How To Build A Powerful Physician Investor Network With Dr. Kyle Stephenson

🎙️ Welcome back to another eye-opening episode of The Physicians and Properties Podcast with host, Dr. Alex Schloe.

💡 What if the fastest way to build real wealth isn’t finding the perfect deal… but getting in the right rooms with the right people and letting relationships compress your timeline?

In this episode, Alex sits down with return guest Dr. Kyle Stephenson—orthopedic surgeon, investor, community builder, and founder of the Legacy Rx Conference and the Doctors Investor Club. Kyle shares what he’s learned over the past year of building events, growing physician investor networks, navigating wins and painful lessons, and why he’s shifted from chasing “home runs” to stacking consistent singles with high-integrity partners.

This conversation is a blueprint for physician investors who want to build wealth with faith, family, and freedom at the center—and avoid the mistakes that cost real money (and stress) along the way.

🔥 What you’ll learn:

• Legacy Rx behind the scenes: What Kyle learned from hosting his first real estate conference—and why execution is harder than the vision
• The “right rooms” principle: Why most people say they want growth… but don’t take action to show up
• Doctors Investor Club explained: How Kyle partnered with the Family Office Club to give physicians access to elite investor rooms
• Networking at the next level: Rubbing elbows with pro athletes, family offices, and high-level operators—and why that matters
• Hard lessons from bad deals: Ponzi schemes, underperforming assets, and what Kyle now does differently to protect capital
• Walk every property: Why Kyle refuses to invest (or bring investors) into deals he hasn’t personally visited
• Sponsor alignment > IRR: Why faith, integrity, and family values matter more than projected returns
• Velocity of money: Using tools like whole life cash value + borrowing + cash-flowing assets to make one dollar work twice
• Macro matters: Why young physicians must understand inflation, currency debasement, and why “saving cash” quietly loses

🔥 Key Takeaways:

• Your network is your net worth. The right rooms accelerate belief, confidence, and opportunity.
• Most people don’t have an information problem—they have an action problem. Showing up is the real separator.
• If the deal feels too good to be true… it probably is. Trust your instincts and verify everything.
• Bet on the operator first. The sponsor is the jockey—don’t ignore character and alignment.
• Integrity is expensive in the short-term—but priceless long-term. Your reputation is an asset.
• Stop letting money sit idle. Inflation is real, and cash is quietly losing value every year.
• Freedom is the goal. Build wealth so you can practice medicine because you want to—not because you have to.

If you want to learn how investing in real estate can give you the freedom to practice medicine and live life how you want then check out the links below:

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Transcript

Dr. Kyle Stephenson: Ever since that deal again, it was probably three years ago now I walk every property. I make sure if I'm investing in it, if I'm bringing investors into it, I'm walking that property myself. I'm shaking hands, I'm meeting operators face to face. Because that's, I think when you get burned. You know, some people can fool you pretty well.

Dr. Alex Schloe:  Welcome to the Physicians and Properties Podcast, 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. Doctor, doctor, doctor, doctor, doctor. Now here's your host, Dr. Alex Schloe. 

 Hello everyone. Welcome back to another episode of the Physicians and Properties podcast. So excited to have a return guest, Dr. Kyle Stevenson on the podcast today. If you have not yet listened to episode 72 of the Physicians and Properties Podcast with Kyle Stevenson, go do that. It is an incredible episode.

We talk a lot about his journey as an orthopedic surgeon and into real estate and entrepreneurship. Through that podcast, Kyle and I have become great friends. It's been really awesome to, to grow together over this last year. So I wanted to bring him back on the podcast and talk about what we've learned over the last year.

He hosted an incredible conference called the Legacy Rx Conference. He helped start the Doctor's investment group. So many things have happened and changed, so wanted to bring him back on the podcast. This one's gonna be even more kind of conversational and, and, uh, exciting, but there'll be a lot of value add.

So Kyle, welcome back to the podcast, man.

Dr. Kyle Stephenson: Thanks Alex. Appreciate you having me on, man. It's been great getting to know you over these last, uh, last year basically, and. Get to hang out in person, um, in October. And , yeah, it's been great getting to know you and, and, you're even better person in person than, than, you know, listening to the podcast.

So.

Dr. Alex Schloe: Thanks brother. That means a lot. I feel the same thing about you and man. It was a great time in Indianapolis. I didn't think in 2025 we'd be hanging out in box seats on the field with Gary Bracket and the Colts anvil and all the above. Man, it was, uh, it was an awesome experience.

