Dr. Alex Schloe on the Military Millionaire Podcast

David Pere: What's up, military millionaires? I'm your host David Bray, and today we're absent an Alex Felice. God bless him. Unfortunately, he's trying to do this whole bigger and better thing in Austin. I believe he's currently in the middle of a Hal Elrod podcast, who I interviewed two hours ago on this podcast, but he's doing it in person with Brandon, so whatever, we'll do this without him. He actually, it's kind of funny because he declined the recording. last night because he realized the schedule changed and he wasn't going to be able to do it. And I thought that this Alex, our actual guest, declined it and I called him and I was like, oh no, did our podcast get rescheduled? What happened? And he's like,

Dr. Alex Schloe: Hahaha

David Pere: no, man, I'll be there. Wrong Alex. I was like, oh shoot. So I'm excited. But today we're going to talk all things, real estate, normal stuff. But the guest today is Alex Schlow, who is a friend of mine. So this is He's a physician in the Air Force. He's a war room member, which is why we're both rocking our fancy shirts, which is cool.

Dr. Alex Schloe: Let's go.

David Pere: He's a short-term rental investor. Recently, and we'll dig into this, I wouldn't say recently, but recently more, assisted living, residential stuff, which is really cool, and something that we're gonna dig in for sure. Also, loving husband father, which has always been really cool and evident by the... conversations that we've had. We had some pretty cool conversations in Keystone earlier this year about the book Wild at Heart and just, just cool to hear Alex talk about all that and, you know, refreshing to be around people who have their priorities straight in a lot of ways outside of real estate. So, you know, that's, that's cool. And that's a lot of fun for me. But that being said, now he is investing in assisted living facilities, which is rad by the way. And today, we're going to talk about how he's been able to jump and jump in and take off so quickly with that and everything else he's doing. So without any further me just running my mouth, Alex, welcome to the show.

Dr. Alex Schloe: What's up, Dave? Man, happy to be here. You know I would never ghost you. So I did appreciate the phone call last night. Also pretty wild to be on a podcast how Elrod was on earlier this morning.

David Pere: Hehehe

Dr. Alex Schloe: I do Miracle Morning every morning and it's been a game changer, so it's pretty wild. Definitely don't feel worthy to be on here, but happy to be here, my friend, and looking forward to our discussion together.

David Pere: Well, yeah, you and I both. Hal definitely has had a piece in my life as well. And I don't know that I deserve to be on this show half the time either. So,

Dr. Alex Schloe: Hahaha

David Pere: you know, ta-da! But no, lucky for us, nobody has a say in it but us. So it is

Dr. Alex Schloe: Yeah,

David Pere: what it

Dr. Alex Schloe: you're

David Pere: is.

Dr. Alex Schloe: the boss.

David Pere: All right, so we're going to jump right in. We're going to have some fun with this. So we're trying to get to where we ask. some more pointed questions right out the gate rather than just jumping straight into like, tell me your story. And then we just uncover things as we go and

Dr. Alex Schloe: Yeah, let's go.

David Pere: kind of mess with new format. So right out the gate, just curious, what are some of the benefits of investing in an assisted living residence compared to other types of real estate investments? Like what are some of the unique opportunities or challenges? What like, why that? Like I don't think in 210 episodes that we've had a single person on the show. who does assisted living stuff.

Dr. Alex Schloe: Yeah, let's go. Let's jump right in. Great question, Dave. Yeah, so residential assisted living, that kind of is an umbrella term or at least I use it as an umbrella term. There's a lot of different avenues within residential assisted living. So a lot of times we think about grandma, grandpa on assisted living home, kind of your big box. Brookdale, for example, is an example of that. Residential assisted living is taking a single family home that's been retrofitted, ADA compliant and bringing elderly folks into that home. There's also transitional living homes, behavioral living homes, a lot of different kind of facets within the umbrella of residential assisted living homes. In terms of elderly care, and we'll talk about that first, and that's something we're trying to get more into because the potential there is huge. There's currently already about a billion, oh, sorry, a billion, that'd be huge, a million

David Pere: Thanks for watching.

Dr. Alex Schloe: bed

David Pere: Bye.

Dr. Alex Schloe: shortage. of residential assisted living homes. And so there's a huge demand for these homes, huge demand for these beds, already about a million. By 2025, they're expecting that to be about 1.3 million. We have 10,000 people turning 65 every day, 4,000 turning 85, and 70% of those will need help with their ADLs or activities of daily living. And that's like your bathing, your toileting, your feeding yourself, et cetera. And so that's what these homes are. set up for. This isn't a nursing home. This isn't taking care of the patients. I'm a doctor, but I'm certainly not going in and taking care of any of these patients. And these homes are in Phoenix, but that's more of a nursing home perspective. And so it's really those folks that need help with those activities of daily living. That's one avenue of that. And we're really trying to pivot more into that space as well. Another huge need, and we're investing in Arizona, is transitional living homes. These are folks who are transitioning in life and typically are either struggling with alcohol use, drug use, and they're in intensive outpatient programs where they're going there daily, they're working with these clinics in order to get sober, in order to learn life skills, in order to get ready to go be a productive member of society, and they need a place to stay. And so these transitional living homes are where they stay typically. And so we have two of those in Arizona. They're awesome. The cashflow is incredible for assisted living in general. And we're kind of taking it more of a lease based approach. So there's kind of two different ways you can look at this. One would be owner and operator. So you own the real estate, but you also operate the business. This is pretty time intensive. And like you said, I'm a family medicine physician in the Air Force. I don't have time to operate an assisted living home. So we're buying the real estate, leasing that out under a commercial lease, typically three to five years. The cashflow in these properties is incredible. For example, these transitional living homes, and rough estimate is they're making about $200 per resident per day. And these two homes each hold 10 residents. So they're making about $2,000 per day, $60,000 per month on these homes. Incredible, absolutely incredible. So they're able to pay. these lease fees that are way higher than what typical rent would be in the area. The benefits to this is, one, once you do all your due diligence to get an amazing realtor who specializes in assisted living, which we've been lucky to have, you can interview these operators, get these operators in. They're able to pay this high lease fee. These homes, honestly, are cash flowing as well, if not better than our Airbnb properties, and they're about as passive as it gets. And so that's one aspect of it. It's on a commercial lease as well. So we're not responsible for maintenance, utilities, anything really, other than the mortgage insurance and taxes. And so it's a pretty passive form of investing. For example, this last deal we closed, you and I talked about it a little bit. We purchased it for 5.30. We're on a three-year commercial lease at $6,250 per month. That has a 3% annual increase. Plus, once we put in sprinklers, which is required in this locale in Phoenix, we'll be able to raise the rent by $500. And that's written into the lease. So we're cash flowing 2,700 a month, not taking into account those increases on this one house in Phoenix. It's an incredible opportunity and we're really excited about it. I keep saying we, because Charlie Cameron and I is part of the war room, and Luke, one of my buddies, is part of the war room as well. We've partnered up on these deals and are looking to expand in the future. And yeah. Yeah, so hopefully that kind of explains a little bit. Feel free to hit me with any questions you have.

