E234 Paul Moore - How to Build a Self-Storage Empire, Source Deals and Strategize for Success
Paul Moore is the Founder and Managing Partner of Wellings Capital. After graduating with an engineering degree and then an MBA from Ohio State, Paul entered the management development track at Ford Motor Company in Detroit. After five years, he departed to start a staffing company with a partner. They scaled and sold the company to a publicly traded firm five years later. After a brief “retirement” in his early 30s, Paul began investing in real estate in 2000 to protect and grow his own wealth.
Tyler and Paul’s discussion focused on the open playing field that is self-storage, covering its many perks as well as acquisition strategies and mindsets for success.
Highlights include:
How Paul sources so many high-quality self-storage deals
Paul’s list of potential self-storage value-add opportunities, including how you can leverage U-Haul for $1,000 - $5,000 in monthly commissions
How to manage self-storage assets and the case for full automation
Why dislocation has boosted the self-storage industry
Paul's seven paths to get involved in commercial real estate
The best way to raise capital and stay in the right mindset
Investing versus speculation
The importance of focusing on only one thing
Connect with Paul:
Website: http://www.wellingscapital.com/resources
LinkedIn: https://www.linkedin.com/in/paul-moore-3255924/
The following books were mentioned in the show:
Storing Up Profits by Paul Moore
The Hands Off Investor by Brian Burke
Listen to Paul’s first episode on Elevate:
https://elevatepod.com/episodes/episode-33
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