Pro Athlete setting the foundation for life after the game

OP

Rental Property Investor · Philadelphia, PA · Member since 2021 · 24 posts · 47 votes

5y

@Levi T.

thanks for the advice! i appreciate it

OP

Rental Property Investor · Philadelphia, PA · Member since 2021 · 24 posts · 47 votes

5y

@Joaquin Camarasa

great advice! #2 is exactly what i want to start doing. i’m in philly this year so hoping to start that process asap

i appreciate it!

Keenan Fitzpatrick

Flipper/Rehabber · Anchorage, AK · Member since 2017 · 223 posts · 177 votes

5y

@Greg Ranjitsingh welcome to BP! I think that you’ll find that the skills you’ve learned will translate really well. There’s a lot to get lost on but if you focus on taking the next right action then you’ll get to where you want to be. Best of luck to you!

OP

Rental Property Investor · Philadelphia, PA · Member since 2021 · 24 posts · 47 votes

5y

@Keenan Fitzpatrick

thanks. i appreciate it!

Ian WalshBusiness Member

Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes

5y

Congrats. I am local to Philadelphia so I know the area well. My suggestion would be to learn how to make it in this business without recognizing your money. If you can make it via marketing and learning your market on a 'shoe string' budget, you will know exactly what to do with your current funds when the time is right. I have seen a lot of people lose a lot of money because they started to buy things out of the gates due to the fact that they had money to begin with. It is good to have that resource, but pretending you don't have it for a few years can go a long way in this business.

Brendan Markle

Newtown, PA · Member since 2018 · 172 posts · 81 votes

5y

Hey Greg! I would love to meet up sometime while your in Philadelphia, i've been an investor for over 4 years in the city now, and have been steadily building a portfolio of rentals. As long as you really nail down the criteria of what your looking for you should be able to build fairly rapidly, and a lot of the values that made you a successful soccer player will transfer nicely over to real estate.

OP

Rental Property Investor · Philadelphia, PA · Member since 2021 · 24 posts · 47 votes

5y

@Ian Walsh

thanks for the tip! i’ve been weighing the options of buying a property to live in right away while i’m here and then putting a tenant in it when i leave vs. renting, understanding the market first, before i jump into buying my first property.

i appreciate your advice, i’m definitely considering your strategy and what will work best to begin my real estate journey

cheers!

OP

Rental Property Investor · Philadelphia, PA · Member since 2021 · 24 posts · 47 votes

5y

@Brendan Markle

let’s connect brendan! would love to meet up and discuss real estate success in philadelphia

James Wise

Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes

5y

Originally posted by @Greg Ranjitsingh:

Hello everyone,

My name is Greg Ranjitsingh and i’m heading into my 7th year of professional soccer. At the beginning of my career, I never thought about preparing myself to be financially successful without soccer. In recent months however, I have done much research in setting myself up for life after the game, making sure that I start the right investments so that the transition is smooth.

I started listening to the biggerpockets podcasts on the way to trainings which sparked my interest to begin investing in real estate. I’ve read a few books the podcast guests have recommended, watched many youtube videos, and have been scrolling though the forums to gain a base understanding.

This year i’m ready to start my real estate journey so I just wanted to hop on here quick and introduce myself and share my story. I’ll be in Philadelphia this year so if there is anyone in the community who would like to meet up to share ideas, please don’t hesitate to reach out.

Cheers!

Welcome aboard playa.

OP

Rental Property Investor · Philadelphia, PA · Member since 2021 · 24 posts · 47 votes

5y

@James Wise

yessir! excited to join the community

Podcast Guest on Show #222

Dorian Weber

Real Estate Agent · Wellington, FL · Member since 2018 · 36 posts · 17 votes

5y

Ex - Pro athlete here who did a sport that paid no money but I got to do some cool Team USA stuff. I wish I started when I was your age (10 yrs my junior)

my advice which I wish someone told me 10 yrs ago

1) max out the Roth IRA if you are eligible

2) start investing in real estate - buying a unit in each town I live in and either having roommates to help save the cash and then turning into a long term rental after I leave

2 Reply

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

5y

Originally posted by @Joaquin Camarasa:

I would think about two strategies.

1. All properties in the same city. Start thinking where you are planning to live after soccer. Start researching that specific market educate yourself and get confident to put a long term plan in action.

2. Properties in different cities. You guys usually change teams and cities pretty often. When you move to a new city start researching areas and educating yourself about the market. You could buy one house in every city you play as your primary house with a low downpayment. Live there for a year or two, place a property manager. Rinse and repeat. You should have quite a few properties after that.

I think though you can only have ONE low down payment loan at a time.. he would have to refi the first one before he bought the second one but I sure like that .. or if he buys in nicely appreciating markets and lives there two years as a primary he can simply sell collect his TAX FREE Profit and keep stacking dollars up..

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2 Reply

Debbie FalesBusiness Member

Lender · Annapolis, MD · Member since 2018 · 145 posts · 47 votes

5y

Kudos to you for thinking all of this through! My advice is to start building your team — it can take time to find a great contractor or a lender you can trust. Networking is the key. Best of luck to you on your journey!

[email protected]888-444-3160

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Todd Rasmussen

Rental Property Investor · Clarksville, TN · Member since 2016 · 1k+ posts · 1k+ votes

5y

@Greg Ranjitsingh

Glad you are thinking ahead. @Jordan Murrell seems to have hit the ground running from a similar background.

Jordan Murrell

Las Vegas, NV · Member since 2020 · 162 posts · 113 votes

5y

@Todd Rasmussen

@Greg Ranjitsingh

Thank you for the tag Todd! Greg and I have been friends for 15 years.

Greg! Welcome to BP brother.

Any questions you may have please let me know. Some other ballers are on here also like @Tesho Akindele . Let’s connect this week!

4 Reply

Ian WalshBusiness Member

Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes

5y

Sure. No problem

Originally posted by @Greg Ranjitsingh:

@Brendan Markle

let’s connect brendan! would love to meet up and discuss real estate success in philadelphia

OP

Rental Property Investor · Philadelphia, PA · Member since 2021 · 24 posts · 47 votes

5y

@Debbie Fales

thank you!

Joaquin Camarasa

Real Estate Agent · Springfield VA · Member since 2018 · 480 posts · 400 votes

5y

@Jay Hinrichs they usually a low to have two low downpayment loans, if you move due to a new Job oportunity and is 100 miles away from the prior one.

Definitely, the buy and sell could be an option too.

OP

Rental Property Investor · Philadelphia, PA · Member since 2021 · 24 posts · 47 votes

5y

small world @Todd Rasmussen

me and @Jordan Murrell grew up together, that’s my brother from way back. let’s chat soon my guy.

Also played together with @Tesho Akindele

Happy to join the community with you guys

OP

Rental Property Investor · Philadelphia, PA · Member since 2021 · 24 posts · 47 votes

5y

@Dorian Weber

Thanks for passing on the tips!