Paul was a finalist for Ernst & Young’s Michigan Entrepreneur of the Year two years straight. Paul later entered the real estate sector, where he completed 85 real estate investments and exits, appeared on an HGTV special, rehabbed and managed dozens of rental properties, developed a waterfront subdivision, and started two successful online real estate marketing firms.
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Paul is the managing director and co-founder of Wellings Capital, a commercial real estate investment fund. He has completed 85 real estate investments and exits, appeared on an HGTV special, rehabbed and managed dozens of rental properties, developed a waterfront subdivision and started two successful online marketing firms.
(00:50) – Paul tells us something interesting
- He is currently in central Virginia
- Sold his company in Detroit 22 years ago
- Has 4 kids
- He is involved in real estate investing as a fund manager
(1:25) – Paul explains his company Wellings Capital
- The Forbes 400 Wealthiest People in the World invest in commercial real estate- so many people are interested they just don’t know who to trust or how to get involved
- They vet out the best commercial real estate operators they can find and they put together a fund to allow people to invest small amounts of money ($50,000+)
(2:50) – Paul shares about ‘recession resistance’
- In bad times people are storing their items in storage space, in good times people are buying a lot of items and still they are storing them in storage spaces
- Mobile homes are the bottom of the ring on the housing train- but even if they can’t afford lot rent they’ll drive around and park somewhere else
(5:41) – Why Paul believes that entrepreneurs give up
- Everyone fails- but it depends on what you do with that failure that matters
- Sometimes it’s because they partner with the wrong person or they get bad advice
- Some give up too soon and some hold on too long
- “Know when to hold ‘em, know when to fold ‘em.”
(7:10) – Paul tells us when you should give up and when you should press on
- There was a story about a man who quit 4ft short of hitting the largest gold mine in Colorado- but if he had found a local and gotten good advice he would have succeeded
- Other people see failure and don’t pay attention but keep losing money when they should quit
- It all comes down to wisdom.
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(10:05) – What Paul is excited about right now
- But he’s excited because he’s found some ‘mom and pop’ deals that have a lot of potential for scaling
(12:07) – Paul explains how he has built the life he wanted to live
- His top priority is his family- and he’s learned that he needs to prioritize those things more
(14:19) – Paul Moore’s advice to entrepreneurs:
- Learn the difference between investing and speculating
Learn more about Paul:
- The Perfect Investment book on Amazon