David Pere: Man, so it's, I mean, these are basically straight up triple net.

Dr. Alex Schloe: Yeah, pretty much. Kind of like a double net

David Pere: Ah,

Dr. Alex Schloe: plus, I guess.

David Pere: yeah.

Dr. Alex Schloe: But we are responsible for HVAC and the roof. They do require a home warranty. So we provide a home warranty every year, which in theory would cover that HVAC and theory would cover the roof, our homeowners insurance would. And to be honest, in Arizona, roofs last a long time. So really the capex and maintenance expenses are minimal. So yeah, it's incredible.

David Pere: I'd imagine that there's probably some interesting criteria that you have to meet as far as like your homes, right? Like these are probably like four or five, well, three to five bedroom houses, but they're probably all single family, no stairs at the front, like all, you know, certain door frame size. All the, I mean, shower has to be a 80, 88, like they probably all these weird. not weird, but very unique requirements that you have to have. But to be net-net 2,700 a month and it's not gonna fluctuate is pretty rad.

Dr. Alex Schloe: Yeah, man, it's awesome. You're exactly right. It depends on kind of what style of home you're doing. So certainly for your assisted living homes for elderly care, you need to be ADA compliant. That's typically grab bars in the bathrooms, you know, a wider doorframe so they can fit a wheelchair through ranch level home or an elevator to get you to the second floor ramp into the house. So there's some. stipulations to that. And that's really going to be location dependent, dependent on your state, dependent, even on your city, what they require for that for your transitional living homes. That's typically a single family house. And so we look for homes that are able or licensable as transitional living homes, also as residential assisted living homes for elderly care, just to have those multiple exit plans and opportunities. The transitional market in Arizona is popping right now. And they're cracking down hard on licenseability. And so we're only buying licensed homes. We're requiring our operators to be licensed. There's a lot of folks who are operating these unlicensed homes and they're being shut down. And so that's something to keep in mind going forward. But really for transitional living, it just needs to be a single family house. We're looking, like I said, ranch level, ideally five bedrooms or more. You typically, even for assisted living, for elderly care, you wanna have about 300 square foot. or square feet per resident. The more bathrooms and the more bedrooms you have, the more private rooms you can have, which you can charge more. And so from that aspect, you're looking to try and attract that private payer. You're looking to attract that upper middle class or upper class daughter or son who's looking to put mom or dad into a home who can pay private pay costs for these homes. And that's really where the cashflow can increase dramatically. in these homes as well for assisted living, for elderly care. So yeah, a lot of good opportunities going forward. I think we're right on the tip of the iceberg of this real estate asset class. It's not easy to get into. It takes a lot of work upfront and certainly a lot of networking to find operators that will work well for you, but it's incredible. Yeah.

David Pere: Yeah, that was going to be kind of some of my other questions. But before we dig a little deeper into all that, how did you guys get started, right? I know you've got the big dome. Let's talk your real estate journey so far.

Dr. Alex Schloe: Yeah, yeah, absolutely. So real estate journey, it actually starts back when I was in med school in Richmond, Virginia, and I didn't buy a property at this point in time, but that's when the seed was planted. I was always the kid that liked looking at homes, you know, getting the little pamphlets that showed what homes are for sale, etc. And I joined the Air Force and I got a $20,000 signing bonus. And my dad, who doesn't have real estate investing experience said, Hey, why don't you take that $20,000 bonus? why don't you buy a duplex or something like that, fix it up. This was way before house hacking was sexy, if you will. And like any son does typically, I didn't listen to him. And I went to med school, I rented out a apartment in Richmond. I didn't buy that duplex, but that seed was planted. And so I knew once I graduated med school and was going to head to residency, I was going to keep the real estate investing in mind. And so. My wife and I, we weren't married at the time. We looked at some homes there in Florida. I did residency at Eglin and Destin, Florida, and we bought a home with a physician loan, which is no money down. And honestly, Dave, I'm telling you, it's as good, if not better, than the VA loan. It's no money down. There's no funding fee. Of course, your interest rate's a little bit higher because there's a little bit higher risk. But as a physician, it was an incredible way to get started. I bought a house in Florida for $58. out of my pocket. It was amazing. It was kind of a live in flip light. Luckily, my wife is incredible and a really good interior designer and stager. And so we kind of worked on renovating the property. It's got like $160, $180,000 in equity right now. Cashflow is $800 a month. That was really our start in real estate and just an incredible opportunity. So, you know, any physicians that are listening to this, I mean, the physician loan, if used correctly is just an incredible opportunity. It is your 30 year fixed mortgage for a primary residence. I've heard folks that can buy second homes with them. I haven't found a bank that allows you to do that. So

David Pere: Hehehehe

Dr. Alex Schloe: if anyone knows of one, let me know. But I've heard that there's whispers of that, but it's an incredible opportunity. That's what got us started. I mean, $58 out of pocket to buy this house is incredible to turn it into $160,000 of equity. And of course COVID helped that, but. In Florida, met Charlie Cameron, who's one of my partners. He's in the war room, amazing guy. He's been on the podcast. Just absolutely incredible individual. One of my best friends and so grateful for him. We started dabbling in short-term rentals while I was there. And we were under contract on a couple of deals in Panama City Beach that we ended up backing out on for just silly reasons. And we could talk about that later if you want. But that... kind of opened the door for us for short-term rentals. And we ended up buying a home in Ella J. Georgia with another partner that we had a short-term rental out of that was quite successful, but we had just a lot of CapEx stuff that came up with that and just tended issues with it. It was a big home and lots of parties and really very rural area. And so it made it kind of difficult to find good cleaners and good handyman service providers. So we ended up selling that actually to a professional baseball player. And that showed us how forgiving real estate was because we made a great profit on that. And then we bought the dome property in Colorado. That's a short-term rental. It's very unique, which I think Airbnb is really pushing right now. VRBO is really pushing right now. Up in the mountains in Black Hawk, Colorado, we self-managed that on our own. And that's been awesome. It grossed about $100,000 the first year. and just cash flows like crazy. And it's been an amazing opportunity. Then we have our primary residence here in Colorado Springs that we house hacked the basement. And a shameless plug to house hacking, I'm a family medicine physician and I still house hack my house. So really anybody can do it. It's the most incredible way to get started. And it's really led us saving a lot of money to make these other investments into assisted living homes. And so really there's no excuse not to do it. We ended up digging out a walkout basement. to our basement. We rented out on Airbnb in the summer, makes about three to $4,000 a month. We rented out on Furnish Finder in the winter, it makes about 1500 to $2,000 a month. Our mortgage taxes and insurance are two grand a month. So we're basically living mortgage insurance and tax-free in Colorado Springs. It's incredible. So that's kind of a bit of our journey. And then of course the two assisted living homes that we've already touched on. So.

