{"id":5252,"date":"2018-08-04T07:00:00","date_gmt":"2018-08-04T14:00:00","guid":{"rendered":"https:\/\/moneyripples.com\/?p=5252"},"modified":"2022-08-14T08:08:52","modified_gmt":"2022-08-14T15:08:52","slug":"invest-like-the-super-wealthy-221","status":"publish","type":"post","link":"https:\/\/moneyripples.com\/money-ripples-st\/?p=5252","title":{"rendered":"Invest Like The Super Wealthy &#8211; 221"},"content":{"rendered":"<p>What kind of investments do the super-wealthy invest in?<\/p>\n<p>What are some ways you can &#8220;partner&#8221; with the IRS, and get the tax advantages as an investor?<\/p>\n<p>Join Cash Flow Expert &amp; Anti-Financial Advisor, Chris Miles, as he talks with Paul Moore of Wellings Capital about what are some great investments right now, and how you can get some tax breaks.<\/p>\n<p>Tune in now!<\/p>\n<p style=\"text-align: center;\">&#8212;<\/p>\n<p><strong>Paul Moore Bio<\/strong><\/p>\n<p>After working for Ford, Paul later entered the real estate sector, where he flipped over 50 homes and 25 high-end waterfront lots, appeared on HGTV\u2019s 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 into the commercial multifamily arena. Paul is an author and co-hosts a wealth-building podcast called How to Lose Money, and is a regular author for Bigger Pockets. Paul is married with 4 children and lives in Central Virginia.<\/p>\n<p><strong>Chris Miles Bio<\/strong><\/p>\n<p>Chris Miles, the &#8220;Cash Flow Expert,&#8221; is a leading authority on how to quickly free up and create cash flow for thousands of his clients, entrepreneurs, and others internationally! He\u2019s an author, speaker, and radio host that has been featured in US News, CNN Money, Bankrate, Entrepreneur on Fire, and has spoken to thousands getting them fast financial results.<\/p>\n<p style=\"text-align: center;\">&#8212;<\/p>\n<p>&nbsp;<\/p>\n<h3>Listen to the podcast here<\/h3>\n<p><iframe src=\"\/\/percolate.blogtalkradio.com\/offsiteplayer?hostId=709401&amp;episodeId=10914761\" width=\"100%\" height=\"180px\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><br \/>\n&nbsp;<\/p>\n<h2>Invest Like The Super Wealthy<\/h2>\n<p><strong>In this episode, I want to bring on a special guest here, <\/strong><a href=\"https:\/\/www.wellingscapital.com\/\" target=\"_blank\" rel=\"noopener\"><strong>Paul Moore<\/strong><\/a><strong>. One thing that\u2019s amazing about him is that he graduated with an Engineering degree and an MBA from Ohio State, but he started on this management track at Ford Motor Company in Detroit. After several years, he left that and started a staffing company with a partner. They sold it to a publicly traded firm for $2.9 million five years later.<\/strong><\/p>\n<p><strong>Along the way, Paul was a finalist for the Ernst and Young Michigan Entrepreneur of the Year for two years straight. He later entered the real estate sector, where he completed 85 real estate investments and exits. He appeared on HGTV special real estate episode, rehabbed and managed dozens of rental properties, developed a waterfront subdivision, and started two successful online real estate marketing firms. <\/strong><\/p>\n<p><strong>Three successful developments, including assisting and developing a Hyatt Hotel in a multifamily housing project, led him into the multifamily investing arena. He\u2019s also a cohost of his podcast, which is <\/strong><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/how-to-lose-money\/id1170805348\" target=\"_blank\" rel=\"noopener\"><strong>How to Lose Money<\/strong><\/a><strong>, and a writer for <\/strong><a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/paulmoore\" target=\"_blank\" rel=\"noopener\"><strong>BiggerPockets<\/strong><\/a><strong>. He is the author of <\/strong><a href=\"https:\/\/www.amazon.com\/dp\/153700395X\/ref=cm_sw_em_r_mt_dp_U_AoqlEb79Q3C8R\" target=\"_blank\" rel=\"noopener\"><strong><em>The Perfect Investment: Creating Enduring Wealth from the Historic Shift to Multifamily Housing<\/em><\/strong><\/a><strong> book. <\/strong><\/p>\n<p style=\"text-align: center;\">&#8212;<\/p>\n<p><strong>I\u2019m grateful to have you on, <\/strong><a href=\"https:\/\/www.wellingscapital.com\/\" target=\"_blank\" rel=\"noopener\"><strong>Paul<\/strong><\/a><strong>. Welcome to our show. <\/strong><\/p>\n<p>It\u2019s great to be on, Chris. Thank you so much. I love your show, and I\u2019m excited to be here.