MASTER INVESTOR PROFILE
What do you do when your family comes to you asking for help with a defaulting tenant ? If you ’ re Ross Fitzcharles , you start your own PropTech company that takes the hassle out of managing rental properties while providing the financial security to cover the costs of defaulting tenants .
Born in Vanderbijlpark , Ross grew up in Krugersdorp and studied at the North-West University in Potchefstroom . “ I initially wanted to study at either Stellenbosch or Potchefstroom as those campuses seemed to offer so much more for student life . However , I ’ m happy my family convinced me to go to Potchefstroom and stay closer to home . I loved the student lifestyle combined with the occasional homecooked meal and free laundry service . After graduating with Honours in Risk Management , I moved to Joburg to start my corporate career .”
After working with investments and insurance at Momentum for five years , Ross moved to Deloitte where he gained experience in using innovative technology to provide strategic solutions . “ It was about this time when my parents asked me to help them with a problem tenant of theirs . My initial thought was that I would love to help , but I ’ m also kind of busy - Isn ' t this something that a real estate agency can manage ?”
“ The problem is that these rental property management services come at a high cost . Working in insurance and technology , I started researching for a platform that would make managing the property easy while also having the security of rental default protection to remove some of the financial stress when things go wrong . Basically , there was no solution out there , and that ' s when I saw the gap in the market .”
In June 2016 , Ross went to his Director at Deloitte and told him he had an idea for a new business that he wanted to pursue . “ The timing was fortunate , and I requested to take a six-month sabbatical to see if I could make it work . My Director always supported any entrepreneurial endeavour and said that I could always return if it didn ' t work out . With that peace of mind I then took the leap and created a presentation , backed by solid research , built some mobile screens and pitched to a few potential angel investors . It wasn ’ t long before I secured funding from a single angel investor , which was awesome . I then found a developer to help me build out an MVP , and we started working full time on the project . By the time the six months were up , we had something with so much potential that I knew I had to pursue this opportunity full time . I went back to Deloitte and told them that it looks like I won ' t be coming back after all .”
10 APRIL 2022 SA Real Estate Investor Magazine