David Pere: Yeah, I absolutely love how Zach, I mean, this is my, my third, essentially the one that I'm standing in right now, right? My office in the basement here is, uh, paid for completely by the Airbnb that I'm standing

Dr. Alex Schloe: Yeah,

David Pere: under.

Dr. Alex Schloe: it's

David Pere: So,

Dr. Alex Schloe: incredible, yeah.

David Pere: yeah, including the high speed internet and utilities, which is nice. So, you know, good perk. Um, yeah, it's a great strategy. And I always hate when people are like, Well, you know, I could have, but now I've, and it's like, well, you still could. I mean, I get it. It's not as easy with family, but it doesn't mean you can't do it.

Dr. Alex Schloe: Yeah, absolutely. I got a two-year-old son and a wife. It took a little bit of convincing from my wife, but once I let her design the property, paint the mural of the mountains that we have down there in the basement, she was all for it and we love it. I mean, it's been really cool to meet different people from all over the country visiting Colorado Springs and it's been even better to get to save that extra money that's coming in.

David Pere: Yeah. Yeah. You just let her buy a pair of shoes every now and then. You're

Dr. Alex Schloe: Yeah,

David Pere: like

Dr. Alex Schloe: exactly.

David Pere: Airbnb paid for those.

Dr. Alex Schloe: Yeah, absolutely. Yep, tax write-off. Let's go.

David Pere: Yeah. Yeah. My conversation is like, I office didn't cost anything this month,

Dr. Alex Schloe: Exactly.

David Pere: so it could be worse.

Dr. Alex Schloe: Yeah,

David Pere: Yes,

Dr. Alex Schloe: yeah.

David Pere: I have a $450,000 house in Springfield, which is,

Dr. Alex Schloe: Ha

David Pere: you

Dr. Alex Schloe: ha!

David Pere: know, more than double the median home price. And this is like a class A plus neighborhood that

Dr. Alex Schloe: Hahaha

David Pere: I totally don't need. But it's like, This is like literally my office is the nicest house that I've ever bought as an investor. It's like the, you know, that you talk about, like I always talk about like, oh, don't buy like the nicest house in the nicest neighborhood because it'll never cashflow. Yeah. The one that is like not actually an investment is the nicest fanciest thing I've ever bought and we don't even live in it. And I'm like, I did that wrong, but it breaks

Dr. Alex Schloe: Yeah,

David Pere: even.

Dr. Alex Schloe: I mean, our basement's nicer than our whole house. That's what we rent out. Yeah, yeah, it's true. And same with the dome, same with the dome, you know? And I think you bring up a good point. It was a game changer once I got my wife on board for real estate investing and kind of figuring out what did she like about real estate investing was helpful. She really likes the hospitality that goes into short-term rentals. She really likes the design, the photography piece of short-term rentals. And that was a game changer once I got her on board, because then I had that support, you know, had her trust and understanding of like, hey, he's looking for the next deal, you know? And so I would encourage anyone who's really trying to get into that, think about how you can get your spouse involved. Maybe it's a different avenue of real estate investing that you don't necessarily want to do, but I'm telling you, it's a game changer. Now she's been really understanding with the assisted livings and she doesn't really want to be too involved with that. But we're still looking for unique short-term rental deals in the future. that she would love for those opportunities.

David Pere: Yeah, OK, so you mentioned something in there that I want to unpack just because I'm sure that there are listeners who probably aren't as well versed. Or I don't want to insult anyone's intelligence, but walk me through, A, the difference between the short term and the medium term furnished finder is still kind of a new concept. So maybe, I mean, everyone knows short term Airbnb, VRBO at this point in time, but maybe the difference between the furnished finder medium term But more importantly, I'm curious for the audience, what made you decide to do both strategies on the property at different times of the year, as opposed to just one or the other all in, or both just kind of throughout the year, if that makes sense.

Dr. Alex Schloe: Yeah, absolutely. Yeah, that's a great question, Dave. Yeah, short term rental, you know, of course, that's your Airbnb, Airbnb VRBO typically a couple of days stay sometimes longer, but typically, you know, a few days weekend, etc. We found that in Colorado Springs in the summer, you really crush on Airbnb and VR, you do, you know, amazing revenue during that timeframe in the winter, not as much Colorado Springs, there's not a whole huge winter attraction. We're about two and a half hours away from Breck and Keystone, where we hung out a couple months ago. So the ski resorts are pretty far away. There's not a big winter draw. And so we decided, hey, let's pivot to midterm rentals during this timeframe. We'll make a little bit less income, but we're guaranteed to get those bookings. And we had some slower months in November, and that was really what kind of prompted this. So I put our home on Furnish Finder. And Furnish Finder is... I'd say kind of like the Airbnb of midterm rentals, it's a little more basic. Basically you list your home and what you offer, and then the potential tenants are reaching out to you to see, hey, would they be a good fit? So it's a little bit more hands-on from the tenant screening perspective. We still run credit reports, and that can be done through Furnish Finder. We still run criminal background checks and so forth. And that's done through there, but you're typically looking at more of like a 30 day stay or longer for that. Right now we have a nurse who's renting out our basement as a midterm rental. She's been there since January 1st. She checks out April 29th. And so she's paying $17.50 a month. It's way more than we would have made during this timeframe as a short term rental. And so it was a good pivot for us. Benefits to midterm rental that I've realized we're not having to deal with cleaners coming in and out. We're not having to deal with that constant turnover. and wear and tear on the property. So it's been really nice to just have one tenant who's coming in and knowing, hey, she's gonna be here for this timeframe or guaranteed this income or not having to respond to Airbnb, VRBO messages. From a time freedom perspective, it's been awesome. I've been kind of contemplating in my mind, hey, should we just do that for the summer too? We're gonna make a little bit less money. But from that time freedom perspective and that return on time. It's been awesome to not have to deal with questions from Airbnb or VRBO or can I check in early, all these sorts of things, because we still have them sign a lease for that period of time. And so it's been nice. And so I think if you're willing to part with some cashflow, but increase your time, midterm rentals are a great option. If you really hustle for Airbnb, VRBO, short-term rentals, you're gonna make more cashflow for sure. You're certainly gonna be taking more time. to manage that property. And like I said, we've been self-managing these properties as well. And so overall, it's not a huge time commitment, but it's been nice to have that kind of removed while we're working on other projects like this as to living homes.

