Some student rentals can be tricky to refinance, we once had a bank. Let me get this straight, the bank would renew the mortgage on a student rental. But when we went to get some equity because we had quite a bit of equity in it, they said no, no, no, no, like we’re never going to refinance that property will will refinance it and you can keep making mortgage payments to us on the existing mortgage. But we are never ever going to refinance that. Yeah, that’s how it was a declared student rental on the way and it’s not like this was a surprise to the bank. Right. And actually, we had an insurance company once Send us a letter on a student rental saying our auditors have decided we no longer do student rentals. You have 90 days to get new insurance. Yeah, yeah. Yeah.
This is crazy. You know, because only very minimum percentage of the insurance companies do student rentals, right.
Yeah. The Now that we know Yeah, like if you’re listening to this and you need a contact we Rockstar know, the insurance companies doing it. And there are more options now but you’re right. For I feel like about eight, nine years ago, there was very, very limited doors. There are a few now now that will do it. Okay, so you you, you’re working in tech, you get laid off a couple times you’re buying rental properties. Do you when you get laid off the second time? Did you go back into the tech industry?
Yeah, I was designing mobile phones at Blackberry.
Blackberry, yeah. What happened with Blackberry, you choose to leave or were you laid off again,
that’s kind of what happened because blackberry was shutting down the Ottawa hardware division. So I got let go. But this time, I also have an expert of this. Exactly. The first layer of it was devastating for me and from Nortel. And then the rest of them were kind of was I will I was able to utilize those funds to buy more properties. Yeah. And then I became a private consultant. I was designing and Designing base station towers at Ericsson and then I went to us in chronic it as a service based company. I was there working and then I kind of negotiated with with them to get 20% pay cut so that every Friday I was off. So because it became to full time job with my engineering job and also real estate investment portfolio. And then one time I decided and also minor was investing in the real estate industry. I had this frustration, not being able to find repeatable trades and businesses in multiple cities and keeping them for long lasting
relationship properties were spread out Ottawa, Toronto, Windsor executive, others and other cities as well.
Yeah, like in this fall, so you need to have a team of experts in each city’s duplicated people but the thing is, they cannot serve let’s say you have plumbers, electricians, roofers, handyman painters in Ottawa, for sure. In Toronto. You need to find the same kind of people but the thing is these are totally new people. So need you need to form teams in multiple cities. So your experts so they could serve you need whenever you need need to find them for you to fix any things in your real estate.
Like the frustration that we all had and every time you find someone who’s good usually after a couple years, they go bad. Yeah, which is what we found, you know, you could have a great roofer and then they’re great for a couple years and then you call them and either the phone is just exacted or, you know, they say they’re going to show up and they don’t show up.
Yeah. So I had envelopes, envelopes with each city’s name on it, I’ll show and then the business card and then Windsor. I had all the business cards and also a spreadsheet with the tabs on it. Need each city’s name and all the contractors and contract, steer right? Even those get outdated. So this idea was always in my mind, I want to provide as an engineer your list or problem I want to provide a solution for this problems and also for if you look at the business owners For them to get these leads and establish that relationship there is no such a platform access right now for them to have these existing customers to contact them repeatedly. So the idea was there, but the thing is I was procrastinating because I was busy with my engineering job and real estate investment portfolio. So three years ago, I decided, Okay, I gotta choose a path either engineer continue with the high tech, or I gotta stop the real estate investment. And I decided to go with real estate investment. And I used my crazy person. Yeah. Everybody’s ears. Yeah, whenever I do something, I totally do something different, right. So I quit my engineering job and move to Toronto, and located in Richmond Hill, and I found that this technology company called measuring, were measuring enables the real estate investors and homeowners to find reputable trades and businesses to have long
lasting relationship. I know that sounds like the very corporate description of Brisbane. So now Give it to me straight. So there’s a I go on visiting and I can search based on the city. So if I want a plumber, let’s say, and I don’t know Asha Yeah, I can go on visiting. I can select Asha. Yeah search for plumber. Yeah and what what do the search results show me
so it will give you a list of businesses listed within our platform related to plumbers. So now so we learn and
that’s different than just going on Kijiji or Google How
so? Okay. So, let me explain you because as an engineer, it has been designed a lot of features that would benefit the public and also the business owners. So as a public when they come and search for bettering, business within bettering, so what they will see is list of businesses in that particular location with the logo and the business description and then when they click on it, they could see the reviews and ranking and logo pictures audio video that the business owners could market themselves. Besides that, all the reviews if you look at Google, right, Google, if an competitor doesn’t like particular business, they could create 10 gmail account and write whatever they would like to write and then it’s going to appear there forever. People do
that. Of course, I’m joking. I’m joking. Of course. I know. It’s horrible.
