CDL 39: From Riches To Rags To Riches With Paul Moore…

Cash Flow Dad Life

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So the big question is this, what would you do if money didn’t matter? So you had millions in your bank account, what would you focus on? Would you spend more time with your family, with your wife, with your kids? Take family vacations.

Would you pursue your gifts and talents and dreams? Serve your local community, teach others, serve your church. You see if what you would do if money didn’t matter, it was pursuing your gifts and talents and dreams to serve others, and that is probably what you should be doing.

The problem is most people are in the rat race, living five inches in front of their face with no time to pursue what they were born to do. That is the problem, and the solution is to develop enough passive income to replace your working income so you can quit your job and be free to live your life the way you were created to.

That is a solution and this podcast will show you how…

Hey, what’s up everybody? Welcome to another awesome episode of Cash Flow Dad Life.

today we’ve got on a really special guest. His name is Paul Moore and Paul is just an incredible, a real estate investor. He’s, he’s very involved in a lot of real estate niches. A, he was a special guest on HDTV. He’s rehabbed and managed dozens of rental properties.

Paul Moore Real Estate He’s completed 85 real estate investments and exits. He’s a major contributor on a and writer for bigger pockets, which is just like the biggest real estate forum in the world.

So I am extremely honored that he came to our podcast and he’s agreed to be a guest on our show…

So Paul, thank you so much for being here. I just want to make sure he can hear me. Alright… I’m glad to be here and I’m honored to have with the on the show.

So the first question I want to get to which is just so intriguing to me, is…you have a podcast and it’s called, How to Lose Money, right?

And the story behind that podcast is what I want to get you to share…it was a rags to riches to rags to riches story, right?

Paul Moore: A few more cycles in there as well.

Ryan Enk: Yeah. Can you share with us the story and don’t hold back from us any details on how that happened?

Paul Moore: Yeah. So my daughter Hannah and I, who’s my oldest, she’s 22, my oldest daughter of three daughters and I have a son that’s 25 and her and I would go to these father daughter retreats. We went to seven years in a row at callaway gardens in Georgia. And it was a beautiful setting. And the guys who were speaking were all dads.

They were all, you know, some of them really prolific leaders in this kind of this back to family movement that, you know, the way that we were part of at the time. And so for seven years in a row, we went to these conferences and I sensed around the table there were fathers and daughters around every table.

And I started realizing after like three years these dads left…

They’re encouraged in a way, but also discouraged and here’s why.

All the guys up front, all the speakers, all the panelists shared their great successes, all the great things they were doing, their family, how their daughters were married, they’re older daughters were marrying well and the younger daughters were, you know, reading a book a week or whatever, and then the guys around the table, we’re just kind of like shaking our heads going, man will never be.

…There, will never be a dad like that will never get to that kind of status. So why even try and I think people felt really discouraged. So at the end of each meeting I started writing these very detailed comment cards, you know, like, hey, you guys need to share your struggles.

You need to share your failures. You need to tell us what went wrong. And I actually got to know one of the speakers, families and their daughter said, told my daughter, man, they had all kinds of struggles and all kinds of problems, but you would never know that.

And that actually really encouraged me because I thought, “Oh well, I’m not alone…”

You know, and so that’s a long answer to say that what I want to start a podcast about two years ago I realized, you know, instead of just everybody coming on the podcast trumpeting all their successes, why don’t we talk about failures, pain, agony, setbacks loss and how those things built, the character and the structure needed to support the success that people are experiencing now.

And so that’s why we called it how to lose money…

Ryan Enk: That’s awesome. I just love that concept because so many people forget that and they get discouraged when they see everybody else’s successes…

If you look at like, I dunno, just look at the human body and the physical sense failure is the catalyst to any sort of growth that you go through. It’d be like looking at Arnold Schwarzenegger and just thinking, “Oh man, he’s gifted and I could never do that.”

But what you don’t see is the constant muscle failure he’s put his body through and the training and the grueling. You know, basically muscles only grow when they grow through failure and that’s just in the physical sense, but us as human persons like we grow once we go through these failures.

