Episode 48: Paul Moore Wellingscapital Create Multifamily Investing Wealth

I am amped about today’s episode of REIP. I haven’t been this excited for an interview in a really long time. My guest today is totally changing the scene through his investment strategies and his faith, and I couldn’t be more psyched to have him on today. Paul Moore is the real estate investor behind Smith Mountain Homes and Wellings Capital, and he’s got the perfect balance between earning and giving back. This interview is one of my favorites, so strap in and get ready to have your mind blown. And please watch us on the video because Paul’s got amazing charts and graphs that really illustrate how his multi-family investing strategy works. Paul started out flipping properties like the rest of us, but how he got into multi-family investing is really interesting. He shares today how he launched an entrepreneurial venture in Detroit, got bored, and started flipping houses before flipping was even a thing. He started with mobile homes and moved up into waterfront properties. Things got tough when the housing bubble popped, like it did for most of us, but his recovery strategy was all about giving back. He was giving to others when he had nothing and it paid off in a huge way. He’s now working with multi-million dollar investments and teaching other investors how to benefit from the low risk and tax cuts of commercial investment in apartments and multi-family homes. Be sure to watch our interview video because Paul is sharing his graphs and his work illustrating how multigenerational profits work and how you can cash in on multifamily properties and investing. Start video at the 25 minute mark to see Paul’s charts and graphs that cover the on-going transformation of the housing market as we move through the 21st century. MINUTE MARKERS 4:20 -  Here is Paul Moore! 5:30 - Paul’s got his own podcast 6:25 - Paul got his start at Ford Motor Company 8:00 - How did get Paul get involved in real estate? 9:15 - Paul was his own inspirational leader at first 10:15 - Paul’s local business Smith Mountain Homes helps local real estate agents 14:10 - How did faith help Paul get out of his $2.5 million debt? 16:30 - What is WWGMD and who is George Muller? 19:20 - Paul’s fateful meeting in a Subway restaurant that changed his view of subdivision 22:28 - How did Paul’s experience shape his real estate investment strategy? 24:23 - What’s the difference between investing and speculating? 25:38 - What’s working for Paul’s commercial multi-family investing? (check the video!) 28:35 - Paul’s visual aids for the echo boom and how it effects home ownership 32:25 - The graph that convinced Paul’s financial planner to invest in multi-family 36:30 - The tax benefits of commercial investing 38:20 - How are fractional owners working for Paul’s multi-family investing strategy? 42:00 - A quick summary of cost segregation and the acceleration of depreciation 45:25 - Paul breaks down forced depreciation 50:15 - What’s Paul’s favorite motivation quotes? 52:30 - Paul absolutely loves HelpSpot 53:33 - Paul’s morning routine 56:40 - Paul talks about his Type A Personality sleep patterns 58:40 - What is Paul most grateful for? 59:25 - Paul recommends finding a mentor to help you kick start your next big move 1:01:50 - What does Paul’s company – Wellings Capital – have to do with Toms Shoes? 1:03:20 - Paul’s passion stops him from retiring 1:11:00 - Check out Paul’s book The Perfect Investment   If you email Paul your receipt at [email protected], he will match your amount with a donation to Exodus Cry Films RESOURCES Paul’s Podcast: How to Lose Money Paul’s Website: Smith Mountain Homes Paul’s Business: Wellings Capital Paul’s Book: The Perfect Investment   George Muller LoopNet C.S. Lewis HelpSpot Perry Marshall Toms Shoes Exodus Cry Ask Cory A Question Want to get in touch with Cory and ask him your most burning Real Estate Investing question?  We’ve made it super easy for you.  Just head over to our Ask Cory A Question page and start recording.  Cory will play your question live on an upcoming show and answer it personally. Who Do You Want To Hear From? Name some folks I should get on the show! Hit me up:[email protected] and I’ll do my best to get them on. Did You Get Your FREE Investing Guide? TEXT the word PROFIT (38470) to immediately sent Your FREE Investing Quick Start Guide! JOIN The Elite Real Estate Investor’s Board of Directors http://JoinMyMastermind.com Connect Here Please check out our website, realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.   And don’t forget to get involved with the REIP coaching program at realestateinvestingprofits.com/coachingapplication or click on the “Coaching” tab on our website!