Welcome back to the Wisdom Lifestyle Money Show. I'm your host, Scott Dillingham. And today, I have a really awesome guest with us. I feel like I say that all the time, but everyone I talk to is awesome. We have Saqib from Real Swipes.
Scott Dillingham:So welcome, Saqib.
Saqib Dareshani:Thank you very much, man. I'm excited to be here.
Scott Dillingham:Yeah. And I'm I'm excited to show the listeners what you're doing with RealSwipe. It's it's a really cool service and platform, and I just think I think it's part of the future for investors. So I wanna hear more about your story. So generally, that's where I always start.
Scott Dillingham:So how did Saket get from where you are now well, where you were to to where you are now?
Saqib Dareshani:Totally. Totally. And I I love your origin story as well. Maybe we'll get into that too. I'm sure your audience would love to hear your origin story too.
Saqib Dareshani:But yeah, going back to me. So originally, I'm computer engineer. So I'm in the high-tech space. And in 2000 and yeah, it's crazy how time flies. Real estate since what?
Saqib Dareshani:Sixteen years now, probably. Because I started in 2009. I sold all my stocks, went all into real estate. And, basically, I just needed something tangible. Right?
Saqib Dareshani:So funnily enough, my first property was a a multifamily, a fourplex. Right? I bought two condos at the same time as well, but I eventually sold off the condos. But it's funny, like, you know, all the stuff we learn about is about genius. We learn about cap rates, you know, NOI, diversifying risk by having more than one tenant in your unit.
Saqib Dareshani:You know? And that's why I went multifamily, you know, learned about cap rates. Like, oh, this is a 10 cap property. Okay. Okay.
Saqib Dareshani:This looks interesting. You know? So got into that. And, yeah, basically, it just started burning. Right?
Saqib Dareshani:I'm like, okay. You know? Like, okay. You know? Like, the rents aren't this much.
Saqib Dareshani:I know that I I approved the building and did the renovation. Right? So I'm like, if I, you know, slowly you know what mean? What the I'll just do it, like, in a more you know, as a tennis turnover because there are a lot of students there too. So I was like, hey, this is actually an ideal opportunity.
Saqib Dareshani:I don't have to wait for them to move. They usually move out within a year or so anyway. And basically got the whole building renovated within a year. And yeah, I was able to increase the NOI substantially. I would say, like, easily 50.
Saqib Dareshani:Right? And then, yeah, the property went from $3.75 to $6.75 in value. And then today, it's worth a million, right, since that time. So little win for me, you know? But now my goal is to get into a larger multifamily.
Saqib Dareshani:So I've been doing like duplexes, also sold out to condos, started to the five units, seven unit, etcetera. Right? Now my goal is to get into larger multifamily. And and again, on the tech side of things, originally a computer engineer. Right?
Saqib Dareshani:I actually caught a course on app development in 2,010 at Carlton University. Funnily enough, the the link is still online. You know, I shared the links of that with people. It's pretty cool to actually teach at the same university, you know, that you actually studied from, right, within a couple of years. And also you were a student, and then like, a couple years later, oh, what?
Saqib Dareshani:Guess what? You're a professor. Like, oh, wow. That's pretty cool.
Scott Dillingham:That is awesome.
Saqib Dareshani:Yeah. Thanks a lot, man. Yeah. I just get always get excited when I talk about these things. You know, it's it's one of those watershed moments.
Saqib Dareshani:Right? You're like, hey. You know what I mean? Should I do this? Should I not do it?
Saqib Dareshani:You know? And same with you too. Right? Like, you know, there comes a point where you make these decisions and saves you, like, forever. Right?
Saqib Dareshani:So those are one of moments. I mean, it seemed like not such a big deal, like, okay, becoming a professor for a short while. And we had these industry experts there. We had PhD students there and what I'm all learning about ad development. Because back then, development was a brand new concept.
Saqib Dareshani:The app store had just launched. Basically the whole process was a lot more complicated, like memory management and so forth. So long story short, it went really well. And organizations like CRA, BNB, eventually projects before and whatnot, just got me involved with roughly 500 apps, dollars 5,000,000 times. So really humbled by the experience I got from that.
Saqib Dareshani:Just recently, man, I don't know, we're gonna get into that. But basically, that's what I've been really looking at. Before, I've kept real estate and tech separate, but just recently brought them together with RealSwipe, Tinder for real estate, where we're matching investors with properties, helping them find, analyze, and close their deals faster.
Scott Dillingham:That's it. That's awesome. I love it. I love the story.
Saqib Dareshani:Thank you.
Scott Dillingham:So with RealSwipe, what's your role as part of it? So obviously, you're the founder, but I'm pretty sure you're developing it and you're doing all these things too behind the scenes.
Saqib Dareshani:Totally, totally. We are in beta and I'll give you guys a rundown of features, but my role really is basically being the head of product. Okay. Because, you know, who are our clients? Right?