So tell us a little bit about your personal story. What are some of the worst things that have ever happened to you?

Paul Moore: Oh my gosh, that would take that much time. I think my worst and best real estate investment was one in the same. We were buying waterfront lot that Smith Mountain Lake in Virginia and it was 2004, five, six, seven.

The prices were running up like crazy and we, you could buy a lot clear the weeds and the brush and get a permit, you know, maybe put a park bench on it professionally, photographed it and sell it for $120,000 profit, you know, five months later.

property loans acres of landAnd so it was an incredible time. And my buddy Ted and I were doing that. Well, we bought a five acre lot that was on a private road that could not be subdivided yet. And we were assuming, well we heard that actually the road was going to be made public soon and that was very foolish to go on that hearsay.

And I had a friend who was pushing for the road to go public. He had the lot across the street. So we bought this five Acre Lot, had 500 feet of shoreline, 500 feet of road frontage, five acres at all. Three things that made it, you know, dividable into five one acre tracks.

Well this was about two years went by and we were paying interest on this $800,000 alone all this time and realized, you know, things are going south. It was late 2007. It was already obvious that something was going very, very wrong in real estate.

The lot sales had dried up, home sales had dried up, my income had dried up and my partner comes to me and goes, you know, “I can’t keep making this half interest payment. I’m out of here.”

So I found myself going from like one and a half million dollars in the bank 10 years earlier in [inaudible] 97 to two and a half million dollars in debt in 2007.

And so I actually was, I do a morning meditation ritual. I’ve done that for many, many years. And one morning I just had this idea, what would George Mueller do now? George Mueller is a hero of mine…

He lived through the 18 hundreds of England and he housed a total of 10,000 orphans over those many years. And these orphans had, you know, they, they had no hope, no place to go and he has these orphans and he took care of him in these large orphanage he built.

And he built these with absolutely no funding, no source of funding, no government help, no charitable help. He just really believed that if he had the right mindset and if you had faith that he will be able to have enough money to take care of these kids. And so he did.

And I thought, “what would George Mueller do?…”

…Well, first of all, he wouldn’t have been two and a half million dollars or even $1 in debt. But I’d already blown through that one. So I thought, what would he do if he was stuck in this place and I realized he would have been really generous.

He would been giving really, really generously, so I believe in the law of reaping and sowing or other people call it Karma. And so I actually told my family, I called my friends and family together and I said “Starting January first we’re going to give a set amount to charities that we are passionate about and a church we’re passionate about and we’re going to start giving the set amount every week as if we were making half a million dollars a year.”

So it’s going to be a lot of money we’re going to give and we’re just going to believe that this is going to turn out well now.

If it doesn’t, we’re in the same boat that we are now, which is facing bankruptcy…

If it does, we’ll have a great story to tell for years. And so four weeks into this, I met a guy at a subway restaurant and he was a real estate developer. I told him the quandary I was in. He goes, Huh? You want to try this, and it was a obscure law on the books that allows you to subdivide property with these really strict restrictions.

And I said, “Oh yeah, yeah, I thought of that, that, that won’t work for this because we got to subdivide it five times.” He said, “Well, look at it a little closer and at that moment a light bulb went off out of nowhere.”

And I realized, “Oh wow, there’s a way to do this.” So I met with my surveyor and the surveyor just shaking his head going, you can’t use this law that prohibits further subdividing to actually allow you to sub divide, but that is a pretty unique idea.

Paul Moore: So we went together. The next day I met with planning and zoning person in that county and the lady looks at me like, and she just kind of shakes her head. She goes, I can’t believe I’ve been here for decades.

I can’t believe you’re using this law to actually circumvent the actual purpose of this law, but you, you’ve done it and I can’t stop you and I’ll approve your five lot subdivision. Well, we went from two and a half million dollars in debt to completely debt free and 13 months.

