Alvin Scioneaux, Jr. Jorney to Financial Success - From NFL Athlete to Engineer to Real Estate Investor
Introduction
In this episode of Cash Flow Happy Hour, we had the pleasure of interviewing Alvin Scioneaux, Jr., a former NFL athlete who has transitioned into a successful career as an engineer and real estate investor. Alvin shares his experiences as a professional athlete, his thoughts on personal finances, and his current ventures in the world of real estate.
Alvin discusses the importance of making the most of every opportunity, whether it's in football, engineering, or real estate. He emphasizes the need to focus on the current opportunity and maximize its potential. Alvin believes that success comes from learning from mentors and being comfortable in your own skin. By putting your best foot forward, you can maximize opportunities for yourself and the team as a whole.
Key Takeaways:
Alvin Scioneaux, Jr. went from being an NFL athlete to an engineer to a real estate investor. Alvin started his own private equity firm called Financial Athlete Capital and is involved in commercial real estate deals.
Alvin highlights the difference in salaries between NFL players and the importance of maximizing opportunities. He shares his experience of being starstruck and torn ACL during his time in the NFL.
Alvin worked as an aerospace engineer while playing in the NFL, showcasing his ability to seize opportunities.
Financial literacy in professional sports: Financial literacy is becoming more prevalent among athletes, but it was not as common in the past. Alvin emphasizes the importance of diversifying income sources, such as through real estate investing, to achieve financial success.
Avoiding unnecessary expenses: Alvin advises against spending money on extravagant items like bottle service and instead suggests investing in assets like rental properties. Alvin looks for opportunities in both high appreciation and high cash flow markets to optimize his real estate investments.
Alvin's Time in the NFL
Alvin reflects on his time in the NFL, where he had the opportunity to play alongside Hall of Fame players such as Philip Rivers and Antonio Gates. He emphasizes the importance of professionalism both on and off the field and how he learned valuable lessons about being a business-minded athlete. Alvin also discusses the stark contrast between his rookie year, driving a modest car, and seeing his teammates with luxury vehicles in the parking lot.
Alvin's Current Ventures
Today, Alvin has started his own private equity firm called Financial Athlete Capital and is heavily involved in commercial real estate. He shares that his firm is currently working on a 216-unit property in Texas and exploring other deals in California. Alvin's focus is on maximizing opportunities and forming strategic partnerships to expand his real estate portfolio. He also mentions his involvement in various nonprofit organizations, highlighting his commitment to giving back to the community.
Alvin's Diverse Background
Alvin's background is diverse, with experiences in football, engineering, and real estate. He explains how he transitioned from being an NFL player to pursuing a career in aerospace engineering. During his time as an NFL athlete, Alvin also worked as an engineer, showcasing his ability to excel in multiple fields simultaneously. He emphasizes the importance of maximizing opportunities and constantly striving to be the best version of oneself.
Alvin's Mindset as an NFL Player
Alvin shares his mindset as an NFL player, highlighting the significant difference in salaries within the league. While he acknowledges that even the rookie minimum is a substantial amount of money, he also recognizes the vast earnings of some of his teammates. Alvin emphasizes the importance of perspective and striving to be among the top performers in any industry.
Alvin's Journey to the NFL
Alvin attended Wofford College, a small D1 double-A school, where he excelled both academically and athletically. He was a standout football player and caught the attention of NFL scouts during his senior year. Alvin's hard work and dedication paid off when he received an invitation to the NFL Combine, where he showcased his skills and impressed the scouts. Despite facing setbacks, such as an ACL tear during his pro day and not being drafted, Alvin's determination and resilience led him to sign with the San Diego Chargers as an undrafted free agent.
Transitioning to a Career in Engineering
While pursuing his NFL dreams, Alvin also had a passion for engineering. He majored in aerospace engineering in college and always had a fascination with rockets and space exploration. During his time as an NFL player, Alvin worked as an engineer, balancing his football career with his studies. He credits his ability to excel in both fields to his strong work ethic and time management skills. After retiring from the NFL, Alvin decided to pursue a full-time career in engineering, working for a prominent aerospace company.
Discovering the World of Real Estate
Although Alvin found success in engineering, he felt a desire to explore other avenues for wealth creation. He began educating himself about personal finances and investing, and that's when he stumbled upon the world of real estate. Alvin saw the potential for financial freedom and long-term wealth in real estate investing, and he knew he had to get involved. He started by purchasing his first rental property, and from there, his passion for real estate grew.
