Secret Academy Episode - Alex Farrington
About:

Alex Farrington was born in NYC and graduated from Beverly Hills HS and Cambridge University in England. He moved to Atlanta to continue his education at Morehouse with a dual degree in Corporate finance and Japanese. He then started Prestige Valet Services in 1997 and still operates that today. He started Prestige Auto Salon (detailing salons in office building) in 2001 and sold it in 2005 for $80k. He started Auto Storhaus (High Line car storage) in 2008 and sold it in 2011. He then purchased his first commercial building with that money and sub-divided it to rent it out to attorney firms. In 2010, he purchased a foreclosure for $300k and today it is worth close to a million. This is now his primary residence. It is 10k sq ft and has a 5 car garage that sits on 2 acres. He currently has 7 cars including a 2001 Honda NSX Turbo (600+hp) 1995 BMW M3 track car, 2001 M5 daily driver, 2013 BMW X3, 2003 Lifted Ford Excursion Diesel, 2004 Mercedes ML430, 1995 Jaguar XJS Convertible, Motorcycles, ATV and a boat.

Lesson's in Today's Interview:
  • How small calculated moves, can lead to big results.
  • How he got in the valet service and why.
  • How the valet service industry works from within.
  • How to secure the big contracts.
  • Capital needed to embark on such a journey.
  • Why he got into the storage business and why he sold it.
  • How to sell a small business for profit.
  • How to evaluate the selling price of your business.
  • Why commercial real estate made sense after other ventures.
  • Where he learned about real estate.
  • Why Atlanta, and what are his expansion plans.
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