What to Look for as a Limited Partner with Jake Wiley, Ep. 424

Jake Wiley is an entrepreneur, CPA, former CFO, and real estate investor. Jake was the founder at Solar Inverted LLC, a Louisiana-based Residential Solar Finance and Installation Company, which was later acquired by Palmetto Group, where Jake led strategic initiatives until late 2018.

Jake’s diverse industry experience in both corporate and startup companies, as well as his layered work experience as an executive, founder, and advisor, allow for his unique, well-rounded, and informed perspective on the transition to becoming a Limited Partner. We talked to Jack about why and how he switched to being an LP, what to look for when getting into real estate investing, and his show “The Limited Partner”.

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[00:01 – 07:14] Opening Segment 

• Jake talks about his background.
• He talks about how he started investing;
• How he started raising money;
• Why he now prefers to invest as a limited partner;

[05:14 – 19:15] A Limited Partner

• Why and how he transitioned into passive investing;
• Where property managers aren’t useful;
• He talks about some of the benefits of investing in larger properties
• Jake gives some advice to those who want to switch to the passive side;

[19:15– 27:22] What to Look for When Starting Out

• What to look for when getting into real estate investing;
• The importance of getting educated before getting started;
• Jake talks about his show “The Limited Partner”
• Why you should consider investing passively before you get to the active side;

 [27:22 – 34:28] Round of Insights

Apparent Failure:

His first business model when he got started

Digital Resource:

airdna.com

Most Recommended Book:

Authority

Daily Habit:

Journaling

#1 Insight for Investing as an LP:

Take your time with your first investment.

Best Place to Grab a Bite in Charleston: 

The Long Island Cafe

Contact Jake:

To learn more go to thelimitedpartner.com.

Tweetable Quotes:

“It’s so powerful when you find out that you don’t have to trade time for dollars anymore.” -Jake Wiley

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