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The Home Service Expert Podcast

Peter H Thomas (Century 21 Canada Founder) Losing $70 Million and Why He Never Panicked

The Home Service Expert Podcast

Tommy Mello

Management, Business

4.7 β€’ 793 Ratings

πŸ—“οΈ 29 May 2026

⏱️ 14 minutes

🧾️ Download transcript

Summary

πŸš€ FREEDOM 2026 Get your Tickets Today! https://homeservicefreedom.com/

Peter Thomas built $8 billion in real estate β€” then lost $70 million when his silent partner went bankrupt. At 87 years old, he's sharp, happy, and still building.

Tommy gets the real story: how Peter faced 18 creditors with nothing, negotiated every single one, and rebuilt from zero. The lesson? Your skill set and your network are the two things no collapse can ever take from you.

-- πŸ• TIMESTAMPS πŸ• --

00:00 Peter Thomas introduction

01:15 Century 21 Canada 1974

01:34 Built $8 billion

02:13 Biggest failures discussed

03:39 Living well at 87

04:31 What are your values?

04:45 Health and freedom aligned

06:05 Choose your life partner

06:19 Give everything away

07:09 Tommy grew up alone

07:40 Partner went bankrupt

07:58 Down $70 million

08:41 Skill set always survives

09:16 What was next move?

09:42 Negotiating 18 creditors

10:20 Worked all 18 deals

11:00 How to find Peter

11:29 Happiness is a choice

11:48 Tommy's life at 45

12:26 Manifesting your future

πŸš€ FREEDOM 2026 Get your Tickets Today! https://homeservicefreedom.com/

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Live Q&A submission form: https://homeserviceexpert.com/questions

Transcript

Click on a timestamp to play from that location

0:00.0

All right, guys, check it out.

0:01.3

I got Peter Thomas in the house.

0:03.1

This guy is 52 years old.

0:07.1

You got quite the history, Peter.

0:09.8

Why don't we just tell us a little bit about you?

0:12.6

Your history.

0:14.8

Tell me your three biggest mistakes, too, because we were talking about that earlier.

0:19.2

The mistakes are not listening to my wife enough.

0:23.7

If you'd listen to her more and I'd be probably more successful.

0:26.0

Listen to the wife, Rita.

0:27.6

But I think when I got started in marketing in sales,

0:31.6

I started selling mutual funds when I got out of the Army.

0:35.3

And then went into franchising and learned about franchising. I was lucky enough to be able to acquire the rights for Canada for the century 21 concept, the real estate concept. Century 21 of all of Canada. Yeah, yeah. And that was sort of my first time. And what year was that? 74. 1974. Yeah, 74. Yeah, 74. Yeah. really got lucky and I've always been blessed that I get great people around me.

0:59.0

Everybody around me is much smarter than me.

1:01.0

Yeah, I know that goes.

1:02.0

And so, you know, the people help you and you grow, and we grew that one to about $8 billion.

1:07.0

That was my first.

1:08.0

Eight billion.

1:09.0

Yeah, in sales.

1:10.0

That's fantastic. It was, it was an amazing concept and pretty wonderful. I got lucky and lightning struck twice. I had another company called Dogtopia. Dogtopia were the, they take care of dogs. Dog, yeah, doggy day care, yeah. A lady had, she had about about 15, 20 stores and was kind of struggling looking for money.

1:28.5

And so I wanted lending her some money.

1:31.5

And then that loan turned into equity.

...

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