So wow, that’s what happened…

We sold those lots in the very, very worst months of that great recession. September of 2008…

Ryan Enk: That is, that is an incredible testimony and that’s something that we actually haven’t talked about a whole on this show is giving, you know, and it’s, it’s one of the things that’s just kind of an underlying, like, you know, you just kind of assume that that’s something that is a part of what people do, but that’s an amazing testimony. And how that, that was a leap of faith on your part…

Paul Moore:I think it’s automatic. I don’t think people should go out and think that there’s a vending machine type thing, like you put in a thousand dollars and you get 10,000 back because I think that was meant to be at that time in that place and.

But I do really believe in the law of giving and receiving back. And I think it’s a universal law that holds true almost all the time. If you’re. Especially if your motives are right…

Ryan Enk: Yeah, you had to have a lot of faith to do that and that’s just amazing. And that’s a testimony to that. You know, it’s funny, it’s like a lot of financial authors, like famous authors that I’ve read like Mary Hunt and Robert Kiyosaki, they, oh, they all talk about that concept, but I think a lot of people read them. They just glaze over, like, “Yeah, yeah, I’ll get to the giving. Once I make money.”

It’s actually the reverse. You actually make money. The more that you give… So let’s rewind a little bit. How did you make your first one point 5 million? So what got you into real estate in the first place?

Paul Moore: Yeah, I actually made that without any real estate involvement. I got an Mba and then I went to Ford Motor Company for about five years. And um, I was always tinkering on the side with entrepreneurial ventures.

I wanted to start an oil change shop back in the eighties and other things. And Anyway, around 1993, uh, I broke away from Ford with another guy who got his mba at Ohio state also and who also was at four and we started in hr, human resource outsourcing firm and we just happened to be at the right place the right time.

We grew it and we sold it to a publicly traded company for two point $9 million…

The, you’re a 1997. So it was 21 years ago. And so that allowed me to put about a million and a half dollars in the bank. And you know, I made a lot of mistakes after that.

And I actually, in the 21 years since then, I’ve probably made more mistakes than I have successes because Ryan, I didn’t realize the difference between investing and speculating, you know, investing is when your principles generally safe and you can’t have a chance to make a profit.

And speculating is when your principal’s at risk and you have a chance to make a profit. And I did the, uh, speculating thing more times than I want to admit. And that’s been several stories I’ve had for my podcast. Believe me…

Ryan Enk: Yeah. So, so the land that you bought, you would consider that more of a speculation because you’re speculating on being able to flip that land?

Paul Moore: Oh, absolutely. It was speculating on all kinds of different things and it actually did work. Sometimes it does and some of the wealthiest people in the world are developers, but some of them are also delivering pizza right now.

Ryan Enk: And some of them, some of them go bankrupt because something doesn’t work. So tell me a little bit about after that, after you went past that whole strategy, what is the next thing that you did in real estate and what is your, what are you sinking into?

Paul Moore:Right now? Yeah. So in the year 2000, after a couple of years of so called semi retirement, by the way, if you’ve ever tried to retire in your thirties and you’re a high energy entrepreneur, just don’t do it. It was a terrible idea.

So it was some, some of the most miserable years of my life trying to figure out what my direction, what my purpose was.

It helped me realize now in my mid fifties that, you know, it’s just something I don’t have any desire to do. But that’s another story. Yeah. A friend of mine moved to town and he said he had a lot of experience with maintenance on apartments, so we decided to start buying houses on the courthouse steps, refurbishing them and selling them.

So we, I guess we were, you could say we’re doing house flipping before that term was ever invented.

money resale pricesPaul Moore:..I think we went to a seminar right after that and we realized, “Hey, we could probably make a lot more money, get a better resale price, and open this up to a lot of different buyers if we did lease options.”

So we started flipping houses with a rent to own lease option and they said that seminar, like 70 percent of people will never close…

They’ll walk away, but the house will generally be intact and you can raise the price and sell it again. And you know what, we needed it that 70 percent, you got to be kidding. We’re going to walk away from five or $10,000 or more now.

And then we found out an experience, it was more like 90 percent walked away. Well, my business partner actually had a guy walk away from $95,000 in equity. He had built up on a, on a very expensive rent to own, but at any rate…

…So we did that. And then we got into lease options, sandwiches and uh, that was really fun too though. They’re harder to pull off. They certainly are a great vehicle to build wealth. I think. So that’s how we got started in real estate.

