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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 sold it to a publicly traded firm five years later for $2.9 million. Along the way, Paul was Finalist for Ernst & Young’s Michigan Entrepreneur of the Year two years straight (1996 & 1997). Paul later entered the real estate sector, where he flipped over 50 homes and 25 high-end waterfront lots, appeared on HGTV’s House Hunters, rehabbed and managed rental properties, built a number of new homes, developed a subdivision, and started two successful online real estate marketing firms.
Three successful developments, including assisting with the development of a Hyatt hotel and a very successful multifamily project, led him to start Wellings Capital. Paul is the author of The Perfect Investment – Create Enduring Wealth from the Historic Shift to Multifamily Housing (2016). Paul also co-hosts a wealth-building podcast called How to Lose Money, is a featured guest on numerous real estate podcasts, and is a regular author for Bigger Pockets. Paul is married with 4 children and lives in Central Virginia.
1. The secrets used by the super-wealthy to attain and maintain their wealth over generations (and why you’re not invited to their party).
2. My real estate experience which include flips, subdivision development, multifamily, hotels, waterfront lot flips, a residential real estate marketing firm, and more.
3. My riches to rags and back story. How I went from $1.5M in the bank to $2.5M in debt and back to debt-free 13 months later…by giving my way out of debt.
4. How multifamily investors “partner" with the IRS to reap significant profits while paying virtually no taxes. (Your CPA may not know these tax codes, but you need to!)
5. How I you set up my company to generate funding to fight human trafficking and rescue its victims.
6. Why it is so important for investors, entrepreneurs, and executives to find their "big why".
7. Why I call my podcast How To Lose Money
1. You went from $2 million in the bank to $2.5 million in debt a decade later during the recession. How did you end up debt-free 13 months later? (I "gave" my way out of debt.)
2. Tell us about your Big Why, and why everyone needs to have one.
3. After a life as a serial entrepreneur, starting 20+ businesses in as many years, why did you end up devoting your life to multifamily investing?
4. You named your book "The Perfect Investment." You told me offline that there are times when the perfect investment isn't really perfect at all. Why would you say that?
5. How do multifamily investors “partner" with the IRS to reap significant profits while paying virtually no taxes?
6. (Let's have some fun on the show...) You are a prolific writer for BiggerPockets.com, the world's premier real estate investor website. I read a few of your articles, and you seem obsessed with semi-boneless ham. What's the story on that?
7. How and why did you get involved in fighting human trafficking and rescuing its victims?
I have been on over 35 podcasts. See past podcast episodes here: https://www.wellingscapital.com/interviews
See articles I wrote featured on BiggerPockets, the world's premier real estate investor website with over 1 million subscribers:
I will promote podcasts through our email list, Twitter, Facebook, on our company website, and blog posts.