Colin Kaepernick known for his protests against police brutality has once again been brought into the spotlight for his new Nike ad. A little-known fact, however, is that Colin Kaepernick flipped his house.
Kaepernick and Nike
Nike decided to make Colin Kaepernick the face of their ad for their 30th anniversary of the “Just Do It” campaign. Most recently Jenifer Lewis, of Black-ish wore Nike to the Emmy’s to show her support. This has thrown opposition into a frenzy. For example, in Kenner, Louisiana, Mayor Ben Zahn released a memo on September 5th, banning Nike products from Kenner facilities. The memo stated, “Under no circumstances will any Nike product or any product with the Nike logo be purchased for use or delivery at any City of Kenner Recreation Facility”.
In response, Kenner City Councilman Gregory Carroll has called a meeting with the mayor and other leaders in the city. As any investor knows, this bold move by Nike would, of course, cause stocks to be sold initially. Typically done by those who disagree with their politics. This brief drop would then be picked up by those realizing an opportunity to purchase Nike stock at a lower price. Boosting their stock right back up to where it had been and potentially surpassing the initial price. Speaking of increasing profit, Colin Kaepernick seems to know a thing or two about it as he flipped his San Jose home.
Colin Kaepernick’s House
The gated, two-story home was truly fitting for an NFL star. He originally purchased it in 2014 for 2.7 million, which to its credit, it appears to be worth every cent. The modern home with relaxed tones shows both class and wealth. Kaepernick put it under massive renovations prior to selling. If this were your foyer, you’d be a lot more motivated to throw touchdown passes.
As many real estate investors can tell you, typically a house will lose its value over time. A home will experience wear and tear and not be worth as much as it was initially. Which is where house flipping comes in.
Flipping means to purchase a property and quickly resell it for profit. For those flipping homes, the amount of time depends on how much money they want to get out of the property. Obviously, keeping in mind the balance between the price of repairs and updates, and its final selling price.
This home was clearly also easy to work with. Offering 4,569 square feet, a waterfall swimming pool and jacuzzi. Touching up a home and furnishing it can mean all the difference between your asking price and your selling price.
The house sold for $3 million, though it was listed for $2.8 million, and originally purchased for $2.7 million. Although the belief is that Kaepernick sold the house because his time as a San Francisco 49er was up, it is still a great way to go. What better way to show people you will continue to prosper than to flip your home as you head off?
San Jose Real Estate Market
Kaepernick might have also had some help from the real estate market in San Jose. Though the city has a median home value of $890,847, some of the most expensive properties in California are in San Jose. The positive attributes of the city can also heavily play into home prices. Often famous people believe having lived in a home adds value to it but real estate agents are quick to correct that belief. It often has no effect on the decision of a buyer, unless it dissuades them like in Michael Jordan’s case, where overbranding may be hurting his chances of selling.
Whether you bought Nike stock or burned Nike socks, you can’t doubt that Kaepernick came out on top when he flipped his house. For more information on how you might pull an all-star move and sell your house for more than you bought it for, stay tuned to International Real Estate . News.