Ritter on Real Estate The Art of Picking Top-Tier Operators ft. Paul Moore
Oct 20, 2025
35:05
On this week’s episode, Kent is joined by Paul Moore. Paul shares his unconventional journey from Ford Motor Company to building and selling a business, before discovering his passion for real estate and eventually founding Wellings Capital. He breaks down how his firm evaluates hundreds of operators to find only the best opportunities, why diversification across asset types and capital stack is key, and how to spot “intrinsic value” in deals that others overlook. Paul also explains the role of preferred equity in today’s market and highlights the importance of focus, integrity, and learning from past mistakes.
Where to find Paul:
- https://www.wellingscapital.com
- https://www.linkedin.com/in/paul-moore-3255924
- https://www.linkedin.com/company/wellings-capital-llc
- https://www.facebook.com/wellingscapital
Key Takeaways
- Don’t chase speculation; focus on durable asset types and strong operators.
- Diversification across sponsors, geographies, and the capital stack reduces risk.
- The best investors say “no” far more often than they say “yes.”
- Look for intrinsic value—hidden opportunities to add income and increase property value.
- Preferred equity offers safer positioning in the capital stack with steady returns.
- Character matters: how an operator treats others often predicts how they’ll treat investors.
Books mentioned
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Production by Outlier Audio