<\/p>\n<p><strong>I love some of the topics that we have. I want to talk about, from your angle, how the real ultra-wealthy attain wealth, especially how people can start partnering with the IRS. I\u2019m thrilled to be able to talk to you about that.<\/strong><\/p>\n<p>You don\u2019t want to do something like that.<\/p>\n<p><strong>If it means I pay less, I don\u2019t care. I\u2019m sure my readers are in tax brackets like myself, which are not low tax brackets. We\u2019re all about tax savings too. Beyond your bio here, tell us more about you. What got you to do this? <\/strong><\/p>\n<p>I made many mistakes over the years. I\u2019ve got a podcast called <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/how-to-lose-money\/id1170805348\" target=\"_blank\" rel=\"noopener\">How to Lose Money<\/a>. I used to confuse investing with speculating. I thought I was investing for years. I would tell people I\u2019m an investor. I was gambling. Investing is when your principal is generally safe, and you\u2019ve got a chance to make a profit. Speculating is when your principal is not at all safe, and you\u2019ve got a chance to make a profit.<\/p>\n<p>I made a lot of profit doing that, but I made a lot of huge mistakes. I lost a whole lot of money. I didn\u2019t want to do it anymore, so I was looking for something I could do, which is Class B value-add multifamily and now storage units. I don\u2019t want to do any more ground-up development. When I\u2019m in my 50s, I\u2019ve lost enough money. I don\u2019t want to look my family, myself, and my investors in the eye and say sorry for years. I wanted to do something that was a lot safer. That\u2019s how I got started in this in the last several years.<\/p>\n<p><strong>One thing that is cool is a lot of our readers are entrepreneurs, but there are also a lot of them that are either doing real estate or interested in doing real estate too. What\u2019s been your experience? What did you do specifically that took you from that gambler to that investor or speculator to that investor category? <\/strong><\/p>\n<p>There is a lot of stuff I\u2019m skipping over here, but around 2010, a lot of people started hearing about the Bakken oil boom in North Dakota. I had a petroleum engineering background before I got my MBA, and I\u2019d never used it. I always wanted to. I thought, \u201cReal estate is down right now. I was depressed with real estate, and I think I\u2019ll go invest in an oil well.\u201d It was a little more thoughtful than that, but we did. A bunch of us jumped in on this well, and we lost our money.<\/p>\n<p>That\u2019s talking about speculation. What great tax benefits it was as we lost all that money. I realized and my partner, who had a small jet, would fly there, and he couldn\u2019t ever find a place to stay in North Dakota. There were trucks parked all on the side of the road and the rest stops, etc. We said, \u201cWe\u2019re both involved in real estate development. Why don\u2019t we build a man camp or quasi-hotel multifamily and serve this oil region here?\u201d We did.<\/p>\n<span class='bctt-click-to-tweet'><span class='bctt-ctt-text'><a href=\"https:\/\/twitter.com\/intent\/tweet?url=https%3A%2F%2Fmoneyripples.com%2Fmoney-ripples-st%2F%3Fp%3D5252&#038;text=If%20you%E2%80%99re%20investing%20with%20the%20right%20syndicator%2C%20sponsor%2C%20or%20commercial%20real%20estate%20investor%2C%20you%E2%80%99re%20part%20of%20an%20LLC%20that%20owns%20that%20entity%20where%20you%20get%20the%20most%20benefits.&#038;related\" target=\"_blank\" rel=\"noopener noreferrer\">If you\u2019re investing with the right syndicator, sponsor, or commercial real estate investor, you\u2019re part of an LLC that owns that entity where you get the most benefits. <\/a><\/span><a href=\"https:\/\/twitter.com\/intent\/tweet?url=https%3A%2F%2Fmoneyripples.com%2Fmoney-ripples-st%2F%3Fp%3D5252&#038;text=If%20you%E2%80%99re%20investing%20with%20the%20right%20syndicator%2C%20sponsor%2C%20or%20commercial%20real%20estate%20investor%2C%20you%E2%80%99re%20part%20of%20an%20LLC%20that%20owns%20that%20entity%20where%20you%20get%20the%20most%20benefits.