Alex Udeze became self-reliant at an early stage of his life. To cater to his needs, he started a video rental store at the age of sixteen. Fear of facing financial difficulties and a sense of duty as the older sibling in a large family propelled this early venture into business.
Several years down the line, the young and dynamic Alex Udeze is now a co-founder of the successful real estate company Distress Property Market Ltd (DPM).
Nonetheless, there were obstacles in the way of achievement. Alex recounted lack of trust as one of the many difficulties he encountered. In order to overcome these obstacles, Alex and his group created a methodical strategy that gave integrity and trust top priority in all of their dealings. They discovered that having good intentions wasn’t enough in the real estate industry.
In less than a month, Alex’s first deal—a distress sale in Lekki that he bought for 120 million naira and resold for 160 million naira—marked a turning point in his entrepreneurial career. This signalled a shift in the organisation that resulted in the creation of deliverables and key performance indicators as well as team growth.
Alex highlights the significance of consistency, intentionality, honesty, and patience for prospective entrepreneurs venturing into a competitive sector. With dedication and hard work, one can succeed even in crowded niches.
Distress Property Market Ltd. is growing quickly and is starting to become a popular choice for purchasers in Lagos who are searching for offers on properties that are below market value. Future plans call for opening a branch in Abuja and spreading to Egypt, South Africa, Liberia, and Kenya, among other African nations.
Future prospects appear bright for the company with new offerings including the distress capital investment vehicle and alliances with significant Nigerian banks. Alex Udeze and Distress Property Market Ltd. have demonstrated extraordinary entrepreneurial success through their journey from a little video rental shop in front of his father’s house to a well-known brand in the real estate industry.
Alex Udeze is happily married to Lyris Chukwugozim Okolie and their union is blessed with a child.
