Hey, everybody, welcome back to another episode of the Richer Geek Podcast. On today’s episode, we have Jim Sheils, a real estate expert with extensive knowledge in the Build-to-Rent niche. He’s a partner at Southern Impression Homes, a company that specializes in building rental portfolios in Florida’s high-growth markets for individual investors and institutional buyers, in addition, Jim is the co-owner/co-founder of 18 Summers, providing family education services to entrepreneurs and professionals seeking to strengthen their family relationships while succeeding in business.

In this episode, we’re discussing…

· [1:13] Jim and Jamie Sheils background and partners at Sothern Impression Homes

A company specializing in building rental portfolios for investors.

· [2:08] Overview of Southern Impression Homes

Jim provides an overview of Southern Impression Homes, focusing on building rental portfolios for individual investors and institutional buyers, particularly in Florida.

· [2:37] Build-to-Rent Strategy and Property Types

Jim explains the build-to-rent strategy, focusing on durable construction and avoiding the "three-year curse" common with older properties.

Discusses building single-family homes, duplexes, and quads to provide options and better cash flow.

· [4:38] Market Focus and Property Sizes

Highlights the importance of market focus and discusses property sizes ranging from 1,200 to 5,000 square feet, aiming for affordability below the median

· [8:16] Target Investors and Tenant Demographics

Talks about attracting middle-management, high-paying professionals, police officers, teachers, and families with two incomes.

Emphasizes affordability for both buyers and renters.

· [9:27] Process for Investors and Construction Financing

Jim explains the process for investors, highlighting that they do not need a construction loan.

Offers an in-house financing program at 4.75%, providing options for investors.

· [17:26] Long-Term Investor Perspective

Discusses the investor perspective, indicating that many investors prefer to stay for the long term due to increasing cash flow and property stability.

· [18:09] Introduction to 18 Summers Program

Shifts to discussing Jim's 18 Summers program, focusing on helping business leaders strengthen family connections through innovative frameworks.

· [18:43] Importance of Family Board Meetings

Describes the Family Board Meeting strategy to strengthen family connections through one-on-one time, intermittent tech fasting, and meaningful communication.

· [22:05] Conclusion and Where to Find Jim Shields

Wraps up the podcast, providing information on where to find more about Jim Shields and his programs

Resources from Jim

Other Resources

Application underwriting for tenants: RentZap

Resources from Mike and Nichole

Gateway Private Equity Group | Nic’s guide