Investing in the states, while playing basketball professionally overseas
Keene, NH · Member since 2023 · 22 posts · 13 votes
Investing in the states, while playing basketball professionally overseas
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Gino BarbaroPro Member
Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votesWhat a great problem to have. You can always begin investing at any point in your life, but playing professionally may only come once or twice in your life.
I would select a market, start to build a team, and look for potential people to partner with. Learn how to work with third party property management.
You can also seek out others who are active in the market you're looking at, and see if you can join their team.
This is probably the easiest way to start investing while focusing on playing professionally. When you decide to leave basketball, you will have real estate waiting for you.
Best of luck
Gino
11 Replies
- Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes3y
It's possible, and it will also be a disaster. Unless you have someone you trust to manage a crew that is self sufficient your operation will crumble. I have a hard time getting contractors to finish projects up to my companies level of quality, timeline, and budget and I am in the same city.
- Investor · Kansas City, MO · Member since 2020 · 400 posts · 278 votes3y
It's very doable, just has its own challenges. I had someone on my podcast who was a government contractor in Kenya and purchased a massive portfolio while she was there, but she leaned on her team to fill key roles that would have been impossible or improbable for her to fill on her own.
Passive investments is also a great option for you at this stage in the game, in Syndications or Funds, where you're 100% passive so you can invest from anywhere in the world. Your work is more spent doing due diligence on the operator you're investing with and on the properties they're bringing as opportunities (in a syndication, in a fund you have less say in the properties bought).
I'll shoot you a DM as well.
- Real Estate Syndicator · Milwaukee, WI · Member since 2018 · 1k+ posts · 907 votes3y
You likely want to look into investing in syndications as an LP. Trying to buy and manage a portfolio from a different country is possible but going to be much more work and potential risk. If you have the cash to be able to invest $50K sums into syndication deals, it is a completely passive experience that will allow you to build a real estate portfolio with minimal time commitment.
- 3yGino BarbaroPro MemberRental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes
What a great problem to have. You can always begin investing at any point in your life, but playing professionally may only come once or twice in your life.
I would select a market, start to build a team, and look for potential people to partner with. Learn how to work with third party property management.
You can also seek out others who are active in the market you're looking at, and see if you can join their team.
This is probably the easiest way to start investing while focusing on playing professionally. When you decide to leave basketball, you will have real estate waiting for you.
Best of luck
Gino
- Keene, NH · Member since 2023 · 22 posts · 13 votes3yThanks Gino,
Quote from @Gino Barbaro:
What a great problem to have. You can always begin investing at any point in your life, but playing professionally may only come once or twice in your life.
I would select a market, start to build a team, and look for potential people to partner with. Learn how to work with third party property management.
You can also seek out others who are active in the market you're looking at, and see if you can join their team.
This is probably the easiest way to start investing while focusing on playing professionally. When you decide to leave basketball, you will have real estate waiting for you.
Best of luck
Gino
I have considered buying property before I leave the States and allow myself some time to analyze and find a deal that is consistently cash flowing and running smoothly before leaving.
Following that, higher a property manager to run my property for me while still having a foot in the door for any problems that occur while being overseas.
I've also thought of partnering with someone as a lender and using the money I have saved to partially be involved in the investment while being away and then starting my own personal portfolio when I am back - like you said, the real estate market will always be here waiting for me. - Keene, NH · Member since 2023 · 22 posts · 13 votes3yWhat would you suggest is the best way to get yourself involved in syndications with trustworthy investors that would want my business?
Quote from @Brock Mogensen:
You likely want to look into investing in syndications as an LP. Trying to buy and manage a portfolio from a different country is possible but going to be much more work and potential risk. If you have the cash to be able to invest $50K sums into syndication deals, it is a completely passive experience that will allow you to build a real estate portfolio with minimal time commitment.
Say a group of investors have been working together for years, what could I do with a limited amount of money, say $30k, to provide value to that group besides my money? - 3yIan IppolitoBusiness MemberInvestor · Tampa, FL · Member since 2015 · 1k+ posts · 1k+ votes
Quote from @Jeffrey Hunter:
I have come across amazing opportunities at a young age where it is likely that I could end up playing basketball professionally overseas for a few years! Of course, this is a huge decision for myself when it comes to where my future will go and how my investing journey will look. I do not currently own any properties yet. I plan on purchasing my first multi-family within the first year of graduating college. If my basketball journey ends up taking me overseas to play professionally, I question what my REI career would look like. How can I make it possible to buy property and have it managed properly while being on the complete opposite side of the world? Is it possible? Is it smart to invest in my property while not actually being able to have hands-on experience to learn about all the things that come along with being a landlord/property owner?
I own properties directly and also invest in real estate passively through syndication/crowdfunding. And I believe both have their strengths and weaknesses and a place in a diversified portfolio.
However, if I were overseas, I would never try to purchase and/or manage directly owned properties while overseas (and especially if I had never done it before). In my opinion, it's a business (like any other) and requires adequate in-person management and supervision by the owner to avoid getting surprised by numerous things that can cause losses. And even if you intend to hire others to do some or all...they aren't fully aligned with you and still require adequate supervision (which, in my opinion, can't be done overseas).
