You are 22 years old with 250k. How would you invest it?

[Trevor Davis]

I have this question because I have played in the NFL for 6 years now, and I have had many of my teammates ask me how they should invest some of their money once they find out that own multiple properties. Many of these guys are coming straight out of college and have never had this kind of money before. The average NFL career is only 3 years so these guys know they won’t be making this kind of money forever, and many of them want to invest and get into real estate but never know where to start.

So I wanted to ask all of you, If you were 22 years old with all the knowledge you have now (assuming you already have a home of your own at this point as well) and had 250k in the bank that you are willing to invest, how would you invest it?

I know everyone has different niches. Some of you invest commercial properties and triple net leases, some multi family properties, and some SFRs.

So I would really like to see, what do you all think these young men should do with this money that they are making for only a short period of time, to create it into long term wealth in the future?

[Caroline Gerardo]

Dear Sir may I address you as My Son:

Many people who win the lottery lose it in three years. Investing is not easy, fun, or fast. Do not give your money to someone else.  Today residential is overpriced, emotional, and competitive. 

Buy for LOCATION. The best location, because that's one thing you cannot fix. 

What are your strengths and skills? Are you handy and can fix things? Are you good at checking the numbers and making sense of costs? What do you need to learn?

Your tenant is a vital part of your asset, think of them as holding your cash. 

Split the money into three bags. Two to invest in two properties, one to save long term. Make sure your credit is good, or get help fixing it before you start it's a part of the costs. 

Ask for help, people want to be good.