Kyle Van Noy may be best known for mowing down running backs on the gridiron, but the two-time Super Bowl champ has also launched a lucrative side-hustle in real estate.
The veteran NFL linebacker and his wife, Marissa, have made almost $2 million buying, renovating and selling homes since 2015, the Wall Street Journal reported. More profits could be coming, as the home-flipping couple has two additional renovation projects underway.
Professional athletes’ lives are often nomadic, with trades and contract signings forcing them to move on a near-annual basis. Marissa has used the opportunity to launch a career, forming the Three Golden Cranes design firm with her mother and sister.
The couple began flipping homes in 2015, feeling jaded after the value of a property they were renting kept rising during Van Noy’s tenure with the Detroit Lions. They seized the opportunity to buy a townhouse in Utah, where they went to college, for $300,000. According to the Journal, they spent $50,000 on renovations before selling it two years later for $450,000.
In 2017, after Van Noy was traded to the New England Patriots, the family bought a 2,600-square-foot home in Canton, Massachusetts, for $600,000. After another $50,000 in renovations, it sold last year for $800,000.
Van Noy then signed a four-year, $51 million contract with the Miami Dolphins and bought a home in the Southwest Ranches neighborhood for $2.58 million, according to the Journal. After spending $250,000 on renovations, the couple suddenly found themselves in a position where they needed to sell after Van Noy was released by the Dolphins and returned to the Patriots on a new, two-year contract.
According to the Journal, they sold it this past June to a player for the NBA’s Philadelphia 76ers for $3.5 million.
Professional athletes are often pushed towards renting, rather than buying, due to the uncertain trajectories of their careers. By living in the houses they’re flipping and successfully turning a profit, the Van Noys are finding a way to turn the circumstances in their favor.
“It works for someone who has to pick up and go all the time,” Van Noy told the Journal.
[WSJ] — Holden Walter-Warner
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