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June 7, 2021

One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast

Startup Talk Podcast with The Startup Coach
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One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast
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One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast

One Development Corporation Founder Jason Ferreira joins the Startup Coach live to talk about how they are changing the way people can invest in real estate and the challenges of launching a business.

Investing in the Toronto real estate isn’t just for the rich any more. With One Development Corp you can invest in the Toronto real estate market for as little as $500. They are currently offering preferred shares with 10% dividend. With investments being TSFA/RRSP Eligible.

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One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast

Direct from the six, world renowned Canada’s largest city with Canada’s biggest thinkers’ visionaries and hustlers. This is Startup Talk featuring the founders’ funders innovators and community leaders who’ve led Canada’s Startup ecosystems. Right here in Toronto. You’ll hear the challenges. The failures the successes Toronto Startup. podcast gives you the full story. Direct from the entrepreneurs and influencers move made a difference now the host of Startup talking. The founder of Toronto starts Startup coach. Welcome back to start of talk. I’m your host to start coach. Founder of Toronto starts in with me. Today is Jason Ferreira. The founder of one development corp. and they’re changing the way property acquisition and real estate redevelopment Model is happening in Toronto. Welcome Jason. How’s it going craig. It’s going great. Why don’t we start with what is One Development Corporation? Yeah so. I formed one development because I saw an opportunity to do things a little bit differently in the in the market the Toronto real estate market specifically so a real estate development Startup Our focus is primarily modern contemporary homes in the GTA. And so, what we do. are we take these dated, Houses transform them into these uber, Cool homes And I saw a bunch of the aca look book on your site, in back in the seventies look book was a whole different thing but it wasn’t a bad thing?  These homes look great! Like they’re nothing I would normally see. Yeah, and that’s and that’s the kicker Not only for that design style of vomit architecture. But it’s very desirable. There’s a huge demand for these. And yeah you. You’re starting to see some pop up, but you don’t see them often in knots because you know this style has relatively. It’s relatively new in Canada You know you a traditionally find you know. Modern homes have been around for over fifty years. You know and so but generally in warmer climates California for example or Florida or you know Mediterranean etc. and that’s because You know they have the temperatures there to build those sets of houses and so now we’re able to build these ultra-modern houses here, because the materials have gotten that much better so you can get creative in design style. You don’t have to use the typical brick and mortar type houses. You can do. A lot of this at prefabricated paneling stucco and so you know. These materials are well designed now to sustain the weather conditions. Here in Canada energy. Conserving windows and doors. Things like that so you can now that they’re you know. More readily available that demand for him is very high and so that’s the area of the market that we’re trying to tap into, so I like to start with who the entrepreneur was growing up. What were you like as a child? Where a handful for your parents were studious. where you into music back. Then a sports socializing.

Yeah, total troublemaker. Of course, Momma’s boy at home and then went out with the boys it was all trouble, no. It wasn’t so bad. Typical kid You know I was a quiet kid Somewhat of an introvert. In the sense that I was a thinker a dreamer if you want to call it. That always curious You know always with my hands. I was the kid that would break something and try to put it back together in things like that, so You know articulate that way in you know for example. As I got older, I started to get a little bit smarter and craftier with fixing things and building things that once tornado my mom would literally call for me versus my dad to come fix something. So I was that kid who really was able to put things together and it started off you know it was kind of like an early sign of what brought me to our and today so again. I big thinker. you know I have a very handy. I am big on putting things together business specifically and that’s kind of what brought me into the home building business but yeah, I mean you know. I got into everything from skateboarding basketball cars and bikes again. I was very hands on guy. I was a total gearhead Tinkering with all that sort of stuff so again. I just you know. Was this guy that you know liked. We’re working on. You know challenges in putting things together in really building. Things put stuff together. At what point did you know. You want it to be an entrepreneur. Run your own business. Well, the question that’s kind of what brings me to you. Know what. I was like as a kid and I think this relates to having that control I guess in the sense that you know I have this guy, or this thing is broken and it’s me that’s basically you know putting it all together and taking it upon myself and I see entrepreneurship as that.

