Ritter on Real Estate Acquiring Assets From Mom & Pop Sellers With Paul Moore
Todays #RitterOnRealEstate guest is Paul Moore. After a stint at Ford Motor Company, Paul Moore co-founded a staffing firm where he was finalist for Michigan Entrepreneur of the Year two years straight.
After selling the staffing firm to a publicly traded company, Paul Moore began investing in real estate, founded multiple investment and development companies, appeared on HGTV, and eventually completed 85+ real estate Investments and exits, including a large multifamily development. He has contributed to Fox Business and is a regular contributor to Bigger-Pockets, producing live video and blog content regularly.
Paul also co-hosted a wealth-building podcast called How to Lose Money and he’s been a featured guest on 200+ podcasts. Paul is the author of The Perfect Investment – Create Enduring Wealth from the Historic Shift to Multifamily Housing and Storing Up Profits – Capitalize on America’s Obsession with Stuff by Investing in Self-Storage. Paul is the Founder and Managing Partner of Wellings Capital, a real estate private equity firm.
Key Points From This Episode:
- Stumbling into real estate in 2000 after working for Ford Motor Company and selling a staffing company.
- Early interests in real estate syndication.
- The importance of good margins when buying and selling deals.
- Acquiring assets from Mom & Pop sellers.
- The value-add opportunities that come with buying from Mom & Pop sellers.
- Undercapitalized and mismanaged deals.
- Why mobile home parks are underrated investments.
- Forced appreciation and why it's important when investing in real estate.
- The importance of time management.
Books Mentioned:
- Mastering the Market Cycle by Howard Marks
- The One Thing by Gary Keller
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Production by Outlier Audio