A Builders Mentality - Building Turnkey Rentals, Strong Kids, A Healthy Marriage, And A Big Bank Account | Jim Scheils | Replay
Millionaire Mindcast
Matt Aitchison
4.4 • 716 Ratings
🗓️ 1 July 2024
⏱️ 53 minutes
🧾️ Download transcript
Summary
Today, we have a huge guest, Jim Sheils who shares frameworks that impacted a lot of people and families, how to achieve a legendary family life, having honest and brutal inventory to oneself, building turnkey rentals, and achieve financial and time freedom!
Jim Sheils is a father, husband, real estate investor, Wall Street Journal best-selling author, and owner and founder of the family education company, 18 Summers, a company that specialize in retreats, workshops and private consulting for family focused companies, entrepreneurs and professionals looking to strengthen their family lives while still succeeding in business.
He is renowned as the "Crazy Glue" for entrepreneur families. His famed "Board Meeting" method and other basic frameworks are assisting thousands of business executives worldwide in reconnecting home. He wrote the book "The Family Board Meeting. Jim is also a partner of Southern Impression Homes, a firm that builds rental portfolios for private investors and institutional buyers (American Homes for Rent, Haven Realty, Crescent APL, Mynd).
Real estate has been Jim’s core. He grew up with money as their main problem in the family, thus, he wanted to be successful in life to do all the things that his father wasn’t able to do. At the same time, wanted to see other business owners and investors not just success in business and investing but as well as at home. Now, as Jim is reaping the fruits of sacrifice and hardworks, while trying to make the most of life of entrepreneurs. This is to have fun and keep connection with families along the way. He created turnkey models and process that creates opportunities to more investors coming in!
Some Questions I Ask:
When somebody ask who’s Jim Scheils, what do you say?
How people can build wealth without sacrificing their family, values, and the things that are really important to them in that process?
How were you going that decision-making process and matrix going forward?
Where did the family board meeting and 18 Summers come about?
What is 18 Summers and why is that number matter?
What do you think the greatest challenges that parents are facing today that should be spotlighted?
Talk a little bit about your build-to-rent business, and why are you guys believe in that model?
Who is your ideal investor and how much capital are they thinking they should bring to the table, and what kind of returns they should be looking at?
In This Episode, You Will Learn:
Being successful in business, investing, and at home.
Why you must take an honest inventory of yourself.
Jim’s spaghetti string.
How to achieve a legendary family life.
The family board meeting strategy.
The power of date night with the question.
The pros of having teen night and Mastermind.
Quotes:
“Before you figure out what’s next, figure out what’s important.”
“I wanted to leverage my real estate to have a legendary family life.”
“The mission came before the money.”
“Quality time is key.”
“95% of the world is broken unhappy, so do the opposite.”
Connect with Jim Scheils on:
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Transcript
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| 0:00.0 | And a mentor had told me, you got 18 summers, Jim. And he was 70 years old, had a great relationship |
| 0:04.8 | with his grown daughters. He's like, you do those first 18 right. They're going to come back for more. |
| 0:09.3 | He's like, in the memories that I live off of still, he's like, go all in. Whoever gave that |
| 0:14.4 | awful advice to us, Matt, that put your head down next five to 10 years, your family will understand. That's bullshit. That's terrible advice. |
| 0:22.5 | So my whole thing of what I try to do, Matt, I'm the last person to take away ambition. |
| 0:26.9 | But what I do with our Build to Rent Company and then our 18th Summers family education, |
| 0:30.7 | I want to see you be successful in business and investing and successful at home. |
| 0:34.8 | And that's kind of where I've kind of settled in and how I get to meet |
| 0:38.2 | great friends like you and others and other groups we're in together. And that's kind of become my |
| 0:42.5 | mission and my schick. |
| 0:53.9 | Well, I'm excited to welcome into the show, my brother, Mr. Jim. |
| 0:57.7 | Shields, how we doing, man? |
| 0:59.9 | Good to see you, Matt. |
| 1:00.9 | I love the hair, too. |
| 1:02.2 | I have a fellow hippie amongst my most date buddy. |
| 1:06.6 | I took a page out of your playbook, brother. |
| 1:09.2 | You've been letting the loss grow for a while. |
| 1:11.3 | And, you know, COVID was like that first like, yeah, whatever, you know, let the hair grow. |
| 1:16.5 | And I got a lot of compliments on it. |
| 1:18.5 | And then I shaved it and then I grew it out again. |
| 1:21.9 | But it's always good catching up with you, man. |
| 1:24.1 | I mean, you and I cross paths at a go-abundance event a handful of years ago. |
... |
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