Most Olympians don't make millions. This bobsledder rented out his home to boost his income while competing around the world.
"Athletes will go into debt trying to chase their dream," Olympic bobsledder Boone Niederhofer told Business Insider.
Boone Niederhofer, an engineering graduate from Texas, made headlines for his unique approach to funding his Olympic bobsled career. Unlike many Olympians who quickly reap financial rewards, Niederhofer found that the costs of competing in lesser-known sports like bobsled can outweigh the benefits. With expenses like equipment, travel, and lodging piling up, Olympians often find themselves in debt chasing their dream.
To make ends meet during the 2026 Winter Olympics, Niederhofer got creative. He rented out his Midland, Texas home to cover the family's expenses while they traveled through Europe for the World Cup season. This arrangement allowed his wife, Chloe, and their two young kids to join him, instead of being separated for months. The rental income proved invaluable, enabling the family to spend quality time together during this intensive period.
Niederhofer's path to the Olympics was not a straightforward one. After a layoff from collegiate football due to COVID-19, he turned to bobsledding as a new pursuit. His natural athleticism from his football days served him well, but he had to work full-time and balance his training with his job responsibilities. Despite the challenges, Niederhofer managed to make the Olympic team, competing in Italy in 2026.
While making the team brought some benefits, such as free supplements and clothing, the financial payoff was modest. Niederhofer is eligible for the Stevens Award, which provides financial support to Team USA athletes later in life. However, the day-to-day economics of competing remain tough. Bobsled is often considered a blue-collar sport, with athletes like Niederhofer pursuing the sport for passion rather than financial gain.
Looking ahead, Niederhofer and his family plan to continue leveraging real estate as a supplemental income source. If they participate in another competition season, they could rent out their home again. Additionally, they may choose to keep their Midland, Texas home as a long-term investment property. For now, Niederhofer is focused on recovering from a recent ACL injury and preparing for a potential run in the 2030 Winter Olympics.
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