Yeah. So the way how our review process works, when somebody gives us reviews, randomly pick through cannot give reviews, they have to be registered users within our platform, and then all the reviews and ranking wherever it was given it goes through a review process and then someone just make like a some
bs account in your system and then just give like a horrible review that’s anonymous, like someone could do with a, like a great question
anonymous gmail account or some
sure okay, great question. So if somebody gave a bad review to business or We want to safeguard the businesses at the same time let’s say if somebody gives bad reviews we will question them you have to prove that at this particular business have given your business and they didn’t do proper Good job so as long as if they prove with the invoice and the pictures before and after for sure we will let the review goes to the publisher goes true
you want it to be on
exactly at the same time we don’t want mistakenly somebody giving bad mouthing about other business as well. And so we are learning all this and we are going to document all these and then we will do the artificial intelligence built into it so that automatically all these get the hat handed. Got it?
Yeah, because right now what you have a person which might be us someone
have University of Waterloo students currently working within our company, awesome. Two of them and RW intern.
Okay. Yeah. And they’re reviewing that stuff.
Yeah. Whenever the review comes through,
yeah, god ok.
So that is one aspect of it for the public. Right and Then we have this free feature called my virtual team. So it is a gift for real estate investors, honestly because it can Your face is starting to light
yeah less about the gifts. So basically there’s there’s more if you’re more with business for sure.
If you are a homeowner or real estate investor, lol So you could create, as I explained to you before, which my virtual team in any cities where you have properties and then add the businesses, you want to deal with them in the future, but these businesses has to be listed within our platform. So you could add, let’s say for example, if you add cleaner, cleaner, top priority, second priority, third priority, and then plumber, top first, second, third. So under old business categories, you could add three businesses as your first second third. So in the future, whenever you give an example you have a property in winter, you attend and call you a month the toilet broke down, and then you are going to reach out to him and you are going to login to your dashboard. Check your Windsor my virtual team and look for a promise and then you will talk to you first priority one because you knew he will do the best job for you and how do I know that that guy is going to do the best job because you would have done business with them in the past or somebody referred you So do you have added him to you my virtual
okay, but so I’ve never done anything in Windsor before. What do you mean someone referred me and are not using biz ring to find the plumber.
Yeah, you could do and you could then create this my virtual team however the way you want, either somebody recommended you, you read through the reviews and then you add them or you dealt with them in the past. You don’t want to miss them. So you just add them to your my virtual teams. So now you know the contracts and everything in your dashboard. Got it. Okay, so in the future whenever you need them, you could just let the UI and how I and the tenants and you an email is my toilet broke down. So you don’t need to go through Google and trying to find 10 people and then narrow down three people and go through All this mess right? So you just go to your dashboard and approach the first one everybody go and fix the toilet and you know the my property because you served it in the past and then he will just go and fix it.
You don’t and I guess if enough people are using biz ring Sorry, I know I’m interrupting here, you know apologize if some if someone if enough people are using visiting them if it’s somebody I know in Windsor who I trust, yeah. And they’re on your platform. I can see which plumbers they like, Is that possible? You know what I mean? Like if I know somebody in winter, yeah. And I’m like, Hey, I know, they know their stuff. And they when I didn’t know a few people out in Windsor, if they’re using your platform, can they can I see the plumbers they use because then I’ll just, you know what I mean? Because then I’ll just say okay, if someone’s using it, I’ll use them.
