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2023 Year End Review with Dr. Alex Schloe · Physicians and Properties

• 0:00
  So we learned how important it was to have an operator who has a large amount of cash returns and also The importance of vetting these operators and the importance of understanding, Hey, these things can happen.
• 0:11
  So it's definitely a learning experience.
• 0:13
  We're really happy to say that we were able to get an incredible operator to take his place.
• 0:18
  Alexander: Welcome to the Physicians and Properties Podcast.
• 0:23
  Alexander: The show where we teach you how investing in real estate can give you the freedom to practice medicine and live life how you want.
• 0:32
  Alexander: Doctor! Doctor! Doctor! Doctor! Doctor! Now, here's your host, Dr.
• 0:38
  Alexander: Alex Schlo.
• 0:42
  Hello everyone.
• 0:43
  And welcome to another episode of the physicians and properties podcast.
• 0:46
  As always, I'm your host, Dr.
• 0:47
  Alex Schloe.
• 0:48
  And I am so glad that you're here today.
• 0:51
  It's December 24th, 2023, Christmas Eve.
• 0:55
  And I am recording a 2023 year in review podcast episode to share with you all.
• 1:01
  Bill Gates once said, most people overestimate what they can do in one year.
• 1:05
  And underestimate what they can do in 10 years.
• 1:08
  Well, I tell you what, I think I underestimated what we could do in one year.
• 1:13
  It's been an incredible year and it's been really fun to look back over the journey this year and see some successes and failures and life lessons that were learned this year, and I am excited to share some of those with you.
• 1:25
  So thank you so much for listening.
• 1:27
  Thank you so much for subscribing to the Physicians and Properties podcast.
• 1:31
  And if you haven't, go ahead and do that.
• 1:33
  Leave a great review of really appreciate it.
• 1:35
  That's how a podcast grows.
• 1:37
  So I've decided to break this episode up into three different parts.
• 1:40
  We're going to talk about real estate.
• 1:42
  We're going to talk about life, and we are going to talk about physicians and properties.
• 1:46
  You might notice that work is missing.
• 1:49
  That's okay.
• 1:49
  It was a great year of work.
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  It was an incredible opportunity to take care of tons and tons of service members.
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  And I am so grateful for the opportunity and so grateful for that community and so grateful for the colleagues that I work with.
• 2:03
  So we're going to hop right into real estate.
• 2:05
  This year has been a whirlwind.
• 2:08
  Have focused solely on residential assisted living homes.
• 2:11
  And this year alone, we purchased three residential assisted living homes.
• 2:15
  Two were transitional living homes and one was a memory care home.
• 2:19
  We decided that this year we were also going to take the leap.
• 2:24
  And raise money from investors to purchase that memory care home.
• 2:28
  And I'm happy to say that we were able to offer the opportunity for investors to get a stable, steady, double digit return backed by real estate.
• 2:36
  And we were able to raise 200, 000 towards the purchase of that memory care home guys, raising money for a deal was a huge fear of mine.
• 2:45
  And it should be, it should be a fear.
• 2:47
  You should be worried about this because it is such a humbling experience for someone to trust us, to trust me with their money, that they worked so hard for and trust that we're going to be able to provide them the returns that are going to continue to grow their portfolio and impact their life and generations to come.
• 3:04
  It has been.
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  Such an honor.
• 3:06
  And I'm so grateful for the opportunity to do that.
• 3:09
  And don't worry, we're going to have some more investment opportunities soon.
• 3:12
  So if you're interested in that, just reach out to me and let me know.
• 3:15
  This year was also another year of first we invested in our first syndication, a 210.
• 3:21
  Mobile home park portfolio in Florence, South Carolina, and really excited to see what comes out of that as a huge value add opportunity with some general partners who are amazing.
• 3:31
  So stay tuned, definitely be sharing more about that throughout the year, next year in 2024.
• 3:37
  Real estate.
• 3:38
  It's not easy.
• 3:39
  There's challenges that happen and there were definitely some challenges that happened throughout the year.
• 3:44
  And I want to share some of those with you.