One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast – 00:05:05 – 00:10:03 

You’re someone who has this idea. You’re see a complex problem and you know you’re bringing all the pieces of the tools together to make this thing work. And so, I think that start. That’s where it kind of started Once I got into my career path which was corporate sales, I spent Fifteen years of my life forty years of my life in the fintech industry. fifteen years in corporate sales eventually made it to the vice president. Position I looked after our Canadian sales division. I was able to generate in my tenure there I think we’re somewhere over about one hundred million in revenue. I was able to access a. I think we were around thirty percent market share. When I started we got upwards to two ninety percent market share in Canada in our business and so Yeah I mean that was really an opportunity for me to kind of continue on that path of bringing things together you know. I was a vice president sales, so I had to network with all the various departments clients anywhere from you know software development to product development finance project management. I mean you name it. I was that guy that was bullying it altogether to you. Know make the successful sale and become a generate the prophets in success that we needed to help build a company. Can you know that was You know really my experience over the years there and then you know that’s the entrepreneurial side eventually kicked in and I decided. Hey you know. I want to get into the real estate development business and so I just take a step back so even prior to me starting in the corporate sales I was already in real estate. you know somewhat. In real estate development. I was in the business of buying rehabbing refinance renting and repeating so that the be our model where you acquire these downmarket homes, and you know I’ve got the again you know tinkering around. I didn’t have the resources the finances to hire contractors and so. I really must do this myself. So, I gut these houses Right down to the bare bones You know did all the installation plumbing electrical drywall. Flooring cabinetry carpentry You name it. And these are things skill sets that I developed from just my hands on approach and being able to put this whole thing together, so I had a successful start in real estate, but this is where the corporate path came in. It’s like you know. This is a dedicated job. I had to do one or the other. And so, I decided to take the corporate craft now fast forward. You know. Twenty years later You know I kind of you know. Did everything that I set out to do. I shaved all my goals in the corporate in the corporate world ladder. I’ve tried to lose the passion forward desire. And so. That’s when I decided. Hey, let’s get back into this real estate thing but let’s knock it on the park. Let’s take the central whole new level. And that’s basically how one development started. I’m going to talk about opportunity. Cost in a minute but I you know as a team builder and someone who has done that whole finding the right partnerships and teams. You know finding the right co-founders or partners a team member especially in your business can be crucial. Can you tell me you know how you met your key partners outside? The normal hiring process was it. You know doing regular business. What led you to conclusion at. These are the people. I trust to work with to help me. So, I think I probably speak for most entrepreneurs The first people go for you know friends and colleagues or family So case it’s calling Established many good working relationships with a lot of different people over the years and so Right now. I’m in the process of developing cultivating the management so right now on the sole founder of one development still in the early stages of bringing on key players So yeah, it’s right now it’s all about partnerships and my biggest and most important is in baca corporation so in boca corporation is a small firm that assists entrepreneurs to help build and grow their businesses. So that’s basically what they’re that’s my main partnership a lotta years of working experience with them. They formed this company to again. Help entrepreneurs like myself to build their companies. So, they’ve got many years in financial planning They know how to build. Companies have supported many mergers acquisitions. So there really are top gun to help us. Analyze financial positions Market trends strategies improve casual profits and really help accelerate growth. So, this you know. I think is the most important part of our business in really differentiator in this market space. Because nobody’s really taking this level of Strategy to help build a company and so our partnership with him.

One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast – 00:10:03 – 00:15:06