Definitely we have another feature called recommend. Business recommended businesses might recommend that businesses so we have a feature called this feature where businesses can recommend other businesses. Let’s say for an example you bought a property in Windsor and dealt with is a realtor and he is part of our platform and see me recommend all these businesses see like working with them OZ dealt with them in the past so her clients can use them so publicly when she recommends because you trust that realtor and then go and add this
service providers within your in my virtual team and you could use them and you’re the problem you’re trying to solve just so I’m clear is that before you kind of have to randomly go on something like Kijiji or Google
you could see reviews. But in yours there’s an opportunity to see people you might are actually know in those communities and who they are using. So that I could then see Oh, that’s the plumber they use in Windsor. That’s the electrician they using plumber in Windsor and so on. The problem I’m trying to solve in Canada or in the future in the US as well. To cite our market is to site one customers, business to customers and business to business. So b2b and b2c, where the customers problem is having relationship with business owners and service providers for long lasting relationship. So they don’t need to run around all the time whenever they go run into problems, right? For the business owners that it is a networking platform where they could connect with other business owners, and homeowners and real estate investors for repetitive business.
And so how would that work? So like Rockstar, Rockstar goes on biz ring and how do I connect with other business owners? I say these are Yeah, walk me through it.
So let’s say a rock star is listed within our plan. Yeah. So the people who like to work with you, they could recommend you at the same time you could recommend other businesses imagine
Okay, got it. So two businesses are basically saying hey, we we refer back and forth between each other. Yeah,
like you could imagine hundred businesses recommending wrong Start. So under hundred businesses rock stars logo and business link would appear. So it is more visibility at the same time people can follow rock star within our platform and then whenever rock star but rock star probably may not be a good example. Let’s say for example plumber, right? So whenever he’s down in the business, he could say okay now I’m this month I’m giving 20% discount. So whenever he updated his promotions, it goes to his followers as he flyers
got it and they get those via email or on the system. Through Yeah, and then their dashboard they’ll be so you’re basically creating a network for real estate investors that encompasses businesses and individuals with a with a real estate investing focus.
Exactly. So via it is a networking platform creating an annual think there’s enough of a business model here for you to grow this there’s enough real estate investors doing business that this is going to be something good for you, honestly, missing would be a gift for real estate investors. And at the same time, it’s a very useful platform for the homeowners as well. If you look at each homeowners are real estate investors, because that is their biggest investment. Right? So for them also, now, they could go on vacation, and they have all these contracts in place. So if something goes wrong, they could always call these contracts to get things done. So, and also for the business owners, many companies are selling lead as a public whenever they go to the aside, and I don’t want to name our competitors, but local competitors and us as well. Whenever the public type their frustration, or my toilet broke down or my electrical thing.
dogs running everywhere. Exactly.
So they take these leads and sell them to those business owners.
Yeah, sure. So we’ve all seen that kind of model
exactly in us. There is Company what they do is they even sell the leads just a bid on it. So not necessarily you will get the business but the thing is in order to build on it, you gotta pay for it. So our business model we don’t want one time fees and we don’t want to sell these leads we want to make sure it is that ecosystem we are creating where real estate investors homeowners can network with the business owners and service providers to be a networking platform dedicated for real estate Got it? Yeah,
got you just just sharing everything that you can search for on visiting made me think one time we were panicking I owned this one property if my brother in law’s ever listening to this he might kill me for even sharing this story of I gotta share it like we there was this one student rental we had about York University and I just don’t like selling properties. I don’t you know, it’s like we buy assets you keep them but sometimes just like you with the money, you know, you sometimes you have to Yeah, there’s family involved. Sometimes you have to do certain things, but most gets running around the basement in this finished basement in the student rental. It’s a beautiful basement we finished at IKEA kitchen at a we paid the builders have a walkout, like stairs proper stairs going out. So there’s two exits to great finished basement but this mouse starts running around and this girl down there freaks out and she has exams coming up. So she’s studying in the library and like madly starts texting everybody and emailing everybody, that there’s a mouse and you know, what are we going to do? And I remember we did kind of struggle a little bit finding somebody who we thought we could trust to get out there to take care of the situation. But ultimately, I think we might have sold that particular property because of that mouse was that was the straw that broke the camel’s back you know like get rid of this property is is too much but anyway, I and and and I don’t think we could probably I should bring my brother along here so we can rehash the story a little bit, but I think we sold a property over a mouse, mouse. I think it was literally one mouse. We got rid of the thing in the end of the issue but But yeah, I can see when you’re not close to the area to find somebody with referrals I see what you’re trying to do. So now you have been I know you’re down in the states you think you might even open this up one day into the states as well for sure.
