Description

Today I had the absolute pleasure of speaking with the Managing Partner of Wellings Capital, Mr. Paul Moore.

Let’s get into Paul’s story and wisdom on making the right investments and his mistakes in the multifamily field and his so you can avoid them. 

Things you will learn in this episode:

 [00:01 - 04:00] Opening Segment

•  I introduce our guest, Paul Moore
  • Paul Introduces himself and gives his background of how he started flipping properties then realized he wanted to get into multifamily real estate. 

[04:00- 13:35] Paul’s Misstep Stories - Investing vs. Speculating

      ●     Paul talks about his mistakes in the field by speculating instead of truly investing

• Ignoring advice from mentors leading to Paul losing money on a deal
• Why Paul was unable to raise apartment rent 
• Paul talks about how to prevent his mistake from happening
  • He talks about this in his book The Perfect Investment  
  • Realizing multifamily real estate has a lot of competition, Paul looks towards different types of multifamily homes. 

[13:35 - 17:58] Closing Segment 

• Words of Wisdom for our listeners
  • Make sure to invest and not speculate. 
  • Make your mistakes while you’re young
  • Don’t plow a whole high percentage of your cash into one property
• Paul talks about diversification 
• The One Thing - Gary Keller 
• Final words from me

Tweetable Quotes:

“In Real Estate there are so many opportunities to invest safely and part of that can be reflected in the debt service coverage ratio; The margin of safety between your net operating income and your debt payments… there are so many good ways to invest but you shouldn’t have to speculate and so I recommend people really think through that.” - Paul Moore

You can connect with Paul and his team at  wellingscapital.com. Also, be sure to check out his podcast How to Lose Money. You can also visit him on LinkedIn. 

LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes.

If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!

Support the show

Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.