Is there such thing as a “perfect investment?” According to today’s guest, yes. Today on the BiggerPockets Podcast we sit down with Paul Moore, a real estate investor whose 18-year journey through real estate has included house flipping, new construction, hotels, and finally—multifamily. In this episode, Paul shares three powerful reasons why multifamily might just be the most perfect real estate investment. You’ll learn how Paul discovered the vital difference between investing and speculating, why falling in love (with a deal) is incredibly dangerous, and the huge real estate gamble that Paul made that cost him $40,000. If you plan to eventually buy small multifamily properties, this is one podcast episode you can’t miss!
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In This Episode We Cover:
- Paul’s history and how he got into real estate
- Bought a house for $34,000—painted it, and sold it for $65,000
- Never fall in love with a deal
- From two failed flips to 50 successful ones!
- The difference between gambling and investing
- How he built a Hyatt hotel with a partner and lost money
- Some reason behind the dropping of homeownership
- Why he thinks multifamily properties are perfect investments
- How he looked at 180 deals this year
- He sold an HR company in ’97 for almost $3 million. Ten years later he was 2.5 million in debt.
- How he was able to end up debt free 13 months later
- Financing an $8.7 million multifamily property
- What is a green loan program?
- The journey to a syndication process
- How he’s been able to write a book, have a podcast, and write for BiggerPockets
- Networking through BiggerPockets
- And SO much more!
Links from the Show
Books Mentioned in this Show
Fire Round Questions
- “Every percent drop in home ownership means a million new people in the renter pool.” (Tweet This!)
- “When baby boomers rent, they never return to buying again.” (Tweet This!)
- “Don’t fall in love with a deal.” (Tweet This!)
- “Wealth built up slowly over time is the key to become successful.” (Tweet This!)