PLANTATION, Fla., March 21, 2019 /PRNewswire/ — A group of notable Miami Dolphins NFL players recently took part in a real estate investment seminar, learning invaluable investment strategies and skills that will help them manage wealth and diversify their earnings. The one-day workshop, taught by Anish Dave and Ryan Kuhlman of the Broward Real Estate Investors Association (BREIA) and Ben Moss, luxury real estate specialist and director of East Coast sports & entertainment as well as being the division head of Compass, offered these 25 Miami Dolphins players key investment skills that will help them acquire, rehabilitate and “flip” houses.
Part of the first annual Dolphins Business Combine, an effort by the Miami Dolphins organization to educate and empower their players through financial awareness, it’s the brainchild of Khaleb Thornhill, a change agent who founded Athlete TransitionU to protect and enrich pro players.
“We are building better people that will ultimately make better players,” said Jason Taylor, former longtime Dolphins player and NFL Hall of Famer.
Some of the notable NFL players that attended the seminar include Cameron Wake, Kenny Stills, Cordrea Tanerksley, Travis Swanson, Minkah Fitzpatrick, T. J McDonald, Kenyan Drake, John Denny, AJ Derby, David Fales, Sam Young and more, ranging from rookies looking to learn about money management for the first time to seasoned veterans who understood the importance of diversifying and preserving their wealth through real estate investment.
While it may seem that NFL players are all multi-millionaires with no financial worries, the statistics paint a different picture. In fact, the average salary in the NFL is only $2.7 million (compared to $7.1 million for NBA basketball players, for instance), with non-guaranteed contracts and an average pro football career lasting only 3.3 years or so.
Furthermore, players – who often have significant earnings for the first time in their lives – face inconceivable financial pressures and requests from family, friends and inner circles.
“High-profile athletes are approached constantly with investment opportunities,” says Anish Dave, course instructor. “And the Fear of Missing Out and a lack of financial education causes many of them to make bad decisions. It’s no wonder why 78 percent of NFL players are forced to file bankruptcy or experience financial distress within two years of retiring from the sport.”
Among other skills, these NFL players were taught how to identify and carefully scrutinize a good deal, safely vet any opportunity, minimize risk and invest wisely in real estate, as well as the steps and time-lines of both buying and selling properties, how to estimate fix-up costs and coordinate labor and materials and using financing versus the power of leveraging cash.
The seminar stressed the importance of real estate investment in the greater context of their wealth management, taxation and financial planning.
“We also talk to the players about the importance of managing the risks, mistakes and pitfalls of flipping houses that they don’t always highlight on the reality shows,” says Ryan Kuhlman of BREA.
Anish Dave and Ryan Kuhlman, founders of the Broward Real Estate Investors Association, have worked with players and the NFL’s Business Combine previously in New York City, as well as teaching countless people from the general public how to change their lives and elevate their finances through real estate investing.