David Pere: Yep. No, OK, so that makes sense. It's kind of a seasonal thing. And then there's probably the perk, too, that you actually had imagined. I mean, it depends on the person, I'm sure. But you probably get to build kind of a relationship with the medium term when you're house hacking, whereas with the short term, I mean, maybe. Like when I had some short term when I was house hacking, sometimes. But. Also, sometimes you get some oddballs, whereas like the medium term, you kind of get to screen them out a little bit. And it's probably kind of fun too, to just get to know some people.

Dr. Alex Schloe: Yeah, absolutely. Yeah, you can form some good relationships with folks. And you know, I mean, we've had discussions as well about crazy short-term rental guests. And, you know, even though they might have that five-star rating on Airbnb, we still see some crazy stuff. We had a guest in Georgia who had like a bunch of five-star ratings. The house was a wreck. There was like blood in the sheets and the cleaner found cocaine. And so you just never know what's coming in, regardless of what that shows. And Airbnb, it's tricky because the guests can still review you. and you can still review them. And so, you know, if you're reaching out to them, you're like, hey, the house is a mess, I'm gonna charge you an extra 100 bucks or whatever it may be, you're always worried about, hey, are they gonna leave me a bad review? It's gonna cost me way more than that 100 bucks I'm charging them in the future by decreased bookings. And so it's this really weird dynamic. Of course, like they can't review you until you review them and vice versa, but it's still kind of this weird gray area that we've seen. And so that's... eliminated with the midterm rentals for the most part. I hop on phone calls with them to see, hey, are you going to be a good fit? My two-year-old son lives upstairs and my wife lives upstairs. I want to make sure that you're going to be a good fit for this timeframe. And then of course the background checks and the credit reports are helpful for that as well.

David Pere: must have a quality cleaner if they were able to, you know, identify what was left behind with confidence.

Dr. Alex Schloe: Well, I they you know, miraculously they clean the house in like half the time that time.

David Pere: Yeah,

Dr. Alex Schloe: So

David Pere: yeah,

Dr. Alex Schloe: who knows?

David Pere: yeah. They were like, yeah, they left some coke. Really?

Dr. Alex Schloe: Yeah

David Pere: How much? Uh, none. None, none, actually. But I cleaned the house in 30 minutes.

Dr. Alex Schloe: Yeah, we poured it down the toilet. Yeah. Yeah.

David Pere: Yeah, it's all gone. Also, your carpets are bald because I cleaned

Dr. Alex Schloe: Yeah.

David Pere: them with a scrub brush. What?

Dr. Alex Schloe: Yeah, in one spot only. Yeah.

David Pere: Yeah. Oh

Dr. Alex Schloe: Ha ha.

David Pere: my gosh, yeah. That's wild. Yeah, I've had a, yeah, you know, it's, yeah. Well, I won't publicly say the, some of the stuff there, but yeah, I've had a guest or two where like, I had one where... I came in the house and it was like, you know, like actually the night before the cop, my neighbor called the cops because of the noise. And this was before my new neighbor had my cell phone number. And they really weren't that bad. And it wasn't even after 10 o'clock. Like the cops just kind of showed up. They called me and the cops basically just said, like, Hey, keep it down. And like, whatever. So I didn't think anything of it. Cause the cops were like, they called me and they basically like, it wasn't anything too crazy. Like, okay, cool. And then they went inside and you know, the, the noise level at the place, cause I have a big like covered. open porch that like you can put poker on, it's got like two big ceiling fans, like nice lights, like it's a, you know, but, but if you're out there with 10 or 20 people, which it'll easily hold, it doesn't take much to be loud when you've got neighbors also outside. And so anyway, I was like, ah, okay, the police said it was nothing. So whatever. Now go back the next morning and it, and it looked like someone got tar and feathered in my house. They're black. boa

Dr. Alex Schloe: Oh

David Pere: feathers

Dr. Alex Schloe: god.

David Pere: all over the place and like bong. There's a bong left in the house and like just, you know, and like whatever. And I'm just like, dear Lord, like,

Dr. Alex Schloe: Hahaha!

David Pere: I know you're not supposed to have cameras in the house, but sometimes it would be convenient to know what happened.

Dr. Alex Schloe: Yeah, absolutely. Didn't you have a guy, Dave, who came in a day early and started making waffles in your Airbnb?

David Pere: Yeah, yeah,

Dr. Alex Schloe: Pancakes, yeah.

David Pere: yeah, John that was when I was house hacking bedrooms. John texted me and was like, I thought we didn't have a guest. I was like, yeah, we don't have anyone till tomorrow. He's like, there's a dude in the kitchen making pancakes. And I was like, huh? And sure enough, like this dude. And then and then of course, he leaves a he went to leave a review and the review was like, you know, obviously like one or two stars. And it was like, you know, bedroom like like house wasn't even clean bedroom wasn't like bed wasn't made, you know, and I'm like, I left a response and was like, your check-in was Wednesday. You showed

Dr. Alex Schloe: Ha ha.

David Pere: up on Tuesday. The previous guest hadn't even checked out yet. Um, yeah, sorry. Um, but the

Dr. Alex Schloe: Yeah.

David Pere: problem, you know, it was just like, I was still running it out of like my house at the time. And so I just had like a key code on the garage, and it wasn't one that automated changed because it was just whatever. And yeah, so this dude booked and then showed up 20 minutes later. I don't know what he was doing. He's making pancakes. I was like, what the heck? I'm working on my skiff, and my roommate calls the skiff. He's like, bro. I was like, uh, yes, sorry. Yeah. But my, yeah. all kinds of, but the one that's got me still like baffled that I wish I knew the answers to is, I mean, I've got a bunch of like odd ones, but like the weirdest one, I mean, I had the one with like the lady like Jess, who was like a terrible, that like left me a voicemail that I've had content about that's just hilarious, but there was one here and Yeah, you know offline we could go into way more details about

Dr. Alex Schloe: Ha

David Pere: the three

Dr. Alex Schloe: ha.

David Pere: really bad Springfield guests that I've had but but this one like I'm just baffled. So, okay, so I'll paint the picture for you, right? It was another Kind of like noise complaint, but the neighbor called me They didn't really like complain and I just texted the guest was like hey you guys gotta keep it down I'm like no big deal and then the neighbor text me he's like You know, hey, there's a lot of cars. I'm like, alright, whatever Maybe they're throwing a party, but it wasn't too bad. And so I text him like not me I were Whatever, I'm like, OK, cool. Noise dies down, no big deal. That's a big house, two car garage. So they leave, and like, the house itself is clean, but it smells like engine degreaser, like just straight reeks of like paint thinner, degreaser, and I'm like, like a meth lab. Like I just imagine like something, like I'm just like, what in the world? But it was like a two day stay. And I'm like, oh my gosh. And then on the back porch is an oil pan with an oil filter in it. And like not really used oil, but like something, and I'm like, well, that's weird. And in the garage is another oil filter and like an oil pan and then like a can of like brake cleaner and like engine degreaser. And like, and I'm like, okay. Like it's not like they were cooking meth. It's definitely like vehicle related crap. All right, well, this is weird. So there was something else that went down and they took all of the Tide Pods and detergent, like anything, they were local. And you're supposed to request to stay if you're a local guest and not just book for this reason. But they took all the things that you could just reuse, like all the detergents and cleaning supplies and toilet paper and paper towels, like any of that stuff they took with them when they left, because I just restocked, it was all gone. My box of like, you know, the little individually wrapped bars of soap all gone.