&#038;related\" target=\"_blank\" class=\"bctt-ctt-btn\" rel=\"noopener noreferrer\">Share on X<\/a><\/span>\n<p>We were charging thirteen times the going rate in the heartland of America, which is roughly $1 a square foot for rental real estate. The $800 apartment might be 800 square feet. We were charging $4,000 a month for a 300-square foot, nicely furnished apartment, and we were full. That was ground-up speculation that went well. Oil prices dropped from the 90s to the 30s, and we sold that for a nice profit. We took that money, and we were already way underway at this point when oil prices dropped to build a beautiful Hyatt Hotel, also in oil country. It was dependent on the oil revenues and the oil people being there to drill wells and all that.<\/p>\n<p>That did not go well. I realized, \u201cI want to be in multifamily. I know I want to be in commercial real estate because that\u2019s where the real wealthy play, but I don\u2019t want to do it with oil.\u201d That\u2019s when we decided to get into the value add space. My goal overall, Chris, was to stop swinging for the fences, stop trying to hit home runs, and start hitting singles and doubles.<\/p>\n<p><strong>I always tell people the ambition of my 20s cut up to me in my 30s. It leads to the question I had mentioned earlier, which is how do you see the super-wealthy attaining wealth?<\/strong><\/p>\n<p>A lot of the super wealthy now are attaining wealth through tech-related businesses. If you look at the Forbes 400, that\u2019s number one. Real estate has dropped a second, but a whole lot. I don\u2019t know if it\u2019s 90%, but it\u2019s a whole lot of the people on that list and other wealthy folks have real estate and use real estate to maintain and perpetuate their wealth.<\/p>\n<p>The super-wealthy get into opportunities that most of the rest of us have never even heard of or have the opportunity to get into things like a commercial. In the old days, it would have been investing in a mall, and now it might be a hotel, large-scale multifamily, or large-scale storage unit. The average investor is not getting access to this, and the wealthy are happy about that because they are.<\/p>\n<p>There are tremendous barriers to entry to keep somebody who\u2019s flipping 1, 2, or 3 houses at a time to keep them out of getting to that big level of 100 unit apartment. You have to convince the seller, broker, lender, investors, and many people that you\u2019re credible. As the old advertisement said, \u201cHow do I get credible if I don\u2019t have any experience?\u201d It\u2019s hard, and the super wealthy are keeping it that way. I don\u2019t think it\u2019s intentional, certainly, but it\u2019s a great benefit of having access to large capital. You can get access to deals that have tremendous returns and are safe and stable overall.<\/p>\n<p><strong>It\u2019s funny when you mentioned that because a lot of people either don\u2019t know they exist or don\u2019t even believe that those kinds of opportunities exist. That might have been the number one reason why the wealthy keep getting wealthier. I\u2019ll run people all the time. People have a couple of million sitting in 401(k), IRAs, and things like that. They\u2019ll say, \u201cI don\u2019t trust the stock market, but is there anything that could be better?.\u201d I laugh because I\u2019m thinking, \u201cThe stock market is a joke. It\u2019s not that impressive at all compared to what\u2019s out there right now.\u201d<\/strong><\/p>\n<p>That\u2019s exactly how I see it. I haven\u2019t had money in stocks in a long time, except for that swing for the fence that I still get the little statement on that says, \u201cZero.\u201d I guess it\u2019s still registered as a stockholder. I don\u2019t know.<\/p>\n<p><strong>Get 0% of zero. That\u2019s awesome.<\/strong><\/p>\n<div id=\"attachment_5254\" style=\"width: 610px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" aria-describedby=\"caption-attachment-5254\" class=\"size-full wp-image-5254\" src=\"https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052701\/Graphics-Caption-1-MORI-221-Invest-Like-the-Super-Wealthy.jpg\" alt=\"MORI 221 | Super Wealthy\" width=\"600\" height=\"400\"><p id=\"caption-attachment-5254\" class=\"wp-caption-text\">Super Wealthy: Investing is when your principal is generally safe, and you have a chance to make a profit. Speculating is when you have a chance to make a profit, yet your principal is not safe.