8/28/2023 0 Comments Reebok andy roddick“It was a pay to show up situation, it wasn’t long term. “When I retired, it was interesting,” he says. Moving out of tennis proved to be a powerful choice for Roddick. “Real estate has provided that we can be patient,” he says. That said, the real estate foundation allows him to remain choosy. Of course, his competitive side kicks in and sometimes takes on a deal they don’t want in on, always hoping to show them he was right in the end. It is small enough you are one phone call away from getting an answer or talking directly with someone versus just scheduling a meeting.”Īs Roddick vets new ideas, he leans heavily on Decker and Myers, with 80 percent of his deals including all three of them. “Austin is small enough you normally hear about things in your business network and get a look. “It certainly has been a beneficial place to have lived over the last 15 years with capital,” he says. Sometimes Roddick hears about a new deal through his personal network and other times it comes from living in Austin for the past 15 years. Investing in companies, I want to sit down in the room and completely believe in the person I am hearing a pitch from.” It is a little bit of the opposite of real estate, which is extremely disciplined with a formula we stick to and everything understandable on a piece of paper. “You have to invest in what is going on, retail to infrastructure. “If it was investing in just one of these companies, it would be extremely risky,” he says. Roddick has built his portfolio to 17 current companies he’s invested in - others have been acquired since his initial investments - but isn’t worried about hitting a certain number. “Investing in companies is more exciting day to day.” “The fun part for me is looking at the deals and new companies,” he says. With the real estate side of the business so formulaic and Roddick retiring from the game in 2012, he continued to leverage his business learning into new deals, startup spaces, series Cs and more. Roger Federer and Andy Roddick together in Austin, Texas. “Andy knew that he would rather have the $3 million available to give to his family, community and charities.” “I know that Andy recognized that the $300,000 that he could have spent on a new Ferrari would lessen his net worth by over $1.4 million when he reached 55 and $3 million by 65,” Myers says. Starting in real estate helped keep Roddick grounded early and not divert money to subsidize personal spending. Then 10 years later properties have obtained value on their own and contracts create a head of steam.” The philosophy, so vastly different than the hope of investing in a company that gets acquired within three years, was key for the young player. When you make a hard push at age 23 or 24, it is slow at first. “We have acquired a sizable number of assets and have predicable cash flow, what we live off. “It is not a business that is going to go 10x in one year,” Roddick says about the real estate. “The athlete that reacts to this early earning cycle needs to have a long-term view on business investment if he or she wants tomorrow to be better than today.” Myers says Andy recognized early in his career the principles of diversification, compound earning and not living extravagantly, leading to Roddick mixing his assets into 40 percent triple-net long-term leased commercial real estate, 25 percent listed equities, 15 percent in venture efforts, 10 percent professionally managed hedge funds and 10 percent in guaranteed tax-deferred investments. “Most professional athletes are expected to reap their paydays during their playing years,” Myers says. They were at the right place in the right time, taking advantage of the 2008 recession to “press forward and acquire our first bunch of buildings.” With such a rigid, long-term view, Roddick was able to stay disciplined and turn investing into numbers on a sheet. The duo created a triple-net lease real estate business, based on strict formulas and numbers. It was then that Roddick and business partner Phil Myers created the foundation for Roddick’s post-athletics stronghold: real estate. When I retired the income from playing was replaced by whatever I was doing afterwards.”Ī few behind the scenes shots from our shoot with and Such an incredible team! We can't wait to show you the finished product. “I became obsessed with the idea of working while I was playing to replace my (tennis) income. “It is, ‘what’s next, how do we make money work for me?’” he says about his thinking at the time. The big-serving star had his big shoe and clothing deal locked in and with his early success, endorsement deals were three, four and five years in length. For Roddick, his entry into business outside tennis started when he was around 21, already near the top of his sport.
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