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Meet Kris, who was nearly bankrupt then became a home owner 10 months later

Meet Kris, who was nearly bankrupt then became a home owner 10 months later
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[00:00:00] Scott Dillingham: Welcome to the wisdom lifestyle money show. I'm your host. Scott Dillingham. The goal of the show is to show you how you can grow personally, financially, have a larger net worth and leverage your largest asset to help develop you into the person you want to. I take you through all the steps I did coming from nothing being told, I was nobody and that I was never going to accomplish anything.

Getting kicked out of high school to owning a multi-million dollar real estate portfolio, and my own company, you'll meet our partners, you'll , meet our friends and you'll quickly discover how you can improve your life.

So listen in and enjoy the show.

 Thanks for tuning in today. Today, I have a really special guest for you. His name is Chris , so he is an amazing customer service focused realtor. Local and Windsor here, who's big in helping to give back in the community and he's going to share his story today. So Chris, welcome.

[00:00:59] Kris Ramotar: Hey, thanks. Really appreciate it.

[00:01:00] Scott Dillingham: Yeah, no problem. Thanks. Thanks for coming on. So think we should get off start by letting everybody know a bit about you and your story. would you like to start with your story?

[00:01:12] Kris Ramotar: I'm Chris Ramotar. I have three daughters. My wife's name is

Lonia in Lakeshore Ontario.

I was born in Ghana, south America.

I came to Canada in 1987. Lived in Toronto up until 2003, then came to Windsor. Drove a truck. Work with different many, different places and then. How I am is something has always been a passion of mine is helping people.

And Real estate, Give me the opportunity because personally coming as an immigrant from Ghana and not knowing the whole process.

how to buy a home. So I'll share my story. What happened to me personally.

But yes.

It's something I love doing.

helping people and it's an amazing opportunity. If you do it right for the right people.

[00:01:50] Scott Dillingham: Yeah, no, I fully agree. So how did you, because I'm curious. So how did you get started in real estate?

[00:01:57] Kris Ramotar: Back when I just came to Canada. My dad had a condo when he sold the condo. So they agents said to me, Hey, yeah,

You should look into this.

And at that point in time, I just came to Canada. I'm like, eh, I don't know.

Let's see, That's not what I wanted. I was wanting to be like a police officer. So that was part of my dream. Got to where I wanted to be.

And then that avenue opened another door to me. Door for me. So I was at the gym one day. 2016.

And my buddy said, Hey, I'm going to become a realtor. I'm going to join the thing, take the course. I'm like, Hey, I'll do too, but I'm going to go home. So I sign up. He still haven't signed up yet.

[00:02:29] Scott Dillingham: That's fine.

[00:02:30] Kris Ramotar: And I'm doing well. I believe in my eyes and opinion.

and here I am.

today, they are Four years later.

going On my fifth year. Yeah.

that's funny.

[00:02:38] Scott Dillingham: So now that your friend still not signed up, does. he regret it? Does he wish he did or.

[00:02:42] Kris Ramotar: I really haven't seen him too much since COVID and he's been busy working shift, work on myself. Yeah. And I'm doing the real estate. A gig as well.

Real estate is very time-consuming a lot of people doesn't realize all the work you have to do.

Not just putting a sign on the lawn and put it on the MLS.

I am.

very big on marketing people property. Because I feel it's very, it's a passion of mine. So I look at your home. It's my home.

Your Money is my money.

because the how I view. You're probably one of the most valuable asset financially.

Yeah in life. No

for sure. And you actually said

[00:03:13] Scott Dillingham: something interesting. You have you really focus on marketing now without out your secrets, say somebody listening to this.

how would that benefit them? What do you do? That goes

[00:03:22] Kris Ramotar: above and beyond what I first I use professional services.

I have a professional photographer. He does a drone patrol for me.

Professional.

video, 3d virtual tour. And then I just thought that don't put on the MLS. I put it on social media ads. So I have laser targeted.

Niche to the perfect avatar of clients. So when you're looking to sell your home,

I'm looking for that one person.

That's going to be the ideal person. For your home?

I sell a neighborhood not just the home. A lot of people sell the home.

I don't sell the home alone. I sell the neighborhood. This is a lifestyle you would expect.

When you're buying.

a home in this neighborhood.

[00:03:58] Scott Dillingham: Yep, sense because yeah, the house might be great, but if there's no schools nearby and you have children, like I agree. I think it makes sense to sell the neighborhood. That's really smart. Now another thing that I like about you is that you do like to give back. In the community.

So would you be able to touch on that? you do to give back.

[00:04:14] Kris Ramotar: Yeah. So because my daughter's going t to Lake shore and B iver high school. So every time I just two years now, I started this.

