Anne Odita, Content Creator met with Hutsy founder, Tefari Bailey and spoke about his entrepreneur journey
What inspired you to create Hutsy?
Hutsy is my second startup, as I started my journey with Canada Homes, we were Canada wide digital marketing agency specialized in customer acquisition for real estate professionals. I worked on Canada Homes in 3rd year of Brock University and we had 50 retainer clients. Later a bigger field provider brought us and that lead to Hutsy.
So during my time at Brock University I worked at TD Canada trust. At that time I was staying at the lofts which was an off campus living arrangement for Brock University students. During summer break the loft student residence were empty as student visited their families but they were expected to continue paying rent for the time they didn’t stay at lofts, so I started reaching out to acquire their property and sublet it on their behalf with a percentage cut for me. So today Hutsy is combination of all three of my background.
Why you are using block chain in your business?
So a lot of people think when we mention Blockchain we are referring to crypto currency, however in reality they are two different elements. Companies across the world use traditional methods of exchanging currencies through banking transactions (think exchange rates) or western union. The problem is it takes more than a day to complete just one transaction with extra fees from banking and other financial institutions. That is the reason why we integrate block chain technology, as we are becoming a global player. With block chain we end up bypassing all third parties and get paid within minutes of our transactions.
How did you build your team?
We have close to 1200 investors across North America. Team building is upmost important for our company. We hire property managers with thorough background checks and see there past track record to ensure we get the best results. We are constantly expanding and cannot run the operations by ourselves alone. We have professional financial advisors to take care of all the due diligence.
What are your thoughts on Business Expansion?
On the real estate side we currently have 50 units and would like to acquire atleast 100 units in 2020 and look at a target to acquire about 2500 units by 2025. For financial transactions, we want to introduce a new product that will allow users invest in fixes and flips, what I mean by fixes are flips are these are distressed properties in the United States where someone could not afford to pay their mortgage we will give them a cash offer and purchase their property for 20% under market value, renovate the property and sell for decent margins in 4 months.
What is the one piece of Advice you will give to someone looking to be an entrepreneur?
Always make a to-do list. Explore future trends like crypto currency, block chain or 3D printing. Try to work on things that you love doing and do those consistently. Entrepreneurship is not an easy path, you will numerous stops before things start going your way and if you are not passionate to wake up every day and work on your business venture, you will burn out.
For more information on Tefari Bailey, and HUTSY kindly email : [email protected] or reach him at linkedin : https://www.linkedin.com/in/tefari-bailey-5a6215104/
As told to Anne Odita, Content Creator for The Onside Media, Canada, For comments get in touch [email protected]