Ryan Enk: Oh, awesome. That is a, that is tremendous. Those are fun strategies. So what are you doing right now? Your apartment complex is now. Are you…I think you mentioned storage before…

Paul Moore: So what happened is, I’m in, we, we flipped lots, we did a subdivision, uh, I started a residential website to generate leads for residential realtors in 2004.

…And I still have that today. That is a website that generates leads specifically for Smith Mountain Lake Realtors in Virginia, and then I sell the leads to seven different realtors we have on the team and um, so I’ve had that running all along, but around 2008 when things were going south and I was climbing out of debt there, I realized I wanted to get another skill.

So I actually went and spent two and a half years learning marketing copywriting and I really had fun with that. And as part of that, I ended up somehow stumbling into an oil and gas investment in North Dakota. And my buddy and I realized every time we flew there, he’s got a small jet. Every time we flew there, uh, we could never find a place to stay.

There were, there were cars and trucks mainly lining the sides of the roads were people who were sleeping in their cars during the oil boom. And So said, hey, we’re both involved in real estate. Why don’t we start something? So we built a hotel, quasi multifamily…

Some people call it a man camp, but it was much nicer than that. Trust me, we built this to house the oil workers who were, uh, up in the Balkan oil boom and we were charging a $129 a night, which was basically $4,000 a month for these furnished corporate rental, 300 square feet each.

Ryan Enk: Very nice.

Paul Moore: I mean there’s, you know, these were as nice as someone’s house but just real small and now we were staying full and we sold that in 2013 and I stayed on as the online marketing director until 2015. At the same time I realized I want to get back, I want to stay in multifamily.

So I started studying everything I could…

I actually joined a mentoring program, uh, and I, we started a company called wellings capital, which is a multifamily syndicator and Ryan, because we’re so conservative now because of all the mistakes we made in the past, we all decided the three partners, we’re not going to overpay for deals. We’re not going to overpay for multifamily.

And so honestly, we’ve been beating our head against the wall for several years trying to find deals that made sense and we bought, we bought very little and uh, because of that we decided this year to expand into self storage.

Paul Moore:…And so we’re raising money for self storage deals. We’re actually partnering with other operators on that and we’re having a great time doing it. That’s awesome. So how many of those have you executed a? We’ve done.

We just started that this year, which is 2018. And uh, we did two of those and we’re getting ready to do a third and hopefully a fourth by the end of the year…

Do you feel like multifamily is a little oversaturated? Is that why you haven’t been able to find a real good deal? You know, Ryan, I can’t decide if multifamily is in a bubble or if it’s just the new norm, but whichever it is, it’s not providing in general the type of returns that it had in the past and the type of returns that I would hope I could get from my investors in other arenas. So we are pushing sort of a pause button on multifamily right now.

Paul Moore: We still believe in it. I still believe in everything I wrote in my book about multifamily being a great investment, but we’re pushing sort of a pause and we’re going after self storage for awhile right now. What kind of Roi were you targeting with multifamily for your investors? Yeah, so the return for any commercial asset would be a four components.

We call it CAPT…which is Cash, it’s cash flow. A is appreciation. P is principal pay down. and then t is all the tax benefits and there are a lot of them. So we were going after this CAPT return and the CAPT the cash flow, we’re looking for eight to 11 percent per year. And then appreciation in principal pay down.

Paul Moore: We were hoping to get another eight to 10 percent a year. Of course that’s what leverage. And so you don’t have to get a ton of appreciation to get eight percent, you know, appreciation in equity.

So we were hoping to get a, you know, 18 to 22 percent return for the investors and it’s honestly more like most of the deals we see now are going to end up being more like a four or five percent return in the cashflow arena and another five percent and appreciation.

So we’re talking about 10, 12, maybe 13 percent total return. Honestly, you can do much better than that in other arenas right now…

Ryan Enk: Now. Yeah. And the, and the, and the existing market. Right. Okay. So that’s. Yeah, that’s, that’s a, I love those numbers. I, uh, I’m a real numbers nerd and I always say math makes money. So, you know, understanding those numbers and what the markets are currently doing and why you’ve made the transition.

