In this insightful episode, we reconnect with Paul Moore, the force behind Welling’s Capital and a long-time friend. He shares his journey from writing “The Perfect Investment” to recognizing the need for a robust acquisition strategy in multifamily investing. Paul details his team’s expansion into various asset classes like self-storage, mobile home parks, RV parks, and more, ultimately transitioning into a fund manager role.
Paul explains preferred equity, generating significant investor interest. He breaks down the capital stack, illustrating how preferred equity fits between senior debt and common equity, providing immediate cash flow, future upside, and payment priority over common equity. Emphasizing due diligence, he highlights unique opportunities in preferred equity, especially in the current economic climate with tightened traditional lending.
Delving into the world of RV parks, an asset class seeing tremendous growth, Paul categorizes them into four types: overnight, extended stay, workforce housing, and destination parks. He points out the profitability potential of each type, focusing on destination parks with a range of amenities and activities.
Listeners gain a deeper understanding of real estate investing nuances, preferred equity benefits, and the burgeoning RV park market. For more information on Paul’s work or exploring investment opportunities with Welling’s Capital, visit wellingscapital.com or follow Paul on Twitter at @PaulMooreInvest.
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About Paul Moore:
Paul Moore is the Founder and Managing Partner of Wellings Capital. He oversees a diverse portfolio of 17k+ self-storage, manufactured housing, and multifamily units. With an engineering degree and MBA from Ohio State, Paul has 85+ REIs and exits. He has also appeared on HGTV and developed a Hyatt hotel. His focus has been on commercial real estate since 2011.
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