{"id":50349,"date":"2015-05-26T12:11:45","date_gmt":"2015-05-26T04:11:45","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=50349"},"modified":"2015-06-03T00:13:11","modified_gmt":"2015-06-02T16:13:11","slug":"the-master-realtor-macario-tobi-reyes","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2015\/05\/26\/the-master-realtor-macario-tobi-reyes\/","title":{"rendered":"The Master Realtor: Macario \u201cTobi\u201d Reyes"},"content":{"rendered":"
\"PortLiving<\/a>
PortLiving CEO Macario “Tobi” Reyes (File photo)<\/figcaption><\/figure>\n

Some people say there is actually no formula to success except an acceptance of what life brings. Filipino-Canadian Macario \u201cTobi\u201d Reyes definitely held on to that quote. As an entrepreneur at heart, he daringly ventured out and grabbed opportunities along the way until he finally found the career path that boosted him to exemplary success.<\/p>\n

And life surely did bring a lot to Tobi. He had to learn and relearn, struggle and take huge risks. He had to undergo trial and error process as he had no formal education on entrepreneurship. But Tobi had the best teacher \u2013 experience. And he had the best instruments \u2013 instinct and guts. The young entrepreneur learned and applied firsthand what business students studied and practiced in the classroom. And his numerous experiences and bold undertakings were what made him one of the master realtors of our time.<\/p>\n

On being Filipino-Canadian <\/strong><\/p>\n

Tobi was born in Manila in 1974 but eventually moved with his parents to Vancouver, Canada in 1979. Though Tobi only lived in the Philippines for a short period of time, he never forgot his roots.<\/p>\n

\u201cMoving here (Canada) at a really young age, I guess I didn\u2019t know any better. But eventually, you want to maintain the connection with the Philippines. There are things about it that you don\u2019t forget,\u201d he said, mentioning that he can still speak Tagalog.<\/p>\n

\u201cMy parents spoke Tagalog at home all the time so we never forgot it. When I go back there (Philippines), I try to just speak Tagalog as much as I can,\u201d he added.<\/p>\n

Tobi, however, lived somewhat disconnected from other Filipino immigrants in Vancouver.<\/p>\n

\u201cI lived downtown for the first 35 years of my life. We crossed the bridge to go to school and then I go back home. I think we were a little bit disconnected to the local Pinoy community. But we ate at Goldilock\u2019s, you know?,\u201d he recalled.<\/p>\n

He also maintained ties with relatives in the Philippines.<\/p>\n

\u201cThere\u2019s always a connection. We were here (Vancouver). But then, everyone else was back home. So every Christmas, every summer, from elementary to high school, we go back to Manila,\u201d he said. \u201cWe\u2019ve spent three months a year in the Philippines: two months in the summer, one month during Christmas.\u201d<\/p>\n

First business endeavors <\/strong><\/p>\n

After earning his degree in Psychology and History from Queen\u2019s University, Tobi seemed to have a different calling. When he went back to the Philippines with his mother, the calling seemed to be clearer \u2013 he wanted to become a businessman. Tobi then set up Impact Internet (Impact Digital Media Group), a dial-up Internet service provider.<\/p>\n

\u201cI travelled to the Philippines quite a bit after college and started an Internet company there,\u201d he shared. \u201cI think it was the thing to do\u2026 The dot-com revolution was happening and the Philippines was a little bit behind to where North America was. I didn\u2019t have a lot of money but technology allowed me to do things with ideas.\u201d<\/p>\n

This was Tobi\u2019s first attempt as an entrepreneur.<\/p>\n

\u201cEventually, I moved to content which is MyPhilippines.com and tried to apply North American model to the Philippines which didn\u2019t have a large enough online population.\u00a0 So it wasn\u2019t, from a business model sampling, it wasn\u2019t right yet. It wasn\u2019t the right application which I learned eventually,\u201d he said, deciding to move on from internet services.<\/p>\n

Realizing that Manila was not yet ready for the product he offered, Tobi was compelled to rethink his ambitions and go back to Vancouver. He decided to try his luck there instead.<\/p>\n

\u2018Accidentally\u2019 falling into real estate<\/strong><\/p>\n

Coming back to the Great White North, Tobi\u2019s game plan changed. Since he did not see career growth in the technology sector, he then decided to enter a different industry.<\/p>\n

