Investment and business advice from Alex Rodriguez

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Alex Rodriguez’s first investment was the purchase of a single duplex in Miami in 2003. The former Texas Rangers and New York Yankees slugger needed about $ 48,000 as a down payment; mere pocket change for a player who would sign the biggest free agent contract in Major League Baseball history when he signed a 10-year, $ 275 million contract with the Yankees of New York four years later.

From there, Rodriguez built a real estate and development company while managing his 22-year baseball career that featured 696 home runs, 3,115 hits, three MVPs, 14 All-Star nods and a league title. 2009 World Series with the Yankees. He retired after the 2017 season with an MLB record $ 480 million in career earnings.

Today, A-Rod Corp employs over 500 people and manages internal and external capital while investing in a diverse portfolio comprising real estate, sports and wellness, media and entertainment.

“Before you invest, you should take a time out and do a few things,” Rodriguez said after taking part in Dick’s Sporting Goods very first fashion show in New York City. “No. 1: Knowledge is power, so obviously learn the game and try to surround yourself with the best team you can find. The greatest resource we all have is human capital. Athletes usually have access to it. to the gift and curse of great people and less great people, so making these decisions early is very important.

“So I would say you start small, but you can’t practice if you don’t play. Basically putting it on a team and not getting involved for me isn’t the ideal way. There is a process, but getting involved is really important.

Rodriguez, who is also a baseball analyst for FOX Sports and special advisor to the Yankees, has been looking after his business and investments since purchasing that first duplex. He and business partners founded Newport Property Construction, which has managed the renovation and development of over $ 1.5 billion in residential, commercial and mixed-use assets since 2008. Monument Capital Management, founded by Rodriguez and Ramon Corona in 2012, acquired more than $ 700 million of real estate assets in 13 states through opportunity funds and strategic joint ventures.

While he cut his teeth in real estate, Rodriguez sees the value of a diverse portfolio, spanning sports and wellness.

A-Rod Corp purchased the rights to develop UFC-branded fitness facilities throughout Miami-Dade County in March 2017, invested in group fitness and yoga company TruFusion in July 2017, and acquired the rights franchise development for 20 locations across Florida. Rodriguez invested in IceShaker, a lifestyle brand specializing in water bottles and shakers, through Shark aquarium, where A-Rod served as the guest shark.

He and fellow Shark and real estate mogul Barbara Corcoran have teamed up to form a joint venture to acquire off-market rental properties in New York’s hottest neighborhoods in June 2019.

Being a professional athlete and celebrity can have its pros and cons for business and investing, Rodriguez said.

“That’s what you do with it,” he said. “If you learn the rules of engagement and understand that you need a great team, you need a great lawyer, a great business partner, then you’re hiring people smarter than you who will always complement you. your superpowers. So being an athlete and having access to that kind of capital works in your favor.

While Rodriguez kept his cards close to his chest in terms of future investment opportunities, he stressed the importance of strengthening his team and making “our bench stronger and deeper”.

“We’re still looking at what we think the world will be like 10 years from now and how do we reverse engineer it? ” he said. “It’s funny, people always watch the story and then try to apply their strategy to move forward. To me that doesn’t make a whole lot of sense, really.

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