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Go From Riches To Rags Back To Riches Again with Paul Moore

Jun 14, 2021

After a stint at Ford Motor Company, Paul Moore co-founded a staffing firm where

he was a finalist for Michigan Entrepreneur of the Year two years straight. After selling the staffing firm to a publicly traded company, Paul began investing in real estate, founded multiple investment and development companies, appeared on HGTV, and eventually built and co-managed a successful multi-family development.

Paul is also the host of How to Lose Money Podcast and the contributor to Fox Business and Bigger Pockets, producing live video and blog content on a weekly basis. Paul is the author of The Perfect Investment – Capitalize on America’s Obsession with Stuff by Investigating Self-Storage. Paul is the Managing Director of three commercial real estate funds at Wellings Capital.

Let’s listen to Paul as he shares his inspiring life story and gain more knowledge about investing in multifamily, self-storage, and mobile home parks.

[00:01 – 04:15] Opening Segment 

  • Let’s get to know Paul Moore.
  • Paul shares his background and how he got to where he is today.
    • Speculating vs. investing 
  • The benefits of investing over speculating.

[04:16 – 14:15] Speculating vs. Investing

  • Paul shares his definition of speculating and investing.
  • The exception of speculators that are exposed in movies and books.
  • The misconception of being financially free and getting wealthy fast.
  • Speculation in using leverage.
  • Why Multifamily investing is a great place for investment.
  • The benefits of the multifamily coaching and mentoring program.
  • Paul talks about his book ‘The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing.’
  • The supporting factors of Multifamily.
  • The overpopulation and other recent issues on multifamily.

[14:16 – 29:35] Create Profit Machine from Self-Storage and Mobile Home Parks

  • Paul talks about his pivot to self-storage and mobile home parks.
  • Create a profit machine by upgrading self-storage and mobile home parks.
  • The effect of a massive compression of cap rate to Mom and Pop mobile home parks owners.
  • The potential upsizes and the criteria list of mobile home parks.
  • Evaluating the value of mobile home parks.
    • the net operating income derived from lot rent: the cap rate + the based depreciated value of the mobile homes
  • Value add opportunities to self-storage facilities.
  • The main criteria to buy a self-storage facility.
  • Reasons why we should not build a self-storage facility from the ground up.

[29:36 – 40:00] Go From Riches To Rags Back To Riches Again

  • Paul talks about his ‘How to Lose Money Podcast’ and how he started it.
  • Sharing the true story of pain and struggle.
  • Paul shares the story of how he got out of 2,5 million dollars debt by faith in 13 months.
  • What would George Müller do?
  • Paul talks about his friendship with Whitney Sewell.
  • Why we should have our ‘Big Why’ in life.
  • The importance of having the bigger why that is much bigger than ourselves and what we are doing.

[40:01 – 42:45] Closing segment

  • If your great-great grandkids are to write a book about you, how would you like it to be titled? 
    • Paul Moore, an Honorable man.
  • Connect with Paul.
  • Final words from me.

 

Tweetable Quotes:

“ If you keep playing double or nothing with most or all of your capital, you'll eventually land on nothing then you'll have nothing left to double.”- Paul Moore.

“Our goal is to give people hope. If they know that the successful people had pain too, they will realize hey I can make it too.” - Paul Moore.

“ I think it's really important that we all have a bigger why, that's much bigger than ourselves, what we are doing, our bank account.” - Paul Moore.

  

Find out more and connect with Paul on Linkedin Or you can visit his website at https://www.wellingscapital.com/.

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I believe that you only need a small axe to build a lasting empire. So let’s start building yours!

To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook or check out my website https://smallaxecommunities.com/ and book a call with me.