the path of celebrities and athletes; Why professional athletes invest heavily in real estate

the path of celebrities and athletes; Why professional athletes invest heavily in real estate

The career life of most athletes is short-lived. 3.5 years is the average number of years WNBA players have to play at a high level. For most athletes, every day is not just an opportunity to improve on the court, but also a day to prepare for what the future may hold.

Liberian-American basketball star matte agavon She made a great start to her career by winning the gold medal at the Pan American Games in Rio de Janeiro, Brazil while attending Rutgers University. Her team, led by famed coach C-Vivien Stringer, also went to the 2007 NCAA Championship game against the University of Tennessee, but failed to win.

When the Houston Comets drafted Mate Agavon ​​as the fifth overall pick in the 2008 WNBA Draft, she immediately knew she was given an opportunity that most athletes only dream of in their lifetime. Mattie was one of 144 women who could actually call themselves WNBA Professionals.

Her career has overcome odds by continuing for 10 years. Matty played for the Houston Comets (1 year), Washington Mystics (5 years) and Atlanta Dreams for the last four years of her career. She also played in 5 different countries including Turkey, Brazil, Israel, Poland and Romania in the off-season. Traveling abroad has allowed some WNBA players to earn up to 10 times the salary they would have earned in the WNBA.

In the later stages of her career, Mattie admits that she always felt the need to diversify her earnings and investing. Her search eventually led her to the Real Estate Gurus. A company led by real estate professional Justin Giles. She introduced then-retired Giles Matti Agavon ​​to a whole new world by helping her build a real estate investment company.

Giles is a well-known real estate advisor and licensed real estate broker for over 17 years and has been behind the creation of quite a few athletes turned real estate investors. He uses his Instagram social media platform to educate and connect his many followers on ways to simply start investing in real estate.

His strategies as explained by two of his books, Zero Down And the Learn to hunt and eat forever, It was also widely received and critically acclaimed.

The number of former and current athletes investing in real estate has doubled over time. Roger Staubach, Emmett Smith, Magic Johnson, Shaquille O’Neal, David Robinson, Alex Rodriguez and Martin Braithwaite immediately come to mind.

Familiar market

Professional athletes, especially in leagues such as the NBA, WNBA, or NFL, are often traded from team to team during their careers. This also means that they have to buy or rent real estate from different parts of the country.

Athletes rarely have the opportunity to play for their local teams, which means they are likely to hold at least one property at any given time. One is their home and the other is their current location.

While many of the players on the first list may have people pulling real estate deals together, most of the others have to get involved in person. This, in turn, puts them squarely in the hustle and bustle of the industry. Whether they know it or not, many athletes end up as real estate investors or somehow develop an idea or love for the industry.

Senegalese-born Chicago Bulls star Loul Deng has started a real estate seminar to educate players about the value of the sector. At the time he said, “I’ve always loved real estate and wanted to do something in Chicago for a long time.”

“We talk about players going bankrupt, but we don’t talk about why that happened,” Deng says. “The seminars were a way to teach players about real estate and promote a better understanding of these types of investments.”

Bar with low entry and high availability

Few people consider the real estate market to have a low entrance due to the high prices of real estate. Not every athlete can afford to pay $36 million in a Beverly Hills mansion like LeBron. But according to Giles, they don’t have to;

“Athletes often look to invest their earnings and savings in the real estate industry. So they have to learn the art of finding the best deals from anywhere in the country. At every price point, there will always be a profitable property available somewhere as well as loans available to help anyone obtain Real estate “.

“Although some professional athletes may be familiar with buying and selling real estate, they still need to learn the small details of how In fact Buying and selling real estate astruly Business“.The first thing is to learn how to find these deals that may not be in sight, then how to renovate these properties with the help of contractors, and last but not least, how to turn them into good profits.”

The real estate market also offers many options for investment; While athletes like William Sweet of the NFL buy and rent their properties, others can choose to switch homes or buy and hold assets as part of their real estate portfolio.

“There are real estate entering foreclosure, and I teach people how to stop foreclosure even 24 hours before the auction.” Giles explains, “There are homes owned by deceased individuals who have passed away without a will. And when that happens, there are ways to help their heirs claim that property and then buy property from them. If you know where to look, property is always available using these strategies.”

Robbie Fowler, the former Liverpool star and England footballer who is now valued at 30 million pounds ($34 million), also said: “Don’t get me wrong, not everything went into the property at the time. And I didn’t just invest on my own, Because when I was 18, I couldn’t stand it, no matter what people thought about footballers.”

“I invested with partners. It was all through the advice I received, not because I knew anything or wanted to know, it was completely by chance.”

He continued, “When you’re 18, I think that’s probably the last thing on your mind. You obviously sign new contracts and you want to get out, you probably want a new car, and you get all the things you didn’t have.”

“But then all of a sudden, there comes a time where you think: Ah, I need to pull the reins a little bit here and maybe take care of my life after football. When I was 18, that was out of my mind, but over the years, it really came true.”

passive income

The dream of every investor is to have a portfolio that generates more passive income than active income. Athletes and celebrities often invest in stocks and bonds for passive income, but the volatile markets have dissuaded many of them and made real estate investing more attractive. This desire for passive income has led many professional athletes to invest in real estate investment trusts (REITs). While REITs are often considered safe, they are also a long-term strategy.

“After the 2008 housing crash, I found myself in a lot of debt. But somehow, I decided to stick with real estate, and over time came up with investment strategies that made real estate investing virtually recession-proof.” Giles believes there is no such thing as a bad real estate market.

If the investment successes of NBA greats like Shaquille O’Neal and Magic Johnson are anything to go by, professional athletes will be investing in real estate for quite some time.

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