Paul Moore – Founder and Managing Director at Wellings Capital, sat down with us to talk about his “How to Lose Money” podcast, how he donated his way out of some crushing debt, how he got involved in real estate and creating Wellings Capital, and discussed his company’s social responsibility goals to help stop the global human trafficking epidemic.
Three Key Take-Aways from this Episode
- Think ahead to your life when you want to stop working and create multiple passive income streams that will support that life.
- Build in a margin of safety for whatever it is you do, whether it be investing or driving to the church on Sunday. Plan for as many things to go wrong as you can think of and confirm that things will still be ok if several of them comes to pass.
- Find experienced operators to partner with, preferably ones with a long track record of success through at least one market cycle.
What you’ll learn about in this episode
- Paul Moore shares how his career has changed over the years.
- What is the destination that Paul wants real estate to take him?
- What is the general correlation between health and not working?
- Paul’s company is offering a significant amount of its profit to stop human trafficking.
- ExodusCry.com created a documentary about human trafficking called Nefarious.
- How did Paul Moore get himself educated in real estate?
- Try to find mentors that have lived through several recessions.
- What should we know about the margin of safety?
- What is Paul Moore’s riches to rags to riches again story?
- How does Wellings Capital go about financing their deals?
- What is the difference between syndication and a fund?
- How much does Paul spend on real estate endeavors these days?
- What are Paul’s highest return on investment activities?
- What is Paul Moore’s “How to Lose Money” podcast about?
- It is important to know we aren’t alone in failures and that there is hope.
- What helps Paul with efficiency in his business?
- Does Paul visit the properties he invests in?
- Know the difference between investing and speculating, have discipline and be accountable.
- A lot of people work harder than they need to and earn less than they could be.
- What advice would Paul give to new real estate investors?
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Investing is when you’ve got a fairly protected principal, and you have a chance to make a profit. Speculating is when your principal is not at all safe, and you have a chance to make a profit. ~ Paul Moore
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