Becoming a Real Estate Investor
Alvin's journey as a real estate investor started with a single rental property, but he quickly realized the power of leveraging and scaling his investments. He formed strategic partnerships and expanded his portfolio to include commercial properties and land development projects. Alvin's private equity firm, Financial Athlete Capital, focuses on acquiring and managing income-producing properties, with a goal of creating long-term wealth for its investors.
Giving Back to the Community
Throughout his career, Alvin has always believed in the importance of giving back to the community. He is actively involved in various nonprofit organizations, using his platform and resources to make a positive impact. Alvin understands the value of community and believes it is important to support them.
Starstruck Moments in the Locker Room
Alvin shares his starstruck moments in the locker room, where he had the opportunity to meet and play alongside Hall of Fame players such as Philip Rivers and Antonio Gates. He recalls the excitement of being in the presence of these great athletes and the valuable lessons he learned from them. Alvin emphasizes the importance of learning from experienced players and how it can contribute to personal and professional growth.
The Impact of Contracts on Players
Alvin discusses the impact of contracts on professional athletes. He acknowledges that players are aware of each other's salaries and use them as a measuring stick for their own expectations. Alvin explains that players look at contracts as a negotiation component and strive to earn a similar amount based on their performance and output. He emphasizes that it's not about counting someone else's pockets but rather using contracts as a benchmark for personal growth and success.
Rookie Dinner Traditions
Alvin talks about the tradition of rookie dinners in professional sports. He explains that rookies are expected to take their teammates out for dinner, and the bill is usually split based on the players' salaries. Alvin shares that higher draft picks, who receive larger signing bonuses, often contribute more to the bill compared to undrafted free agents. He highlights the camaraderie and bonding that occurs during these dinners and the importance of rookies embracing this tradition.
Making the Most of Every Opportunity
Alvin believes in making the most of every opportunity, regardless of the field. Whether it's football, engineering, or real estate, he emphasizes the need to focus on the current opportunity and give it your all. By learning from mentors and being comfortable in your own skin, you can maximize your potential and contribute to the success of the team.
Early Injury and Road to Recovery
Alvin, a former football player, shares his experience of getting injured early in the season. Unfortunately, during the first game against the Cowboys, he tore his ACL and meniscus. Despite the setback, Alvin remained focused and underwent surgery and rehabilitation to get back to full health. He emphasizes the importance of making the most of opportunities and shares his success in aerospace engineering, real estate, and investing, totaling over a million dollars in earnings.
Financial Literacy in the NFL
Alvin discusses the evolution of financial literacy in the NFL. He mentions that during his time in the league, financial literacy was not as prevalent as it is now. Many players would indulge in extravagant purchases, such as gold Bentleys and red Ferraris. However, with the rise of the internet and NIL (Name, Image, and Likeness) deals, financial literacy has become more important for players. Alvin highlights the need for players to prioritize financial education and make informed decisions about their money.
Alvin's Introduction to Investing and Financial Literacy
Alvin's interest in investing and financial literacy began at an early age. Growing up, he witnessed his parents' journey from owning zero houses to having a half-million-dollar house and multiple rental properties. This exposure to real estate investments sparked his curiosity and desire to pursue it himself. Although he initially had a teenage mindset and was not fully committed to investing, his perspective changed during his rookie year in the NFL. Seeing his teammates with luxurious cars while he drove a modest Nissan Altima motivated him to focus on investing his money wisely.
Staying Disciplined and Avoiding Shiny Object Syndrome
Despite the temptation to splurge on extravagant purchases, Alvin remained disciplined and focused on his financial goals. He resisted the urge to buy a new car during his first year in the NFL and considered living in San Diego as his splurge. Alvin acknowledges that he may have made some unnecessary expenses in the past, but he has since adopted a more mature and educated mindset. He now teaches financial literacy to other players and emphasizes the importance of making wise financial decisions.
The Power of Real Estate Investing
Alvin's first solo investment in real estate occurred after completing his master's degree and starting his career as an aerospace engineer. He purchased a duplex in a growing neighborhood, focusing on cash flow and long-term appreciation. Through careful research and analysis, Alvin was able to find a property with great potential for rental income. He renovated the units, attracting high-quality tenants and maximizing his cash flow. This initial success fueled Alvin's passion for real estate investing and motivated him to continue growing his portfolio.
Diversifying Investments and Building Wealth
As Alvin's real estate investments flourished, he recognized the importance of diversifying his portfolio. He began exploring other investment opportunities, such as stocks, bonds, and mutual funds. Alvin understood the value of spreading his risk across different asset classes and industries. By diversifying, he was able to mitigate potential losses and increase his chances of long-term financial success. Alvin also emphasizes the importance of continuously educating oneself about different investment strategies and staying updated on market trends.
