E07: Changing Uniforms, Changing Careers: Matt Capps on Transitioning From Pro Athlete to Businessman

Kris Benson and Alec Ogletree sit down with former MLB pitcher Matt Capps for a candid conversation about transitioning to life after professional sports. Over the course of his seven-year MLB career, Matt played for the Pittsburgh Pirates, Minnesota Twins, and Cleveland Indians before retiring in 2016. In this episode, Matt shares lessons learned from his baseball career and discusses his new ventures in real estate development. Here are some power takeaways from today’s conversation: [00:00] [02:28] Baseball memories and childhood experiences [16:19] Baseball draft experience and signing bonus [19:36] Matt’s perception of money [22:51] Minor league baseball pay and contracts [28:44] Baseball career path and promotion to the majors [38:44] Baseball finances and pension planning [42:56] Follow the money [44:51] The power of leveraging relationships [54:14] The importance of doing due diligence [1:09:50] Business and personal growth after 40 [1:15:36] Getting to know your financial plan even during the season [1:16:51] The power of ask   Episode Highlights: [42:56] Follow the Money Matt discusses an important lesson he learned about following incentives when it comes to financial advice. He explains that early in his investing career, his financial advisor steered him away from real estate investments. However, looking back, Matt realizes that the advisor did not have expertise or ways to profit from real estate deals. So when the advisor discouraged real estate, it was actually because they couldn't directly benefit or collect fees from those types of investments. Matt came to understand that when a financial professional advises against an asset class they can't control or profit from, it may be due to misaligned incentives rather than objective financial guidance. This was an "aha" moment for Matt about following the money and incentives when receiving investment recommendations. [44:51] The Power of Leveraging Relationships Matt’s involvement in a large-scale real estate development project in Huntsville, Alabama came about through connecting with the right people in his network. He details how a chance meeting with a friend of a friend, who was an experienced developer, led to a partnership opportunity on a $62 million apartment complex project. This relationship allowed him to gain expertise from industry professionals while also participating in a major deal. Even small initial interactions, like agreeing to have a casual lunch, may ultimately result in high-impact collaborations and opportunities if you make the effort to nurture your relationships over time. [54:14] The Importance of Doing Due Diligence Matt discusses the importance of conducting due diligence even on smaller real estate deals. Buying his first medical office building with a partner, he notes that despite it being a relatively small investment, he still insisted on visiting the property in person to verify the details before committing funds. While his partners simply wanted to move forward based on the financials, he took the time to inspect the HVAC systems, talk to tenants, and ensure the asset matched the description. His extra diligence helped avoid any potential issues down the line. Taking the time for due diligence can help mitigate risks and give investors greater peace of mind, even on more modest real estate plays. Resources Mentioned: Reliant Real Estate Management Follow Matt Capps on X: @mattcapps55