<\/p><\/div>\n<p>&nbsp;<\/p>\n<p>It\u2019s beautiful.<\/p>\n<p><strong>How would people get access to things like this? I have different resources, but what do you recommend to people if they want to get access to the things that the wealthy have access to, whether they\u2019re accredited investors or not?<\/strong><\/p>\n<p>One way, especially for folks who are not accredited, is to get involved with crowdfunding. I was a little skeptical about this. My book, which is called <a href=\"https:\/\/www.amazon.com\/dp\/153700395X\/ref=cm_sw_em_r_mt_dp_U_AoqlEb79Q3C8R\" target=\"_blank\" rel=\"noopener\"><em>The Perfect Investment<\/em><\/a><em>,<\/em> is about multifamily. I was a little down on crowdfunding, but I\u2019m a little warmed up to it now. I think that is one way to do it. Another way is to become a fractional owner of the property you\u2019re investing in by investing directly in syndication. Syndication is when a sponsor pulls together a lot of individual investors, goes in together, and operates the deal that way.<\/p>\n<p><strong>For those of you that aren\u2019t familiar with that, it\u2019s a small version of a mutual fund. It\u2019s a much more private version, where you\u2019re going in with different partners. Do you have resources for yourself that you refer people to for that?<\/strong><\/p>\n<p>For syndication, it\u2019s a hard time to find any deals because it\u2019s overheated, as we recorded this in the summer of 2018. My company does that. There are a lot of great companies that are syndicators, and you can find someone with some careful research on BiggerPockets and other locations. There are several podcasts that have great syndication opportunities, <a href=\"https:\/\/jakeandgino.com\/category\/multifamily-real-estate-investing-podcasts\/\" target=\"_blank\" rel=\"noopener\">Jake and Gino<\/a>, <a href=\"https:\/\/reedgoossens.com\/podcast-investing-in-the-u-s\/\" target=\"_blank\" rel=\"noopener\">Reed Goossens<\/a>, and my company. There are self-storage deals that we are starting to learn more about and starting to like. As far as crowdfunding, they\u2019re all over the place. I couldn\u2019t recommend one specifically because I\u2019ve heard good and bad about several. <a href=\"https:\/\/www.realtymogul.com\/\" target=\"_blank\" rel=\"noopener\">RealtyMogul<\/a>, <a href=\"https:\/\/www.realtyshares.com\/\" target=\"_blank\" rel=\"noopener\">RealtyShares<\/a>, <a href=\"https:\/\/fundrise.com\/\" target=\"_blank\" rel=\"noopener\">Fundrise<\/a>, and things like that are apparently pretty popular with people.<\/p>\n<p><strong>If you\u2019re non-accredited and you\u2019re starting out, that\u2019s someplace you can go to. <\/strong><\/p>\n<p>Within those portals, there are accredited and non-accredited deals.<\/p>\n<p><strong>Let\u2019s get into the next segment of this show. Talk about partnering with the IRS because most of us are not humongous fans of the IRS. My wife spent an hour waiting on hold for the IRS for something that was useless. How can we use this to our advantage versus our disadvantage? <\/strong><\/p>\n<p>I was audited by the IRS, and it was completely random in 2001 or 2002. It was a year when I had flipped a whole bunch of houses. I had tons of money moving in and out, and it took six months. It was only three-hour meetings at a time, once a month. At any rate, it was a hassle, and they found, I hate to say it, $152 that they thought maybe misclassified. I paid my CPA thousands of dollars to help me with that audit.<\/p>\n<span class='bctt-click-to-tweet'><span class='bctt-ctt-text'><a href=\"https:\/\/twitter.com\/intent\/tweet?url=https%3A%2F%2Fmoneyripples.com%2Fmoney-ripples-st%2F%3Fp%3D5252&#038;text=If%20a%20commercial%20property%20is%20refinanced%2C%20the%20capital%20is%20returned.%20There%20is%20no%20tax%20on%20that.%20When%20money%20is%20handed%20back%20to%20you%2C%20you%20can%20take%20reinvest%20it.