Thread by @_willcompton, Looking in back in an old journal from 2017. Had an entry [...]

Will Compton

_willcompton

Looking in back in an old journal from 2017. Had an entry about buying my first house with the thought of owning an asset vs renting.

Today I just sold that house

Thread on players owning real estate

I factored up that I had spent $90-$120k in renting over my first 4 years in Washington. Throwing another $30k-$40k at something I didn’t own wouldn’t be the right move. Instead I came out of pocket for $116k on a new house that I would own myself. The thought would be..

When I hit free agency and move on, I could have it managed and keep it furnished for a someone, or a player that wanted to rent. At the time I was extremely nervous putting $116k into anything because that was a big % of my money.

I also knew I would probably be on a new team once I hit free agency after my last year with Washington.

My thought - even though I would only be in this house for one season it still made more sense than renting for an entire year. I could buy now, rent after.

That worked out because I was able to rent to a player for the next 3 years until now.

I was able to keep my mortgage, taxes, and insurance covered while still owning the asset as it appreciated over the years.

Today I closed and sold that house for $720k...

I bought the house for $580k.

Outside of a subtle flex I’m writing this for any young athlete or person in the game of investing. Or anyone looking for an example of a beginner that wasn’t fully sure before taking the leap.

All to say..

Ask questions, seek advice from mentors, educate yourself in the space (mine was pods, mentors, & the book ABCs of Real Estate Investing), & make moves for your future.

“If you don’t control your future somebody else will”

Invest in real estate

You can follow @_willcompton.

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