BiggerPockets Podcast 161: Turning Good Income Into Incredible Legacy Wealth with NFL Star Ryan Broyles
A lot of people make good income from their jobs, but few are able to turn that income into lasting, generational wealth. That’s why we’re super pumped to bring you this interview with professional football player Ryan Broyles. Ryan shares the strategies he used to turn the money made from football into rental properties that will provide for his future for decades to come. Ryan candidly talks about the creative strategies he’s used to pull off some impressive deals, the keys to working with partners, living life on a budget, and more. This episode is bound to change your outlook on investing, whether you are a football fan or not!
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This Show Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
Learn more by visiting RealtyShares.com/biggerpockets!
Fire Round Sponsor
A huge thanks as well to our Fire Round sponsor MileIQ.
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In This Episode We Cover:
- Who Ryan Broyles is
- A mandatory discussion on the NFL (and the Broncos!)
- Why he got into real estate investing
- Ryan’s first deals
- What exactly “legacy income” is
- How to avoid bankruptcy after a career
- Thoughts on lobbying for the rookie symposium
- How to know if you can trust a potential partner
- How to do your homework when investing with a partner
- What it was like when he was a first-time landlord
- Why you shouldn’t overthink making deals
- How Ryan manages via an LLC
- What you should know about bulk deals
- How he buys houses
- Why you should mix cash flow and appreciation
- The importance of continuous learning
- A micro way of thinking about budgeting
- A discussion on living within your means
- A look at Ryan’s blueprint
- What to do when you reach your goals
- Why you should have a “unit perspective” in real estate
- What Ryan’s long term plan looks like
- And SO much more!
Links from the Show
Books Mentioned in this Show
- “You can keep exploring real estate your whole life.” (Tweet This!)
- “If I don’t get the best deals, I’m not going to take them because I’m already where I want to be.” (Tweet This!)