A highly successful Entrepreneur and real estate investor from London, England who’s been featured in Yahoo Finance and Forbes has been transforming lives around the world with one simple idea.
The idea? Think long term.
“I’d watched my mum build a successful business and lose it all as a teenager. Recessions eat people alive. They’re on a cycle, so you know they’re coming. Yet, every single time people seem suprised when they happen. It catches people off guard and it’s always puzzled me why people don’t prepare for them” Jay said.
He has successfully built a multimillion-dollar Ecommerce business and has a successful multimillion-dollar property investment portfolio. I asked him what made him get into ecommerce.
“You see, for me, i’m always hyper aware of the financial market. I wanted a business that wouldn’t suffer as a result of a recession and I found ecommerce usually thrives in a recession” Jay said. I asked him why he was certain ecommerce would grow in a recession.
“Well, when I did my research I knew ecommerce grew in the last recession. When I researched into why it quickly became obvious. The best prices are usually online. It saves you time and money from driving to and from the shops and skips their markups. Even in a recession, you still need toilet paper. So you’re going to buy it from someone. I just want to make sure it’s from me.” I could see he had clearly done his research. He went on to going deep into the statistics and background research he had done. It was extensive to say the least. I then asked him about how the corona virus was affecting his real estate portfolio.
“For me, I’m not really affected. There are people out there who have done large mortages and leveraged themselves to the hills. I don’t owe a single loan. My house. Paid cash. My car. Paid cash. All my apartments. Paid cash. I don’t loan anything. It stops me expanding at the exponential rate others had managed to achieve. But believe me. They’re the guys losing everything right now. There’s a guy out there right now with 600 units that he just lost because he couldn’t make the mortage payments because he’s not collecting rent. I don’t owe a penny. So all the ones I currently have rented. Awesome. The ones that are vacant aren’t a huge deal because I don’t have to worry about making payments to the bank. I have maintance but it’s minuscule if you compare it to the amount we’re bringing in from the other units” Jay said.
Mr Jay has put a lot of time and effect into building his wealth and protecting it. He has a very aggressive defensive tactic to investing but it appears to be working out for him as he continues to grow and thrive during this tough period.
If you’re looking for what Alex Jay does you can find him on instagram: @AlexJay020
You can find his website: www.ezayautomation.com
What to take away from this article? Build a strategic business model that keeps in mind tough financial time periods. This will give you the ability to ensure not only your survival but your future success.