Barca is number one in helping us. This business I mean we can take you know they’re experienced combined with mine and apply this to essentially any business. My real passion love is for It’s for real estate development. So that’s what we’re at right now you know again. We’re growing so we’re bringing on a number of key players right. Now we’re bringing. Our focus is to bring on a board of advisors or directors. You know someone who house deal of experience in the development world so this will help assist us. You know to kind of expand and move beyond our current model construction project. Managers are going to be key elements as well so we’re already outlining those individuals. I have a strong relationship with our sales in sales and marketing director. She’s going to help us improve our branding assist within the home designs and the sales at Sarah. So right now, we are very well positioned to grow this company but of course we need the funding and the resources to get this growing but our plan in our team our partnerships are as solid as they get in. I mentioned opportunity cost. I’d like to say opportunity causes infinite. Meaning if you’re working on this you’re not working on any number of other possibilities. You had what sounds like a great paying job. You’re doing well you know. Why jump back into something like you were doing before. I jump back into this versus any other opportunity. Yeah, so again. I touched on a bit of it before. I kind of decided to go down the corporate path and you know just kind of lost that desire that passion and I think again. This comes down to the entrepreneurship Side of me is that it really wanted to create something to do something for myself. create an opportunity. You know that’s different than what else is out there. So that’s really the main driver for you know where we’re at. I just needed to do something different. I’ve always had a passion for real estate development. I just kind of decided. Hey I you know. The corporate job sounded nice. You know travel and you know we got to You know do. All sorts of exciting things in met a lot of people traveled a lot et cetera and so This was an opportunity for me to do something on my own. So, let’s get into One Development Corporation. What exactly do you do?

yes, so Like I said we. We take these dated houses and transform into these uber. Ultra-Modern homes. Our models simple We’re buying these older houses. generally, you know there. Are these fungal south houses within a right size lot. there is an abundance of these homes. That you know. We have an opportunity to acquire we are purchasing houses. We are them down in. We essentially rebuild them for market sale. And so, the hot ticket You know the demand is for these modern homes and again. That’s the focus of the style of builds that were going to be competing in that market space.

I mentioned the uniqueness of the homes I’ve seen in your look book and the stuff you worked on Who are those homes for, who’s one development core customer. Who buys your homes?

Yeah, so basically were We’re targeting a home for market sale. So, we don’t build for. Let’s say a client or someone who’s looking to buy a home we’re targeting you know clients or market buyers who want the ready bills modern home. It’s market sales so you know through our Market research we know exactly what size to build We know what the right price point is. We know what extra finishing’s people are looking for so again. We’ve understood that there’s a high demand for this style built. So that’s few were building this for We that they’re generally business professionals know people that know what they want. They want the mark they want the modern style home. They wanted built. Turnkey. ready to go You know People who maybe already had their first phone their first fixer upper and now they have the financial resources dual income. Hey you know now. Let’s get the dream home You know. I don’t want to sit around for a year or two threw him some other developer waiting for it to be built so we’re really catering to that group to have a ready to go Mark sale home now.

The pictures I have seen they’re designed Interior designer and look incredible. Are they fully furnished? How a what comes with them.

Yeah, so what we do that. That would be more on the sales side. I mean we met furbish the health obviously like a staging just so people can get an idea of layout and how they can use your furniture to fit in that space but basically Yeah it just comes a turnkey generally One of our plans is that will you know we’ll come up with our design. We know exactly what people are looking for. But let’s what about six to seven months into the project once we’ve kind of gotten through to the framework the exteriors kind of all finished.

One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast  – 00:15:06 – 00:20:06

And now we’re going to start completing the interior finishes. That’s when we put the home up for market sale. We allow the market by then to choose callers flooring depending on what suits them. We could rearrange some of these spaces in in the house. One of the major features that were really looking forward to is developing these rooftops. Terraces so creating you know separate spaces you know so you can have in the kids playing out in the backyard and you know mom and dad can be up on the rooftop having a drink so again. We’ve really done a market research. We know what people watt again these types of market buyers can look for the home space and even more so now because of the pandemic You know the demand for single family homes has really grown and even more so for this style house.

Toronto real estate is always a hot commodity uneven down markets and whatnot. But it’s out of reach for most people.  What unmet need are you filling? What problem are you solving?