Dr. Alex Schloe: I'm out. Bye.

David Pere: All my K cups, K curing, K cups all gone. Like, you know, all the stuff's gone. I'm like, OK, they cleaned me out of house and home. Cool. All weird. All of this is weird. But then I talked to my neighbor and my neighbor is like, bro, I don't know what was going on over there this weekend. But when I told you about cars, he's like, it wasn't cars. It was three trucks. with full-sized like race car trailers and they rolled cars into your garage. And all I can think is that these motherfuckers rented my Airbnb and ran a fucking chop shop operation out of my Airbnb

Dr. Alex Schloe: Yeah.

David Pere: and rolled out. Like somebody came in with stolen cars and just like tore them down and pulled out. And I'm just like, I don't know. Like someone probably lost their Ferrari at my house and we'll never know. This

Dr. Alex Schloe: That's

David Pere: is just

Dr. Alex Schloe: wild.

David Pere: ridiculous.

Dr. Alex Schloe: Yeah, and they took all your stuff and they didn't even make pancakes. So it's like,

David Pere: Yeah, I

Dr. Alex Schloe: come

David Pere: mean, yeah,

Dr. Alex Schloe: on.

David Pere: I have no idea. So yeah, some weird, weird stuff, you know? But then if you think,

Dr. Alex Schloe: Yeah, absolutely.

David Pere: man, so okay, so all right. So how did you get into assisted living? Like, where's the, are you done short term? Like, what's the, is it just like a new venture? Like, what was the, where'd your eyes open to this? I mean, this isn't something that a lot of people talk.

Dr. Alex Schloe: Yeah, great question. That was a good tangent that you had. I enjoyed that. They don't wanna come steal cars at our property. But anyways,

David Pere: I'm sorry.

Dr. Alex Schloe: yeah, so, is this a living? Yeah, doing a shameless plug, honestly, again for the war room, absolutely incredible. And I guess it's not shameless since you're the one that created it, but it's been incredible from a networking

David Pere: We can be shameless,

Dr. Alex Schloe: perspective.

David Pere: I'll let it.

Dr. Alex Schloe: Yeah, yeah, absolutely. Charlie Cameron and I have been partners on multiple short-term rental deals and we started the assisted living. My other partner Luke is in the squad with me. So, every Tuesday night we start, we have those meetings and we talk about what we're working on and then of course the hot seat. One hot seat Luke came on and he's like, hey guys, I think I'm going to buy an assisted living home. And that was really it. And then he explained his reasoning behind that. And then I think two weeks later he's like, yeah, so I'm going to contract on an assisted This was probably late 2021, maybe early 2022. And he explained the process behind it and him and I offline talked a lot about it. And then we decided, hey, we'd probably be a good fit. And so we started talking more and more about assisted living homes. And I really dove deep into some podcasts. I think Bigger Pockets had Isabella Gorino. I might be saying the name wrong, but they have the Residential Assisted Living Academy and some resources there. Her late father started. And so learned a lot through that and through some other podcasts and just dove into it. Is it going to be a pivot for us? Yeah. I think we're going to focus largely on assisted living homes, really for that passivity piece, for the cashflow piece, and for the opportunity in the future to maybe own the operations as well. Short-term rentals, we're still looking for unique short-term rentals. I think it's really hard right now to succeed in the short-term rental space unless you have a really unique property or a fantastic view. everyone wanted to get into the Airbnb market, short-term rental market. And so there's just so much saturation in a lot of areas that you just need to stand out. There's some ways to do that. Certainly, you know, having great photos and excellent furnishing is helpful, but they're really pushing this unique stay, unique experience, Instagrammable experience. And so I think from a short-term rental perspective, we'll continue investing in that, but it needs to meet that criteria. main focus for me, honestly, kind of the one thing for me right now is gonna be assisted living.

David Pere: Yeah. And that makes sense. And it also makes me realize I need to revamp some of my photos for my Airbnb, because I'm thinking, man, the one out the back porch doesn't really showcase my nice little field that I. So the backyard is a flood zone, and so they can't build. So while I'm in a really nice neighborhood in the middle of the southeast corner of town, There's a full probably 5 to 10 acre plot just can't be built on. A nice grass field that we get like deer and turkey and whatever with a view right out the back porch. And I am realizing like, yeah, I have a nice view out the back, but the focus is the porch. And I should take the exact same picture and reframe the focus to be the porch blurred and the view.

Dr. Alex Schloe: Yeah, absolutely. That'll help just get you more bookings for sure. Yeah.

David Pere: Zoom in a little deeper.

Dr. Alex Schloe: There you go,

David Pere: Do it like

Dr. Alex Schloe: yeah,

David Pere: cross,

Dr. Alex Schloe: Photoshop

David Pere: put

Dr. Alex Schloe: one

David Pere: like

Dr. Alex Schloe: in.

David Pere: crosshairs on the picture.

Dr. Alex Schloe: Yeah,

David Pere: Like you can

Dr. Alex Schloe: only

David Pere: hunt out

Dr. Alex Schloe: use

David Pere: the

Dr. Alex Schloe: that

David Pere: back

Dr. Alex Schloe: for

David Pere: window.

Dr. Alex Schloe: hunting season. There you

David Pere: Yeah,

Dr. Alex Schloe: go.

David Pere: except

Dr. Alex Schloe: Hey,

David Pere: rifle

Dr. Alex Schloe: I'd book

David Pere: season

Dr. Alex Schloe: it.

David Pere: here is only like a week.

Dr. Alex Schloe: Oh man, yeah, Colorado's got weird hunting stipulations. Yeah, for us, it was like two weeks. For deer season, for rifle, you gotta put in for tag. It's really competitive, yeah. Way different than Virginia. It's like months and anyone can get a license. So yeah, definitely different from that perspective.

David Pere: Yeah, it's a whole weird game for sure. But yeah, oh well. I mean, you just have a 14-year-old who doesn't know what he's doing and then you're like, whoops. It's not really. It's never happened, but.

Dr. Alex Schloe: Yeah, point it forward, son.

David Pere: Yeah, no, no, no. All right If somebody wanted to get into residential assisted living like you mentioned the residential assisted living Academy, but like What kind of resources are out there or what would you write like when you first started getting into this what? Like how did how did you research this? What would you recommend to someone trying to research this right now?