• 3:46
  Our biggest challenge that we've had this year was one of our transitional living homes in Arizona.
• 3:52
  We actually had an operator who stopped paying.
• 3:54
  We ended up having to ultimately evict this operator.
• 3:57
  And what had happened was Arizona, the state, has a program called ACCESS that then funds the intensive outpatient programs that then pay the operators of these homes.
• 4:08
  There's a lot of fraud that has happened throughout and they essentially stop payments to operators.
• 4:14
  Now, our operator wasn't involved in any of the fraud, but unfortunately he was operating multiple homes and his payments just stopped and he did not have the cash reserves to continue to pay appropriately.
• 4:25
  So we learned how important it was to have an operator who has a large amount of cash returns and also The importance of vetting these operators and the importance of understanding, Hey, these things can happen.
• 4:36
  So it's definitely a learning experience.
• 4:38
  We're really happy to say that we were able to get an incredible operator to take his place.
• 4:43
  And that home has been transitioned into a behavioral home for kids with disabilities, which is such a cool niche and such a cool service that our operator provides to these kids who need it most.
• 4:53
  And so we're really grateful for that opportunity.
• 4:56
  Fortunately, our other two homes are doing fantastic and performing, as they should be.
• 5:00
  So we're happy about that.
• 5:02
  If you've been listening, along as well, you know, we've got some short term rentals.
• 5:05
  One of those is a short term rental geodesic dome property up in the mountains.
• 5:11
  And the Rocky mountains in Colorado here.
• 5:13
  And, one story that stands out is we actually had the power go out at that geodesic front dome property.
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  And the temperature was in the twenties.
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  Wind chills were lower than that.
• 5:23
  We have a whole house generator that for some reason didn't kick on in this home.
• 5:27
  It's in a really rural area in Colorado.
• 5:30
  I was really worried about our guests that were there, called them, talked with them multiple times.
• 5:35
  We had someone come out and try and see, hey, was there a fuse that was tripped?
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  Is there something else that's going on electrically in regards to the house?
• 5:42
  that may have caused the power to go out, but really, it was an issue with the transformer down the road.
• 5:48
  However, I was really worried about these guests.
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  And so I called them and I offered to put them in a hotel for the night.
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  So we knew, hey, they're safe.
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  They have heat.
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  you know, and I thought for sure they were going to take us up on that opportunity.
• 6:00
  Well, they were really excited to stay at the dome and they were so gracious to us.
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  They.
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  We're excited to have the opportunity to stay, build a fire in the wood stove in the living room.
• 6:09
  And they were like, Hey, no worries.
• 6:11
  We're just going to camp inside the dome in the living room.
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  And they just pulled the mattresses in, slept there.
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  They stayed warm.
• 6:17
  They had an amazing time.
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  And they even left us a five star review, which was awesome.
• 6:21
  And we just love the opportunity to host incredible guests at that property in Colorado.
• 6:27
  And we're so glad that fortunately the heat came back on, a few hours later and they had a great time and everyone was safe.
• 6:34
  Open range capital is our assisted living company, and I'm so fortunate to have 2 amazing partners, Charlie and Luke.
• 6:40
  We also created a Facebook group.
• 6:43
  This was definitely a win for for the year.
• 6:45
  And this just actually happened a few months ago.
• 6:47
  We created a Facebook group, a Facebook community for residential assisted living.
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  Investors, operators, realtors, caregivers, and franchises in an effort to build a complete community full spectrum to help folks get started in residential assisted living investing.
• 7:05
  There must be a lot of demand because this group is growing so rapidly.
• 7:09
  In the last couple months, it went from just getting started to 949 members.
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  And I'm sure there's going to be 10 or 15 membership requests by the time I finished this episode.
• 7:18
  Folks want to learn more and we are so excited to have the opportunity to network, connect and grow with people in that Facebook group.
• 7:25
  So if you're interested in learning more about residential assisted living, check out the link in the show notes going forward.
• 7:31
  It's been a big year for real estate and we're really excited for, opportunities that are coming down the pipeline.
