Interview with Paul Moore of Wellings Capital


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Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Paul Moore of Wellings Capital. Andrew and Paul talk about the important lessons that Paul has learned from the days when he was just a “spectator” to now where he has really become a true “investor”, and what that really means. They also talk about the Wellings Capital funds, his multi-family investing book: “The Perfect Investment”, and his tips for helping passive investors interested in mobile home parks.

Paul Moore is the managing director of three commercial real estate private equity investment funds at Wellings Capital. Paul has founded multiple investment and real estate development companies. He has appeared on big networks such as HGTV, Fox Business, and BiggerPockets, as well as co-hosting two podcasts: the ‘How to Lose Money’ podcast, and ‘The Art of Investing’ podcast.

Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.

Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about

Andrew’s story at

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Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:50 - Paul’s story and how he got into manufactured housing
05:35 - Paul’s multi-family investing book
08:36 - The most important thing for passive investors
11:57 - Vetting an operator
16:37 - Wellings Capital
19:14 - Wellings Income Fund I and II
21:57 - Case Study
27:20 - Paul’s perfect mobile home park
30:40 - The future of the economy and how mobile home parks will weather the storm
33:11 - $15 an hour minimum wage
34:26 - Getting a hold of Paul
34:58 - Final tip for passive investors
36:29 - Conclusion

Links & Mentions from This Episode:

Wellings Capital:
Keel Team’s official website:
Andrew Keel’s official website:
Andrew Keel LinkedIn:
Andrew Keel Facebook page:
Andrew Keel Instagram page:
Twitter: @MHPinvestors

65 episodes