Former Baseball Star Alex Rodriguez’ Successful Real Estate Ventures Will Leave You Impressed
Alex Rodriguez is best known for his stint as a professional baseball player with teams like the New York Yankees, the Texas Rangers and the Seattle Mariners. But since his retirement from the sport in 2016, the 43-year-old has busied himself with a variety of ventures.
There’s his gig appearing as a guest on the hit ABC reality show ‘Shark Tank‘ and his time as a broadcaster for Fox Sports 1 and ESPN. It’s behind the scenes though where he continues to build his fortune with various real estate ventures.
After working with real estate power player and ‘Shark’ investor Barbara Corcoran on an East Village rental building, the former athlete is partnering with investors to focus on bulk buying real estate properties throughout the Big Apple. He teams up with Stonehenge NYC and Adam Modlin, a brokerage expert for the venture through his very own A-Rod Corp. Rodriguez is reportedly still working with Corcoran though despite his new partnership.
According to one of his partners, the venture will see them looking through the New York City boroughs for properties ranging from $5 up to $400 million. After focussing on certain areas, they will then begin leasing out luxury apartments.
The ex-baseball player is certainly not new in the real estate scene. According to Celebrity Net Worth, he already owns around 15,000 apartments spread throughout 13 states through Monument Capital Management, a company under A-Rod Corp. Taking all his assets into consideration, Rodriguez’ current net worth currently stands at an impressive $300 million.
A bulk of his starting wealth was built upon the lucrative deals he scored as a baseball player. A good example is his $275 million over 10 years contract with the New York Yankees. There’s also his deal with Kansas City Royals which brought him a whopping $25 million a year from 2004 to 2007.
His wealth is only about to grow though especially when he combines his fortune with fiance Jennifer Lopez, who has a net worth of $400 million.
Roots of the Interest
But what’s even more interesting than his current success in real estate is the story behind it. Although born in New York, Rodriguez grew up in Miami, Florida. In an interview with CNBC, he recalled his childhood and growing up poor. He and his two siblings were raised by a single mother, who he says had to work late nights at a chicken restaurant to provide for them.
What more, he remembers their plight of having to move places every 18 months because their landlords would raise their rent prices. The experience definitely left a mark on the young Rodriguez who thought about what it would be like to trade places with the landlord. Looking at his achievements now, he’s definitely come a long way since that defining experience.
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