• 7:36
  We have a couple awesome residential assisted living home off market opportunities that we're looking at and currently are analyzing and in discussions.
• 7:46
  With a, home in Arizona seller finance, 5 percent interest rate.
• 7:51
  We're really excited about this in the opportunity that this may offer to investors.
• 7:56
  And to us, as we continue to grow our portfolio, I apologize and learn more.
• 8:00
  In this space.
• 8:00
  So really excited for all the things to come in 2024.
• 8:05
  We're going to pivot towards life and life.
• 8:08
  Of course, important thing.
• 8:10
  It has been a whirlwind in the show house this year, but boy, has it been so much fun.
• 8:15
  And we are so lucky for the amazing memories that we've had.
• 8:18
  First thing I want to hit on is the thing I've really worked hard on.
• 8:22
  That has been a game changer for me this year, both professionally and personally is really focusing hard on a morning routine.
• 8:29
  I've always been pretty good about this, but I've realized the importance of having an established morning routine before I start clinic, how that helps me be a better doctor for my patients and also how that helps me be a better husband and father when I get home.
• 8:44
  That morning routine is simple.
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  It looks like me waking up at 5.
• 8:48
  15.
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  Getting dressed in my gym clothes, head into the gym, working out for 30 to 45 minutes, taking a shower, hopping in the car, reading my Bible.
• 8:56
  They're sitting in the car journaling and then heading to work.
• 9:00
  And that simple routine has just been such a game changer for me.
• 9:04
  I've also been focusing on running a lot more this year.
• 9:07
  I found that running has been.
• 9:10
  A good stress reliever for me and has really helped with some anxiety, helped me think through and process through some things that I've been working on this year.
• 9:18
  And that's been great.
• 9:19
  I've actually run 463.
• 9:21
  13 miles so far this year and hopefully more to come before the year closes out.
• 9:27
  Who knows?
• 9:28
  Maybe I'll break 500 miles next year.
• 9:30
  I'm looking forward to running my first half marathon.
• 9:33
  Maybe a marathon.
• 9:35
  So we'll see what happens.
• 9:37
  I also had the opportunity to ski 269 miles this year, which was awesome.
• 9:42
  I just absolutely love skiing and we're so fortunate to live in Colorado with some incredible ski resorts.
• 9:47
  So if you're interested in coming out and hitting the slopes with me, just reach out to me.
• 9:52
  Let me know.
• 9:52
  I'd love to do that.
• 9:54
  Probably the biggest highlight Well, I won't say the biggest, cause you'll hear that here in just a second, probably one of the biggest highlights we had this year was we bought a camper and, go back.
• 10:04
  If you haven't listened, listen to the episode that I talk about the 10 year rule.
• 10:08
  And I talk a good bit about that camper purchase, but I tell you what guys, honestly, the camper has been the best investment I have made in my life to date.
• 10:18
  Better than the real estate, better than the syndications, better than the stock market, this camper, it has been an incredible opportunity for me to have in just one on one family time without distractions in a beautiful environment.
• 10:33
  We love being outdoors in the Schloe household.
• 10:35
  We love adventure and we've just really made the most of it.
• 10:38
  We've actually slept in the camper for 31 nights this year, which has been amazing.
• 10:43
  We also did an epic family road trip in October.
• 10:46
  we went through Colorado, Utah, Arizona, hit all the national parks.
• 10:50
  I mean, we saw the arches and Moab.
• 10:52
  We hiked the narrows and Zion.
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  I had my, Two year old at the time, now three year old son, Jack on my back and a hiking backpack.
• 10:59
  And we hiked through the Narrows and Zion.
• 11:01
  It was amazing.
• 11:02
  We saw the Grand Canyon, Antelope Canyon, we camped on the banks of Lake Powell, and we even ran out of propane heat on a 22 degree night in the San Juan mountains near Pagosa Springs.
• 11:13
  This trip was just an absolute highlight of the year and will be an absolute highlight of my life.
• 11:18
  And I'm so excited for that opportunity that I had with the family.
• 11:23
  And excited for more trips in the future.
• 11:25
  Can't wait.