&#038;related\" target=\"_blank\" rel=\"noopener noreferrer\">If a commercial property is refinanced, the capital is returned. There is no tax on that. When money is handed back to you, you can take reinvest it. <\/a><\/span><a href=\"https:\/\/twitter.com\/intent\/tweet?url=https%3A%2F%2Fmoneyripples.com%2Fmoney-ripples-st%2F%3Fp%3D5252&#038;text=If%20a%20commercial%20property%20is%20refinanced%2C%20the%20capital%20is%20returned.%20There%20is%20no%20tax%20on%20that.%20When%20money%20is%20handed%20back%20to%20you%2C%20you%20can%20take%20reinvest%20it.&#038;related\" target=\"_blank\" class=\"bctt-ctt-btn\" rel=\"noopener noreferrer\">Share on X<\/a><\/span>\n<p>I didn\u2019t complain. I\u2019m glad to be in a country where I have all the benefits. It was a pain, but I\u2019m glad to get away from it. Now, partnering with the IRS is my wink of how commercial real estate investors get these incredible taxes. He was talking about commercial real estate investors. If they knew how little we pay in taxes, there\u2019d be another tax revolt. I said, \u201cTell me more.\u201d He went on to tell me how he could take it. It was $20 million, and if the investor were patient and willing to let that ride with him for twenty years, which most wouldn\u2019t, it would throw off $131 million in free cashflow and build a portfolio of $210 million. He proved it with math.<\/p>\n<p>That was cool, and then he said, \u201cHere\u2019s the amazing part. This investor may pay virtually no tax during that time, maybe a few hundred thousand dollars.\u201d I was pretty blown away by that. I wanted to learn more, and I did a deep dive on this. This is back when I was researching this a number of years ago. There are amazing tax benefits for commercial real estate investors. Second, only to my knowledge of drilling an oil well that was dry. Not that you\u2019d want to do that, but I been there.<\/p>\n<p>One would be a direct investment. When you directly invest in stocks, bonds, or a REIT, you own shares in a corporation. If you\u2019re investing with the right syndicator, sponsor, or directly in your own commercial real estate investor investment, you\u2019re part of an LLC that owns that entity, and you get all the benefits of the tax savings that commercial real estate gets.<\/p>\n<p>A second way to do it is a way I recommend that everybody does is to hire a tech strategist. That\u2019s a side note. I\u2019ve written that on BiggerPockets, and I\u2019ve gotten hundreds of responses. People are asking me more about what does it mean to hire a tax strategist? Maybe we\u2019ll come back to another show and chat about that if you like.<\/p>\n<p>Return of capital is another one. I\u2019m not saying you can do this willy-nilly, but it\u2019s possible that a lot of the return, like let\u2019s say a ReFi, if a commercial property is refinanced or the return, the capital is returned, there\u2019s no tax on a refinance on your own home. There\u2019s no tax on commercial real estate when your money is handed back to you. You can take that money and reinvest it. It\u2019s awesome.<\/p>\n<p>Another opportunity is accelerated depreciation through cost segregation. A cost segregation study allows you to accelerate some of the tax savings. It\u2019s the depreciation that\u2019s accelerated instead of a 27 or whatever your life that might be put on a five-year life. That\u2019s legit because appliances, countertops, and things like that get worn out. It\u2019s a great strategy that a lot of people don\u2019t know about, and that\u2019s something I\u2019ve written about as well and got a lot of feedback.<\/p>\n<p><strong>That is what dentists and chiropractors, people who own buildings, have done cost segregation for themselves in their commercials. They save tens of thousands of dollars a year in taxes by doing that. <\/strong><\/p>\n<p>The cost segregation, people say that for $5,000 or $6,000 study, they can do this on a $100,000 commercial building and break even. Anything above $100,000 building, they claim, is gravy. Even if you have a small building, it\u2019s something to consider.<\/p>\n<p><strong>To clarify, for people that are reading this. Commercial buildings or commercial real estate, in this case, what do you define as commercial real estate? How many units or what property?