Building Wealth Beyond the White Coat: Real Estate, Freedom, and Family with Dr. Alex Schloe | Ep31
What if the thing that's 'missing' in your life as a physician isn't leaving medicine... but building something outside of it that gives you true freedomâat work and at home?
In this episode of Better Physician Life, Dr. Michael Hersh interviews Dr. Alex Schloe, a family medicine physician, Air Force veteran, and real estate entrepreneur. Dr. Schloe shares his journey from childhood entrepreneurial roots to building a real estate portfolio focused on assisted living, short-term rentals, and moreâ all while serving in the military and prioritizing family. He discusses how real estate offers stability and autonomy, and allows practicing medicine part-time in direct primary care, reducing burnout and reclaiming time for what matters most. The conversation covers navigating physician skepticism toward side ventures, the mindset shifts needed for entrepreneurship, the importance of community and vulnerability, and practical steps to start building alternative income streams. This episode is ideal for physicians who feel something is "missing" and are exploring ways to create more freedom, fulfillment, and impact, both in medicine and beyond.
About the Show:
Created for physicians who want more than clinical competence, Better Physician Life is a space for honest reflection, reinvention, and reclaiming purpose beyond the pager.
Hosted by Dr. Michael Hersh, each episode dives into the questions we didnât learn to ask in training, offering tools and conversations to help you live and lead with intention
Top 3 Takeaways:Â
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Start Small and Build Momentum in Real Estate: Begin with accessible opportunities like physician loans for house hacking or primary residences, then expand into rentals, short-term stays, or assisted living. Education through podcasts, books like âRich Dad Poor Dadâ, and âBiggerPocketsâ, and self-study during residency drives progress without derailing clinical focus. Passive or semi-passive income creates "mailbox money" that snowballs into greater flexibility, like reducing shifts or practicing part-time.
- Prioritize Family and Protect Time as Non-Negotiables: True balance means setting boundaries. Finish notes at work, leave the computer behind, and dedicate sacred family time (e.g., evenings with kids unplugged). Entrepreneurship requires sacrifices like late nights, but as income grows, redesign your schedule, for example, part-time clinical work, to be present for family milestones. Financial freedom enhances presence and reduces stress, making you a better doctor and parent.
- Overcome Skepticism, Fear, and Identity Challenges Through Community: Physicians often face internal doubt, imposter syndrome, or criticism from peers for pursuing non-clinical paths. Surround yourself with supportive roomsâmasterminds, podcasts, or like-minded physiciansâto accelerate growth and see what's possible. Risks are manageable; invest only what you can afford to lose. Pivots are always available, and alternative income protects against burnout or disability while allowing you to serve patients more joyfully.
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