Parveen Dhupar Interview Series

INTERVIEW

Parveen Dhupar

FOUNDER OF BTI BRAND INNOVATIONS INC.

INTERVIEW

Parveen Dhupar

FOUNDER OF BTI BRAND INNOVATIONS INC.

Parveen Dhupar is a seasoned brand strategist, visionary, designer, serial entrepreneur, connector, lecturer, public speaker, author, coach, mentor to many entrepreneurs and founder of BTI Brand Innovations Inc.

BTI is a boutique creative agency offering fully integrated creative and marketing services and Parveen is the lead connector at BTI. For over 30 years, Parveen has been innovating the brand experience for his client partners and consumers. With his core values to be CURIOUS, CREATIVE, COLLABORATIVE and giveback lo COMMUNITY, Parveen thrives on curiosity, striving to discover new insights and explore new industries.

TCS: What is the relationship and how did you get started with Simon? Could you talk about some of the initial meeting and how you started with offerings that were presented to you?

Parveen Dhupar: In the summer of 2006, a real estate developer friend shored with me his investment strategy and said that I should meet Simon who would further explain the pre-construction program. Shortly afterwards, I made my first purchase with Simon in Liberty Towers with 0% down. We assigned that unit in 2010 during occupancy then applied the gains towards 2 new pre-construction purchases; Parade II in CityPlace and Fashion House in King West. Since, then I have made 8 more pre-construction condo purchases in Toronto and one in Miami through Simon. My first purchase was the only one that I did not close and rent out. I have exited some but have held onto most. He has become a trusted advisor and close friend. What Simon says, goes.

TCS: For everyone, the post few years has been a trying period of time, what has been the biggest insight or takeaway for you or your business that has come from the pandemic hitting the globe?

Parveen Dhupar: For the first few months of the pandemic, we had next to zero revenue coming in and keeping my team employed and fully engaged was my priority. This gave us on opportunity to reflect and reset both in business and personally. On the business side, we went through strategic planning and aligned on areas of focus. As for personal, I put attention towards my passion around coaching, public speaking, writing and launched my personal website, parveendhupar.com to promote myself as a brand. Health and fitness have always been a priority for me, and the pandemic gave me more opportunities to push myself further. As for family, we went from feeling like empty nesters to having the kids back home again which allowed us to reconnect and bond further.

TCS: What about away from the office, what do you like to do when not working?

Parveen Dhupar: When not in the office, I love being in the gym working out. It is the only place where I find that I con block out everything else that is going on around and truly be present. Being the entrepreneur that I am, ideas ore always flowing and exploring new ventures keeps me motivated. I am a proud Canadian, but I prefer to identify myself as a "global citizen". Travelling to new places, experiencing delicious cuisines, and doing it with my family is what gives me the most joy.

TCS: You have a long-standing brand marketing career as well as being on author and entrepreneur, but you ore known for your smile and overall positive outlook, always discussing how people con be happier, did this come natural or did something click at on earlier time?

Parveen Dhupar: Many people close to me have passed away over the years. With each loss, I learnt more about the value of living life to the fullest with no regrets. When I was 16, I wrote down a list of my goals and would review them monthly. Add to the list, cross things off and check off the ones completed. When I was 31, I had completed all but two goals. I’m still working on world peace where we can all live in harmony with no food or shelter insecurities and the other was purchasing a Porsche 911 Turbo. At the time, instead of buying the 911 I decided to purchase a new home for our growing family. Soon after, a close friend passed away at a young age and one the first things I did was go buy the 911. We only have one life to live and it must be lived with no regrets. When someone asks me, how are you, I always reply with "Lovin' it. Livin' it."

TCS: As a leader in your field and specifically as a brand leader, you need to give a lot of advice; what advice would you give to someone that is looking to invest in the condo market, what would be the top considerations that they should be focused on?

Parveen Dhupar: Never get emotionally attached to the product. If the math makes sense, do it and do it now. Don't overthink and try to time the market. We have been hearing for years that the Toronto market is going to crash. With Government of Canada's immigration targets of 465,000 in 2023, 485,000 in 2024 and 500,000 in 2025 we have a major housing shortage and people need places to live, so my belief is that we may stabilize but in the long term will have wins. With the average condo being around $1,200-$1,500 psf in Toronto and around $1 million for a smaller unit you will still need to put funds in each month to carry the property after rental income. Make decisions knowing that you have a plan for worse case scenarios.

TCS: Any regrets about deals that you didn't participate in over the years that stand out for you?

Parveen Dhupar: Did I leave money on the table over the years? Absolutely. I don't live with regrets or use words like "should've, could've, would've". Every decision, I have mode has been right for me for that time. Personally, I factor in things like, what I have going on around me all the time, do I have the time and capacity to put focus on the current deal and what else can I use my funds for at that given time. There is always money to be made, but not al the sacrifice of my happiness and mindset.

TCS: Lastly, we'd love to chronicle some of your results, perhaps on example of what you originally put down on on early investment, what kind of return that equated to?

Parveen Dhupar: On my 1st purchase back in 2006 I put down $26,000 and assigned the unit in 2010 with a $64,000 gain. I was able to then take the $90,000 and put it into my next two purchases which I kept and sold in 2016. I took the funds from those two which helped to fund my next four purchases all of which ore currently rented and have seen go up from around $600 psf to well over $1,000 psf. Another four in Toronto and one in Miami are in pre-construction with plenty of time for me to decide on how I will fund the closing. The plan is to hold onto all nine of these investment properties and continue to add more as long as I feel confident that I can carry them all.

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