How to own 6,000 units by 38

Question

...just play third base for the Yankees:

http://ftw.usatoday.com/2013/12/alex-rodriguez-miami-condo-sale-yankees/

I love seeing pro athletes invest their money wisely instead of blowing it all while they're stars, only to end up broke in retirement.

Jacob A. · Answer

Sounds like he pumped those properties full of steroids!  Heyooooo, too soon?

I kid, I kid it's refreshing to see this.  While he clearly is not a role model on the baseball field because of his mistakes, he definitely is one off of it.

Account Closed · Answer

Michael,

And I thought that was your goal when I read the title of the post. :)

Erik Palmquist · Answer

@Joshua Dorkin Maybe you could get A-Rod as a guest on the podcast since he has so much experience investing!

John Rooster · Answer

6% probably does not include appreciation. And he is also probably getting some substantial tax benefit from depreciating the properties.

Samson Kay · Answer

I saw a Youtube video the other day called "Road to 7000" about a guy in the mid west or somewhere trying to build his portfolio to 7000+ units.

He was at 100 units the last video I saw. Wish that could be me someday.

LOL.

Dmitri L. · Answer

Hmm.. 100 in 5 years puts me at 34. I'd have four more years to pick up the remaining 5900 - piece of cake with the right "juice"!

Great stuff - boring is good when you have a steady income coming in. Base hits!

Joshua D. · Answer

@Erik  Palmquist - We'd love to have him on the show . . . anyone have any connections to the Yankees or ARod?

Michael Seeker · Answer

Here's another article on some of the rentals his company owns:

http://www.nytimes.com/2007/12/07/sports/baseball/07roberts.html?pagewanted=all&_r=0

The reporting sounds a bit biased.  From the descriptions of these places though, I hope he's getting better than a 6% return on his money.  Regardless, it's still much better than spending $60M on parties, private islands, jets, etc.

Jon Klaus · Answer

Yeah, the real story is hidden on those homes.  I suspect he bought those Miami properties in the down turn and is taking his profit in this rebound.  $15mm profit on the big one--wow!

100% appreciation

How to own 6,000 units by 38

Most Popular Reply