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Mastering Real Estate Investments While Creating Legendary Family Lives with Jim Sheils
This week Avery is joined by Jim Sheils, real estate investor who specializes in the build-to-rent model. They discuss the advantages of Build-to-Rent, emphasizing its efficiency in reducing maintenance costs and increasing tenant retention compared to older properties. Jim highlights the importance of starting small, and the necessity of understanding the complexities involved in new construction. Jim also shares some insights on his other passion, building a successful family life. He advocates for creating a balance between professional success and personal fulfillment, emphasizing scheduled quality time with family to build lasting relationships and prevent regret.
Avery: “Sick last week, sorry I sound like this. Hopefully, you guys can deal with it all. Alright, got a super cool guest today—Jim Shields. We have not really talked about this asset class that he’s in at all yet, and I find it very interesting. It’s a build-to-rent model, so new construction, straightforward rental, and I’m really excited to hear about it today.”
Avery: “Jim’s a best-selling author, not only when it comes to real estate investing but more. He’s also about lifestyle design. He’s got a cool book called 18 Summers, which is kind of heartbreaking when you understand what it’s about. It’s about, you know, the 18 summers you get with your kids. So anyway, I’ll go ahead and let Jim introduce himself.”
Jim: “How’s it going, Jim here. Good, Avery. Thanks for having me.”
Avery: “Yeah, thanks for coming on! Um, so let’s start. Just if you want to give us a little bit of background about yourself—how you got into real estate, kind of just the highlights.”
Jim: “Well, we’ll start there. Yeah, it was 25 years ago, which sounds crazy to say. I’m like, ‘Gosh, I’m knocking on 50 now.’ Where did this all go? Uh, it started with me really wanting to be an entrepreneur. I wanted to go off on my own and was looking at a ton of business opportunities, you know, full of just wind and fire. And I kept coming back to real estate. Seven out of 10 millionaires in the U.S. made their money in real estate at the time I was looking at it.”
Jim: “I think it’s actually gone up from that. And I never liked Wall Street; I grew up near the area, but I liked the tangibility of real estate right away. It made sense—buy this, put this much into it, now it’s worth this much—and that was the start of my journey.”
Jim: “I bought fixed and resold hundreds of HUD foreclosures out there, starting with one, then slowly growing. I liked the fundamentals better in Florida, so I moved.”