Dr. Alex Schloe: Yeah, no, that's a great question. There's really not a whole lot of resources available, to be completely honest. I mean, there's the Residential System Living Academy, to be frank, it's pretty expensive and semi-basic if you have real estate investing experience. I did pay for their course and it was helpful to some degree, but I think if you have that real estate investing experience, maybe not necessarily worth it. I'm trying to provide some education as much as possible for folks. I do think it's an incredible opportunity in real estate. Those are the big things. I spend a lot of time just searching through podcasts and Apple and typing in residential assisted living and seeing what came up and then listening to those podcasts and pieced together as much information as I could from that. Then certainly having a medical field experience can be helpful at understanding how these things operate and who. makes good clients and good residents for these homes was helpful as well. But yeah, honestly, there's not a lot of great resources available for residential assisted living homes.

David Pere: Yeah, it's not something that I had even really heard about until, at least not on this scale, right? Like the big facilities, okay? But the first time I even heard about it at this scale was essentially at another warroom guy, Travis, when he asked me to go walk a property for him to see if it seemed decent here locally. But I didn't know anything about how everything panned out. And at the time, it was like, eh. But hindsight, being 2020, now I'm like, ooh, man, I should have jumped on that property. At the time, it was like, eh, these prices, maybe. Because it was kind of like a detached duplex with, maybe this, maybe that. But now that part of town is, man. even if he hadn't done residential assisted living, he'd probably be double up on that house right now. But, you know,

Dr. Alex Schloe: Yeah.

David Pere: who knew what the market was going to do.

Dr. Alex Schloe: Yeah, for sure. Hindsight's 2020. Travis is a great guy. We've hopped on a couple calls and talked about some assisted living opportunities together. And yeah, it's, you know, it's, it's a unique asset class for sure. I don't think it's for everyone and it is definitely harder than I've made it sound. But the opportunities are really there. And, you know, it was interesting. I went to a bigger pockets meetup in Denver a couple months back and ended up talking to David Green for probably 20 or 30 minutes. And it was funny because Really, I just straight up asked him, I said, Hey, David, how much do you hate events like this? Because we all know that listen to it. He's an introvert. He doesn't like those big get togethers or meetups and talking to a ton of people. And he's like, honestly, it's not necessarily my favorite thing, but it's still a great opportunity. We ended up talking about some other medical stuff and all kinds of different things. We probably get 15 minutes, 20 minutes into the conversation. He's like, hey man, do you have any real estate questions for me? And I was like, not really, I'm just happy to chat with you. And he gave me a big high five and then he's like, well, what are you working on? And so we talked about residential assisted living and David Green said, you know, that's an incredible asset class, but just so hard to get into. And part of me was really happy to hear that because we all know the bigger pockets effect that happens with these different locations that get mentioned, different types of asset class that gets mentioned. And he's not wrong, but the opportunity is there if you just put forth the time and the effort. that I think there's so much untapped potential. It was encouraging for me to hear David Green say, hey, you know, this is difficult to get into, but a lot of potential. And so I think that really kind of sums it up well. If you're willing to put forth the time to find a real attorney who specializes in these residential system, living homes is able to help you find operators, bring in operators to interview, and you can find these deals that are licensable. It's certainly possible in the opportunities and the cashflow is incredible. Even if you just lease that out. We haven't really talked on the operating piece, but you can expect an incredible amount of cashflow if you're willing to own the operation business as well. I mean, these transitional homes are doing $60,000 a month, roughly, for the operators and their expenses are minimal, minus the lease, their transportation to the clinic and maybe some food here and there, but they're pocketing probably, over half of that $60,000 that they're pocketing on these homes. So. That's kind of next for us is figuring out, hey, how can we also own the operation as well while also not constraining our time as much? Because it's like you've said before, Dave, it's your return on time is so important. My family is so important to me and spending time with them, quality time with them is so important. That's why I work so hard for real estate, for the opportunities in the future that will afford for me to spend more time with my family going forward. So anyways, long rant there, but But yeah, it's great. We love it.

David Pere: Yeah, I mean, I'm sure there's a lot of complexities that go into the ops side that we're not aware of. But I mean, there's like you said, at 60 grand a month, there's a lot of wiggle room for complexities for sure. So to, you know, not pivot at all and stay completely in the exact same conversation. Before we started recording, we'd mentioned that we wanted to one of the things we'd like to touch on. at some point was mental health, which is, you know, actually not as big of a pivot as I'm making it sound when we're touching on transitions, transition homes and assisted livings. I'm sure the transition home side has a lot to do with mental health, but so there's, you know, it's all kind of medical stuff, right? It's not a huge pivot, but anyway, I'll just shut up and stop rambling, but

Dr. Alex Schloe: Ha ha.

David Pere: I know that was something you wanted to touch on, so I. I figure I'll throw it in there, make sure we hit it.

Dr. Alex Schloe: Yeah, absolutely. You know, and I think with these homes going back to kind of work your transition a little more, we're trying to provide A-class homes, awesome opportunities for these people to transition back into society and, you know, form relationships, get great jobs and great opportunities to impact their community for a positive impact in the future. Mental health, yeah, I mean, as you said, family medicine, physician, the Air Force, I see a lot of patients with anxiety, depression, PTSD all the time. And honestly, I don't think a clinic half day or day has gone by, haven't seen someone for anxiety, depression, or started them on anxiety or antidepressant medication. And I think that stigma still exists in the military. I think it's improving, but there's still a long way to go. And a lot of times I have patients, especially male patients, to be honest, that come to me and they're like, Hey, this was really hard. Yeah, exactly. This is really hard to just book this appointment and be willing to bring this up in any capacity with you. And so I think as providers, I always try and do my best to like, hey, I know this is a really difficult discussion and I really appreciate you coming to me and trusting me enough to talk about this because it's so important. And we've all heard of 22 Intel 9 and unfortunately at Shrever where I'm stationed, we just had a suicide a few weeks back of a security forces officer. This has touched everyone and will continue to touch everyone. And I think we just have to have the courage both as patients to talk to our providers about this and ask providers to be as accommodating and open as possible to have this conversation. So that's something I've been really thinking about lately. And we've seen a huge spike with COVID. We all know the impact of loneliness and isolation on mental health. And like I said, now in a day has gone by that I haven't started someone on an antidepressant or anti-anxiety medication. But I'll tell you what, other than side effects, I've never had a patient come back to me and say, this was a bad decision, or I wish I didn't come talk to you. All of them have been like, man, I wish I came and talked to you a couple years sooner. I wish I started this medication sooner. This has been a huge game changer for me. And so I think it's just something for the community to think about, you know? If you're struggling with anxiety, you're struggling with... depression, you're struggling with mental health in general. I'm a PCM, everyone's got a PCM. Come talk to them, come find them. There's tons of different ways that we can help you and we're here for you. I mean, gosh, I'd do anything for my patients and I hope they know that. I always tell them, if you have any thoughts hurting yourself, hurting anybody else, go to the ER, come find me. And I genuinely mean that. Come find me and I'd be more than happy to do anything I can. So again, Just make the appointment, have the willingness to talk. We're there for you.

