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JF 3927: Avoiding Fraud, Understanding Returns, and Protecting LPs in CRE ft. Paul Moore
Season 1 · Episode 3927

JF 3927: Avoiding Fraud, Understanding Returns, and Protecting LPs in CRE ft. Paul Moore

The Best Ever CRE Show · Joe Fairless

June 5, 202556m 52s

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Show Notes

On this episode of the Passive Income Playbook, Pascal Wagner interviews Paul Moore, founder of Wellings Capital, to unpack one of the most misunderstood concepts in real estate investing: the capital stack. They dive deep into the distinctions between common equity, preferred equity, and mezzanine debt—breaking down how each affects risk, return, and control. Paul shares why his firm has shifted from common to preferred equity over the last five years and explains how LPs can benefit from this approach—especially in today's volatile lending environment. He also introduces a new hybrid strategy that balances preferred protections with common equity upside, and closes with key tips on how LPs can avoid fraud and conduct meaningful due diligence.

Paul Moore

  • Current role: Founder & Managing Partner, Wellings Capital

  • Based in: Blue Ridge Mountains, Virginia

  • Say hi to them at: https://wellingscapital.com

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