Yeah, so first. Like I said that demand Were meeting a demand. Not only for the Detached single-family home but the modern home. I think a differentiator. What we we’re doing is we’ve created an opportunity for people to get in on the market in a different way, so you know someone who maybe has the seat capital. They want to invest hall. But again, it’s gotten so expensive. They don’t have the resources to get there. So, what we’ve done is we’ve created an opportunity for people to access the market through us and so they can essentially invest in one development. We do all the work for you. The other areas creating an opportunity for people who have the resources. But just don’t want to deal with the headaches of real estate investing acquiring home dealing with contractors maybe renters etc. so we’re basically removing all of that out of out of the equation and we’re handling the whole investment strategy for you, so these are the three main areas. I think that were that. We’re providing we’re solving for You know one is the market buyer into is the real estate investor. So doing something like this. You know. I mentioned this kind of early when we’re talking about the right partners but news of this good network and a high-quality professional you know. How do you develop your networks? Each is contractors and the right partners. Know exactly what what’s what right so again. I think this is wherever my experience in organizing. teams You know. I’ve worked with many different groups in my corporate years. I’ve dealt with different You know contractors and suppliers. When I did do my You know development in home rebuilding and so you know. I know exactly what to look for. Because worst specific in what we’re trying to build which is which again are modern homes. We target specific home. Builders who focus again on that who have experience in that market space so architects’ engineers and of course the trades people who know how to construct these things, so I’ve done You know extensive market research on who. Those groups are combined through my network of home. Builders’ traits people architects’ engineers like. I said you know combined. They’ve built hundreds of modern homes across the GTA. and so, you know. I’ve done my homework and you know done. You know back on them and see what their experiences. I’ve looked at homestead they built. You know maybe three years ago five years ago seven years ago you know. Let me see where those houses are. Let me see the condition of the men. You know So that’s how. I kind of evaluate the quality of workmanship in what their experiences so that all being said You know am very good at developing relationships and you know kind of understanding needs end and quality workmanship in that regard. So can you tell me about One Development Corporations process for deciding. You know where what properties the by and then modern architecture is easy to say but how do you choose the right architecture design right okay. So again, you know this is where a prior to launching one develop in creating or business plan. We did you know very You know we targeted our market research in specific areas so first We have to start with. The resale value is going to be you know. Can we build this house in an area that we know who’s going to sell for the you know achieved targeted price? And so, we’ve done that so that’s number one. The second part is okay you know. There’s you know houses and lot sizes of different shapes and sizes. What can we build on those? That’s number two and then the third part is You know getting you know appropriate. You know house at the right price again. So that we achieve our end value and make it a profitable sale so we number of things to ensure that were you know one can have a successful sale to were building the rights that size homes and three get a party which is permeating for example.

One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast  -00:20:06 – 00:25:00

That’s another more important area You know some neighborhoods are more difficult than others to get a primitive ruble so that could be you know pose a huge challenge so also altogether you know we’ve done extensive market research in what types of streets will type of houses that footprint that we need to build these homes. How long does the process take from deciding to do a new project to the sale and or final deliberate? Because you know sale. Good happen before finally. Yeah so, we acquire a home. I’ll we generally take about three to four months permitting process. So that’s usually the biggest backlog in what determines how long it’s going to take rested thing completed in final sale so generally about three to four months from there and then about another ten to twelve months in building so all in all you know we project. A build the acquisition to sale cycle within fifteen months so if everything goes according to plan Were able expedite the project you know. We tried to obviously achieve a much quicker market sale. And like I said were working towards Doing premarket sales. So, if where you know everything is going according to and you know. Let’s say six or seven months into the project. We’ve got the whole exterior and we can move onto the finishing. We’ll put it up for market sale and try and get that premarket purchase Deposit so that enables us to say okay. Great we’ve got this on the books You know, or it should be on the books within the next five to six months. Let’s get onto the next property. We can sort of get now get into our business model that we’ve developed which is basically you know. Continue to buy and sell these houses across. GTA over the next five seven years. Yeah, and that was. My next question is about the business model. What is it looked like? What kinds of returns are using break? So basically, we’ve created a built cell cycle that sees thus completing about twenty-two home builds over the next five to seven years You know once we get to about year three to four will be in a position where we’re either buying or selling a home every two or three months so it’s a very well-designed business model that we created based on Again it really depends on the market. And what’s going on What are we machaca. and on net profits of anywhere from ten to twelve percent Per home built so it’s a really lucrative business and you know if done right which were very position to do You know we can We’re going to build this into you. Know large scale development company over time. You know we’ve also looked at a different other contingency as well to make sure that y you know restate profitable. We stay in the business. We can achieve all our goals so were always evaluating a market in economic conditions. So, I’m sure a lot of people are wondering listening. Probably going to say. Well, what’s what you know. The markets kind of inflated what if there’s a correction so things like that where we’re on the ball in that regard so you know world is looking at what’s the worst-case scenario, so you know. All the market looks good right now. The expectation is that prices are unlikely to drop but you know you have the other day areas or saying you know this thing is going to crash there’s going to be at twenty thirty percent market correction so we’re already bulking in contingencies for us to be prepared for those sorts of things. So, we’re still in the game were still profitable So you know we’re always evaluating what’s happening in the market We also look at other avenues within the space of how we can do. Different types of bills may be that are less aggressive so for example we can save on h. s. t. so CRA will charge homebuilders hst completing projects that have extensive changes of ninety percent or more. And so, you know if we’re in a downmarket period where things are a bit slow. You know maybe market sales to build a new home. Aren’t there we can do maybe smaller renovations and so on and so we can build under this ninety percent criteria so we can avoid paying. Hst so in those are just a few examples of contingencies and things that were planning for all the time and threw myself in partnership within Baca like I mentioned earlier were always evaluating market conditions and ensuring. We’re profitable and we’re in the game. Were safe are investors are safe of course So again you know. We’re very well thought out Operation managing risk and talking about you know managing risks around market is one thing, but I do manage risk for things like lumber prices. We’ve seen some drastic changes in the louder around that area labor strikes and things like changing workplace rules around covid saw again.