And the main advantage of investing passively is that the investment manager will be very involved and avoid all those potential traps. And once you're done picking them...you're done and can concentrate on your basketball career. You will have to pay management fee ( versus putting in sweat equity in getting this for free with the direct investment). But, presuming you pick well, the manager will have years more experience and expertise than you would ever be able to acquire.
Good luck.
The Real Estate Crowdfunding Review - Keene, NH · Member since 2023 · 22 posts · 13 votes3y
Quote from @Ian Ippolito:
Quote from @Jeffrey Hunter:
I have come across amazing opportunities at a young age where it is likely that I could end up playing basketball professionally overseas for a few years! Of course, this is a huge decision for myself when it comes to where my future will go and how my investing journey will look. I do not currently own any properties yet. I plan on purchasing my first multi-family within the first year of graduating college. If my basketball journey ends up taking me overseas to play professionally, I question what my REI career would look like. How can I make it possible to buy property and have it managed properly while being on the complete opposite side of the world? Is it possible? Is it smart to invest in my property while not actually being able to have hands-on experience to learn about all the things that come along with being a landlord/property owner?
I own properties directly and also invest in real estate passively through syndication/crowdfunding. And I believe both have their strengths and weaknesses and a place in a diversified portfolio.
However, if I were overseas, I would never try to purchase and/or manage directly owned properties while overseas (and especially if I had never done it before). In my opinion, it's a business (like any other) and requires adequate in-person management and supervision by the owner to avoid getting surprised by numerous things that can cause losses. And even if you intend to hire others to do some or all...they aren't fully aligned with you and still require adequate supervision (which, in my opinion, can't be done overseas).
And the main advantage of investing passively is that the investment manager will be very involved and avoid all those potential traps. And once you're done picking them...you're done and can concentrate on your basketball career. You will have to pay management fee ( versus putting in sweat equity in getting this for free with the direct investment). But, presuming you pick well, the manager will have years more experience and expertise than you would ever be able to acquire.
Good luck.Thank you! Would you say a lot less stress is involved when you are investing passively versus physically owning the property and managing it on your own? Especially if I happened to be overseas focusing on my career.
- 3yIan IppolitoBusiness MemberInvestor · Tampa, FL · Member since 2015 · 1k+ posts · 1k+ votes
Quote from @Jeffrey Hunter:
Quote from @Ian Ippolito:
Quote from @Jeffrey Hunter:
I have come across amazing opportunities at a young age where it is likely that I could end up playing basketball professionally overseas for a few years! Of course, this is a huge decision for myself when it comes to where my future will go and how my investing journey will look. I do not currently own any properties yet. I plan on purchasing my first multi-family within the first year of graduating college. If my basketball journey ends up taking me overseas to play professionally, I question what my REI career would look like. How can I make it possible to buy property and have it managed properly while being on the complete opposite side of the world? Is it possible? Is it smart to invest in my property while not actually being able to have hands-on experience to learn about all the things that come along with being a landlord/property owner?
I own properties directly and also invest in real estate passively through syndication/crowdfunding. And I believe both have their strengths and weaknesses and a place in a diversified portfolio.
However, if I were overseas, I would never try to purchase and/or manage directly owned properties while overseas (and especially if I had never done it before). In my opinion, it's a business (like any other) and requires adequate in-person management and supervision by the owner to avoid getting surprised by numerous things that can cause losses. And even if you intend to hire others to do some or all...they aren't fully aligned with you and still require adequate supervision (which, in my opinion, can't be done overseas).
And the main advantage of investing passively is that the investment manager will be very involved and avoid all those potential traps. And once you're done picking them...you're done and can concentrate on your basketball career. You will have to pay management fee ( versus putting in sweat equity in getting this for free with the direct investment). But, presuming you pick well, the manager will have years more experience and expertise than you would ever be able to acquire.
Good luck.Thank you! Would you say a lot less stress is involved when you are investing passively versus physically owning the property and managing it on your own? Especially if I happened to be overseas focusing on my career.
You're welcome. Yes, definitely. After you pick the manger/deal on a passive investment...there's no more work to do. You're basically paying someone else to make it their problem to handle.
The Real Estate Crowdfunding Review - Real Estate Agent · Member since 2022 · 61 posts · 31 votes3y
@Jeffrey Hunter This most certainly can be done. The important part here will be to find an investor focused agent first. Find an agent in the market you want to be in and make sure they specialize in investments. Once you find them, they should have contacts in the areas you are looking for. If they don't, they more than likely are not investor focused agents. Once you get a good agent, you will want to find a fantastic property manager. They will be worth their weight in gold. A good investor agent will have this already lined up.
I have a great questionnaire for interviewing agents that I can send you if you want to DM me our email I certainly can send it out.
- 3yDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
@Jeffrey Hunter you'll want to build your team of experts NOW before you go overseas.
Meet the face-to-face, find ones you can trust, but who also don't mind you requiring proof of everything they do for you.
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