Kansas City Chiefs quarterback Patrick Mahomes is widely regarded as one of the best players in the NFL today.
He’s led the team to the Super Bowl in three of the last four years and has secured numerous accolades for his on-field performance, most recently the MVP of Super Bowl LVII.
But while Mahomes is undoubtedly an exceptional athlete, his skills in real estate investing are also making headlines.
A recent story from the NY Post revealed that Mahomes has already acquired a real estate portfolio that includes several properties in Missouri and Texas, just one home shy (and a lot less land, albeit) than Microsoft founder Bill Gates.
With a combined value of around $8 million, the 27-year-old superstar is off to an impressive start in the world of real estate investing.
Mahomes’ first foray into property investment was in 2017 when he purchased a two-bedroom, three-bathroom condo in Kansas City. The 1,800-square-foot pad was originally listed for $475,000, but Mahomes managed to snag it for $350,000. The condo is estimated to be worth around $500,000 today and is the only unit in the building with a top roof deck and a two-car garage.
He’s up roughly $150,000 on that investment — and you can be earning passive income in the housing market too. New companies have innovated ways for the individual investor to get involved with real estate for as little as $100 (or more, depending on your appetite.) Here’s how to pick up individual shares of rental properties to build long-term wealth.
Later in 2019, Mahomes bought his first mansion in Kansas City for $1.8 million. The three-bedroom, four-bathroom property is situated on 1.4 acres of land and boasts a contemporary ranch design.
In 2020, Mahomes added to his portfolio with the purchase of an eight-acre plot in Belton, Missouri, for an estimated $400,000. A year later, he built a new home on the land and added a pool, bringing the estate’s value to over $1 million.
Mahomes’ most valuable property is his Westlake, Texas, mansion which he purchased for $3.37 million in 2019.
The four-bedroom, seven-bathroom home was built in 2014 and is worth around $5.5 million today.
Mahomes’ impressive real estate portfolio is just the start of what’s to come. He signed a 10-year, $503 million contract with the Kansas City Chiefs in 2020, giving him ample funds to continue investing in properties that catch his eye.
With his real estate investments already making headlines, Mahomes is proving that he’s not just a winner on the football field but also in the world of real estate investing.