Seam bowler Ruaidhri Smith has set up multiple property businesses as he plans for life after cricket.
Smith, 27, has completed nine full seasons in professional cricket and has also kept himself busy off the field. Smith completed a Mathematics degree in 2016 and has an interest in financial services but most recently, he has set up two property companies.
The fast bowler spoke to the PCA about finding something that he is “really passionate about” to go into after his cricket career. The interview is another feature for the Association’s 2021 Futures Week to encourage its members to be proactive with their future planning.
Smith, said: "After nine years as a professional cricketer I have got used to very flexible working hours, and I think I have learned that I would not enjoy a 9-5 office job.
“It’s about trying to find something that I enjoy so when I finish playing I have built something profitable and sustainable. That way, I can slide straight into it and it will replace my earnings from cricket.”
He continued: “Something that I am going into is property. I am starting out at the moment in buy-to-lets with students. The aim is to go into developing in the long term.”
Smith has founded two companies that are separate from each other. He told the PCA: “I set up one company last year with family friends which has a buy-to-let and a management side to it. I also have another which I have on my own. This looks at slightly bigger HMO student houses which I am excited about. It is a bit daunting but certainly exciting.”
Smith remembers the complexity of acquiring his first buy-to-let property and spoke about the small details he had to overcome. He said: “Purchasing my first buy-to-let was a learning curve. There are hidden costs like solicitor fees, survey fees and stamp duty which is big with buy-to-lets. Also, what you need to satisfy for mortgages and the further proofs you need.
“When it is not my own personal property I found it less stressful, as problems arise it is just dealing with it and moving on.”
As part of ongoing personal development, the PCA works closely with players to provide opportunities to upskill. Smith explained how he was the beneficiary one of these opportunities. He said: “Last year I attended a one-day PCA introductory to mastermind principles with Simon Zutshi. I found the snapshot into different techniques I hadn’t heard of before really interesting.
“I followed that up by doing the three-day accelerator course which was in further detail. I learnt different techniques that I have taken with me to the companies I have started.”
The Welshman explained about different ways to get into the industry and why you may not always need a huge deposit. He said: “There are different methods. You could start with a couple of rent-to-rents, you can look at empty properties just sat there without tenants and you can rent those. Then you can look for better ways to utilise that space to potentially make a profit. If you do your research, you can get really good value and then it is really worthwhile.”
On top of the property that Smith owns, he has two further irons in the fire. He said: “I have one buy-to-let flat. Another one that I manage and then I have two that are currently going through the solicitors at the moment. This could be a lot of work in the next few months but is very exciting.”
In addition to his interest in property, the 27-year-old also has an eye on financial services. He told the PCA: “I have always been interested in finance and maybe going into the city, whether that was in London or elsewhere.
"I have been doing those sorts of things as well and getting some courses done. I did the IMC (Investment Management Certificate) this year so it has been quite nice for me, after a few years off doing proper qualifications, to get back into it and start learning again."