21.02.04 – By Angel Rodriguez: You have guys who three years after they won a championship, don’t have any money. Then you got guys like me who are making money 25 years after they won the championship. I just sold a Latin salsa club I owned, I am selling 58,000 square feet of my 82,000 square-foot building in Easton…” – Larry Holmes
The only thing that keeps boxers from breaking the vicious cycle of retiring broke is a foolproof plan and a phone call to a real estate investment analyst. Left-hooking landlords Fernando Vargas, Mike McCallum, and Larry Holmes are all financially set for life because most of their retirement is fueled by real estate.
These men turned yesterday’s boxing payday into a lifetime of millions by wisely buying up houses, condos, duplexes, townhouses, and apartment complexes to later rent out or sell.
I spend 70 hours a week (too much for most of the readers and editors who want to see more articles from me) making money for real estate investors by buying, selling, leasing, and/or renting properties that are located in the state of Florida. Boxers can just as easily make money in real estate long after they stop making a fist.
Most businesses require a lot of start up cash up front but don’t guarantee that the investor will ever break even. Retail clothing stores, restaurants, and car washes are all risky gambles because they depend on people coming to them every day to buy something that they want, yet don’t absolutely need to survive.
People will, on the other hand, always need a roof over their head and will work 80 hours a week if they need to for shelter, whether their house is worth $100,000 or $1,000,000.
As a result, an investor doesn’t have to constantly pour money into a property for it to make money for him or her, because wisely purchased properties will increase in value year after year.
With proper guidance a boxer can find and buy the right property, hold on to it for a few years, collect rents, and then sell it for a profit. The loan programs that are available in the industry allow boxers to take their first small step into the world of real estate, with as little as a $10,000 investment. On the other end of the food chain, a marquee boxer who 1) invests $1,000,000 from a career high payday, 2) never fights or saves money ever again, 3) and wants the lowest risk investment available, could still receive $7,000 the first week of every month for the rest of his life.
This steady income, regardless of an upcoming payday / fight, will guarantee that a boxer will never have to suffer the humiliation of begging for or borrowing money during or after his career. People in and around boxing have too often seen the sight of a punch-drunk boxer pleading for another title shot. A boxer will sacrifice whatever is left of his severely diminished blood, brains, and body for just enough money to avoid eviction, incarceration from backed up child support payments, and a cup of coffee if he’s lucky.
The added benefit to owning rental property is that the boxer / landlord gets to keep more money earned from his boxing paydays because rental property serves as a tax shelter. Wise investments allow your money to work for you, securing the legacy that you want passed down to your children. Remember, the best way to help the poor is by not becoming one of them.
[Angel Rodriguez is a Florida state-licensed realtor and real estate investment analyst, who would be honored to show anyone – especially boxers – interested in knowing how to accomplish all of these goals for themselves. Mr. Rodriguez can be reached at (407) 484-5150 or bigange1@msn.com for further consultation. ]