\u201cHonestly, I did not know what to do. Technology was very idea-based, knowledge-based. It wasn\u2019t something I could touch,\u201d he recounted.<\/p>\n

Wanting to be in an industry that he could work on and develop, Tobi found his way to real estate as he was also attracted to the idea of a regular cash flow.<\/p>\n

\u201cI just felt, I wanted to do something that I could touch. I thought of real estate because I\u2019ve heard it was safe. And I said, \u2018Okay. Maybe it\u2019s not for business but maybe I could put some money into real estate and just learn,\u2019\u201d he said.<\/p>\n

\u201cI researched quite a bit for about a year. And then, I looked at condominiums,\u201d he added.<\/p>\n

This started the idea of working in commercial real estate. Then, an opportunity to buy a warehouse came. But before Tobi could delve into the business, he first needed to secure a big investment as real estate entailed huge start-up cost.<\/p>\n

\u201cI asked other classmates from high school and friends who would perhaps join me in real estate. So, three other friends joined me and then they said, \u2018Okay, sure.\u2019 We raised about $80,000 each and we bought a warehouse for about $800,000. And I thought, \u2018This is a great location. It\u2019s near downtown,\u2019\u201d he disclosed.<\/p>\n

Cementing his ground in the industry \u00a0<\/strong><\/p>\n

Tobi eventually ended his contract with their first warehouse, but followed his instinct to continue his journey in real estate. He later founded PortLiving, a renowned real estate company in Canada, focusing on property investment and project development.<\/p>\n

\u201cOur first property taught us what to do next. We found an opportunity. We took it,\u201d he said.<\/p>\n

\u201cThe start of PortLiving was with our purchase of our warehouse. I was a partner, so, I think I was the one out of our partnership that really focused more on the commercial real estate side,\u201d he added.<\/p>\n

PortLiving was initially named Port Capital. The name change was to make the company appear more consumer friendly, with appeal. But even with naming the company, Tobi never forgot to consider his hometown.<\/p>\n

\u201cPort was my first choice. Because it was a short word and it represented both Vancouver and Manila, \u2018cause both have port operations. And fortunately, the business name was available online. And, we registered,\u201d he recalled.<\/p>\n

PortLiving\u2019s success<\/strong><\/p>\n

After forming the real estate company, Tobi had plans lined up. PortLiving was envisioned to be successful and innovative, benefitting its customers with both practical and refined business and living.<\/p>\n

\u201cWe looked at quickly adding to the portfolio. Like maybe, bring more friends in, raise more money, or go to the bank and ask them for more money or get approved for another mortgage so that we could then add to the portfolio,\u201d he said.<\/p>\n

\u201cAnd, that happened. And I started to do more, work with more partners as well and focused on land and transitions,\u201d he added. \u201cAnd, there were neighborhoods in Vancouver that were quite exciting. Gastown was a neighborhood in transition. Mount Pleasant was currently a neighborhood in transition.\u201d<\/p>\n

Tobi believed that there was indeed plenty of growth ahead of Vancouver. He then bought his first commercial condominium in Mount Pleasant. True enough, his purchase not only brought back huge profits but also gave him direct experience with what happened in a community, in a neighborhood that underwent change both with regards to demographics and infrastructure.<\/p>\n

\u201cWe felt like we were onto something. And, realized more and more about what it was like in Vancouver and realizing what drivers there were that pushed land value. So, most of our first five years were spent finding land, either flipping it or refurbishing it to have better rents,\u201d he recounted.<\/p>\n

\"South<\/a>
South Creek Landing (Photo courtesy of PortLiving)<\/figcaption><\/figure>\n

A different approach to difficulties <\/strong><\/p>\n

During the economic struggle in 2008 and 2009, Tobi strived to continue in the industry.<\/p>\n

\u201cIt was very difficult to sell land at the time because banks were lending money, and that\u2019s when we realized that we may have been good at finding land but we weren\u2019t learning how to add much value to it, other than rental,\u201d he said.<\/p>\n