One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast – 00:25:00 – 00:30:01

That’s the contingencies really. Where we you know. We bulk things up. Be conservative on our building costs so for example. We have a per square footage. Cost knows. We’ve kind of you know up to what our expectation that costs should be so in the event you know materials or cost you. Change was already positioned to absorb those types of costs. So, you know when. I said that are net profits around ten to twelve percent. That’s on the on the high side low side. It could be seven eight percent so even though we have to now account for a greater cost and materials or labor strikes. Are we must carry our costs or our loans for an extended period of time? That just eats into you. Know a bit of our bottom line but we have established a business model that still maintains profitability. So, we’re good in just about just about any case and so when you know right now. We’re obviously trying to generate capital A good part of that raises not only to help us fund the projects but it’s also to ensure we have that flow so again we’re always looking at mitigating looking at our business model to make sure that were in our state. Were safe in good times or bad so with covid. Is there even more demand for homes in Toronto versus condos and apartments. You know Bad and you know. Saddest things have been with covid and the pandemic on the bright side Yeah, the demand for single family homes as definitely gone up. people are trying to get away from Condos or tight spaces you know these smaller homes and so that kind of you know worked in our favor in that. We’re talking in to where we were already planning to tap into that side of the market single family homes. You know people that maybe want to stay in the GTA, but the options are known are limited. There’s not a whole lot of these. You know bigger open space. Modern homes and so Covid kind of you know helped us in that regard because it really increased the demand for that type of Market buyer people want more space quality-built homes which were certainly Able to provide better air circulation so modern contemporary homes really provide that if you look at. The interior of these cells is basically wide open. A lot of natural light so exposure to the outdoors You know that feeling of you know. You’re not so confined. You know a lot of kind of traditional style homes very compartmentalized you have like your dining living You’ll have this kind of crappy little room in the front of the house that nobody uses. Everybody walked by when they come in so stuff like that. You know we’ve taken a real creative approach to You know the home space and making sure that it’s open the rooftop terrace. Like I mentioned again. You have these kinds of you know different areas in space Where you’re outdoors. You know you could be up on the rooftop with mom and dad and the kids playing in the back and you know you have your own space away from everyone so modern homes really provide for all that so again. You know this whole change in Market needs really. You know Has landed in in our favor. I’ve always wondered why there weren’t more a rooftop patio soon. Just struck me as a complete waste of space now understand in Canada. We have snow and we must think about snow removal and wait and all that kind of stuff, but it just seemed like an obvious no-brainer and now again with covert. Everyone’s thinking about not only open spaces but more separate spaces in the that people can go to so you heart going to choke your kids because you can’t get stand face. I liked the idea of their parents on the rooftop patio and the kids in the backyard and then you’ve got three open spaces in the house that people can go to it so important nowadays more than ever because it seems to be at home at least while yeah exactly You know but overall, it’s just the It’s the differentiator. It’s something different and unique. And so, like I said you know where you saw us to the traditional style homes at. This is really a game changer. In that regard. So yeah. I you know as far as covid concerned I like I said. Even the air quality is much improved. The air flow is much better of the systems that we’re using etc. much more than so it really falls in line with what people would want in home now, so it looks like a Great Britain business and you’re talking about changing how way people get involved. So how can people get involved in best. Is it project based company-based investing? How does it work. Yeah, so it is. Anyone can get I get in on it. And that’s why we designed this thing in the way that we did.

