Jeff Holzmann, is an experienced executive with over 20 years of senior management experience, mostly with high-tech and investment firms. Holzmann started his career as a software engineer at Koor Industries, the largest conglomerate in the Middle East, and has served as the CEO of Genius Technologies, a private investment firm. He also served as the CEO of Gray Interactive in Israel, vice chairman of MLL industries, and president of Perion Networks in New York. Holzmann co-hosted a popular radio and television show about technology, he holds a BA degree from the IDC, and is a graduate of the Israeli Army. Holzmann is also a commercial airline captain, and a husband and father of two girls, residing in the New York area. Jeff currently serves as the managing director of international real estate investment firm, iintoo.
What made you decide to get into real estate?
I spent most of my professional adult life in the cross section of technology and digital utilities. As the word of real estate became more accessible and adapted digital tools, I was attracted to the enormous potential it had to help people by reducing costs, increasing access and information, and creating a secondary market of investments.
What advice would you give to people who are not in real estate but who want to tap in to the earning potential?
Real estate is not always simple and will take time to learn. I strongly advise against jumping into a deal before you know the ropes. The best idea is to consider becoming a part of a group of people investing alongside a professional that has vetted the sponsor, analyzed the deal, and has the knowledge and capacity to monitor and control the day-to-day. Consider using companies like iintoo that give you an opportunity to learn a lot about the project and become a direct owner in commercial grade real estate, but with a relatively small investment.
What are the hottest areas in NYC right now?
The Lower East Side and Brooklyn are on the verge of a second revival. The LES because the area is being gentrified and conversions of formerly commercial spaces to residential and entertainment are reshaping the very fiber of the neighborhood, and Brooklyn because of the increased access and telecommuting jobs that no longer limit the good jobs and lifestyle to Manhattan alone.
What is an important risk management issue that you are dealing with in real estate today?
It’s all about reducing risk at the end of the day. That’s why I spend most of my time looking for solutions for regular folks that give them the same protections from loss that the ultrawealthy have in “structured finance.” My team and I are working on bringing investment opportunities to the common people that have the same risk profile as the pros. I strongly believe that people want less risk even at the price of lower returns.
Tell us about some of your projects.
We like to focus on secondary and tertiary markets. These submarkets tend be less volatile and hence less risky for investors. While some people only want to live in class A, trophy style buildings, we can’t all afford to be luxurious. From an investment standpoint, I don’t fall in love with the asset, but with the deal metrics and economics.
What is your secret weapon for sealing a deal?
Building trust. Regardless of what anyone tells you, business is done between people. I always strive to meet the people I work with in person, look them in the eye, and see who am I dealing with. I also want to give them a chance to measure me up, and I always stick to my word. Over time, this is a winning strategy.
What pushes you to the next level?
I love to make progress, affect change in peoples’ lives, and see the smiles on the faces of my customers as they exit from a real estate deal they invested in and ask me about rolling their savings to another one with us. These are real people that are saving for retirement, getting their kids through school, or paying for a wedding. It’s a blessing to be in a business that helps people, and that keeps me motivated.
Who inspires you?
Elon Musk. He has affected real change in the lives of all of us. He is under tremendous criticism and some say he is totally insane. I don’t know him, but to see someone push against all odds and literally reach the stars is inspiring. I am also a big fan of David McCullough and his very detailed work on such projects as the Wright Brothers and the Brooklyn Bridge.
If you had to work in a city other than New York, where would it be?
I would be in New Jersey, because it is close to New York. All joking aside, I have lived and worked in several countries, and one of my greatest passions is travel. Each place is unique and what you make of it. There are amazing places in this country and beyond, but the key is always the company of people you surround yourself with.
What advice would you give to someone starting out?
Honesty and transparency. Real estate is and always will be a market. There will be ups and downs, regardless of what you do. Know the rules, be creative, and always be honest.
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