• 11:26
  If you're mulling through the idea of buying a camper or making a purchase that is going to lead to incredible gains for your family and your personal relationship with your spouse and with your kids, do it, buy it.
• 11:39
  It's worth it.
• 11:40
  Absolutely.
• 11:42
  Sadly, this year though, we did have a few setbacks and a few sad things that did happen.
• 11:47
  And the most notable one was we did suffer a miscarriage this July.
• 11:51
  it was really difficult for the family, incredibly difficult for my wife, and to be honest, affected me more than I thought that it would.
• 11:59
  It was a difficult season and hard to navigate this time.
• 12:03
  It was hard for our son to understand what happened to the baby, and you know, ultimately this led to beautiful conversations with my wife.
• 12:13
  Beautiful conversations with friends.
• 12:15
  It's really hard to talk about a miscarriage, but I think those conversations that my wife had with some friends and with some family and hopefully with myself or, or really life giving for her and helped her in this recovery in regards to the miscarriage, we also hiked Huron peak, which is a 14 year after the miscarriage.
• 12:34
  And, that was my wife's idea and it was incredible to do.
• 12:38
  Really hard things after suffering a very difficult experience and climbing that mountain, which is a 14er was a hurdle that she needed to face to prove, Hey, her body could do it.
• 12:52
  Her body could do hard things and she could accomplish these goals that she had regardless.
• 12:58
  And it was really, really cool opportunity, really cool experience.
• 13:01
  Do hard things with your spouse.
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  It's worth it.
• 13:04
  It's awesome.
• 13:05
  But I am so excited to say that the Shlows are pregnant again.
• 13:09
  And we're so fortunate that we are pregnant with a healthy baby boy who's due this summer and we could not be any more.
• 13:16
  Blessed and overjoyed for our son.
• 13:19
  He's coming in the summer.
• 13:20
  So say a prayer for my poor wife, Stephanie.
• 13:23
  She is going to be outnumbered, but she's an incredible mother and incredible wife.
• 13:27
  And I am so blessed to have her love and support.
• 13:29
  And I am looking forward to seeing what 2024 has in store for the Schlo Physicians and properties.
• 13:36
  That's why you're here.
• 13:38
  That's the podcast.
• 13:39
  That is the community really physicians and properties got started this year.
• 13:44
  And gosh, the journey has been mind blowing.
• 13:46
  The Facebook group currently has 1064 members.
• 13:50
  Instagram has 488 followers.
• 13:52
  This is the 22nd episode of the physicians and properties podcast.
• 13:57
  I mean, I just can't believe it.
• 13:58
  I've had the opportunity to interview such incredible guests, physicians and healthcare workers who have inspired me, taught me, gosh, I think I have learned so much more by listening to them than I've probably taught anybody else.
• 14:12
  And it has been such a humbling and incredible experience to get to network with these incredible people.
• 14:18
  You will notice a theme throughout this podcast is relationships and networking.
• 14:22
  It is so important.
• 14:24
  I've learned also though, that growing a podcast is very hard.
• 14:28
  It's not like social media or YouTube podcasts don't necessarily go viral.
• 14:33
  You're not going to have a podcast episode that goes viral and get millions of downloads.
• 14:37
  It grows slowly.
• 14:39
  You have to be consistent.
• 14:40
  You have to continue to post these weekly episodes.
• 14:43
  And if you do that, it'll grow by word of mouth slowly.
• 14:48
  And I'm thankful that listeners like you have been sharing the podcast.
• 14:51
  We have over 3, 000 listens across the listening platforms for podcasts, including YouTube, which has been awesome.
• 14:58
  3, 000 people have listened to an episode of the Physicians and Properties podcast.
• 15:03
  Well, I guess less than that, but nonetheless, we've had 3, 000 listens and over that.
• 15:09
  Which has just been a blessing.
• 15:10
  So thank you for listening.
• 15:12
  If you've grown from the podcast, can you share that with someone who would benefit?
• 15:15
  And you know, it's also crazy out of those listens.