I sponsor one student.

whoever's graduating and will be attending post-secondary education. There's a bursary award of $500. I would like to do that until forever. That's going to be my little giving back to the community that I live in.

As well as I sponsor a local cricket team in Windsor.

that I played for, Cricket's been like my number one sport.

I grew up with that and It's in my blood. So it's something I'm very passionate about and the least I could do is now.

I'm probably financially more stable than I was years ago. I could give that back and it's not so much the expecting anything in return is something I'm very passionate about. No.

[00:04:57] Scott Dillingham: love that. Now just going back to,

[00:04:59] Kris Ramotar: you're beginning,

[00:04:59] Scott Dillingham: So you came to Canada and how was that experience when you were

[00:05:03] Kris Ramotar: young? Just coming here.

It was like culture shock in a way, because I had no friends. I left all my friends, be home behind me and Ghana.

And then we were here. My dad was here like three years before us. So.

we were three guys with all my dad.

So coming here and the climate is cold, so that's not one of my favorite thing. The weather and the winter is not my favorite. I like summer and give me a heat. But it's, it was different. You needed it.

A car to go everywhere.

You had to pretty much. Bundle up in the winter time to people was always nice because I live in Toronto. I would.

It was very diverse.

Most of the people living in the buildings, the school was very like most immigrants. So I didn't feel any differently.

Because

of the big cost of living in the city. Yeah.

[00:05:41] Scott Dillingham: Yeah awesome. Yeah. no canada is a great place to live.

[00:05:45] Kris Ramotar: So, welcome It's funny. Cause you

[00:05:47] Scott Dillingham: it's cool. And we live in the warmest part. So imagine living other places it's I wouldn't want to

[00:05:53] Kris Ramotar: That's

awesome. So now you've been a

[00:05:55] Scott Dillingham: realtor for how many years?

[00:05:57] Kris Ramotar: Four years going on my fifth year.

Okay.

[00:05:59] Scott Dillingham: And what is what is something that, you know, for just a regular buyer?

like what's one of the most common questions that you have and what would your solution be to someone who's getting out there to buy.

[00:06:11] Kris Ramotar: It seemed to be my niche. Is first time home buyer. So classic examples, Chris, we don't know what do we do? I said the first thing I do is get a pre-approval.

And when you

get a pre-approval. I want to talk to your mortgage agent or your banker. I need a letter of commitment.

Got it. With the letter of commitment and we're good to go. Then I'll I.

Perfect example. I said, give me a hand.

I would like what I say, give me a hand. It was one of my clients last week.

And I, she gave me a hand and said, I'm going to hold your hands from here. Till this transaction's over. And then when your family is ready,

I'm going to still be here.

to hold your hands. I said.

this is just the starting of our relationship. You're stuck with me. You can go with me. Here you go. I said, I want to sell your child.

Your grandchildren.

a home down the road. If I'm still alive, that's. That's what I wanted.

[00:06:56] Scott Dillingham: No. That's awesome. I do that? Like, how you give, someone buys a home.

do you still help them the fact.

[00:07:04] Kris Ramotar: So for example, you put in an offer. Okay. What do I need to do next, Chris? Okay.

First. We get a, I walked through the whole process. Yeah, you need to get insurance on a home.

You have offers accepted.

You don't have a home insurance. I tell them. You're gonna need a, here's a copy of.

All my list of people you.

need a plumber, you need electrician, whatever you need, here's a list. This is your resources.

That. And then they will call me for anything. The odd thing. Oh, we have some leak.

Who do we call.

Hey, I need a mechanic.

Who do I call? A lot of times the relationship. Personally.

Yeah. my agent, what I use in the past. He sold me a home and he sell my home and I bought a home from him. Crickets. I never heard back from him. Yeah the money is in the follow-up. The money is building that relationship over time. Not. Expecting anything.

A phone call touching base and said, Hey.

Chris, how are you doing?

How's your family? That's it. You know stay in touch. Keep in touch with your friends or family. And don't ask for anything in return. people like the way you want to be treated. Yeah.

[00:08:08] Scott Dillingham: no, It may. It makes sense. You're right. I remember I One of the first houses I bought. never heard from the realtor again, and I'm an investor, so I buy multiple ones

in, So the next one I bought. The realtor me. like a gift basket and he called a year later and just said, how's the property And, little things like that. So I think it does make a big difference to continue

[00:08:28] Kris Ramotar: Yeah, which is great.

[00:08:29] Scott Dillingham: It made me feel good because I'm like, wow, really cares.

Someone who doesn't care is probably not going to do that.

But who doeswho does will, so Iat. Now we do have to take a quick break, but when we come back, is going to go into how he was almost bankrupt. And then how he bought a home 10 years later, you're going to want to hear it.

