What’s Mo Vaughn been doing since he left the game of baseball? Along with two partners, he’s invested over $500 million in run-down housing and its renovation.
What’s Mo Vaughn been doing since he left the game of baseball? Along with two partners, he’s invested over $500 million in run-down housing and its renovation, creating a new base of affordable housing in the process.
The former Red Sox and Angels slugger has parlayed a pretty decent playing career into a second career as a real-estate mogul. In addition to the aforementioned run-down housing in Massachusetts, New York State and Wyoming, he and his partners are set to close on $200 million more.
Most players leave baseball and enter business on some level, whether it’s sales or investing. But Vaughn has taken it up several notches: he’s purposely invested in run-down properties and rehabbed them as part of an effort to give back to the community. Yeah, there’s a good business reason to invest in distressed properties, but you get the sense from this article in the New York Times that Vaughn is interested in more than just ROI:
“I always had dreams of coming to New York, driving through the boroughs, and knowing people through baseball,” Mr. Vaughn said from his office on the 31st floor of the Dag Hammarskjold building on the East Side. “Now I know people in the boroughs for different reasons. Good reasons.”
Looking out over the United Nations building and the East River below, he added, “I knew the test of a man was what he’s going to do with his afterlife.”
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