Because currently we have launched it across Ontario. Ontario is the largest province in Canada once it is proven and get a lot of traction. We want to go across Canada and then move to us.
So now you’re basically seeding the system with different businesses and starting to promote it and get users to start using it like it’s open in life. Oh yeah. Like
we have launched it last year in November and then we will fitting the product to the market and from March we were ramping up our sales and marketing activities now we got over 11,000 businesses listed within our awesome congrats
that’s great. Yeah, okay and so so anyone listening to this they would go to biz ring calm is that word? That’s right, Mr. And
then they could go in there’s like a free version of the app for businesses. We got to kind of subscription one prob is during a live And then promising our gold promising a light, they could market with three businesses, but they can’t put their videos, audios and website backlink for SEO purpose. And also they can update their promotions either. So it’s a stripped down version of it, but they could experiment it and they could get the ranking and reviews and stuff like that. And also, they could get recommendation by other companies as well. And then promising a gold compared to all of our competitors. Our charges is fresh enough charge, like $27 per month, less than a buck a day.
And then for individuals,
individuals per category $27. Let’s say for an example, I’m a realtor, I do home inspection and
pest control as well. So I may go under three
categories. No, so that’s an individual business. What I meant is the individual looking for, to go in, it’s already absolutely
free and then they could become a business owner and create my virtual team and give back And reviews everything.
So now I’m just thinking and just trying to think of just different, you know, with any business growth, there’s different challenges and stuff. So I’m just trying to brainstorm some of the challenges. You’re trying to get scale. Now you’re trying to get people. That’s why we’re talking. That’s right. You’re trying to get visibility into biz ring and see if you can kind of grow this thing to the point where it really is common place with real estate investors. Correct. Sorry, you’re trying to get this to the point where this is just like an everyday tool for real estate investors and or homeowners. And so you, you do have different competitors that you have to face because you can’t you said homeowners a few times now, because there are homeowner type stuff. There’s like the home stars is one of them. There’s a bunch of different ones that are kind of doing similar kind of thing.
Yeah, but the thing is, because I have analyzed
and I’m not trying to shoot down by any means I’m trying to have an open discussion of your business.
Sure, homestretch they are in the industry for a while. But the thing is, it wasn’t created by engineer and real estate investor. Got it. So that’s where
think your engineer IC You smile. You’re one of the engineers smiling when he says, where’s your engineering? Right? He’s
a proud engineer across from us. You know,
what I’m saying is because I didn’t see the marketing opportunity, I saw the business opportunity and the pain, right. So it is a solution and providing out of my own frustration and the pain shared by other real estate, investors and homeowners. So that’s where I’m combining the real estate investment and the engineering knowledge to provide a great solution for the public.
Yeah, got it. And
so currently, we have a promo code, Rockstar as 01. And so if they use it, this promo code code will expire by end of the September month, and they could get additional one month free. As of right now, promise ring or gold is five months free. And then with the promo code, they could get six months absolutely free. There is no contract nothing Whenever they want to unsubscribe, they could unsubscribe the service. Okay,
if they will stop there we’re going to stop otherwise people anything this is a big promo for the bit we’ve done a good job we got it out there you got all your different levels if you’re listening to this and you want to and we did want to promote it, but we’ll wrap up the talk on during now, but we will put that promo code so thank you for doing that rock star 01 will put it into that description of this podcast episode so if you’re listening to this you can go to rock star inner circle calm forward slash podcast and in the description of this podcast episode will have that promo code in there. So thank you for doing that. So this is exciting times for you. You You know you started in tech we kind of have similar kind of journeys because I started out in tech exact, um, I decided to walk away. You You walked away?
