060: Transforming Professional Sports into a Life of Entrepreneurship with Art Morrison III

Art Morrison III is a successful real estate investor who has transitioned from professional sports to entrepreneurship. Art shares his story of overcoming adversity and starting multiple businesses, including youth basketball training giant Above Max Basketball. Morrison discusses the pros and cons of flipping houses for passive income versus holding onto investments for long-term growth. He predicts that the real estate market will continue to grow, and encourages us to consider investing in multifamily properties as their next investment opportunity. While he has made some mistakes in his life, the biggest one was not making it to the NBA. He credits this experience as teaching him a lot of lessons about persistence, understanding that you can't always achieve your goals the first time, and having a higher goal to aim for. 

 

[00:01 - 05:16] Opening Segment 

• Introducing Art to the show
• Brief background and career
• Starting as a professional basketball player
• Owning multiple businesses and becoming a very successful real estate investor

 

[05:17 - 12:41] Long Term Cash Generation

• The biggest challenge with flipping houses was that for the same amount of work it took a lot longer to make the same amount of money
• Finding success by partnering with other people and investing in mentorship

 

[12:42 - 17:01] Lessons Learned from Failure in the NBA

• The biggest barrier to entry in the real estate industry is understanding the information and rules of the game
• persistence and learning to aim for the stars
• This experience also taught him about the importance of learning from mistakes and seeking mentorship

 

[17:02 - 21:35] Closing Segment

• Get to know more about Art through the lightning round!
• See the links below to connect with Art

Quotes:

 

"I was just trying to find something that didn't have a ceiling. I stumbled across real estate, and I haven't looked back since." - Art Morrison III

"It's like basketball. You can go and train by yourself for sure. But it's not gonna hit the same as hiring a trainer or having someone who played at the level.” - Art Morrison III

 

Connect with Art through LinkedIn and Facebook. Get a free copy of his book, “Overcome” by visiting www.morrisonenterprisellc.com

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Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.