On The Market 76: Why NFL Players Are Buying Real Estate During the Recession w/Cliff Avril and Devon Kennard
Who’s buying real estate? Maybe you are, maybe your friend is, but what about NFL players? Most casual fans would assume that getting paid millions of dollars a year would ensure a long-lasting retirement, but this isn’t always true. For many professional athletes, you’re constantly living one injury away from having no income. If, like many newly-signed pros, you splurge your first few years of checks, you could enter into retirement flat broke without any of the millions you earned.
This is the exact opposite of what Cliff Avril and Devon Kennard did. They knew that their career earnings started ticking away the second they stepped onto the field, so they made moves to protect their wealth in other ways. Although numerous financial advisors told them to play it safe with index funds, REITs (real estate investment trusts), or other more “passive” investments, they decided to multiply their active income by investing heavily in real estate.
And, even during an economic downturn, these two financial powerhouses are still investing, trying to maximize their dollar as much as possible. In this episode, we chat with Cliff and Devon about syndications they’ve invested in, how they’re staying up-to-date in today’s wild housing market, where they’re investing, and why they picked real estate over all the other assets. You don’t need to be a pro football player to take these lessons to heart, so stick around because this episode is bound to make you wealthier!
In This Episode We Cover
Why so many professional sports players choose real estate as their chosen investment
Real estate vs. stocks, index funds, REITs, and other more “passive” investments
Real estate syndications and how to vet the operator who’s running the deal
Investing during a recession and how Cliff and Devon are reacting to this changing market
The “core four” every real estate investor needs in a property market
Normalizing the investment conversation and making sure your circle is building wealth together
The similarities between running a play and buying a rental property
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Connect with Devon & Cliff:
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-76
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