Wellings Capital

We have invested in four separate Wellings Funds since 2019, giving us nearly seven years of firsthand experience with Wellings through both the market highs of the early 2020s and the significant downturns of recent years. During this time, we have invested with a number of syndicators, and Wellings is one we continue to return to. Their funds have consistently performed in line with their projections, and distributions arrive in our bank account like clockwork. The quality, detail, and transparency of their reporting and communication reflect their diligent oversight and hands-on involvement and management. This commitment is evident from the outset, beginning with their exceptionally rigorous and thorough vetting process, through which only a small fraction of proposed investments—those meeting their high standards—are selected. Wellings’ genuine commitment to its investors is reflected in the care, responsibility, and integrity with which every aspect of its business is conducted. Paul and Benjamin are also remarkably open and generous in sharing their knowledge and explaining the practices behind their approach. Based on our experience, I would not hesitate to continue investing with Wellings or to recommend them to others.

I have invested with the team at Welling's Capital since 2020. Each and every question posed was answered promptly and efficiently. I now have investments in Fund 2 and Fund 3, the Real Estate Investment Fund and 3 of the side cars that have been offered over time. I have also committed to funding an investment in the Income Fund 2, I am expecting to deploy funds soon. The monthly or quarterly interest payments are consistently made in a timely manner. I wish that were the case in all my alternative investments. As it is not, hats off to Welling's Capital!! In addition I have found the due diligent process employed by management to be second to none. As an investor, I am thoroughly pleased with excellence and integrity with which Welling's functions. I am also pleased with their commitment to Agape International Missions (AIM) which rescues and rehabilitates trafficked children on 3 continents. Thank you Wellings Capital! ERC

I invested in Wellings Income Funds 3 and 4 in qtr. 4 2021 and qtr. 1 2022. The funds were marketed as INCOME funds with diversified holdings, geographically dispersed in select asset classes of commercial real estate. Primary focused on Self storage and Mobile Home Park assets. The underwriting promised the following for both funds: Prj Net Avg. Annual Return13-16%; Prj Avg Annual Cash Yield 6-9%, Prj. Net Equity Multiple 2.3-2.6x ; Structure 9% pref, then 80/20, Expected duration 10 years. The pitch decks talked about diversification of assets – the fund is diversified with the physical locations of the assets yet today both funds are leveraged greatly around a few general partners. Fund 3 has 2 GPs that equate to 56% of capital allocated and Fund 4 has one GPs that equate to 42 % of capital. Not exactly what I was expecting with the idea of diversification. The promised monthly cash flow (which was one key reason I invested) to investors was 6-9% for both funds. Fund 3 is delivering close to the low end at ~6% . Fund 4 delivered at the low end of promise for years 1-3 and year 4 was ~4.6%. In recent days Wellings has communicated that the way returns are calculated is changing and appears to affect the monthly distribution and projected to be lower. In the same communication the Wellings team is still projecting the Funds will deliver upon their initial underwriting projections at the conclusion of the Funds hold period. Some other thoughts – the Welling’s team is committed to quarterly communications although each quarter decks are lengthy (Fund 3 Qtrly update was 17 pages and Fund 4 Qtrly update was 30 pages). It is difficult, at times, to weed out the key metrics that matter – financials with NOI (vs Plan) and operating measures of occupancy actual, vs plan, vs last year. Also, seeing status of the debt for assets held has proven to be challenging. I am happy to continue to receive distributions in an era where many syndicators have paused distributions. If you are considering investing in any of the Wellings deals I suggest you ask to see results of full cycle deals-funds and ask deeper questions of fund makeup, and the results with those GP’s. I hope to revise my rating of Wellings Fund 3 & 4 when they deliver fully upon their initial commitments.

I started investing with Wellings a few years back. Like many who are on this site I was looking for some asset diversification while trying to avoid doing something stupid. If your goal is to get rich quick, or even to simply get rich, this is probably not the group for you. I genuinely feel projections are what they think the market can offer, rather than advertising unobtainable returns to raise capital. As an organization, Wellings puts a lot of effort into transparency. There is lots of regular communication and when a specific deal doesn't pan out as expected they aren't afraid to let you know. Everyone involved is very approachable. There are always risks in any investment, but I sleep at night and overall am rather happy with the 3 unique funds I am invested in and suspect that a 4th investment will follow in the new year.