Not many people will have an opportunity to retire early. But at only 28, Alex Assadi considers himself “semi-retired.” An investor who bought his first stock at 19: $500 of Exxon Mobil for $72.39 a share, Assadi gradually built his portfolio of income-producing assets when he was in college and his first couple of jobs until his passive-investment income eventually surpassed his living expenses allowing him to achieve financial freedom by his mid-20s. He is the author of Rich at 26.
Helping Others Become Financially Free
Now 29, Alexis Assadi has been sharing his investment tips and tricks on his blog for several years. The Vancouver-based investor runs a financial mentorship program with almost 100 enrollees. Assadi has also established nine companies including Assadi Capital Partners, a family office investing on his own wealth, and Pacific Income LP, which plans to generate money from outside investors.
Will he become the next Warren Buffet? In Assadi’s program, he scraps the “buy low, sell high” principle and instead sets his sights on income investing – owning assets that provide a regular income. This may include dividend-paying stocks, rent-generating real estate, or interest-earning debt. According to a report from Goldman Sachs, direct investing and passive income will become the new investment paradigms.
An Eye For Detail
While Assadi’s approach of income over value is contrary to that of Buffet’s, both investors share one characteristic as an investor, their intense attention to detail. Chris Hayre, Assadi’s former financial-education sales company and current business partner, Assadi’s eye for detail is something never seen before. He has been ahead of the curve on both investing and in Vancouver’s booming real estate market. With the prices going bananas, Assadi has made it out phenomenally well. His successful transition from traditional assets to direct investments in private companies has also been exceptional.
Invest While Young
However, Assadi acknowledges that his strategy will not guarantee financial freedom. However, given a fair shot in life, anyone can do it. While he was studying political science at the University of British Columbia, Assad received a telesales call from a bank convincing him to put his small pot of about $1,000 into a mutual fund. He started researching the fund, kick started his passion for investing that saw him reading the business news while he researched companies during lunch breaks at his first postgrad job at his uncle’s Wall Street company.
Assadi quit his job in order to focus on his own investment. After receiving no emails to respond to, he realized that the retired life was not that fulfilling. At the moment, he is focused on helping companies grow through his investments, which are currently focused on direct investment, loans, and real estate across Canada and Texas.