Why New Black Athletes Should Consider Commercial Real Estate Investment
Black athletes breaking new ground in their professional sports careers are not only making headlines on the field, but they are also making strategic moves off the field to secure their financial futures. One avenue that is gaining popularity among these athletes is investing in commercial real estate (CRE).
According to experts, investing in commercial real estate offers a stable, passive income stream that can extend well beyond an athlete’s playing years. Commercial properties such as office buildings, retail spaces, and industrial complexes generate consistent rental income, providing a reliable source of revenue regardless of the athlete’s active status.
Ed Ryland, CEO of ARVO Small Business, emphasized the importance of Black athletes learning how to secure their financial future early on, especially with the introduction of NIL agreements for college athletes. He highlighted that investing in commercial real estate is a great way for athletes to build long-term wealth and financial security.
The appreciation of property values over time is another key benefit of investing in commercial real estate. By leveraging their current earnings to secure properties that will grow in value, new Black athletes can ensure financial prosperity in the long run.
Furthermore, investing in commercial real estate can also serve as a powerful tool for community empowerment. Some Black athletes have been known to invest in their old neighborhoods, revitalizing communities, creating job opportunities, supporting small businesses, and making a positive impact beyond individual financial gain.
Tax benefits are another attractive reason for athletes to consider investing in commercial real estate. Depreciation, mortgage interest deductions, and various other write-offs can reduce taxable income, allowing investors to keep more of their earnings, especially beneficial for athletes in higher tax brackets.
For those interested in commercial real estate investing, Ryland advised seeking professional guidance to navigate the complexities of property investment effectively. Partnering with experts can help athletes make informed decisions, maximize their investment potential, and manage their portfolios efficiently.
In conclusion, investing in commercial real estate presents new Black athletes with an opportunity to build long-term wealth, secure their financial futures, empower their communities, and take advantage of tax benefits. By making smart financial choices today, these athletes can create a legacy of wealth that will benefit them and their families for generations to come.