00:30:01 – 00:35:02

Because you know whether you’re a small investor large investor you can invest for as little as five hundred blocks. You can be credited investor. You could be a high-net-worth investor. Anyone that really has an appetite for real estate but just doesn’t have won the resources to maybe invest in property. cause it’s so damn expensive or to you just don’t want to deal with the hassles of you know. Investing in a property were basically taking. We’re doing all the late work we’ve done. All the market research were building a quality market product. And you can get a very significant. You know Return on your investment and be become an equity shareholder in the company. So, I think that proves Offers a lot of value and again this is something that’s not available at least from my finding in this market space Yeah you may have developed. I kind of you know doing their own thing with these large projects. And then you have you know. Builders’ investor investors and. They’re doing their own thing. So, on the outside if you want to get in on that side of the market through. There isn’t really any opportunity for you to do that in that sort of what. That’s basically what we’ve created is a niche in this area of real estate development building where you can become an equity share owner shareholder in our company. Yeah, you’re currently running equity crowdfunding campaign with one of our regulars Equivesto how’s that going very well We’re happy with equa bestow They’ve got a great team of people working with us and so so far so good We’ve already reached thirty percent of our minimum five hundred thousand dollar raise. So that’s great You know we’re trying to Get up to seven fifty but if we can get up to five hundred thousand that gets us in in the game, we can acquire our first property and start to move things. Or you’re offering something. I haven’t seen before Preferred shares ten percent dividend for three years. Can you tell us how that works? Yeah so, I think again another differentiator in what we’re doing very different than the traditional type of offering So what we’re starting off with to get people kind of comfortable with us is a classy, preferred share offering. That’s valued at a dollar per share with a ten percent dividend That pays quarterly and that’s a commitment of three years so during that three-year period. You’re locked in but you’re going to get a ten percent dividend After the first three months, so this is something. That’s uncommon. So, we’re at least you know working with you in a way that you can you know commit in a in a short term Then we have a common share offering of three to one meaning you get three common shares for every classy, preferred share so you divide the one dollar. Preferred share Prefer by three. That’s thirty-three cents. A share and that’s at a discounted rate of thirty percent based on evaluation of ten and a half million after five to seven years so based on a discounted cash flow analysis. Your share value. Today is worth fifty-four cents. So should we achieve our goal of completing twenty to a home bills within five seven five seven years Your share value will be at fifty-four cents per share again. We’re trying to get create incentives for people to jump in through our share offering. So that’s at a discount of thirty eight percent so what what’s great about. This is that look. You know if you’re not quite sure about us you know you want to kind of wait things out you jump in on the preferred share offering and then after the first year two, we release our annuals. Our financials you can then look at. How well we’re doing if we’re performing based on what we had you know Said from the beginning. You know we’re going to start with one house at first year by year. two three. we’ll be in a position where we’re doing two to three homes every Sorry, we’re doing a home every build cell cycle of every two to three months and then you can say holy crap. It you know Jason and the guys that development Are doing well. You know I want to convert me for. I show two common share and so were. We’ve created this offering free to do that at any time during that. Three-year period. So, you know get your ten percent dividends over the first year to and then you know before your three years about to expire. Look at the financials and go for the long haul and get the big reward on your investment. Apparently, you can invest using TSFA or RRSP and or your investments are TSFA an RRSP eligible. Can you explain how that works correct? So, if you already have a pre-existing jif. RRSP echo development work with a company called pacific. I can’t remember the name exactly, but they are. I trust company that were working with so you can move your investment and invested through the trust company. There’s a small fee to do that. But you know you can move a portion of your money over there wants.