<\/strong><\/p>\n<div id=\"attachment_5255\" style=\"width: 210px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.amazon.com\/Perfect-Investment-Enduring-Historic-Multifamily\/dp\/153700395X\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-5255\" class=\"size-medium wp-image-5255\" src=\"https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052704\/Graphics-Caption-2-MORI-221-Invest-Like-the-Super-Wealthy-200x300.jpg\" alt=\"MORI 221 | Super Wealthy\" width=\"200\" height=\"300\"><\/a><p id=\"caption-attachment-5255\" class=\"wp-caption-text\">The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing<\/p><\/div>\n<p>It could be a single-family home, according to the cost segregation people. That seems odd to me, but a duplex, a fourplex for apartments, or it could be a very small office building. Deferred taxes at the sale of your property through a 1031 exchange needs little clarification. Lots of people know about that. What a lot of people don\u2019t know that you can roll into a 1031 exchange, and you can do that in a Delaware statutory trust. There\u2019s a lot of stuff involved in that, but that allows a lot more freedom in the 1031 exchange. We all know you can do a self-directed IRA and not be beholden to your employer\u2019s 401(k) options.<\/p>\n<p>Passive loss limitations can sometimes be avoided if you\u2019re a real estate professional. That\u2019s what a lot of people are doing. Some new things that, at the time of this recording, the tax reform law from December of 2017 offers high net worth individuals a chance for a 20% deduction on income from the past through business entities. That\u2019s pretty cool.<\/p>\n<p>Taxpayers can also factor in 2.5% of the original purchase price as part of their 20% deduction. Section 179 of the tax code, a long time, has allowed deductions for capital improvements. The new law expands this dramatically, which allows significant paper losses for some capital improvements like putting a new roof on or an HVAC system. A heating and air system can be fully deducted in the year it\u2019s done in some cases. One last comment on the 1031 exchange, it was eliminated for things like airplanes, trucks, and things like that, from what I understand, but it was kept for real estate. It\u2019s another benefit to the wealthy and other commercial real estate investors.<\/p>\n<p><strong>It\u2019s so much different going from a place of active income, which is usually, what you create through your own income streams, whether it be through a job or through your business, whatever it might be. When you start moving to that investor profile, it\u2019s amazing the ways you can reduce taxes. You can make money or even lose money in oil well, but it\u2019s nice to know that you can create something from expenses and costs. You\u2019re going to be doing it paying for anyways or even cost that you don\u2019t pay for it like with cost segregation and those kinds of things. You\u2019re getting deductions off stuff that you\u2019re not even necessarily paying for. <\/strong><\/p>\n<p>It\u2019s a beautiful thing.<\/p>\n<p><strong>Explain a little bit more about what you do. <\/strong><\/p>\n<p>I am a real estate syndicator, which means we are looking actively for large multifamily properties in select cities. We\u2019re very conservative, not swinging for the fences. We\u2019re doing fairly safe Class B, which means maybe a 30-year-old property that might be a little tired and need some improvement, but in a great area. We\u2019re looking to buy apartments, and we\u2019re allowing investors to partner with us in that, so we can all make some money together.<\/p>\n<p>We\u2019re also investing in self-storage. I\u2019m writing a lot on BiggerPockets about the fact that the multifamily housing market is overheated. We\u2019re turning into self-storage because we have hundreds of investors who love and trust us, but we typically have nothing to show them to invest in. We only did one deal in 2017. We didn\u2019t do any in 2018. We\u2019re starting to partner with some great operators to invest in self-storage.