The Role of Financial Literacy in Alvin's Success
Alvin attributes a significant portion of his success to his commitment to financial literacy. He believes that understanding the fundamentals of personal finance and investing is crucial for anyone looking to build wealth. Alvin took the initiative to educate himself through books, online courses, and mentorship programs. He also attended financial literacy workshops and seminars to gain insights from experts in the field. Alvin's dedication to learning and improving his financial knowledge has been instrumental in his ability to make informed decisions and achieve his financial goals.
Overcoming Challenges and Staying Motivated
Throughout his journey, Alvin faced numerous challenges and setbacks. From his ACL tear to navigating the complexities of the real estate market, he encountered obstacles that tested his resilience. However, Alvin's determination and positive mindset allowed him to overcome these challenges and stay motivated. He surrounded himself with a supportive network of friends, family, and mentors who encouraged him to keep pushing forward. Alvin also developed a routine that included daily affirmations, goal setting, and visualization exercises to maintain focus and drive.
Paying It Forward and Inspiring Others
As Alvin achieved financial success and gained valuable knowledge and experience, he felt a strong desire to give back and inspire others. He started mentoring young athletes and teaching financial literacy workshops to NFL rookies.
The Power of Discipline and Delayed Gratification
Alvin believes that discipline and delayed gratification are crucial for success in life. He emphasizes the need to think about how our actions today can better our future selves and lifestyles. While many people live for the weekend, Alvin encourages focusing on activities that will make Monday a better day, rather than wasting time on things that don't contribute to long-term growth.
Transitioning to Commercial Properties
After achieving financial freedom through house hacking and single-family homes, Alvin decided to venture into commercial properties. He invested in his education and network by joining masterminds, meetups, and groups, spending $50,000 on his personal development. This investment paid off as he met partners in the syndication space and had the opportunity to collaborate on different deals. Alvin highlights the importance of teamwork and collaboration, citing examples from sports where teams with fewer superstar players often outperform those with more.
The Catalyst for Growth
Alvin shares that the catalyst for his transition from residential to commercial deals was investing in education and networking. By expanding his knowledge and network, he discovered new opportunities and gained valuable insights. Alvin believes that investing in these two areas is essential for success. However, he emphasizes that taking massive action is the final and most crucial step. Alvin sets daily tasks and goals to ensure he stays on track and accomplishes his long-term objectives.
An Inside Look at a 42-Unit Deal
Alvin provides details about one of his deals, a 42-unit property in Nebraska. He acquired the property for $3 million through broker relations and networking. The deal was financed through syndication, with $1.1 million raised as owner's equity and the rest covered by a fixed-term loan. Alvin's ability to leverage his network and secure financing allowed him to expand his real estate portfolio and continue his journey towards financial freedom
Investment Strategy and Partnerships
Alvin and his team have already exceeded their rent projections within just seven months of implementing their value-add strategy. This success means that they may be able to return their investors' capital within one or two years instead of the expected four or five years. The plan is to three times the investors' money on this project. Alvin also discusses his new private equity firm, Financial Athlete Capital, which focuses on partnering with athletes and educating them about investment strategies beyond the stock market.
Investing in Controllable Assets
Alvin emphasizes the importance of investing in assets that can be controlled and offer a guaranteed return. He believes that investing in the stock market is risky and unpredictable, whereas investing in real estate and other controllable assets provides more stability and growth. Alvin aims to teach athletes about different investment strategies, such as syndications, life insurance components, and joint ventures, to help them secure their principles and achieve expected returns.
Current Projects and Opportunities
Alvin shares that his team is currently working on a 216-unit property in Texas and exploring other deals in California. They are also considering a land development project, although the details are yet to be determined. Alvin believes that opportunities are abundant every day, but it requires knowledge and a strong network to identify and seize them. He emphasizes the importance of having both the resources and the connections to make investment opportunities a reality.
Potential Partnership with Joshua's Group
Joshua offers his partnership group's services to Alvin, mentioning their previous success with a 111-unit property in Dallas. They are actively looking for their next deal, preferably in Texas or the Midwest. Alvin expresses interest in partnering with Joshua's group, as they are also focused on the Midwest and Texas markets. They plan to have a follow-up call to discuss potential opportunities.
Work Ethic and Athlete Mentality
As I continue to navigate the world of real estate investing, I am constantly reminded of the importance of a strong work ethic and an athlete mentality. Just like in sports, success in investing requires dedication, discipline, and a relentless drive to achieve your goals. I've always been drawn to the competitive nature of sports, and I believe that same competitive spirit translates well into the world of investing.