• 15:18
  We've had listeners from 13 different countries from Germany to Singapore, even Djibouti it's been crazy to see the reach of the physicians and properties podcast that has had and will have in the future.
• 15:32
  So thank you for that.
• 15:33
  As I mentioned before, one of my favorite parts has been networking with just.
• 15:37
  Complete rock stars of human beings.
• 15:40
  It has been so cool.
• 15:41
  and.
• 15:42
  If you don't know, I actually do free calls, free strategy calls or freedom calls that you can sign up with me through a Calendly link.
• 15:51
  And I have talked to 40 different physicians this year on my way home from work.
• 15:57
  And it has been a blast getting to hear their journey, getting to hear their struggles.
• 16:02
  Trying to help out where I can and just teach folks where I can.
• 16:05
  It's been such a fun experience and honestly, one of the highlights of my year.
• 16:09
  So if you haven't signed up for a call, sign up for a call today, links down at the bottom of the show notes here.
• 16:16
  So in the future of physicians and properties, we're going to continue with weekly podcasts.
• 16:20
  Hopefully you're loving these as much as I am.
• 16:22
  We're going to have some webinars and who knows, maybe we'll start a mastermind or do something like that in the future.
• 16:28
  I'm not sure, but I want to be here to help provide as much value to you and help you as much as I possibly can on your journey towards financial freedom.
• 16:37
  I want you to really understand this year, how real estate can help you have the freedom to practice medicine and live life how you want.
• 16:44
  So in 2024, we all just crush our goals going forward.
• 16:48
  I want you to take some time this year.
• 16:49
  If you haven't already take some time to look back.
• 16:53
  On this year.
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  Think about all that you've accomplished all that you've done.
• 16:59
  It's been incredible journey.
• 17:01
  I'm sure I'm sure there's been struggles, but oftentimes I feel like we just focus on that mountaintop moment.
• 17:08
  We don't enjoy the climb along the way.
• 17:10
  So look back.
• 17:11
  Think about the climb that you've had this year.
• 17:14
  Think about the things that you've learned.
• 17:16
  Ben Hardy wrote a book called the gap in the game, Ben Hardy and Dan Sullivan, probably my favorite book of this year.
• 17:22
  If you haven't read it, go buy it.
• 17:24
  And he says, if you focus on what you lack, you lose what you have.
• 17:28
  If you focus on what you have, you gain what you lack.
• 17:32
  And we're so lucky to have all that we do have.
• 17:34
  We're so lucky to be born in this amazing country.
• 17:37
  We're so lucky that we live in America.
• 17:39
  We're so lucky that we have the opportunity to take care of patients every day.
• 17:44
  It's a difficult journey, but it's incredible one.
• 17:47
  So without any further ado, I want you to take the time to enjoy Christmas with your family.
• 17:53
  I hope it was an amazing day, full of joy.
• 17:56
  Take some time to reflect on this year if you haven't already and get ready to plan out some goals as we move forward into 2024.
• 18:04
  Thank you so much for listening to the podcast.
• 18:07
  Have a great rest of the day.
• 18:08
  Take care.
• 18:10
  Alexander: Hey, real quick, if you're still listening to this, I'm assuming you got value from it, so I need your help specifically.
• 18:16
  Alexander: My two year vision with this podcast is to help 100, 000 physicians learn how investing in real estate can give you the freedom to practice medicine and live life how you want.
• 18:26
  Alexander: There are two main ways that a podcast grows.
• 18:28
  Alexander: One is the ratings and reviews, and the other is word of mouth.
• 18:32
  Alexander: If you can please leave me a five star rating and review on Apple Podcast and Spotify, as well as send this to one to two friends that you think would get value from it, we can reach the positions that we want to reach.
• 18:44
  Alexander: Thanks in advance and talk to you on the next episode.
• 18:46
  Alexander: Please note that the information shared on this podcast is for informational purposes only.
• 18:48
  Alexander: It should not be considered financial and have nothing to do with it.
• 18:49
  Alexander: The views expressed on this podcast are those of the host and guests and do not necessarily reflect the views of the Department of Defense or the United States Air Force.