Build to Rent Investing & 24 Years in Real Estate with Jim Sheils

Passive Wealth Strategy Show - Real Estate for Busy Pros

Delve into the captivating world of real estate with Jim Sheils, a full-time real estate investor with 24 years of experience and a fascinating journey of mastering the build-to-rent strategy. Jim shares insight into his lifestyle of working and adventuring, his family education company 18 Summers, why retirement does not interest him, and his advice for investors looking to get involved in building to rent properties. Learn what areas are best avoided when investing in rental properties, the pros and cons of specific designs, the importance of due diligence in property insurance, and much more.

Tune in now and understand why building and renting properties can be a great way to generate income!

[00:00 - 07:17] Journey From Real Estate Investor to Build-to-Rent Strategy

• Introducing Jim to the show
• What keeps him going is the "how" - the ability to work and play from Costa Rica, spend time with family, keep up with health, and take adventures

[07:18 - 14:55] Making Build to Rent Deals Work

• Focus on high-growth markets with population growth, economic growth, affordability index, and desirable factors
• Properties are B+ class with extra finishes like vinyl plank flooring, granite countertops, etc.
• Go for established neighborhoods with a good mixture of renters and owners
• Have to go to designs for different areas based on hurricane safety and aesthetics

[14:56 - 24:22] The Importance of Due Diligence and Property Insurance

• Owning too many properties can be a ten-year ache and pain
• Insurance costs have gone up in Florida, but vary by area and age of home
• New construction is rewarded with lower insurance premiums
• Due diligence is essential: visit the site and do market analysis

[24:23 - 27:48] Closing Segment

• Best investment: Jim's family life
• Worst investment: Jim's first properties in Jacksonville, Florida
• The most important lesson learned: play to your strengths, not your weaknesses

Quotes:

"We always try to go to high-growth markets. We're only focused on Florida because we believe in the fundamentals here. We believe in the landlord laws here, which are super important when investing. You've got to be able to collect your rent." - Jim Sheils

"If I could go back 24 years, I'd own less property, a better quality with less leverage." - Jim Sheils

Connect with Jim!

Book: Passive Income Playbook

Website: https://jjplaybook.com

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

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