<\/p>\n<p><strong>I\u2019ve noticed a lot of people. Apartment deals, for example, have been competitive in the sense that it\u2019s harder to find deals, but there are other alternative investments such as self-storage and things popping up here and there. I\u2019ve even had somebody buy assisted living-type stuff. There are lots of different alternatives popping up, but you have to be much more selective in that these days.<\/strong><\/p>\n<div id=\"attachment_5256\" style=\"width: 610px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-5256\" class=\"size-full wp-image-5256\" src=\"https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052707\/Graphics-Caption-3-MORI-221-Invest-Like-the-Super-Wealthy.jpg\" alt=\"MORI 221 | Super Wealthy\" width=\"600\" height=\"400\"><p id=\"caption-attachment-5256\" class=\"wp-caption-text\">Super Wealthy: Become a fractional owner of the property you\u2019re investing in by investing directly in syndication.<\/p><\/div>\n<p>&nbsp;<\/p>\n<p>We don\u2019t want to knowingly overpay. I did that years ago, and I don\u2019t want to do it again. It\u2019s not that I knew I only overpaid, but I think it was more out of ignorance, but I know better now. My partners are all in their 50s. We\u2019ve all made them lose money and don\u2019t want to lose anymore.<\/p>\n<p><strong>If people want to get ahold of you, reach out or find out more about you, what would you recommend? How would they do that? <\/strong><\/p>\n<p>They can visit our website, which is <a href=\"https:\/\/www.wellingscapital.com\/\" target=\"_blank\" rel=\"noopener\">WellingsCapital.com<\/a>. They can check out How to Lose Money on <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/how-to-lose-money\/id1170805348%5d\" target=\"_blank\" rel=\"noopener\">iTunes<\/a> or <a href=\"https:\/\/www.stitcher.com\/show\/how-to-lose-money-business-stories-life-lessons-navigating\" target=\"_blank\" rel=\"noopener\">Stitcher<\/a>. They can check me out on <a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/paulmoore\" target=\"_blank\" rel=\"noopener\">BiggerPockets<\/a>, where I\u2019m blogging there quite frequently.<\/p>\n<p><strong>Paul, thank you so much for your time. It\u2019s been awesome. It\u2019s an informative power packed episode, so I appreciate your time and your expertise. <\/strong><\/p>\n<p>Chris, thank you for having me on the show. I\u2019m truly honored and would love to have you on our show if you would like to contribute to the How to Lose Money world.<\/p>\n<p><strong>I would love that. I\u2019ve lost plenty of it. <\/strong><\/p>\n<p>All right.<\/p>\n<p><strong>Thanks so much, Paul. We\u2019ll talk to you later.<\/strong><\/p>\n<p>Thanks.<\/p>\n<p>&nbsp;<\/p>\n<h3>Important Links<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.wellingscapital.com\/\" target=\"_blank\" rel=\"noopener\">WellingsCapital.com<\/a><\/li>\n<li><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/how-to-lose-money\/id1170805348%5d\" target=\"_blank\" rel=\"noopener\">How to Lose Money Podcast<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/paulmoore\" target=\"_blank\" rel=\"noopener\">BiggerPockets<\/a> &#8211; Paul Moore<\/li>\n<li><a href=\"https:\/\/www.amazon.com\/dp\/153700395X\/ref=cm_sw_em_r_mt_dp_U_AoqlEb79Q3C8R\" target=\"_blank\" rel=\"noopener\">The Perfect Investment: Creating Enduring Wealth from the Historic Shift to Multifamily Housing<\/a><\/li>\n<li><a href=\"https:\/\/jakeandgino.com\/category\/multifamily-real-estate-investing-podcasts\/\" target=\"_blank\" rel=\"noopener\">Jake and Gino<\/a><\/li>\n<li><a href=\"https:\/\/reedgoossens.com\/podcast-investing-in-the-u-s\/\" target=\"_blank\" rel=\"noopener\">Reed Goossens<\/a><\/li>\n<li><a href=\"https:\/\/www.realtymogul.com\/\" target=\"_blank\" rel=\"noopener\">RealtyMogul<\/a><\/li>\n<li><a href=\"https:\/\/www.realtyshares.com\/\" target=\"_blank\" rel=\"noopener\">RealtyShares<\/a><\/li>\n<li><a href=\"https:\/\/fundrise.com\/\" target=\"_blank\" rel=\"noopener\">Fundrise<\/a><\/li>\n<li><a href=\"https:\/\/www.stitcher.com\/show\/how-to-lose-money-business-stories-life-lessons-navigating\" target=\"_blank\" rel=\"noopener\">Stitcher<\/a> &#8211; How to Lose Money<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What kind of investments do the super-wealthy invest in? What are some ways you can &#8220;partner&#8221; with the IRS, and get the tax advantages as an investor? Join Cash Flow Expert &amp; Anti-Financial Advisor, Chris Miles, as he talks with Paul Moore of Wellings Capital about what are some great investments right now, and how <a href=\"https:\/\/moneyripples.com\/money-ripples-st\/?p=5252\" class=\"more-link\">&#8230;<span class=\"screen-reader-text\">  Invest Like The Super Wealthy &#8211; 221<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":5257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[267,641,640,323,643,642],"class_list":["post-5252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-and-podcasts","tag-commercial-real-estate","tag-crowdfunding","tag-irs","tag-self-directed-ira","tag-tax-advantages","tag-tax-strategist"],"acf":[],"rttpg_featured_image_url":{"full":["https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052711\/Graphics-Episode-Art-MORI-221-Invest-Like-the-Super-Wealthy-Banner.jpg",940,492,false],"landscape":["https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052711\/Graphics-Episode-Art-MORI-221-Invest-Like-the-Super-Wealthy-Banner.jpg",940,492,false],"portraits":["https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052711\/Graphics-Episode-Art-MORI-221-Invest-Like-the-Super-Wealthy-Banner.jpg",940,492,false],"thumbnail":["https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052711\/Graphics-Episode-Art-MORI-221-Invest-Like-the-Super-Wealthy-Banner-150x150.jpg",150,150,true],"medium":["https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052711\/Graphics-Episode-Art-MORI-221-Invest-Like-the-Super-Wealthy-Banner-300x157.jpg",300,157,true],"large":["https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052711\/Graphics-Episode-Art-MORI-221-Invest-Like-the-Super-Wealthy-Banner.jpg",940,492,false],"tf-client-image-size":["https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052711\/Graphics-Episode-Art-MORI-221-Invest-Like-the-Super-Wealthy-Banner.jpg",120,63,false],"1536x1536":["https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052711\/Graphics-Episode-Art-MORI-221-Invest-Like-the-Super-Wealthy-Banner.jpg",940,492,false],"2048x2048":["https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052711\/Graphics-Episode-Art-MORI-221-Invest-Like-the-Super-Wealthy-Banner.jpg",940,492,false],"bloom_image":["https:\/\/media.moneyripples.com\/wp-content\/uploads\/2022\/08\/11052711\/Graphics-Episode-Art-MORI-221-Invest-Like-the-Super-Wealthy-Banner-610x319.jpg",610,319,true]},"rttpg_author":{"display_name":"Chris Miles","author_link":"https:\/\/moneyripples.com\/money-ripples-st\/author\/chris"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/moneyripples.com\/money-ripples-st\/?cat=8\" rel=\"category\">Blog and Podcasts<\/a>","rttpg_excerpt":"What kind of investments do the super-wealthy invest in? What are some ways you can &#8220;partner&#8221; with the IRS, and get the tax advantages as an investor? Join Cash Flow Expert &amp; Anti-Financial Advisor, Chris Miles, as he talks with Paul Moore of Wellings Capital about what are some great investments right now, and how&hellip;","_links":{"self":[{"href":"https:\/\/moneyripples.com\/money-ripples-st\/index.php?rest_route=\/wp\/v2\/posts\/5252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyripples.com\/money-ripples-st\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moneyripples.com\/money-ripples-st\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moneyripples.com\/money-ripples-st\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyripples.com\/money-ripples-st\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5252"}],"version-history":[{"count":5,"href":"https:\/\/moneyripples.com\/money-ripples-st\/index.php?rest_route=\/wp\/v2\/posts\/5252\/revisions"}],"predecessor-version":[{"id":5390,"href":"https:\/\/moneyripples.com\/money-ripples-st\/index.php?rest_route=\/wp\/v2\/posts\/5252\/revisions\/5390"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moneyripples.com\/money-ripples-st\/index.php?rest_route=\/wp\/v2\/media\/5257"}],"wp:attachment":[{"href":"https:\/\/moneyripples.com\/money-ripples-st\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moneyripples.com\/money-ripples-st\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moneyripples.com\/money-ripples-st\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}