One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast  – 00:35:02 – 00:40:14

Your money is in with the trust company. Then have the option to Keep the full investment on under preferred shares Over year two years again. You want to move to common shares you can put a percentage of your RRSP into the common shares the other portion in preferred shares and that’s what the cash investment is wall so at any point you know if you put in you know. Ten thousand bucks into shares Again after two- or three-years things are looking good. You can then say okay. You know what Jason. I’m going to take five thousand back at the other three years but I want to convert my you know the remaining five thousand into common shares a writer for the next five to seven years so we’re very flexible that way And so we think that is very interesting because again people may not have the cash to invest. So why not go. The tax-free savings wrote and used your pre-existing investment and work with development. People want to find out more and you know you went through a lot of information there. Pretty fast which is great. Thank you how people can find out more on echo. Vested dot com. Yes, hundred percent So go to their page are offering as there We kind of gave you a kind of a brief breakdown of some of the things that we talked about the offering our business model in our projections. And so that gives you kind of the highlights but they get the details of our business plan. Our financials are modeling etc. you would need to register so once you are registered You then can invest and access all the information that We talked about today any questions you have. You can get my phone number. My email is in the offering page vessel so you can get all that information There you can contact me at any time. You have questions about the discount cash flow method and other things. We’ve got videos up on our website and YouTube. We’ve had lots of people go through that kind of stuff so understand That whole process because it is confusing, and you know it is a name even for myself You know Like I said by our main partnership is in Baca and again. They have years and years of businesses and helping entrepreneurs creating these tetra share offerings and so you know all the calculations and the of nuts and bolts behind. All. that is something. I don’t even fully understand myself. So, you know these guys are you know. We have architects in two ways. We have architects in the home building. Space and an architect on the financial side brilliant team they’ve really done a tremendous job in putting this offering together and like. I said you know. This is a very creative offering in a most companies. Don’t offer a preferred share offering. You know your kind of tied into the common shares and you don’t know what’s going to happen over the five seven years and so the preferred share offering is really kind of get you in the door and you know. See what’s going to happen over the next two three years and if you really like what we’re doing, and you know where us were successful. Where were making money, we want you to join in on not as wall become an equity share owner of the company and You know come and take this wild crazy ride with us and help us redevelop. You know the city of Toronto super modern homes. You have any tips for founders. Who are just starting out? I do. I think you know the biggest thing is obviously is you know again against is developing the right team Working with people that you trust in formulating you know those cultivating those relationships and you can go. Networking is huge You know in my early days. I would talk to anyone calling everyone anyone that you know. Make sense to helping me form. This company You know maybe you get one door calls in your face, but that one door could then lead to another door and you just kind of keep moving forward. And I think I speak for most entrepreneurs. Look this is not for everyone It’s a lot of long hours hard work and you just must keep going. You just don’t give up. Keep pushing forward and so you work you know network with the right people to help build your business My years of experience in the corporate world was based on that. I had a great team of people that will enable me to be successful, so You know partnerships relationships your team is going to be year you know is going to be your support system to help you build your company and get things moving forward great advice. I just put the link to the look book in the chat room. And I’ll make sure it’s on the podcast show notes so people can look. When I’ve mentioned all those beautiful homes and stuff so people can look and hopefully if you’re listening on a podcasting 2.0 app, I’ll have shown these all have the a few those pictures and they’ll show up on the app the podcasting app as your people are looking at it.

