Matthew Iovane is a beverage start-up entrepreneur and real estate investor based between New York and Los Angeles.
Iovane is a partner at internationally acclaimed Junmai sake brand HEAVENSAKE www.havensake.com and has most recently joined as an investor/partner at Bloc Collective, a pre-mix canned cocktail company. www.bloc-collecive.com
Matthew is also the Founder and CEO of Outpost Estates LDT, a private real estate portfolio comprising residential homes in central London, England. His passion for architecture and interior design allows his invested interest in real estate to come naturally.
Matthew holds a B.S. in Philosophy with Science and A.I. from the University of Hertfordshire, England. While currently based in the U.S., he maintains citizenship in the United Kingdom, United States, and Italy.
How did you get started in this business?
I started in real estate at an early age; I’ve always been very interested in architecture and interior design; I think my love for this world comes from my father who really planted the seed of understanding the game of real estate in my mind as a young man which is now become both a passion and a career for me.
How do you make money?
Before Money is made in real estate, large sums of money are required. Real estate provides a fantastic way of gaining a passive income while sitting on an appreciating asset. Generally speaking the type of landlord I feel fits with my goals are to secure long time lease holders, as opposed to short-term renters; while short term renters can be charged a higher nightly or weekly rate, there is a great deal of work, logistics and management involved with handing over properties to multiple different occupants at various times through the month or year. Long-term tenants provide a safe and stable income which frees up any real estate investor to form annual revenue projections and in turn gives them time to search for any other great investment opportunities.
When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
I think doubt is an important feeling or thought pattern and if this steps in the way of a prospective investment I generally feel there is a reason why. Hard work, self belief and calculated, advanced research should narrow that margin of doubt so much that it becomes negligible and the property you are seeking to invest into; through thorough research, has all the credentials to make it a successful investment
How did you get your first customer?
I generally like to use our in-house agency to manage tenants, contracts, leases, viewings maintenance, locksmiths and all of that other fun stuff that comes with owning real estate. So our first contracted tenant was found through our internal portal and network of prospective tenants who are looking for homes that matched their criteria and our portfolio.
What is one marketing strategy (other than referrals) that you’re using that works really well to generate new business?
I know it’s old school and I know it’s cliché but I think word of mouth is the most powerful marketing strategy that keeps any property at maximum capacity throughout the year. We are lucky to live in a digital age where almost any real estate app or service provider can support private landlords manage and maintain occupancy, something we lean on at times.
What is the toughest decision you’ve had to make in the last few months?
During Covid the housing market has fluctuated greatly and within that fluctuation house prices have increased astronomically in key markets like London, New York and Miami. I was presented with a really exciting, yet tough opportunity to purchase a beautiful residential home in Miami Florida, however the seller was unwilling to receive an offer aligned with the appraisal of the property and I knew this was the case due to market inflation; that property was being sold for approximately 20% above pre-Covid ‘market value’. I had put forth my offer and agreed to meet the guide value; inspections were made the appraisal was completed however due to Covid restrictions and lockdowns which began intensifying during contracts exchanging, I decided to back out; the uncertainty of the market with the covid climate clouding my judgment made this a really hard decision for me at the time.
What do you think it is that makes you successful?
Finding the right property by researching the market and understanding comparables. Looking not only at the rental market and what you feel that property could achieve annually, but also measuring against other homes in that neighborhood the possible asset increase your property will make over the course of a five-year period based on historical data which fortuitously we all have access to through great apps like Zillow, USA or Rightmove, UK. I also think having a strong network of agents who give you access to properties that are off market can be a great headstart before that property gets in front of the eyes of other investors. This requires time and effort to build a relationship with a specific agent/broker that you feel comfortable with, you trust and you can rely on to provide that type of information.
What has been your most satisfying moment in business?
I purchased my first townhouse in London, England. A four-story old dairy home dating back to 1821 which has now been sensitively renovated and fully restored; maintaining all original features while harnessing a contemporary yet mid century modern interior feel to it.
What does the future hold for your business? What are you most excited about?
Now we are over the covid hump, we now have the ability to view homes in person again! and not through a zoom call! and I truly believe when making a property investment it’s important to touch the bricks and mortar, it’s important to walk around the property, it’s important to take a look at the street, the neighborhood, the local cafés, shops, restaurants look at the cars understand the lifestyle in that neighborhood get a feel for the energy of the home. All of these factors are crucial to making a stalwart investment.
What business books have inspired you?
The guide to passive income by Andrew Lanoi
“In an unprecedented time in the world, millions of people are realizing they can no longer count on just their 9-5 job or one stream of income. These pages contain the exact strategies Andrew Lanoie used to retire from the rat race in his 30’s. And he will teach you 11 of the best income-generating assets available today. What Andrew is talking about is truly passive income. The kind you can quite literally make in your sleep. The kind that trickles into your account each month or each quarter regardless of whether or not you even get out of bed. It’s only by generating this kind of income that you can achieve the type of financial freedom and wealth to enjoy life on your terms. With enough passive income, you can stop living a life of worry and start living one filled with abundance, confidence, and tranquility”
What advice would you give to your younger self?
Be brave, be bold and take calculated risks.
Are you willing to be a mentor? If so, how should someone contact you?
Yes, absolutely. Reach out to me with my social media below.