When Paolo Boero and Matt McDonnell first met in Austin, Texas, they were both navigating pivotal moments in their careers. Paolo was scaling his vertically integrated real estate business while attending business school, and Matt was transitioning from his tech startup, Famigo, to real estate and law school. Their parallel journeys soon intersected, sparking a collaborative relationship fueled by their shared entrepreneurial spirit and complementary skill sets.
Paolo recounts the early challenges of real estate investment in Austin during its rapid growth in 2014. Without institutional backing, he and his team focused on smaller multifamily properties, primarily Class C buildings from the 1960s and 70s. These assets, often overlooked by larger players seeking economies of scale, presented opportunities for transformation—but only with significant effort.
To execute their vision, Paolo and his partners vertically integrated their operations, taking on property management, construction, and maintenance themselves. “We did everything in-house,” Paolo recalls. “It was the only way to create efficiencies in a market segment that lacked reliable vendors.” The hands-on experience proved grueling but invaluable, teaching them critical lessons about execution and operational scalability.
Matt, observing these inefficiencies from his own experiences, began exploring ways to apply technology to streamline real estate operations. The conversations between him and Paolo evolved into shared investments, where they saw firsthand how technology could address pain points and improve returns. For instance, they emphasized the importance of focusing on solutions tailored to specific operational challenges, leveraging real-time data for decision-making, and prioritizing adaptability in rapidly changing markets.
Their journey was marked by moments of trial and error. Paolo and Matt both stress the value of “scrappiness” in entrepreneurship—the ability to make the most out of limited resources. This approach allowed them to identify key areas where technology could make the most impact. “You have to be willing to kill your darlings,” Paolo explains, referring to the need to let go of ideas that no longer serve the business. “It’s about focusing on what works and being disciplined enough to move on from what doesn’t.”
The duo’s collaboration also underscored the importance of feedback loops. Partnering with early-stage startups, they provided real-world insights to refine tech solutions for property management. This not only improved operational efficiency but also laid the groundwork for their eventual move into venture capital.
By integrating technology into their operations, Paolo and Matt were able to streamline everything from maintenance requests to leasing processes, freeing up time to focus on scaling the business. These innovations set them apart in a competitive market and demonstrated how adaptability and strategic thinking could turn challenges into opportunities.
This collaboration led Paolo and Matt to reimagine how technology could bridge the gaps in real estate operations, allowing them to tackle inefficiencies and scale more effectively. The result was not just a thriving business but the foundation of a partnership that continues to explore the intersection of technology and real estate.
To hear more about how Paolo and Matt built their careers and revolutionized real estate with technology, listen to their episode of Navigating Complexity.