July 18, 2017
Episode #13 – Domenic Mandato – Grounded in family and elevating in action
“It’s not like I have a special gift, blessed with more talents than the next guy, it’s just that I took action. And I recognize that, even the big business leaders that are out there, you too can be that person you just have to take action.” – Domenic Mandato
From humble beginnings in Montreal, where he first learned his savvy negotiating skills to Calgary where he has built a successful real estate investing business, Domenic Mandato has had many experiences in between and is on a continual path of growth.
Domenic is the President and Chief Executive Officer of a private real estate investment fund in Calgary Alberta – InvestPlus REIT (Real Estate Investment Trust). He is a real-estate investor and entrepreneur specialising in the acquisition, renovation and value enhancement of multi-unit residential and commercial buildings.
Over the past eighteen years, Domenic has successfully acquired, managed and sold approximately $50 million dollars of residential, multi-family and commercial properties from British Columbia to Quebec.
Domenic considers his true wealth to be his family. Together with his wife Rosa they lead an active life with their five sons including business, sport, activities, community and contributing to causes that are close to their heart. Most importantly they come back together at the end of the day to share a meal and share conversation.
Selected Links and People Mentioned from this episode:
- [02:00] Patrick introduces the new REIN Member special segment of The Everyday Millionaire!
- [03:20] An introduction to today’s guest Domenic Mandato
- [05:00] Domenic explains what his company InvestPlus REIT (Real Estate Investment Trust) is all about
- [05:50] Where Domenic comes from, his family and how he landed in Calgary at just the right time
- [09:45] From a degree in Mechanical Engineering in Montreal to a sales job in Vancouver. How did all of that lead to Domenic’s journey in real estate?
- [13:00] The newspaper article that starts Domenic down the real estate investing path of and his lightbulb moment! It’s been in his life all along.
- [17:40] Initially meeting skepticism and caution from his wife Rosa, they decide to follow the real estate fork in the road and start building momentum.
- [21:40] Have a little faith. On the cusp of ending his real estate investing career, a simple shift in perspective together with a lot of perseverance and encouragement from Rosa, helps push Domenic through.
- [27:20] Domenic shares a story from his upbringing that illustrates how imperative it is to have your partner or spouse’s support when undertaking a new business venture.
- [29:40] Domenic and Rosa’s philosophy around family and business and the conversations they’re having with their five sons
- [33:50] Domenic describes his expertise in the art of conscious negotiation
- [41:00] Crafting a leader. Domenic explores the factors and energy that have contributed to his leadership presence.
- [45:25] Conflicting self-talk and honest self-assessment as a means to improve vs. second guess
- [47:05] Domenic and Patrick have a conversation around striking a healthy balance with business time and family time, conscious awareness of family routine and quality time spent together.
- [52:55] What are Domenic’s regimes to look after himself and stay centered?
- [54:55] The importance of accountability and confidence
- [56:05] The self-talk Domenic experiences on those tough days: taking it back to gratitude and the positive mindset
- [58:00] Defining a Real Estate Investment Trust (REIT) and what the benefits are for an investor.
- [59:35] What is the typical investor demographic they see at InvestPlus?
- [61:20] The entrepreneurial kick start that became InvestPlus REIT
- [64:40] What would Domenic tell his 20-year old self today?
- [66:10] What advice does he want to give his 65-year old self?
- [67:10] Domenic reveals what he’s not very good at
- [68:25] Domenic’s future aspirations on two wheels and getting back to music
- [71:30] When it comes to advice for people considering the real estate or entrepreneurial path – what important message does Domenic have for them?
- [75:10] Domenic’s definition of success (hint: it links to his advice)
- [77:15] Finding inspiration to raise the bar toward being in contribution to the success of others
- [83:10] Domenic tells the story of a failure he experienced that turned out to be a blessing in disguise
- [87:50] Does Domenic have a willingness to fail?
- [88:40] Most embarrassing moment!
- [89:50] The message Domenic would like to hear at the pearly gates
- [90:40] Domenic expresses his greatest gratitude