 All right, welcome back. Okay. So Chris, told everybody we started the break that you were going to explain how you were pretty much bankrupt, and then you bought a home in 10 months. How does that work?

[00:09:01] Kris Ramotar: Because I believe if you have the drive and the mental capacity to do anything is possible. And it has support. So back in 2010, I'll back it up to 2007. Sure. My dad passed away in Toronto the day he was supposed to move.

He passed away.

to come to Windsor. Our relation with my family. And then.

A month later, my mom and my brother.

moved November, in 2007.

came to a Bell river. Four houses away from me.

And then my mom went to Ghana on first time ever after 20 something years came back with.

Infection.

And then.

Couple months later.

Christmas Eve, December 24th, 2008, she passed away.

Okay So That's two tragedies, and I don't know, 14 months.

Then four months later, one day at work. Hey Chris We don't need you anymore. So this is April 1st. 2009. And then one month later,

My ex said, Hey, I'm not happy. I said, okay Then she said her boyfriend, I said, all right.

What else?

And then I might, we had two daughters They were pretty young, like less than five years old together. There was a lot struggles, things that happened before that. I'm not all the way detailed. And then we had a trucking company, which was going well, and then three to four months into it.

A truck crash.

driver, quit. People not paying the bills on time.

And start, what we had to run the business. Dried up pretty quick. So at that point in time, that business folded. I got a job at a loan company with extra suit champion products. Thanks to them.

helped me and they're still helping me and my brother today.

They both employ my brothers.

Wow, they Still

work there. So I left the, and they're, my brothers are still there. And then I'm laid off for five months.

Got hired by university of Windsor... thank God. So it's a great option to be there for my kids and myself. About a couple months later, I had an opportunity to go back to Toronto. Toronto police. And I declined. Yeah. So I, we owed over 126,000 in collections and debt from the truck and the company and everything. And I.

The house was sold. That it was a $40,000. lien on the property. So 20,000 was given to him. To us 20 was held. In my ex name. We took the money.

And Split it I say, or you go, I took my $10,000 straight to the bank. Pay RBC collections.

I caught up. Everybody's Hey.

I have some money. Can we negotiate a release or a deal of some sort of a thing. And they said yeah. I said, okay, so I'm at a release letter. This is what I could afford. And everybody said yes. So that's was back in 2009. 2010. I went to the bank to get a loan.

It was tight.

But it worked out. So what I did was I took a credit. A car loan.

That 30% interest.

But I knew for me to get where I want to be. I had to make sacrifices.

It was not a big.

loan was only $5,000, but I paid it on time. I took out a capital one credit card.

and a $500.

credit limit. I paid it on time.

I had some RSP from FedEx about $15,000.

which helped me. And then. Working at the university of Windsor. I saved. Save over 20 grand.

So when I went to the bank, I said, Hey, listen, this is what I have. I have everything.

line up. and yeah, I got a mortgage for 1.97%.

bought my town home in east Windsor and never looked back and I always tell people.

If it's meant to be and you work hard.

you could get anything in life and don't say, Oh, make an excuse that oh, it's not possible. Don't wait, just do it.

And you'll find a way of getting where you want to be.

[00:12:22] Scott Dillingham: Nice.

So that would be your best lesson is just do it. Go

[00:12:27] Kris Ramotar: don't wait. And jump in and go. Yeah.

[00:12:29] Scott Dillingham: Yep. No, I love it.

And that's interesting too.

About the the debt that you had. So I think that's valuable for people listening, because, If they're in the life stage that you were at.

and you have debt and you just want to past it and move forward.

So how does that work? so say you have debt and you can't pay it. did you do to get them to settle or reduce the amounts

for you?

[00:12:50] Kris Ramotar: I just called and said this is what I can afford.

it either. Yes or no. One for some reason. They say, yeah. We'll do

it God for that, Maybe God was looking down upon me, yeah.

Very

well could be

from one twenty six, a hundred twenty 6,000 to 40 to 50,000. But settlement. I can't complain.

Yeah.

[00:13:06] Scott Dillingham: No.

That's great That's great. That's really cool. So he's saying you just call them up, which is great. So anybody can do that.

I love that.

Now your home that you bought. Because one of the things that I thought of when you told me that was the interest rate really high or was

[00:13:19] Kris Ramotar: it.

It was around five. Four something, five that's pretty low.

[00:13:23] Scott Dillingham: was in 2010,

[00:13:25] Kris Ramotar: 10 Yeah.

It wasn't too high. It was pretty low.

still affordable. I can't remember exactly how much it was. Yeah. Yeah, but it wasn't. I did it by myself on a single income.

[00:13:33] Scott Dillingham: Yeah.

[00:13:34] Kris Ramotar: A single night. Yeah.

