MATT BARBACCIA SETS OFF FOR THE MAINLAND AND ANOTHER CAREER CHANGE

By Lucy Kravitz, DLE Communications Intern, Junior at Syracuse University, Syracuse, NY

A career change is a normal occurrence that may happen over the course of a person’s life. However, a career change like Matt Barbaccias’, a devoted member of the DLE, was a unique journey that brought him plenty of growth and opportunities in his life.

After graduating as a biomedical engineering major from Syracuse University, Matt headed far west to Hawaii to begin a career in education. Working with Teach for America, he found a passion in teaching high school math and serving as a mentor. He describes the experience as “humbling and fulfilling.” However, when COVID-19 hit, Matt—like many—decided to re-evaluate his career direction.

“Teaching students during the start of COVID was challenging, and it came with various barriers,” recalls Matt. “The pandemic was a reality check. I realized that I wanted to  spend more time with my family in upstate New York.”

While this was a tough decision for him, he knew he needed to be bold. “I believe that it is important to dive into any career change that you want to pursue,” adding that having a self-improvement book handy to help with the learning process is a terrific aid.

Matt’s career shift connected him with Bigger Pockets in Rochester, NY, a provider of educational resources for aspiring and experienced real estate investors. He dedicated ample time to learning about a new industry—real estate. Matt first discovered the power of investing in real estate in Robert Kiosaki‘s book Rich Dad Poor Dad. He accredits Kiyosaki for helping him discover the four major perks of real estate investing: appreciation, loan paydown, cash flow and tax benefits. “The opportunity to pursue financial freedom and try to make this business model work made a lot more sense for me,” he explains.

When asked about the direction of the housing market, Matt admits he doesn’t have a crystal ball, but he does have his own opinion: “The first indicator for me is the Federal Reserve. When I see rates continuing to climb, I realize that housing inventory and sales will continue to fall because sellers won’t be looking to finance a new home. When the Federal Reserve placed interest rates at historic lows during the pandemic, many of these ‘would-be home sellers’ refinanced their properties; they’re more interested in holding onto their investments and keeping their lower interest rates.”

He adds, “Aside from interest rates, I am diversifying my asset class selection by adding apartment complexes to my portfolio. I am currently invested in condos and single-family homes. I serve college renters (mid-term), long-term renters (annual leases) and short-term renters (Airbnb and Vrbo). My strategy is to stay diversified. People will always need a place to live, travel remains a priority for many and the college I cater to is recovering its enrollment numbers post-COVID-19. We’ll see where the market takes us, but I am always adapting to changes.”

Matt credits his DLE experience with shaping his outlook on life and how he has approached his career change. “Through the DLE, I have met so many diverse members with different jobs and experiences. That unique diversity has made me realize that you can pursue whatever you want to do. And the support of DLE members gave me confidence along the way.”

Summing up, Matt declares, “The DLE is something that I continuously reach back to as a source of inspiration and to pull out inspiration from other people, too.”

If your 2023 resolution has you evaluating your career path, Matt is excited to serve as a resource for bouncing ideas and exploring options. Contact him at: mjbarbac@gmail.com.

The DLE is proud to have helped Matt with his career change. We wish him the best with his future endeavors, which includes marriage. Matt and fiancé, Carina, have set a wedding date of September 23, 2023.

Matt and fiancé, Carina