I think that’s important for our listeners. If we could transition just a little bit, you know, if we could talk about the core of things, um, I always call it the, the why that makes you cry. You, you’re retired and your thirties.

You know, and you kept on pushing forward and you’re an entrepreneur. I’m sure you’ve had a lot of time. Now you’re in your fifties, a lot of time to really consider your purpose and we always talk about on the show.

In fact, the intro tag in the shoe show is what would you do if money didn’t matter? How would you serve the world? How would you serve your church, your communities? And so you’re at a point where money doesn’t matter.

Why, push forward with your real estate investing, what you chose that as a vehicle, and I’m sure you’ve got other things going on too, but why push forward to make money at this point?

human traffickingPaul Moore: Well, yeah, thanks for asking that. I really appreciate it. You know, I don’t know how much you’ve heard about human trafficking. A lot of people have heard about it in the last few years. It’s become a lot more well known, thankfully.

But when I heard about it, I watched a movie about three years ago called nefarious and it’s put out by a group called exodus cry out of Kansas City and that’s a group announced support.

But check this out if you took the record, and I don’t mean the average, I mean the record profits of apple, Nike, starbucks and General Motors added those together, doubled that.

That would be the approximate revenues generated by human trafficking right now in the world. I mean, think about that Ryan. It’s a staggering number.

And you know, I like to believe that if I was alive in the 18 hundreds, I would have been an abolitionists fighting against slavery…

And if I would have been an adult in the 19 sixties, I’d like to believe I would be fighting for civil rights. Well, this is a civil right. It is slavery and it is being a lives are being destroyed. Tens of millions of people are being a enslaved against their will and their being destroyed. And the effect…

Imagine if this was your daughter, uh, the effect on one girl, one child can be up to half a million dollars a year in revenue generated for her slave owner. That is just not okay.

And so I don’t want leave the world in that type of situation, so I’m dedicating the next many decades of my life to generating as much awareness and as much funding as I can to fight human trafficking and rescue it’s victims. And so that’s one of my big why’s.

Ryan Enk: No, I can’t think of a worst nightmare for a child or a parent and I’m thinking about my kids and trying to not get choked up. I can’t think of a worse nightmare to go through then that situation that has, that has got to be one of the, the, if not the first and the top three worst things that are happening in this world right now. So I’m familiar with some of the charities out there with it. Um, like our, our. Are there certain ones that you recommend?

Speaker 2:                        21:33                   Yeah, I mean I really would love to see people support exodus cry, exodus, cry.com, and they’re doing things to try to effect legislation. They’re trying to, they’re trying to raise awareness through films and the third thing they’re doing is they’re trying to help a rescue and rehabilitate victims. And so Exodus Cry is great. There are several others.

One is called Harvest Home, I think it’s https://harvesthome.org/ and it’s a beautiful ranch. It’s also happens to be near Kansas City and they, uh, are rehabilitating victims from other countries and other places, uh, to who have been through this horror. And so I’d really recommend those two.

Awesome. And so your main goal is to raise enough money to support these charities right now?

Paul Moore: Yeah. I really want to do that. One way I’m doing that is through an organization called Freedom Place Project. It’s freedom place project.com.

We’re not actually asking for any donations, but our plan Ryan is to build a billion dollar office complex in Dallas and we’re gonna use 100 percent of the developer prophets to fight trafficking and rescue victims.

And so we would think that the developer profits on a billion dollar office are estimated at about 12 and a half percent, so about, um, you know, a $125 million and we plan to use this office complex as a prototype to do many more. And so I’m on the board of that organization.

Again, it’s freedom place, project.com. If you want to learn more that we’re not asking for any donations, we’re just looking for a, you know, we’re actually looking for a CEO right now.

Ryan Enk: Well, I’ll ask for donations. I think that’s an amazing cause for people to get involved then. So one of my listeners get involved anyway can learn about it. Um, donate, give whatever you have. I mean we, we covered that early on in the show and giving you receive, you know…

So if there’s in way or there’s anything that you can get involved in any cause that is close to your heart, I don’t know how this cost can’t be close to anybody, anybody’s heart. Anybody who’s a father, a mother, you know, that, that, that has kids.

