Identifying the right location, moving at the opportune moment, using debt financing wisely and controlling costs are the key ingredients for rewarding real estate investments, according to Matthew Wright, a real estate investor and founding partner of IWC Capital Management.
Wright has always had an interest in real estate and first caught the real estate bug while working at Citibank in Kingston. Ironically, it was a Coldwell Banker agent who presented Wright with an opportunity to buy an apartment pre- construction in Norbrook and the deal proved to be a solid investment when the property sold for multiples of the purchase price five years later. Wright went on to acquire several more residential rental properties in Kingston.
A lot has changed since Matthew Wright’s first dabble in the real estate market. Wright has grown to love the business so much that today he is the managing partner of IWC Capital Management, a real estate fund that buys apartment buildings in gentrifying neighbourhoods in New York City, using funds raised in Jamaica.