Join Steve and Matt, with Paul Moore of Wellings Capital, as they talk about how he learns 'purpose' and finds joy in his career as a real estate investor. "I've learned a lot more from failure than I have from success."—Paul shares as he talks about his co-hosted podcast entitled: "How to Lose Money?" Here, Paul also talks about the true definition of wealth. For him, wealth comes from investing and not speculating. Today, tune in as Paul explains where joy comes from, how you can fashion self-storage and mobile home parks, and the issue he believes is worth fighting with everyone's resources. There's a lot to unpack, so stay tuned and enjoy the episode!
Outline of the episode:
● [02:13] Wouldn't it be great to talk about failures too?
● [06:38] "In my 30s, high energy, but not doing much…."
● [09:27] The other shoe dropped when the oil prices dropped by 70%.
● [11:39] From multifamily to mobile home parks to self-storage.
● [17:01] The amenities you can add to mobile home parks.
● [20:51] What else can you add to your self-storage facilities?
● [24:49] About: The Definitive Guide to Smith Mountain Lake Real Estate.
● [27:21] Human trafficking is an evil thing that's worth fighting with everyone's time, money, and effort.
● [30:19] Where does joy come from?
● [34:21] The difference between speculating and investing.
● [39:32] Do what's right for your investors and others, and put it ahead of profit.
● [41:34] On why you should consider not doing real estate on the side.
Resources:
● Website
● The Definitive Guide to Smith Mountain Lake Real Estate, Book by Paul Moore
● Mastering the Market Cycle: Getting the Odds on Your Side, Book by Howard Marks
Connect with The Cashflow Project!
● Website
● Youtube
The Cashflow Project
This is for busy professionals who are looking for financial freedom through passive income, with a focus on cashflow assets in Multifamily Real Estate. We will be covering a variety of topics such as buying, managing, and selling real estate assets, specifically apartments.
To learn more about us, visit tricityequity.com