RV Parks, Multifamily Apartments, and a Track Record of Success with Paul Moore‪!‬ The Military Millionaire Podcast

Episode: 166
Paul Moore
Join your host David Pere and Alex Felice in this episode with guest Paul Moore as they dive into self storage investing and how experience helped him brand experts differently from "gurus" in the world of investing.
 
"He who chases two rabbits catches neither." As someone who used to marvel at the thought of being a serial entrepreneur, Paul had to learn this lesson the hard way through losing millions of dollars. But, with his years of experience and exposure, Paul saw that making a profit isn't always about the "exciting" stuff.
 
In this episode, Paul explains why investing is supposed to be boring, how Warren Buffett rose above the tech bubble burst, his take on investing in self storage, and why he has coined the term "nuru" as a replacement for the title "guru."
 
About Paul Moore:
 
Paul Moore is the Founder and Managing Partner of Wellings Capital. After graduating with an engineering degree and then an MBA from Ohio State, Paul entered the management development track at Ford Motor Company in Detroit. 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. After a brief "retirement" in his early 30s, Paul began investing in real estate in 2000 to protect and grow his own wealth.
 
He 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.
 
After completing three successful real estate developments, including assisting with the development of a Hyatt hotel and a very successful multifamily project, Paul narrowed his focus on commercial real estate in 2011. Paul is married with four children and lives in Central Virginia.
 
Outline of the episode:
 
[03:00] How do these rich guys get involved in real estate?
[05:16] Investing should be boring!
[10:03] Bigger Pockets: The Blind Leading the Blind?
[15:41] Warren Buffett was called senile in 1999
[20:30] Paul Moore – what I love about self storage
[26:06] Wellings Capital's search for expert RV park operators
[31:17] You literally own the pad when you invest in RV parks
[36:27] There's never been a sustained drop in real estate prices—really?
[41:06] Cap rate decompression can crash a lot of people
[46:13] A great operator thinks like Michelangelo
 
Resources:
 
Website:              https://www.wellingscapital.com/
LinkedIn:             https://www.linkedin.com/in/paul-moore-3255924/
 
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