David Pere: Yeah, I agree wholeheartedly. You know, and I don't know that you and I have talked about this really. I don't know that I've mentioned it publicly much for, I would say, somewhat obvious reasons, but just to maybe bring some of that home. Well, for one, you know, when we were in Keystone, I got a phone call while we were hanging out of that Airbnb that one of the guys I had deployed with played the old suicide by cop game that very weekend, not very far from where we had been at. So it's definitely a very realistic thing. Not the first person that I had deployed with in that platoon who is no longer with us, unfortunately, for their own personal reasons, decisions. And but, you know, I think, I mean, I think part of it's like the messaging in the military. And I don't mean like the macho, oh, nothing's wrong. You can't go talk to. But I don't even know that people realize all the time that they're actually dealing with. an act like an actual PTSD symptom or depression or whatever until it's way further down the road than it could have. Because like the military, you know, when I think back through all the years that I was in the military, what I always sat through were presentations and conversations that were like, Hey, don't beat your wife. Don't drink and drive. Uh, don't, don't hurt yourself. Uh, if you think you're going to hurt yourself, you know, talk to someone. If you see someone giving away all their stuff or, you know, like those were the conversations, right? Like if they've beaten their wife or whatever, like that was the science for PTSD. Cool. I didn't beat my wife. I didn't get a DUI. I didn't give away all my crap and I didn't want to kill myself. I don't have PTSD. And I got out of the Marine Corps and like I got blown up in 2010. I drove over an ID. It wasn't anything too crazy, but you know, it was whatever. And get out of the Marine Corps and transition happens and I have no identity. You know, you can go through all that stuff. And even though I had a really strong community that I'd built and I'm financial freedom and all this stuff, and I think I'm going to be good. Man, like, we won't go too far in the weeds on all this, but like a lot of stuff all happened at once. You know, I ran a half iron in August, it was 215 pounds, started training for a full iron. And so I'm doing 12 to 15 hours a week cardio, and I went from 215 to 245 in four months while doing 12 to 15 hours a week of cardio and not much changing on my diet. Not sleeping, don't feel like a man anymore. Like something is not right. So I go and I get checked. My test is like 170, 165, 162, something like that. And I'm

Dr. Alex Schloe: Yeah.

David Pere: like, well, this is off. So I started doing all this research and I find like a Joe Rogan podcast and another one and another one. I started doing like more and more and more homework and I just go down this fricking rabbit hole. And then there's like, now I find all this stuff. It's like, oh yeah, hey, if you had a TBI that can be linked to PTSD, which, okay, cool, whatever. But like. then there's all these other symptoms of things that like, you go down this rabbit hole and it's like, well, PTSD can be this or it can be this or it can be this or it can be this or it can manifest like this. And like, it wasn't until I sat down with the therapist and or a counselor or whoever you wanna talk to and the person was able to say, cause we get all those questionnaires in the military. It wasn't until I sat down with someone who was able to sit. instead of just a question and answer thing and you say yes, no, one through five, whatever on your own, and they go, here's the question, before you answer it, this is what that would look like or feel like in a normal daily setting. And I go, oh shit, yeah, every fucking day.

Dr. Alex Schloe: Mm-hmm.

David Pere: Like, and it was just like, holy shit. And like a perfect example, I had like a freaking borderline meltdown like two days ago we show up at my My kid at his first baseball like code pitch kid pitch baseball game on Monday and Just a really poorly run event right you show up and it's like this We don't need to go into all the details, but basically it was just a terribly run event They started 20 minutes early, so I like made it just as they were starting And like the way that it was set up, it was like, there wasn't seating. It was like, you had to have brought a chair, but we didn't know that. So we didn't bring a chair. And then like, there was nowhere to, no way to get on like the sidelines. So you had to like stand in basically on the other side of the outfield. And then because my wife had gotten there just a little bit early, she was over like helping coach, so I'm standing in the outfield and like, I'm not from. This part of the, like the state, you know? So like. I didn't go to school with any of these parents. And so Jackson's still young enough. I haven't met all of the kids' parents. So I don't know any of the parents on the team yet. So I find myself standing in the outfield, like the other side of the outfield, surrounded by probably 50 to 100 parents and kids. And I don't know, a single person. And my wife's like... the other side of the baseball field. And I met my kids like first kid pitch game. And it was like the weirdest, like most like isolated, just like I'm completely alone, like feeling. And like all that to say, I just felt like I should throw all that out to just drive home. Like I'm in a lot of people's eyes, quote, successful and fucking dealing with a lot of that stuff sometimes, you know? And it's like, and I told my wife, I was like, she got done, she's like, what's wrong? I was like, I just had some really dark thoughts and they scared me. And I was like, and I'm totally fine. Like nothing's gonna happen. But I was like, it's really weird. I have a really, really, really big, strong network full of people that love me and not a single one of them is here.

Dr. Alex Schloe: Mm-hmm.

David Pere: And I just wanted to be next to someone. And I felt like utterly alone. And

Dr. Alex Schloe: Yeah.

David Pere: it's just, yeah, anyway, so all that being said, like, man, it's a weird beast. Cause you're like, oh, like for like 10 years, I was like, I don't drink or drive and I don't beat my wife. I'm good. And then I get out of the military. And it was like, I just crumbled for like six months. I was a wreck. But I went and talked to someone and started getting some, you know, I got on TRT. which helped me feel like a fucking man

Dr. Alex Schloe: Mm-hmm. Ha

David Pere: again. And

Dr. Alex Schloe: ha.

David Pere: then I started talking to a therapist and just understanding what some of those triggers were for why I like, like, why am I so upset? I just, like, I just need to get out and hang out with a friend. Like, that's it. That's all I need to do. And life's

Dr. Alex Schloe: Yeah.

David Pere: much better now.

Dr. Alex Schloe: Yeah, Dave, thanks for sharing that. I mean, that takes a lot of courage to share that with the community. And yeah, you hit on a big piece that I think goes sometimes unnoticed, and that's that isolation piece, that loneliness piece. Gosh, if that's you and you're listening to this, just, yeah, reach out to a friend, reach out to your provider, reach out to whoever you have to surround yourself with people who are going to love you, support you and be there for you. And that's going to be a game changer. And gosh, I mean. That's hard to do in that situation. And I think you hit on a huge point that's so important. Like this is not something that anyone's immune to based off their social status or net worth or occupation. We all suffer with this. It's part of human nature. You know, and I've struggled with anxiety, you know, and I'm a physician. And so we all deal with this. It's just how we handle those emotions. And also knowing there's people there who really do care for you. Contrary to what you believe, your brain, your mind's going to tell you, you're alone, you're isolated, nobody cares for you, all these dark thoughts. You got to train your brain to realize that's not necessarily true. There are people here who care for me. There are people here who would be devastated if I were not here anymore. And so, uh, you know, I think that's really the piece to focus on and how, gosh, man, thanks for sharing that. That was powerful.

