Today’s Notable Young Entrepreneur is Mitch Parker, who launched MP Private Capital to educate and align investors with top quality investment opportunities that are all backed by real estate. What advice does he offer other young professionals? Find out in today’s profile…
Elevator Pitch: Describe your business in a nutshell.
MP Private Capital educates and aligns investors with top quality investment opportunities that are all backed by real estate. Most of our investors are looking for something stable, secure, and consistent to invest in that still gets them a solid annual rate of return in their cash, RRSP, RESP, or TFSA portfolios.
Why did you start your business, what was the inspiration?
My business was really started out of a passion for real estate. After graduating school, I wasn’t convinced that traditional stocks and mutual funds were the best way to build wealth so I began looking to real estate. After a few years of investing, I would get friends and potential investors coming to me for advice on where they should put their capital. I started to realize there was serious demand for both investor education and a company that would help these investors find opportunities to get their capital working hard for them.
What is the best part of what you do on a day-to-day basis? The most challenging part?
The best part of my business is definitely helping investors make great, solid returns. At the end of the day, this is my client’s retirement, children’s education, and forms of cash flow. While the money is important, it’s what the investor can do with the returns that really bring them (and me) happiness.
The most challenging part is educating the investor. Unless you go to school for finance, there are no mandatory courses in the high school/post-secondary curriculum for basics of financial planning and investments. Once I’m able to sit down one-on-one with the investor, I can teach them some basics, which then helps them understand why these investments are as good as they are.
Where do you see your business going in 5 years?
Definitely growing exponentially. My goal is to start working with investors in the US and other foreign countries to help them place their money into Canada which has and will have one of the world’s most stable economies and real estate markets for years to come.
Another reason for expected growth is a change in investor attitude. I believe that people are starting to open their eyes when it comes to their investments and realize that they have to be and active part of the planning process. They are looking into different options rather than blindly making an appointment at the bank and getting advice there. Real estate is quickly becoming an investment of choice because of the stability, security, and returns it can offer investors.
What does success look like to you?
Success to me is freedom. Yes, it will be the sweet cars and houses in warm places etc., but more importantly it’s the ability to do what I want, with who I want, when I want to do it. Spending a lot of time with family and friends is also super important because without great people, there’s no point to having all the success.
What is the most memorable milestone in your career?
The first time I helped get an investor into a deal is something that will always stay with me. Looking back, I think that moment proved to me that people viewed me as an expert in my field and that this was a viable business opportunity. I still work with that investor on deals today.
Do you have any advice for other young professionals?
Surround yourself with great people, both in a professional and personal manner. You eventually become who you hang out with, so make sure you’re hanging with the best people for what you want to accomplish. Secondly, don’t take life too serious. Obviously there’s a lot of work to be done if you want to be successful, but there’s always opportunity to stop and have some fun. It may even improve your professional life by keeping you from getting burnt out.
Do you support any charities? If so, which one(s) and why is that important to you?
I’ve done some work with Habitat for Humanity and the Heart and Stroke in the recent past. I’m a huge animal lover, so I like to help out the OSPCA when I can as well. They do a lot of great things for animal welfare so it’s nice to be able to give back.
What to you is notable?
Anyone that’s taking a risk and pursuing his or her passion is note-worthy. We are living in a time when entrepreneurship is on the rise and more people are taking the leap to get out of their comfort zone and creating a career they love. I work in a space where I’m surrounded by entrepreneurs and am lucky to be able to watch notable things happen every day.
Blackberry, iPhone, Android, or Other?
They make something other than the iPhone?
How do you keep active, energetic, and vibrant?
I like to hit the gym five days a week to keep in shape and my energy levels high. Toronto is an amazing city for energy, so sometimes I’ll just go and hang out in a busy area where people are out hustling and draw some energy from them.