The value system that guides Jim Sheils in all his ventures is underpinned by the high level of importance he places on his relationships with others, whether they are business partners, employees, or members of his family. During this conversation, Jim, a driven, humble, seasoned real estate man, talks us through developments, investments, income funds, his career trajectory and the key components to his success, as well as his passion project, 18 Summers, which aims to help entrepreneurs find a healthy balance between work and family life.
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If you are looking to enter the real estate space or looking for ways to improve your business model and/or your relationships, you’ll certainly learn a lot from this episode!
Key Points From This Episode:
- How Jim’s main focus at the moment, the build-to-rent model, works.
- Why investors are looking for duplexes and quads, rather than just single-family units.
- Key factors Jim looks for before developing and how he finds the information he needs.
- The importance of having business partners who complement your skillset and strong relationships with your team.
- Hear Jim’s top tips for starting an income fund.
- Communication, and making sure investors understand your model, is key.
- The challenges in moving from bulk foreclosures to syndications funds.
- Why the build-to-rent model has benefits even in an economic downturn like the current one.
- Jim’s main strategies for achieving his goals.
- The power of saying no and how this has helped Jim in business.
- Never underestimate the importance of family.
[bctt tweet=”I always look for population growth, economic growth, affordability, desirability, and healthy supply and demand. — Jim Sheils” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Jim Sheils
Jim Sheils has been a full-time real estate investor for over twenty years and his ventures have included over 1,000 acquisitions and rehabs. He started in Bakersfield CA, moving on in 2005 to Northeast Florida due to the long-term growth patterns predicted for the area. Post 2008, his company focused on bulk foreclosure of properties until switching their model to new construction to adapt to the changing market conditions and needs. Through a dynamic building partnership, Jax Wealth Investments now focuses on catering to investors in single-family and small multi-unit developments in Jacksonville, Ocala, Palm Coast and Atlanta, GA. Jim also runs a family education company called “18 Summers” that specializes in talks, workshops and retreats for entrepreneurs looking to find more of a balance between work and family life. He is the author of the best-selling book, The Family Board Meeting, that was ranked #1 in the categories of relationships, parenting and entrepreneurship. Jim is an avid surfer and enjoys traveling with family and friends; especially his beautiful wife Jamie and their four children, Alden, Leland, Maggie and Sammy. Jim’s greatest adventure to date: donating a kidney to the greatest guy on the planet, his father.
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