When is the last time you moved? Not in the sense of physical activity, but actually packed up all your belongings , put them in a U-Haul and settled into a new home.
Anyone who has -ver been through this process before can attest to the fact that moving can be a stressful endeavor. Not only do you need to find someone to buy your current residence, or assume those rental payments on your behalf, but you also need to find a new place that comfortably accommodates the needs of you and your family. For athletes, this process can be even more daunting considering the regularity with which their family may be forced to move.
Let’s consider the following fact pattern:
The 2015 NFL Draft has just concluded and you were drafted by the St. Louis Rams. You find a place to rent in St. Louis while you are preparing for your first NFL training camp. Training camp ends and you made the 53 man roster. You decide it’s time to buy a home in St. Louis so that your wife and kids can come join you in a more permanent setting (afterall you’re going to take the League by storm and be a Ram for life). At the conclusion of the 2015 NFL season, it’s official, the Rams are moving to Los Angeles. You now scramble to find a buyer for your home in St. Louis and look for a place where your family can live in Los Angeles before the start of OTAs and training camp. But, this year things don’t go your way. Your name doesn’t make the list and you’re a part of the last round of cuts before the season starts. But, good news! The Buffalo Bills have picked you up off waivers and you’re now on their practice squad. Time to get yourself together and move to a city which you have never even visited before. You’ve only been in the NFL for a total of eighteen months and have already moved to three different cities. Welcome to the NFL, kid.
Mr. Argueta is a real estate agent based out of California who was recently rated by Trulia as being in the top 1% of real estate agents in the nation. An innovator in his field, Argueta saw a need in his industry for relocation specialists that could effectively assist athletes and their families as they move from city to city and state to state over the course of their careers. Argueta’s company, Pro Athlete Relocation, is a branch of his real estate group, Lowell and Vanderbuilt. PAR’s goal is “to work collectively with the [athlete’s] existing team of advisors, ensuring a seamless transaction and [relocation] process for the Professional Athlete.” PAR is not an entity set up to compete with full-service athletic representation agencies, but rather, it should be viewed as a non-threatening member of that team of representatives. Instead of competing against the athlete’s agent and advisors for services, Argueta is able to provide expert advice in his niche area to all members of the athlete’s personal team.
The process for Argueta is simple. He begins his services by asking the athlete a number of questions and then he customizes a plan that will allow for the athlete and its family to effortlessly transition into a new home. First, Argueta determines whether the athlete needs to sell his/her current property. If so, he connects with his vast network of real estate agents in the athlete’s current city to quickly find a buyer in that market. Then, he asks the athlete whether or not they prefer to rent or buy in their new city. If the duration of the stay is unknown, Argueta recommends engaging a short-term lease agreement with either a high-end condominium association or single family dwelling. Once, Argueta understands the needs of his new athlete client, he then begins to search for properties that are centrally located to what he calls the “the big three”: (1) the team’s stadium, (2) the team’s practice facility, and (3) the airport. Argueta’s goal for each client is to find living space that is convenient for the athlete’s day-to-day life without compromising the aesthetic appeal and lifestyle the athlete wants and needs.
PAR has worked with athletes in each of the four primary professional sports leagues (NFL, NBA, MLB, and NHL), but he has also provided services to both action and eSport athletes who need help obtaining short and long term residences in cities across the country.
HOW TO CONNECT?
Paul will be at the Annual Conference for Sports Financial Advisors Association taking place this November 9th-11th in Scottsdale, Arizona.
*Info about the author: Steven Swick is an Ohio real estate attorney and licensed title insurance agent based out of Troy, Ohio.