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002: Finding Your Niche with Paul Moore

Paul Moore 2

After graduating with an engineering degree and then an MBA from Ohio State, Paul started on the management development track at Ford Motor Company in Detroit.

After five years, he departed to start a staffing company with a partner. They sold it to a publicly traded firm five years later. Along the way, Paul was Finalist for Ernst & Young’s Michigan Entrepreneur of the Year two years straight.

Paul later entered the real estate sector, where he completed over 85 real estate investments and exits, appeared on an HGTV Special Real Estate episode, rehabbed and managed rental properties, built a number of new homes, developed a waterfront subdivision, and started two successful online real estate marketing firms. Three successful developments, including assisting with development of a Hyatt hotel and a multifamily housing project, led him into this arena. Paul is married with four children.

Paul is the author of The Perfect Investment – Create Enduring Wealth from the Historic Shift to Multifamily Housing (2016).

Lightning Round

What was your biggest hurdle getting started in real estate investing, and how did you overcome it?

Lack of knowledge in construction.

Do you have a personal habit that contributes to your success?

1 hour morning ritual – meditate, pray, reflect.

Do you have an online resource that you find valuable? Hubspot

What book would you recommend to the listeners and why? Pitch Anything by  Oren Klaff

If you were to give advice to your 20 year old self to get started in real estate investing, what would it be?

To get involved in multifamily real estate and syndication as early as possible.

  Key Points

  1. Overcoming hardships and bad investments to building a successful real estate investing business.
  2. Class B value add multifamily properties.
  3. 2/3 of the success is the market and property management.
  4. Being careful to not overpaying just to get into a desired market.
  5. Base your decisions on what is in place already, and not speculation.

Future goals

Paul, through his partnership in Wellings Capital, hopes to purchase 2-4 multifamily properties per year over the next several years, and start a fund to acquire larger portfolio deals. Goal of 2,000 doors under management in the next 3 years.

Paul’s Reasons Why

Paul has realized that his life is not separated into buckets – family, work, faith, and non-profit – but rather all aspects of his life are intertwined and fit together for a purpose. Paul’s purpose is to generate a more passive wealth generation model. Paul, along with his partners in Wellings Capital, are actively fighting to thwart human trafficking and rescue its victims. Paul is passionate about fighting for human trafficking victims and supporting organizations that help those victims. Paul and his partners donate a large part of their personal profits to the cause, and hope to impact as many people as possible throughout their lifetime ad beyond.

Resources Mentioned

Hubspot is an inbound marketing and sales platform that helps companies attract visitors, convert leads, and close customers.

The Perfect Investment by Paul Moore

Pitch Anything by  Oren Klaff

Visit Audible for a free trail, and a free audio book download.

Interview Links

Wellings Capital

How to Lose Money podcast by Paul Moore and Josh Thomas

http://wadetmyers.com/

About the author, Jacob

Jacob Ayers is an entrepreneur, real estate investor, and constant learner of business, self-improvement, time management, real estate investing, and a myriad of other things.

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