This is a cause of causes, so, um, thank you for sharing that with our audience and thank you for sharing that mission…it’s the why that will, that will certainly make you cry if you think about it long enough. But um, but that’s awesome.

Well, thank you so much, uh, for being on our show. Before we leave, I’m just a, a completely rough transition to something very emotional about back to real estate investing.

Before you leave, what if there is anything that you can share with our listeners over the past 20, 30 years of your experience, both as an entrepreneur, as a millionaire, a of, of losing it all and then gaining it all again? Um, if there is your one secret sauce, one source, one magic trick, you know, what, what would that be?

strategy investing speculationPaul Moore: You know, I already mentioned it, but I’m just going to hit it again and that will be to understand the difference between investing in speculating and um, honestly it’s fine to speculate. It really is and there’s a lot of money to be made there.

But just so you know the difference, just don’t kid yourself and think that you’re investing when you’re actually speculating, you know, a lot of us think that risk and return are proportional and that’s been spouted a lot, you know, so low risk, low return. And I think that’s true like cds, money markets, whatever, high risk, therefore high risk, high return, that’s not true.

It’s high risk, high potential return, but it’s equally high potential loss. And so I think people who were touting bitcoin going to a million dollars a coin, you know, just a year ago have found that, you know, there’s just, there’s no, it’s not wrong to invest in bitcoin…

I’m sure a lot of your listeners made money and I have a friend who became a millionaire through investing in that on the side. But the point is just realized, speculating doesn’t guarantee results.

Things like wholesaling homes or flipping homes or doing multifamily or other commercial real estate, you know, there’s a value attached to it because it has an income stream.

And if a product or as an, excuse me, an asset has an income stream, it has a verifiable value and therefore it shouldn’t have a principal that goes to zero as long as you’re being careful in your investment.

So that would be my number one piece of advice is don’t confuse speculating and investing…

Ryan Enk: Just to hammer home the idea and the concept to my listeners, can you give a three things that are in the category of speculation and three things you’d put in the category of investment?

Paul Moore: Yeah. So, um, let me just think of three things I’ve done in each. Uh, maybe so one would be a, I didn’t do Bitcoin, but I mentioned that already. Another would be, I mean, you know, penny stocks and I don’t mean every penny stock necessarily, but speculative stocks, you know, this company starts up and they’ve got a chance to, you know, go to a hundred fold overnight and they also had chance to go to zero.

You know, Warren Buffet says, “I generally don’t invest in high tech or internet type stocks because hey, in 10 years I have no idea what technology will have changed the landscape,” but I do know one thing he said Internet, “The Internet will never change the way people chew gum.”

And so I’m kind of following warns advice on that one. But, so, um, some speculative stocks, another thing would be most oil and gas, especially a exploratory wildcat wells and I invested in a very highly speculative oil and gas thing in the bucket of North Dakota…

…and actually lost, we lost all of our money because we weren’t investing in the tried and true, you know, horizontal drilling, fracking, that those guys were only making a 200 percent return over three years.

We want to make a 10,000 percent return or whatever. And the point is it was speculative and it never worked. So that’s three examples of speculation. I’m on the other side. Investing that would be, you know, investing in a proven business, you know, where like a self storage unit, it’s already throwing off, you know, 10 percent annual profits.

And there’s chances to grow it and add value and you know, go up to a 25 percent annual return. That’s very possible. A mobile home park, you know, they’re not the most exciting thing in the world and most investors have never lived in one or maybe don’t even know anybody in one, but they throw off generally eight to 12 percent annual return.

There are, there’s a diminishing supply of mobile home parks in the US and they’re a great investment for people who have tapped into that. In fact, my company is researching right now the possibility of investing in mobile homes along with self storage.

Paul Moore: And so a third one would be, you know, into a cash flowing duplex or wholesaling would be another thing that’s proven. I mean, if you can buy a house that’s worth $100,000 fixed up, if you can buy it for 60 and then flip it to somebody else for 80, well that’s a pretty good deal.