David Pere: Hopefully it helps someone, right?

Dr. Alex Schloe: So it's all about.

David Pere: So on that super happy note, what do we miss? Anything else we should cover before we wrap up?

Dr. Alex Schloe: Man, no, I think that was great. I hope you had as much fun as I did and just appreciate being on here. Appreciate any conversation with ya.

David Pere: dude, it's always a good time to talk and we're going to chat tomorrow or whenever about

Dr. Alex Schloe: Yeah.

David Pere: you starting a podcast and where can people get ahold of you if they want to learn more, when they want to learn more about all this.

Dr. Alex Schloe: Hey, yeah, that's awesome. I appreciate it. Yeah, you can find me on Facebook, Alex Shalow, Instagram, AShallow3 or Physicians and Properties. I am kind of trying to build out a community for physician real estate investors to learn the power of real estate and how that can provide the freedom to practice medicine how you want and live life how you want. So working on that, that's what we were talking about from a podcast piece, physiciansandproperties.com on there. There's a free short-term rental furnishing guide on physiciansandproperties.com. Anyone can grab it. So feel free to get that if you're interested in furnishing a short-term rental, it could be a helpful resource for you. But yeah, happy to chat about anything. So don't hesitate to reach out to me, DM me, whatever you gotta do.

David Pere: Definitely. Yeah, definitely go grab that rental, that short-term rental furnishing guide. Anything Alex puts out.

Dr. Alex Schloe: Thanks, man. Appreciate it.

David Pere: Always a pleasure getting to hang out and chat with you. So

Dr. Alex Schloe: You too,

David Pere: thanks

Dr. Alex Schloe: brother.

David Pere: for joining

Dr. Alex Schloe: Thank you.

David Pere: man

Dr. Alex Schloe: Absolutely appreciate the opportunity.

David Pere: Of course, of course. And look forward to the next time we get to hang out.

Dr. Alex Schloe: Absolutely, man. Hopefully soon. Maybe a missile silo again. We'll see.

David Pere: that I hear the rumblings that that might just happen. I don't know. We'll find out.

Dr. Alex Schloe: Awesome. Looking forward to it. I'll be there.

David Pere: Yeah.

Dr. Alex Schloe: I bet I-

 

Dr. Alex Schloe on the Military Millionaire Podcast

Episode 212

Dr. Alex Schloe

Ever thought about juggling a demanding medical profession while securing financial freedom through real estate? If that's a hard puzzle you've been trying to crack, this episode of  From Military to Millionaire is just what you need.

Joining us is Dr. Alex Schloe, who's not just a family medicine physician but also a successful real estate investor. Currently serving in the United States Air Force in Colorado Springs, Alex has managed to make strides in the real estate industry, revealing that you can indeed have the best of both worlds.

As Dave interviews Alex, they delve into how he embarked on his real estate journey. He shares his experiences investing in various types of real estate, including assisted living homes and both long-term and short-term rentals. His path, motivations, and learnings along the way paint a realistic picture for physicians who might be contemplating a similar venture.

However, their conversation isn't solely about real estate investments. A significant part is dedicated to discussing the mental health of physicians. As someone entrenched in the medical field, Alex shares his insights into the pressures that come with it, offering strategies for maintaining mental well-being while also pursuing a challenging career. It's a conversation not just for those in the medical field, but anyone balancing high-pressure jobs.

Alex also extends an invitation to his Facebook community, Physicians and Properties, where like-minded physicians can navigate the path towards financial freedom through real estate investing. And for those looking for more, keep an ear out for the upcoming Physicians and Properties Podcast, where Alex plans to reveal more about the world of physician real estate investing.

As you tune in to this conversation between Dave and Alex, prepare to explore how you can excel in your medical career, venture into real estate, and manage your well-being all at once. It's about defining your own path and pursuing what matters most to you, and we hope this episode is a helpful step in that journey.

What You’ll Learn:

  • What is the secret to Dr. Schloe's success in both medicine and real estate?
  • Why did he choose to invest specifically in assisted living homes?
  • How does ‘house-hacking' work and what are its benefits?
  • Why did he choose to invest in mid-term rentals?
  • What strategies does he use for risk management in his real estate investments?
  • How has real estate investing influenced his medical practice?
  • What practical solutions does Dr. Schloe offer for overcoming loneliness, depression, and stress?
  • And much more!

Favorite Quote:

“The journey from physician to real estate investor isn't just about building wealth, it's about constructing a life that you find rewarding.”

           – Dr. Alex Schloe

How to Connect:

If you've enjoyed hearing from Dr. Alex Schloe and want to connect with him, there are several platforms where you can do just that. 

For insights into his daily life, check out his Instagram page. If you prefer professional networking, you can find him on LinkedIn where he regularly shares his thoughts on medicine, real estate, and balancing both. 

If videos are more your speed, subscribe to his YouTube channel for more detailed discussions on investing and the physician lifestyle. For more comprehensive information, you can visit his website

And don't forget his Facebook group, Physicians and Properties, a thriving community where physicians can learn more about real estate investing. 

Whatever platform you choose, Dr. Schloe is there, ready to share his journey and guide fellow physicians toward financial freedom.

The links are below:

 

https://www.instagram.com/aschloe3/?hl=en

https://www.linkedin.com/in/alexander-schloe-md/

https://www.youtube.com/@physiciansandproperties

https://physiciansandproperties.com/

https://www.facebook.com/groups/physiciansandproperties

 

 

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My name is David Pere, I am an active-duty Marine, and have realized that service members and the working class use the phrase “I don't get paid enough” entirely too often. The reality is that most often our financial situation is self-inflicted. After having success with real estate investing, I started From Military to Millionaire to teach personal finance and real estate investing to service members and the working class. As a result, I have helped many of my readers increase their savings gap, and increase their chances of achieving financial freedom!

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THIS SITE IS INDEPENDENTLY OWNED AND OPERATED. ALL OPINIONS EXPRESSED HEREIN ARE MY OWN. THE VIEWS EXPRESSED ON THIS SITE ARE THOSE OF THE AUTHOR OR THE AUTHOR’S INVITED GUEST POSTERS, AND MAY NOT REFLECT THE VIEWS OF THE US GOVERNMENT, THE DEPARTMENT OF DEFENSE, OR THE UNITED STATES MARINE CORPS.

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