\u201cSo, I thought of development as a skill that we wanted to develop as it grew. And, that\u2019s when our first project was conceptualized and that is now a hundred percent sold out, it\u2019s a hundred percent leased at a land price that\u2019s significantly higher than its neighboring buildings and has been twice recognized by Vancouver City planners and by two different heads of planning as a significant contribution to the city in terms of architecture,\u201d he added.<\/p>\n

Truly, Tobi made the most even out of the tough times in the company. With his drive and passion, he directed the business to a new path that further advanced them to greater success.<\/p>\n

\u201cThat made us feel that we were on the right track, that we could be competitive as a developer. And so, our portfolio today consists of both income property and property for development,\u201d he shared.<\/p>\n

At present, PortLiving has properties and projects in Gastown and Mount Pleasant, Vancouver. They will soon complete a development at the south foot of the Cambie Street Bridge overlooking False Creek. They will also start construction at 150 East Cordova Street and on Broadway at Carolina Street.<\/p>\n

Thriving in a competitive market <\/strong><\/p>\n

With very strong, stable and competent real estate companies already present in Vancouver, PortLiving sought to provide something new in one of the country\u2019s most competitive markets.<\/p>\n

\u201cWe feel that there\u2019s a lot of potential. It\u2019s quite exciting to be in the real estate business in Vancouver,\u201d Tobi said. \u201cWe think we bring some sort of a younger outlook. What we bring is a little bit different.\u201d<\/p>\n

\u201cWe have such a strong concentration in our locations. So, we\u2019re able to sort of understand our demographic and our market a bit better. At the same time, survive and thrive with relatively smaller projects than most of our competition,\u201d he added.<\/p>\n

Returning to his first love<\/strong><\/p>\n

Tobi is definitely not a man with limited dreams. He always has these ideas and plans for the company. Despite already establishing a name in the city\u2019s development industry, Tobi believed that there was no time to waste, no time to be complacent. This brought him back to his first business venture.<\/p>\n

\u201cI\u2019d like to integrate. I have a very strong opinion about how we manage our digital strategy with the real estate. And, technology and real estate are things that are consistent in almost every industry. You need both, mostly,\u201d he disclosed.<\/p>\n

In Tobi\u2019s mindset, the companies who knew how to manage their information best were the ones who succeeded the most.<\/p>\n

Giving back to the Filipinos \u00a0<\/strong><\/p>\n

Genuinely a Filipino at heart, Tobi also sought to help his countrymen in the best way he could \u2013 providing a community center for the Filipino communities in Canada.<\/p>\n

\u201cOne thing that I\u2019ve noticed is that the Filipino community is fragmented. Part of that is because we don\u2019t have coordinated leadership and we don\u2019t have land,\u201d he said.<\/p>\n

\u201cI think that\u2019s an area that I can bring some expertise on or contribute one way or another. So, if I can assist the community and integrate some form of community center in one of our projects or provide a base for communication, for future commerce and for a way to establish the Canadian-Filipino identity, I think it\u2019s going to be good longer term oath,\u201d he added.<\/p>\n

Tobi believed that the center would help strengthen the ties of Filipino communities in Vancouver. He also hoped other great benefits would come out of it.<\/p>\n

However, the realtor confessed that he could not accomplish the project alone. He needed volunteers to help manage the operations of the place once it is built.<\/p>\n

\u201cI\u2019m probably not the best person to manage the facility. But if I can work with a team that can undertake the operational side, that I can commit to, I can help,\u201d he disclosed.<\/p>\n

Aside from planning for a community center, Tobi is also active in different advocacy groups. He joined One Earth Initiative, supported Lifeline Society, and helped Canada\u2019s Unrelated Bone Marrow Donor Registry.<\/p>\n

Words of advice <\/strong><\/p>\n

For aspiring Filipino entrepreneurs, Tobi only pointed out one thing: the most important thing to remember in business is to never be afraid to try.<\/p>\n

\u201cYou have to try. You have to put in the effort every day. And, just have faith,\u201d he ardently said. \u201cSo, don\u2019t be afraid to try and have faith that what you put in will come back to you, one way or another.\u201d<\/p>\n

Tobi is the man who daringly took tremendous steps to be where he is now. And, he never plans to stop climbing but to continue mastering his craft.<\/p>\n

There is definitely more to come to this master realtor.<\/p>\n

—<\/p>\n

With files from Peter Mitham (Business in Vancouver)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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