Dan Fleyshman

And I've got back to back to back to back podcasts. And our very first one is a friend of mine for many, many years. He's played on the field in sports and the NFL.

and played in the business field investing in real estate and doing developments there so we're going to talk about all things business real estate how to transition from athletes to become a business person because i'm so excited that he did that and i want more athletes to do that so i'm going to ask him some serious questions about that so without further ado give a quick two minute bio mr larry english and then we'll get straight to the money oh man daniel thank you so much for having me um it's an honor to be here you know legendary money mondays

and played in the business field investing in real estate and doing developments there so we're going to talk about all things business real estate how to transition from athletes to become a business person because i'm so excited that he did that and i want more athletes to do that so i'm going to ask him some serious questions about that so without further ado give a quick two minute bio mr larry english and then we'll get straight to the money oh man daniel thank you so much for having me um it's an honor to be here you know legendary money mondays

So I'm going to start off with a very hard-hitting question.

So I'm going to start off with a very hard-hitting question.

There's a famous statistic that within five years of leaving the league in the NFL, over 80% of athletes, sadly, go bankrupt. Why do you think that is?

There's a famous statistic that within five years of leaving the league in the NFL, over 80% of athletes, sadly, go bankrupt. Why do you think that is?

Right, where athletes can't go back on the field. The entrepreneur can shake it off, go follow through bankruptcy, cry for a few years and get back into the field. NFL player doesn't get to call back the chiefs of the charge and be like, hey, I'm 39, can I come back? Unless you're Tom Brady, you don't get to go back.

Right, where athletes can't go back on the field. The entrepreneur can shake it off, go follow through bankruptcy, cry for a few years and get back into the field. NFL player doesn't get to call back the chiefs of the charge and be like, hey, I'm 39, can I come back? Unless you're Tom Brady, you don't get to go back.

The reason for the question, guys, is there's a couple of key things that would happen. Someone goes from being a college kid where there was no NIL, which means they didn't get to make millions and millions of dollars the way that college kids now do. When we grew up, I had Ricky Williams and Household Name guys that were living off of 40 bucks a week. We were eating burritos and cutting in half.

The reason for the question, guys, is there's a couple of key things that would happen. Someone goes from being a college kid where there was no NIL, which means they didn't get to make millions and millions of dollars the way that college kids now do. When we grew up, I had Ricky Williams and Household Name guys that were living off of 40 bucks a week. We were eating burritos and cutting in half.

Yeah.

Yeah.

like they daryl russell from the raiders he was living with me and he would literally joke about they would all pitch in like five bucks each to get jack in the box yeah because they weren't allowed to have a job you literally weren't allowed to have a job while going through college yeah and so nowadays a lot of college kids are falling making crazy money yeah the reason i asked the question is imagine you're 21 you get signed to the chargers you play there for seven years now you're 28 and it's time to retire or time to move on to business

like they daryl russell from the raiders he was living with me and he would literally joke about they would all pitch in like five bucks each to get jack in the box yeah because they weren't allowed to have a job you literally weren't allowed to have a job while going through college yeah and so nowadays a lot of college kids are falling making crazy money yeah the reason i asked the question is imagine you're 21 you get signed to the chargers you play there for seven years now you're 28 and it's time to retire or time to move on to business

the problem is most of the guys keep the same overhead so they were making four million a year in the league but and they're spending 80 grand a month and don't realize that 80 grand a month that's a real fast because they're covering their friend their ex-girlfriend their ex-wife their parents their uncle their cousin their cousin's cousin's friend that they loan 50 grand like boom boom boom and they keep up the overhead and no more income and then they're like wait a minute i've got four cars two houses like

the problem is most of the guys keep the same overhead so they were making four million a year in the league but and they're spending 80 grand a month and don't realize that 80 grand a month that's a real fast because they're covering their friend their ex-girlfriend their ex-wife their parents their uncle their cousin their cousin's cousin's friend that they loan 50 grand like boom boom boom and they keep up the overhead and no more income and then they're like wait a minute i've got four cars two houses like

three children there's all these things that are going on with overhead side but they didn't fix the fact that they don't have the income coming in and they're not deploying the capital and they're surrounded by people that are asking for 50 grand here 100 grand here can i just get five grand a month oh yeah it's only five grand a month well no that's 60 grand a year for the next five years it's 300 grand but you only made four million in the league you just paid eight percent to your cousin is two is once you once you start especially like with family members right once you start down that cascade of events as it relates to kind of

three children there's all these things that are going on with overhead side but they didn't fix the fact that they don't have the income coming in and they're not deploying the capital and they're surrounded by people that are asking for 50 grand here 100 grand here can i just get five grand a month oh yeah it's only five grand a month well no that's 60 grand a year for the next five years it's 300 grand but you only made four million in the league you just paid eight percent to your cousin is two is once you once you start especially like with family members right once you start down that cascade of events as it relates to kind of

What would you tell them to not go waste their money on three watches and three cars and a bunch of craziness, nightclubs and bottle service?