Saqib Dareshani:Our clients are people like me, like you. CP, IBU, customer profile are the small to small to medium sized real estate investor. You know? We do have VC out of California who wants to get us to get into the larger institutional side. Also that's something we can easily plug in pretty easily.
Saqib Dareshani:But for the small to medium sized investors, you know, helping them with the due diligence, you know, at finding the property that they're looking for. So for example, let me give you guys a perspective in this case. Right? So we so have properties for MLS on our platform. Right?
Saqib Dareshani:Right now, have about 224,000 properties. Right? So on MLS, let's say you find a 24 unit building or whatnot. There's almost no numbers there. Right?
Saqib Dareshani:So how do you know to even pick up the phone you know, or just fire up your email client and message this realtor saying, hey, give me more information. Unless you're very familiar with that market, you know, the price points and whatnot, the numb you're you're not sure if it's a good deal or not, and you're not gonna call the realtor for every single property either. Right? You're really depending on the realtor's expertise. And in that case, the realtor may not have all the answers.
Saqib Dareshani:Right? You know? And so what we wanna do is help the investor do some napkin math for them. Right? That's what we're doing.
Saqib Dareshani:Like, hey. This property, this is the price, but guess what? Here's a pro form a cap rate based on the rents for the area. Here are the projected expenses. Here's the unit breakdown.
Saqib Dareshani:That's what we're working on in unit breakdown, on rational part of things, the rational side of things. We're really generating the pro form a for the investor. So the when the investor looks at the property, he's like, okay. Okay. This thing this property is pretty expensive, but guess what?
Saqib Dareshani:It's actually the cap rate is actually within, you know, the range for that market. And the cap rate is actually, hey. It's actually better than we had expected. You know, obviously, it's based on market rents. Right?
Saqib Dareshani:The property may still need some renovation and whatnot, but it's giving you an idea. Right? You know? And but now it gives you some data for negotiation as well. So now you're like, hey.
Saqib Dareshani:You know? This matches my buy box. Right? Because you can subscribe to your buy box. Like, I'm looking for 8% cap rate properties in Houston, France.
Saqib Dareshani:Right? So you can actually search up properties by your buy box criteria and based on market rents or whatnot. And if you find something that matches what you're looking for, you can reach out to the realtor. And let's say the actual rents are off or the building conditions off and what not. Right?
Saqib Dareshani:Then you have room for negotiation. But now you've done that napkin math to start the process. Right? So investors love that. And I don't know about you, if that would be useful to you.
Saqib Dareshani:Right? Just as a, you know, investor hat on.
Scott Dillingham:Yeah. Yeah. Well, I can say for me, and so I guess this kind of leads into a question, but a lot of the realtors when they do list a property, they put fake numbers in there. And I don't know if they're doing it maliciously or just like they don't understand the property, so they're just throwing stuff in there to get their listing complete. So it is hard to find accuracy.
Scott Dillingham:So on your end, I know you're talking about napkin math and things like that, but do you like what due diligence do you do to try to get as accurate numbers as possible?
Saqib Dareshani:Exactly. Exactly. So basically, you know, we're looking up the rep reputable sources. Right? What the rents are for the area, you know, and we're that's what we're building on.
Saqib Dareshani:Right? Creating, you know, more and more accurate performance. So, basically and enriching that property. Right? So that's where the really the where the value comes in.
Saqib Dareshani:Right? And for the realtor, they love that. You know? Because the realtor is like, hey. By the way, this property, you you just sent me, like, all the projects I'm looking at on MLS and so forth, off market property, whatnot.
Saqib Dareshani:It has all this data now. Right? So now I can I can go click, click, click, click, PDF, send it up to my email list? Right? So one of the realtors was like we actually recorded a testimonial.
Saqib Dareshani:He said that what took me hours now takes me minutes. Thanks to a realtor.
Scott Dillingham:Nice. I love it. That's incredible.
Saqib Dareshani:Thanks a lot.
Scott Dillingham:And so so investors use it. Right? They can find properties. I know they can find partners too, like, if they need insurance or mortgage. So I know they you have that built in.
Saqib Dareshani:Correct.
Scott Dillingham:Well, what areas do you cover currently? Like, where does RealSwipe work at, you know, within
Saqib Dareshani:Totally. Totally. Yeah. So finding deals. Right?
Saqib Dareshani:So that's important. You know? So properties from MLS, Gigi, WellGenius properties, ad split. We also have foreclosures on the way. We're looking to linking from other data sources as well.
Saqib Dareshani:You know, the of the user experience, you know, again, the Tinder for real estate, like we have a very unique way of finding properties because again, you'll see investors are swamped, right? They don't wanna learn a brand new platform. It's gonna be too complicated. Right?
Scott Dillingham:That's it.
