Flipping houses led to flipping waterfront lots which led Paul Moore to commercial real estate which then led to real estate fund management.
What’s your story?
I sold my company to a publicly traded firm in 1997. I moved to the Blue Ridge Mountains and eventually got into house flipping then flipping waterfront lots at a resort lake. Eventually, I got into commercial real estate and now I am a commercial real estate fund manager with Wellings Capital.
What excites you most about your industry?
Many people know about the powerful wealth building opportunities in commercial real estate but most people don’t know how to get involved or who to trust and where to start. We give people an on-ramp into the commercial real estate investment world and give them a chance to be a part of a diversified group of recession resistant assets.
What drives you in business to push beyond what other people consider normal?
I have a podcast called How to Lose Money and we interviewed about 240 people about their pain in losses and I have seen a lot of pain and I have experienced my own. I want to provide people with a recession resistant opportunity to build wealth and help them avoid the pain of bad decisions.
What have been the most useful skills you have learnt and applied in your journey?
Learning the difference between investing and speculating. Investing is when your principal is generally safe and you have a chance to make a return. However speculating is when your principal is not at all safe, and you have a chance to make a return. The speculators often make it big but 100 times more probably lose their money.
What’s the best piece of advice you ever received?
Keeping my word even when it hurts. The ancient writings of Proverbs tell us to keep your word even if it hurts and my dad taught me that and lived it. As a result, he lost some battles along the way but he won the big war of his life and in his business in a big way in the end.
Who inspires you?
Gary Keller, the founder of the world’s largest real estate firm, Keller Williams. He inspires me to say no to 10,000 potential distractions so I can say yes to one thing. His book, The One Thing, written along with Jay Papasan has been quite inspirational to me.
What have you learnt recently that blew you away?
I have learned that the bonus depreciation provisions in the 2017 U.S. tax law provide really powerful incentives for real estate investors and can result in them paying very little to no tax. I am learning a deeper level of how powerful that strategy is.
If you had your time again, what would you do differently?
If I was in my early 20s, I would have jumped straight into commercial real estate from day one. I think I would be way ahead of where I am now in my mid 50s.
How do you unwind?
Spending time with family and meditation and journaling which I try to do daily.
What is a major mindset change, belief shift or ‘ah ha’ moment that you’ve experienced in relation to your business?
I have learned that if you have a fantastic product and if you are a good writer or communicator, people will come to you. I don’t have to go out and chase investors, they come to us. That is a wonderful mindset shift and makes life a lot easier for everybody.
Everyone in business should read this book:
The book would be “Love Does” by Bob Goff. It’s a New York Times best selling book. Love Does teaches us to love our friends and our enemies and to care for the world around us by putting others first. It has motivated me so much.
Shameless plug for your business:
People who want to invest in U.S. recession resistant commercial real estate but don’t know where to start should reach out to us. We provide a diversified fund that allows investors to invest just $50,000 and be part of a very large portfolio they couldn’t access otherwise. This is for accredited investors only.
How can people connect with you?
Go to our website: https://www.wellingscapital.com/
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