Yeah, I think we share a lot of common experience I guess because we lost money in the stock.com
and then went into real estate investment.
Totally my journey after the stock market crash I went I started trading options. I started putting puts in calls and getting all into this. And at the same time, I started developing different websites, one off websites on like five or six different websites on different stuff. So yeah, I think you need to go through that just as like the entrepreneurial journey. It’s a straight path, you know. And, yeah, and then similar to you feeling like you were satisfying and need that real estate investors required. It was 2006, when Nick and I said, Hey, you know, what, where are the people that are going to just stand by the investor side, and like, go on the streets and help them out. So like when they’re, when there’s a tenant problem or two, I don’t know if you know, if I shared this with you. We used to go to the landlord tenant board with our investors, because we said, hey, look, we’re with you forever. You have a problem on any of your properties. You call us. We will come to the tenant board with you, Nick and I used to go and represent investors at the tenant board on their behalf. So we’re like, What’s the situation? Okay, tell us. We’ll meet there. We’ll go and in front of the adjudicator, Nick and I were speaking and then I guess it was some time ago now, the adjudicators, I guess, caught on that, like, that wasn’t on our property. And we were not paralegals. We were just these people that were like standing there. Like we weren’t the homeowner ourselves.
Like these days. You cannot, you can’t.
Back in the day we were doing that. Yeah. So Nick and I were like saying, no, it should be this. And this educators never challenged us. And we we honestly, we did not know we couldn’t do it. We just thought the we didn’t want new investors who are new landlords to be scared. Yeah. So we’re like, Hey, listen, we’ve been through this ourselves, we will come with you. So we really were doing it just from purely a service. We didn’t know that we shouldn’t be doing any of this stuff. And now you have to be a licensed paralegal property manager or a paralegal federal property management firm and that kind of stuff.
Even like how many months ago probably, beginning of this year, I had to evict a tenant in NFL for one of my real estate investors. He lives in Ottawa. So he didn’t do anything at all. I took care of everything for him because he’s my investment partner, right? So that’s a benefit. What do you guys doing also, like for investors who wanted to get into investment and collaborating and involving with the people who already have done that it’s less painful than
it is less painful and that’s why I believe Listen, you know what we we we said we wanted to have you on here to chat and share your story and part of the reason for that is we do get approached with different people who want to come in here and share their stuff and it’s not really a right fit but we do believe that you know, if if a bunch of us are out there trying to help each other with different things like your platform busier and so we want to try and spread the message and see if we can help you directly for you growing this business and investors as a whole and let’s see if we can kind of raise all of ourselves up together. But that’s the whole idea behind Rockstar like yeah, so it is a pleasure to run into you. I’m really pleased that your son how old your son right now. Do you have I have two to 13 year old son and who else 11 year
old daughter does she have a property
is waiting to become 13
You may set the precedent.
But yeah, excellent. Thank you for sharing your story on here. Thank you Good luck with everything you’re doing. As you develop this business and stuff, let’s keep in touch, we’ll connect share Yes, kind of stuff. And yeah, keep doing what you’re doing. It’s a you know, it’s a long journey. And if we can support each other along the way, that’s even better. So thank you for this.
Thanks for the opportunity. Tom. I it’s a pleasure to be here in your office and going through
my office. It looks like a storage room right
now. And it’s amazing. If you are working to tell your office will look like that. I know if you come to my office as well. It’s very good. Yeah. And yeah, hopefully we will chat again and you will see all the progress that’s happening. And then I’m determined to make this ring as a great success. And another Canadian story and see what happens. Oh, yeah. Awesome. Thank you. Excellent.
Thank you. Hey, everyone. So hopefully you enjoyed that. And Jacqueline mentioned a code for using biz ring. He has graciously extended that code to the end of the year. So I think on there he sends a set says end of September, that code is going to be valid until the end of 2019. So if you’re listening to this and that’s something you want to check out, you should know that. So thanks Jacqueline for coming and sharing his story. And if you are listening to this and you want specific real estate information for yourself, remember Rockstar inner circle calm is the place to go to. I think that’s it for now. Until next time, your life, your terms