Saqib Dareshani:You know what I mean? Just keeping it simple for them. Right? Basically being able to subscribe to your buy box queries. You're like, hey, I'm looking for, you know, 6% cap rate in this area.
Saqib Dareshani:You know, year built is this, etcetera, etcetera. So you something that matches your buy box, boom, you're notified. Right? Nice.
Scott Dillingham:And you cover Canada wide? Are you in The States? Mexico? Like, where's your geographic area?
Saqib Dareshani:Totally. So right now we have most coverage in Canada and we have US properties. We have path split properties. We have pre foreclosures on the way, and we're also looking up we have plans to just even though we've been looking at The US MLS, but looks like from what I've been hearing with people, most of the deals are not on MLS. Right?
Saqib Dareshani:They're, you know, on off market. So, yeah. So basically that's what we're looking at right now, The US pre foreclosure. So we're gonna be there's a lot of inventory coming in from The US. And we also have country partners in Mexico and Dubai.
Saqib Dareshani:So a lot of coming from there as well. But that's one of the, I guess, the unique things about RealSwipe. We're aggregating properties from all different sources and different platforms, but also from different countries as well. Into one platform and providing a level playing field for investors. Right?
Saqib Dareshani:So for example, if there's a market in The US or Canada where the investor has too much equity locked up in that particular country, but they're not buying the right deal and so forth, or they wanna diversify geographically as well, we're like, hey. By the way, here are your similar numbers what you're looking for in Dubai. Similar numbers looking in Mexico, for example. Right? So that way, we're loving the playing field.
Saqib Dareshani:Thanks a lot, man. So they basically, the language is still there. And so they understand, oh, okay. This is the cap rate. You know what mean?
Saqib Dareshani:Because in Dubai, for example, you only have red yield. You don't really have cap rates, for example. Right? But like we're
Scott Dillingham:Yeah.
Saqib Dareshani:We're challenging the realtors, our partners in those countries that, hey, by the way, provide us with that additional information and we'll upload it. Right? And we're obviously leveraging AI as well. So that way, you know what I mean? Investors like us, what the the terms that we're familiar with, know, it'll, you know, it'll basically make it easier for us to invest overseas.
Scott Dillingham:Yeah. No. It's super cool. So it really is like Tinder. Right?
Scott Dillingham:Tinder, you can find someone locally. Right? You can find your local search, or you can join and have a long distance relationship, and you're supporting even the long distance relationships. So I love it.
Saqib Dareshani:Totally. Totally. And I think, you know, that's where, you know, again, branding comes becomes very important. Right? Like, you know, I always I'm always a fan of building something that's very unique.
Saqib Dareshani:Right? Every platform that you've seen, it's very vanilla. Right? You know, obviously, we're doing things differently, but also just in terms of user experience. You know, like, we wanna gamify this.
Saqib Dareshani:Right? That's sort of direction we're gonna go with this. Right? Are we gamifying it, making real estate investing a really upon experience? Because it I mean, let's be real.
Saqib Dareshani:Right? There is major housing shortage in both The US and Canada. Right? And we're gonna solve this by higher investor participation. Right?
Saqib Dareshani:You know, that could be developers, could be investors, whatnot. You know? And this could lead to new builds, you know, even tiny homes and whatnot. If we have greater participation, you know, I think that will lead to more supply in the market in the long term, you know, and help you to this drought causing prices and bring prices down eventually. You know?
Saqib Dareshani:So making the whole thing gamified. And last but not least, really leveraging the Tinder aspect of things. Like, for example, you know, people are dating. You know, you're dating with the property. You know, you're getting relationship advice, for example.
Saqib Dareshani:You know, like, really making the whole thing fun. You know? So I we're gonna have some fun on social media with
Scott Dillingham:That's super cool. I love it. I love it. No. That's awesome.
Scott Dillingham:So I love that you guys are expanding in all the different countries. So for somebody that's hearing this and they're like, I want this. Like, this is incredible. Where would they go or what would they do to access your app?
Saqib Dareshani:Yeah. So basically, they could just go on realswipe.ai. So realasinrealestate. Right? It's real.
Saqib Dareshani:And then swipe as in swiping left to right. Swipe.ai. Right? And basically, you know, and the goal is anyone that signs up through RealSwipe, you know, we wanna give them preferential terms, you know, and then, you know, we're working with you, Scott, on the mortgage lending side, because I know you're a rock star. We'd love to hear your story again, you know, on the podcast as that might be a great refresher.
Saqib Dareshani:But, yeah, man, like, working together and providing value, you know what mean? Let's make it a win win. That's really the direction I want to go. This platform is being built by investors like ourselves. Because we want to solve, if we solve the problems for ourselves and our friends and whatnot, it will solve this problem for others too.