One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast  – 00:40:14 – 00:45:01

It’s a cool new feature for chapters. So, I like to try and share both success and failure. So, there’s a chance that others won’t make the same mistakes. Can you tell us the time where you screwed up and made the wrong pivot or Startup? decision Yeah, I again early stages you know again. I talked a little bit about relationships. Said you know you kind of Establish some sort of a relationship and you think you’re working with the right people and then you know as you progress you find you know. They’re not the right fit so A lot of hit miss and again. This is were. I really think it’s important for free and not never to give up You know you really want to cultivate relationships. Always have a backup plan. You know what’s going to be my next step. What am I going to Highway going to fix this because again? There’s always going to be challenges. You’re going to face a lot of adversity. And so, it’s something that I know well and both professionally personally and so you know you make mistakes along the way, and You know one of the big names in an entrepreneurship in and businesses Gary v. Obviously and you know his approach and his philosophy is that you know mistakes are good thing. You must make mistakes to do things the right way. And so, you’ll sometimes you make these is mistakes. It’s how you overcome them. How do you get over it? Stop complaining stock moaning and groaning about it. You know pull up your big boy pants and you know keep going and so that’s really my approach is to just keep moving forward You know don’t stay down there for too long. Get over those mistakes and just keep plugging. I think. That’s a great advice. You know a done is better than perfect. And I fail fast kind of concepts where you know. I can always do better next time. But sometimes I got to get this out the door and then get the feedback to make the next one better Rather than waiting for projections. You just got to move things forward. Yeah, exactly chocolate. So, what’s next for you and one development corp. so yeah. I mean really. Our focus is on this crowdfunding campaign. we really need to support to move things forward. You know we have already raised Five hundred fifty thousand of this money that we kind of our first round where we need it. You get the company Started now we need the additional funds through the equity crowdfunding campaign to get us to our first project. So, you know for anyone. That’s listening If you’re interested in getting in on the ground mobile company you have an interest in real estate development or real estate investing in general you know I think created unique. Niche opportunity enables people to get in on the market. So, once we’re able to get that support were a fully funded will be able to acquire property in. Get this thing going so you know. Don’t be one of those You know have that investor remorse where you know you heard about us at the beginning and then five years later everywhere you’re like I invested in that guy from day one. I’d be a millionaire. I think you were steadily moving towards that goal line of becoming a very big successful company and so, but we must start somewhere and that starts with support from investors and people who believe in what we’re doing that’s great and it’s inspiring. And I’d like to see what’s going on. I like to see the bigger raises happening on crowd funding because it’s exciting to see Startup’s have alternative methods. Where can people find more about you. Jason what’s one developed social media. Where do people go to find out more. You can go to our webpage first it’s one for dot com in there. You can find all of us at least to our social media pages so on Facebook Instagram is one day for in as well and Was loss of twitter. So, I would say. Go to our webpage You can find all the links there and then in on all our social media pages we have a tree page as well so you can access information on the campaign other weapons that we’ve done. I will provide a link for The Startup podcasts. So yeah, we’ll have on anyone of our social media sources you have the link to access all that information and today is June first when we’re doing the live interview. How long has your campaign running. So, we launched about two weeks ago three weeks ago. I believe so. We bought another twenty days left. Twenty or twenty-one days left so not a whole lot of time. So, I would be steadily moving forward. I think we’re going to close Probably you know.

One Development Corporation Founder Jason Ferreira on Ep101 of The Startup Talk Podcast – 00:45:01 – 00:46:58

The rate in our campaign is going to accelerate quickly Were again. It’s kind of the strategy. You know you take a couple of weeks you kind of lead investors and now through podcast like this are marketing Everyone is really starting to talk about us or us. We made an appearance on national posts. So, things like that so were know really getting the marketing machine. Going a lot of people are hearing from us. So, I would encourage you to invest as soon as you can Because this thing is only for another twenty days wanting to close It’s unlikely, we’ll have another race for at least a couple more years so and again the opportunity could change. Our needs may be different the offering could also be different but right now this is ground for offering and so a huge opportunity for people to Invest and get on the market We have a very strong offering so Again I get it now. Because we’re only I think in another twenty days left so and it’s a one dev corp dot com or if you’re looking at investing echo dot com put the links and the show notes so check it out. Thank you for taking the time today. Jason and talking about One Development Corporation. It’s been fun. Yeah, it was awesome. Thanks, Craig I really appreciate you. Having me on.

 I look forward to following your campaign and seeing all your success in the future

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