A Slam-Dunk in Houston Real Estate
Hakeem Olajuwon, the soft-spoken Nigerian émigré who led his team to two N.B.A. championships, has also done extremely well flipping real estate in his adopted hometown. Following an unorthodox yet disciplined strategy, he has managed to make as much in real estate in the last 10 years as he did in his 17 seasons playing professional basketball.
“He buys high and sells higher,” said David L. Cook, executive vice president with the commercial real estate firm Cushman & Wakefield, who has represented Mr. Olajuwon in several transactions.
Many of the former N.B.A. All-Star’s real estate plays caused market watchers in Houston to shake their heads because they felt he overpaid.