You may be overpaying on competition-rich multifamily assets. How do you go against the grain! Listen in and find out! Paul Moore is the Founder and Managing Partner of Wellings Capital. Paul entered the management development track at Ford Motor Company in Detroit and after five years, he departed to start a staffing company with a partner. They scaled and sold the company to a publicly traded firm five years later. He began investing in real estate in 2000 to protect and grow his own wealth. Paul completed over 85 real estate investments and exits, appeared on HGTV’s House Hunters, rehabbed and managed dozens of rental properties, and developed a subdivision. He is also the host of the podcast, How to Lose Money, and author of the book, The Perfect Investment.
Let’s dive in and get to know Paul and his secrets to finding the perfect investment.
Getting to know Paul Moore - [00:01 – 04:23]
I introduce Paul Moore
How Paul navigated through investments
Discovering multifamily investing
The problem of overpaying
Expanding into mobile homes
How to Find the Perfect Investment - [04:24 – 22:14]
Paul talks about the ‘why’ behind mobile park investing
An asset with multiple families, just like multifamily
MHP investing keep the hassle on the owner
Sticky tenants - example of 6% increase
The economics behind MHP
The opportunities involved
What a great operator does with MHP
Not adding but extracting value
Example through a current investment of mine
Buying intrinsic value, paying extrinsic value
How the operations look
Final Questions- [22:15 - 25:34]
How Paul is adding to the world
Fighting human trafficking
Free book and course from Paul
“The perfect investment is not perfect if you have to overpay to get it.” - Paul Moore
“This is how you get wealthy, you don’t go with the herd, you break the stream and go against the stream.” - Chad Sutton
“This is what a great operator does with Mobile Home Park investing… They’re not necessarily adding value, they’re extracting the inherent value.” - Paul Moore
Want to connect with Paul? You can find him on Twitter and LinkedIn. Check out https://www.wellingscapital.com/ and protect and grow your wealth.
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Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth!
Click here to find out more about the host, Chad Sutton.