[00:13:35] Scott Dillingham: Was it

[00:13:36] Kris Ramotar: with 5% down

[00:13:38] Scott Dillingham: or.

was that with 25%?

Wow. So that's really good. really good. Cause I know CMHC is tough,

[00:13:43] Kris Ramotar: So

[00:13:44] Scott Dillingham: good for

you. That's awesome.

So you went from bankrupt.

to buying a home and then, so what happened after that? Obviously you started the real estate in 2016. What was the middle like there.

[00:13:54] Kris Ramotar: In between, I was always operating in a red and it's true. Paycheck to paycheck.

The least think. of the broccoli to my knees, but I took a chance.

Because I said, if I sit at home while my brothers, which We lived with my brothers.

my two kids, myself. On a nanny, So we had pretty much.

4,002.

kids in that home.

We all got along together. I said, if I take a chance to now I could do it because if I sit here and wait.

it's not going to happen. Yeah. And I said, if I know where my money's going and I'm broke. That's okay. Whereas if I am broke and I don't know where my money's going, then something's wrong.

Yeah.

And I sacrifice.

and I build equity and.

I, It was a great risk.

[00:14:31] Scott Dillingham: No. That's awesome.

[00:14:32] Kris Ramotar: Great risk.

[00:14:33] Scott Dillingham: No good for you. And I know you're doing really well. I see all the time out there and you're

[00:14:37] Kris Ramotar: doing

great

job.

[00:14:38] Scott Dillingham: I realized or saw

that you

had a recent brokerage change. What was the benefits of going to the new brokerage?

[00:14:46] Kris Ramotar: Where I was, I have, this is my Ford brokerage. I went to Tom Thomas opened the door was grateful to century 21. Right things what I am, but I want it to grow.

Then I went to I'll say platinum.

Want it to grow. And then I saw exp and the model was awesome. Tools, technology, training, support.

But what I found that, and this is from my personal experience.

There was no.

Comradery and collectively team environment.

everybody pull their own. Separate ways.

Yeah.

And when I call Hey Scott, it's Chris from exp, like where, who.

Okay. So I'm trying to sell my stuff on a brand. You know right now, it's not a big brand here. Windsor SS county, the balloon.

Everybody know, it's synonymous. Remax is synonymous with real estate and one's assets content. so you want to go a place where, when you say, Hey, it's Chris from Remax

on the, you see my.

My balloon It's already trusted.

I don't have to send the brand. I just have to show you what I could do.

Yeah, it's only been two months, but the comradery, the sport, to have a physical office.

in my opinion is huge. You ha you become more trusted when somebody is, Hey, meet me at my office.

You call a staff and Hey, can you do this for me?

Whereas where I was before.

Who do I call I had to add some people on my team. But they were not hungry. Yeah. I, I gave leads out and.

You call no, I'm going to call this off.

Boom. Hey. The lead just came in call now I'm spending money. Yeah, but it's now your money. So why you gonna work? Your, you. Yeah.

And, I'm very passionate. at What I do. I love what I do, but the brand, I think by itself,

under The staff and the professionalism.

and the comradery and the support.

It's second to none. Plus with a big global brand. You couldn't ask some more.

[00:16:26] Scott Dillingham: No That's awesome. Good for

you. Hi, I'm excited. Yeah. I saw the post on

Facebook.

you, you

[00:16:32] Kris Ramotar: go,

for us

[00:16:33] Scott Dillingham: so perfect. So we do have to wrap up, but for anyone who's listening today

what would be the best

ways to reach you or how they could find out more about you? When they're considering choosing a

[00:16:43] Kris Ramotar: realtor

I think my biggest place is on. Google, just school, Kris Ramotar.

And you're probably going to see a hundred. Stuff, pop up a lobby.

So every time everywhere.

it is a medium, you're going to find me Facebook, YouTube, Instagram, Twitter.

everywhere you could think of that's You'll find me.

Yeah.

Okay. That's

[00:17:03] Scott Dillingham: perfect. That's

[00:17:03] Kris Ramotar: awesome.

Thanks so

much, Chris.

[00:17:05] Scott Dillingham: Have

a great day. Everyone

[00:17:06] Kris Ramotar: Take care.

[00:17:06] Scott Dillingham: If you're serious about investing and you want to get to the next level of your life with the least amount of time and without all the mistakes, then you're going to want to sign up for our club. It's only $29.95 a month to join, visit invest.lendcity.ca inside you can chat with me and you'll learn about all the investments that we're speaking of in our episodes. We have classes and courses that you can join, as well as the networking opportunities you have with your peers and other experienced investors that are inside the club to help you to grow.

We look forward to seeing you on the inside. And as a bonus, this membership is free for all of our mortgage customers. See You Soon!

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