NBA star LaMarcus Aldridge wheeling and dealing again

While he may be in the middle of a mega-bucks $80 million contract with the San Antonio Spurs, NBA basketball star LaMarcus Aldridge is again wheeling and dealing in the real estate market. Even prior to his monumental contract signing in 2015 he was well-known as a real estate investor having bought and sold a number of properties, showing a good understanding of the markets. So, what is LaMarcus Aldridge up to at the moment?

Selling his Southlake home

Records show that LaMarcus Aldridge has listed a home in Southlake, Texas for $1.6 million. We also know that the property was originally listed at $1.52 million in 2015 although we do not know for certaint if LaMarcus Aldridge paid the full asking price. With his track record in real estate it is fairly certain that he managed to negotiate a better deal and could bank a few thousand dollars if his latest flipping episode goes through.

Beautiful three story property

The Southlake home is a beautiful three story affair in one of Southlake’s more affluent neighbourhoods. The house looks pristine, fairly new and the kind of property which offers security and privacy in equal measures. The property itself has three bedrooms with 4.5 bathrooms and includes an array of high-end finishes such as granite counters, wide plank floors and 10 foot high ceilings. Yes, 10 foot high ceilings!

Open plan style

The open plan property is dominated by wooden floors, white furniture and white decor and includes an extremely stylish and spacious kitchen area. There is a breakfast bar big enough to seat five people, all the kitchen equipment you would ever want at eye level and storage as far as the eye can see. Then we have the family room, dining room, games room and a plunge pool outside.

It has to be said that the outside area is very stylish with wicker chairs and plenty of space in which to relax. We can imagine catching a few rays in the courtyard area which has no doubt been host to a number of parties. Spacious and stylish, what more could you ask for?

Following in the footsteps of LaMarcus Aldridge

Some sport stars may attract the opinion that they have more money than sense but this cannot be said of LaMarcus Aldridge and his real estate escapades. We know that he flipped a property in Newport Coast, California in 2012 having just acquired it 4 months earlier. The sale price of $8.35 million equated to a profit of $1.35 million on the original £7 million purchase price.

While details are a little thin on the ground, we also know that he sold a property back in 2009 and another in 2011. The fact that he is including “most furnishings” in his latest sale would suggest that he sees real estate as an asset to trade rather than a home, at least at the moment.

Flipping is an art

The ability to buy a property at a rock bottom price and resell it in just a short time for a significant profit is an art in itself. Real estate flipping has been the subject of many property programs and while relatively easy to explain in theory, the practical is very different. Therefore we can only assume that LaMarcus Aldridge has a natural skill in the world of real estate investment – one which he is certainly making full use of.

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