Building a Strong Network
One of the key lessons I've learned throughout my journey is the importance of building a strong network. In the NFL, you rely on your teammates to achieve success on the field. Similarly, in the world of investing, having a network of like-minded individuals who share your goals and values can make all the difference. By surrounding yourself with knowledgeable and experienced individuals, you gain access to valuable insights, opportunities, and support.
Identifying Opportunities
Just like in football, where you have to constantly analyze the field and make split-second decisions, investing requires the ability to identify opportunities and act on them quickly. In my experience, opportunities are abundant, but it takes knowledge and a keen eye to recognize them. By staying informed about market trends, staying connected with industry professionals, and constantly educating myself, I am able to spot potential investment opportunities and take advantage of them.
Staying Disciplined
Discipline is a crucial aspect of both sports and investing. In football, you have to stick to your game plan, execute your plays, and stay focused on the end goal. Similarly, in investing, it's important to have a clear strategy, stick to your investment thesis, and not get swayed by short-term market fluctuations. By staying disciplined and focused on my long-term goals, I am able to make sound investment decisions and weather any challenges that come my way.
Celebrating Accomplishments and Memorable Drinks
When asked about the most memorable drink he's ever had, Alvin reflects on his celebratory moments. He admits that he's not much of a celebrator, but he does enjoy celebrating significant achievements. Making it to the NFL and closing his first property in LA were both moments worth celebrating. Alvin fondly remembers hosting a housewarming and birthday party, where friends from different industries and walks of life came together to enjoy Louisiana Creole and Cajun cuisines. For Alvin, every celebration with the people in his life has been a great experience.
Living in the Moment
Alvin shares his philosophy of making the most of every day and always striving for the next best move. He believes in enjoying the present and not dwelling too much on past accomplishments. Alvin's positive outlook on life encourages him to embrace each moment and look forward to what the future holds. He emphasizes the importance of enjoying the now and being open to new opportunities.
Connecting with Alvin and Financial Athlete Capital
If you're interested in connecting with Alvin or learning more about his private equity firm, Financial Athlete Capital, he can be found on all social media platforms under the handle @a1scioneaux. Additionally, you can visit the Financial Athlete Capital website for more information. Alvin is open to collaborations and is currently working on partnership programs focused on education and strategy implementation. He encourages anyone interested to reach out to him via social media or direct message.
Today, Alvin runs his own private equity firm and is involved in commercial real estate and land development, embodying his philosophy of being smarter, stronger, wealthier, healthier, and happier. Through his story, we learn the significance of seizing opportunities and continuously striving to be the best version of ourselves.
Alvin highlights the importance of seizing opportunities and learning from mentors in various fields, whether it be football, engineering, or real estate. Alvin's experience in the locker room with Hall of Fame players taught him the value of being yourself and putting your best foot forward. Despite the temptations of a lavish lifestyle, he chose to invest his money wisely and prioritize long-term wealth creation. By house hacking and implementing creative strategies, he was able to double his income and cash flow $1,000 a month on my first investment property in California. He now advocates for financial literacy among athletes and encourage them to make smart investment choices rather than indulging in short-term pleasures like splurging.
From professional athlete to successful real estate investor is a testament to the power of discipline and delayed gratification. By focusing on activities that contribute to long-term growth and investing in his education and network, Alvin was able to transition from residential to commercial properties. Through syndication and strategic financing, he was able to acquire a 42-unit property in Nebraska and continue his path towards financial freedom.
The success of a real estate investment strategy focused on cash flow and value-add opportunities. in which Alvin shares their experience with a five-year interest-only fixed loan, implementing a value-add strategy, and the potential for early capital return. Lessons learned include the importance of partnerships, knowledge, and network in identifying and seizing investment opportunities. With a focus on athletes, the Alvin’s private equity firm, Financial Athlete Capital, aims to educate and empower investors to make informed investment decisions beyond the stock market. As for the Super Bowl prediction, the author mentions the Eagles, Chiefs, and Niners as potential contenders, emphasizing the significance of a strong defense and a talented quarterback in playoff success.
Alvin's conversation with Joshua Baldovino highlights the importance of celebrating accomplishments and cherishing the moments we share with loved ones. Alvin's own experiences, such as making it to the NFL and closing his first property, serve as reminders of the joy that comes from achieving goals. He encourages everyone to live in the moment. He emphasized the importance of celebrating both large and small wins and encouraged listeners to connect with him on social media or through his private equity firm, Financial Athlete Capital, for collaborations and educational opportunities in wealth building and strategy implementation.
By applying the athlete mentality to my investment strategy, Alvin is confident that he will continue to achieve his goals and create a successful portfolio for himself and his investors. So, whether it's on the football field or in the world of real estate. Cheers to living in the moment and making the most of every day!