And I just sat in a room with about a hundred wholesalers a few weeks ago and these guys were crushing it and I don’t think they were really speculating because they had their systems down to where they could mail a certain number of postcards, answer a certain number of phone calls, and they will get a certain number of deals and they were crushing it and they were not losing money.

So I don’t know what you think of that, but that’s, that’s what, uh, those were some things I think…

Ryan Enk: Yeah, no, I’ve got vast experience losing money on speculating a different, different businesses and different deals. But wholesaling is one of those things. Anytime you can look at something and you have a, what we call the Business World Kpis, key processing indicators where you can look at the numbers and say, I know that if I’m going to invest x dollars into this, that I’m going to get this return. You know, and you’ve got your ranges there.

So, you know, markets do fluctuate in different areas. So, uh, but people who are good wholesalers, they understand, they got their finger on the pulse of the market and one of the great things about wholesaling is you never actually take the risk with owning the property. You just get it under contract, sell it to someone else.

So yeah, I would, I would definitely, uh, I put that in the category of investing. Whereas I’d, I’d put flipping houses in the category of speculating because even though it’s a, it’s a tried and true system, you have 2008 rules through and markets crash.

So, you know, there’s some things that kind of border on those lines as I’ve bought land in Mississippi on the water. And uh, and then that was before the hurricane hit and then it mowed down all of Mississippi and it was worth $34,000 when I bought it was worth $5,000 five years later.

That was a speculation…

Paul Moore: But well, I think most land is highly speculative. Not all, but most now my son’s buying it in a way that’s more of an investment. He actually is able to verify the value of the timber and the, the potential subdivides things before he buys land.

And so he’s doing pretty well with that, but I mean if he was just counting on splitting it and selling it off as lots, that’d be speculation because we all know that those lots may not sell and it’s one of those things where, uh, I think you’d probably agree you only risk what you, uh, what you’re willing to lose. So there’s nothing wrong with speculating every now and then, but only if it’s play money…

Ryan Enk: So awesome. We had a guy tell me it don’t ever invest in a speculative deal like oil and gas, unless you’re equally willing to watch that money go up in smoke as kindling in your fireplace.

And I thought that was an odd thing to say for a guy raising money for oil and gas, but years later, no, I understand it. Right. You got a deeper understanding. All right. Well thank you so much Paul. I really appreciate you coming on the show and sharing your story with us.

there are two main problems people must overcome faith christianThank you for sharing the concept of, of how your story as testimony to what giving can do for you. And uh, thanks for sharing with us that caused to you. You’ve got to be a deeply devout Christian man to, uh, to have that kind of faith and to have that kind of cause you figured it out. Yeah.

You know, you know, it’s uh, you know, unlock the code you, you notice sometimes, but um, listen to what resources can you mention again, some of those links, both the resources for the charities and the resources that anybody can learn more about some of the pockets.

Paul Moore: Sure. So they can go find my blogs all over bigger pockets. I’m also doing live events for them. I did one yesterday on an airbnb strategy to allow people to make thousands of dollars in their spare time literally.

So I’m all over bigger pockets. I also have a website called wellings capital.com. And I can also be reached at howtolosemoney.com, which is our podcast website…

You can find my book on Amazon. It’s called The Perfect Investment and it’s a multifamily, a book promoting multifamily investing.

Ryan Enk: Perfect. Thank you Paul. I appreciate it. Paul Moore. Everybody go check him out. Check out those links. And uh, thanks again for, for coming on the show.

Paul Moore:Thanks Ryan. It was great. Great honor to be here, my friend.

Ryan Enk: Thank you.

Thanks for listening. Please remember to rate and subscribe. You’re going to want to listen to every episode as soon as it comes out. It hasn’t been an idea or strategy that can literally change your life.

Listen, don’t miss out on the free investor pools that I have on my website https://cashflowdadlife.com/. So go to https://cashflowdadlife.com/ gets a free swag and lists and hit me up. If you want to talk about how we can get you out of the rat race as soon as possible. Until next time. My name is Ryan Enk and this was Cash Flow Dad Life!

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