Saqib Dareshani:And I can give a code that maybe we could use the let's we can maybe use the expand code, OCT expand. So October expand, but OCT expand. This way you guys will get the free trial. Then it'll be $9 a month. Right?
Saqib Dareshani:And this is all Canadian dollars, by the way. Right? Then $99 a month. If you guys want to increase because we are in beta, if you want to push out the $99 a month a little bit, you know, just message us. Right?
Saqib Dareshani:And we'll be happy to extend it until we're out of the beta stage.
Scott Dillingham:Okay. So OCT expand, I'll make sure to put that in the show notes. So if somebody's listening and they're in the car and they can't write this down, don't worry. That's right.
Saqib Dareshani:I'll put
Scott Dillingham:it in the show notes with the link to the website so you can join. So that's that's awesome. You do you have any any sort of final thoughts or notes or, you know, where's real story going that maybe you haven't maybe you could unveil here?
Saqib Dareshani:A 100%. A 100%. Well, there's so much to talk about. So I'll mention two things. So the first is our CRM.
Saqib Dareshani:So we integrate with different CRMs. So basically, what that means is, you know, we as part of the package that you sign up for, we actually help you set up your CRM as well. Because as you know, in a real estate business, it's all about obviously having a CRM and having a pipeline of deals. Right? So again, real estate is all about finding, analyzing, and closing your deals faster.
Saqib Dareshani:Right? Where we we replace deal check. Right? But also the CRM side, so you can have your own CRM, and we can leverage the CRM within RealSwipe too. We should really go high level.
Saqib Dareshani:For example, we've done voice agents, auto responders, dialers. We'll be setting it up with RealSwipe as well very, very soon so that you guys will see that, okay, we could do this for you as well. Know? So that's one thing. I'm really excited about that.
Saqib Dareshani:So AI bots, voice agents, and so forth. Right? Like for example, we were on stage in front of 300 investors, 73 people interacted out of the audience with our AI voice agent, basically chat bot. So really exciting about that. And last but not is our community.
Saqib Dareshani:Yeah, go ahead, Scott.
Scott Dillingham:No, no. I was just gonna say like, It's true. Because I spoke at the same event that you were at and one of the concerns that people had, right? Because I spoke about investing in The US and one of the concerns was like, how do I find properties? Do you know what I mean?
Scott Dillingham:So this is like, you're solving that problem for them. And especially if you do high level, not necessarily underwriting, but number gathering, I think that's super impressive. So you're right. It's needed. And sorry, I know you had point two there.
Saqib Dareshani:Yeah. Yeah. No. Thanks a lot, man. You know, man, that's that's just how we're improving.
Saqib Dareshani:You know? Like, anyone that joins us right now, you know, we're looking for your feedback and really grow this into something that works for all of us. Right? And you're also and my last point being is you're gonna be joining a community. Basically, we're starting up our real site community as well.
Saqib Dareshani:So we will be having masterminds. Investors We'll across US and Canada, and eventually abroad as well, like Mexico and Dubai and Singapore too. Talk about deals and investors are looking for deals and so forth. So for example, what's happening with RealSwipe? We're becoming the community of communities.
Saqib Dareshani:So we have the main community, but we're also bringing in partner communities too. So for example, anyone that joins the RealShift community, depending, you know, you fit that group criteria or whatnot, right? We'll introduce you to other groups too. So for example, there's an inner circle, another inner circle in The US. Each person in that audience has 500,000,000 assets in their hand on average.
Saqib Dareshani:Right. Which is pretty cool. Right. You know what they say, right? Your network is your network.
Saqib Dareshani:Right. So we're really about, you know, I know about Genius, Scott and I paid a healthy sum to join that group. Right? You know? Basically with real estate, you don't have to do that.
Saqib Dareshani:You know? So that's what I'm really excited about and really expanding our reach and helping each investor grow.
Scott Dillingham:Perfect. I love it. I love it. So, yeah, no, to wrap up here, and I know you're talking about my story, but I actually did a whole episode. It's our first episode about my story.
Scott Dillingham:So I don't wanna bore bore my listeners with it because they've they've already heard it. But if you haven't episode one, it's all there. But to wrap up this, I'll leave the notes with your link to your website and the code for everybody who's interested. Do you have any final thoughts that you wanna cover?
Saqib Dareshani:Yeah. I mean, I'm looking forward to working with anyone that signs up and provide us with feedback. And I'm really excited where Fealsight is going. I think we're solving a real problem.
Scott Dillingham:Yeah, I agree. I think you are too. So that's awesome. Well, I mean, thanks for joining us today. I really was excited to get you on, especially knowing, you know, there's very few people I know that are building apps and especially ones that really investors need.
Scott Dillingham:So I was really excited about that, but we'll make sure we get this out there. And thank you so much for for joining, Saqib.
Saqib Dareshani:It's my pleasure. Thank you for your support, Scott. No problem.