Dr. Kyle Stephenson: Yeah. Yeah, it really was. Yep. I mean, I appreciate you, uh, with your help and, and your, , expertise. You know, with a lot of the, um, the guests over there, they loved your story. Just how big of a, you know, Christian you are and family man, and obviously successful doctor and investor. So you had a, a lot, a lot to give to that conference and we appreciate that.

Dr. Alex Schloe: Thanks, man. I appreciate the opportunity. Let's, let's talk about the conference call, if you don't mind. 'cause, uh, so much goes into a conference and, and finding speakers and the venue and the food and, and man, it was awesome. And that was your first one and, and you really crushed it. What were some things you learned, along that journey for folks who were listening, thinking to, like, maybe I'd wanna, uh, do, you know, host a real estate meetup or host a conference, or something along those lines.

What were some things you learned in that experience?

Dr. Kyle Stephenson: Uh, I learned a lot. I, I came up with the idea about a year ago. You know, really I was doing some like local meetups and stuff like that and, and had a good following doing that, which is great. And a lot of people had good feedback and they're like, this is great, you know, keep this going. I've got sponsors and, um.

So I was like, you know what, let's take this a little bit bigger. And came to my wife with the idea about a year ago and, and she's like, okay, sounds crazy, but, alright, let's see what you got. And you know, people at the conference were like, to my wife, you did such a great job. I'm sure you put a lot of this together.

And she's like, honestly, I didn't do a whole lot like he did it all. So there was a lot that went into it. A lot more than what I even expected. Um, which is, you know, it, it was, it was, the idea was awesome, just getting, I mean, you know, setting up the venue and, and having the vision, like that's all like, sound sounds good and easy.

It's a matter of executing and I think we did a good job, but, you know, it wasn't flawless. And, and there's a lot of things that we will, change for next year. But in saying that, gosh, the big things that I would say, honestly, that I learned is there's a lot of people out there that want to take action and they, you know, make the phone call and they're like, oh my gosh, this conference sounds awesome.

And then don't show up. You know, that's, that's one thing I learned, which is kind of crazy, but it's, I think it's human nature a little bit. Um. I was definitely expecting, you know, I, I had an idea of the people that I knew would be there that weren't, which is kind of wild, and then texted me afterwards and they're like, man, I really missed that, didn't I?

So that was one big thing I learned is, is, you know, some people are unwilling to take the action to get in the right rooms. And, that was one thing. Some other things, uh, you know, I mean, just the. Ha having a local meetup is a no brainer. Like that's great and, and everybody should do that.

Trying to do a big conference, you know, first time without much help is probably not a smart idea. So again, next time around I would, I would tag you and Franky and some other guys to, you know, help out. Um, not that you weren't willing to, but it's just a matter of, you know, having, using your resources, right, using your team.

To, to help you out with that. So those are some big things. I think collaboration, ultimately was awesome having you and Franky and David Price show up and then all the speakers. I mean, that was the highlight for me is just the fact that you guys wanted to be there and were willing to come and, and help out.

Um, and, and bring your expertise was phenomenal. So, you know, I, I think piggybacking off that and, and using that, leverage for next year would be very, wise of me.

Dr. Alex Schloe: Yeah, absolutely, man. It was, it was awesome. You, you did a great job and I don't think you've given yourself enough credit. It was, it was a really awesome, awesome conference and I think something that I took away from it, even more so, and I, I think we all kind of know the importance of being in the right rooms with the right people, but it is, it's like taking that action to like really get in the right rooms.

But the other thing that was so cool is like. You know me, you, um, Franky, like we know each other through podcast, right? We've, we've been podcast guests with each other. We've, we've connected and we've talked a lot since then, you know, but it's crazy to see how you can create a relationship virtually through Riverside or Zoom or whatever that may be, social media and then like the relationship builds even more in person.

And like you mentioned, I feel the same way about you, man, your way. Way better guy in person than you are on social media and on podcasts and you're incredible. And so it's just really cool to be able to like start those relationships and just get in that room, even if it's virtual. Like maybe for someone who's an introvert, that's the easier step is like, let me virtually get in the room and then have the courage to go in person.

And so I think, you know, for folks listening, we're on the start of 2026, like thinking about. How I can get in the room with the right people are gonna help me grow and expand and like really open my eyes to the things that are possible is so important. And, and I, I see that with you and Franky. I mean, and, and I was stretched, you know, so much just during the conference and, you know, late night conversation at the bar and, uh, at the hotel.

Like, just, just things that we've learned and grew and then. Kind of all of that coming together in person was really, really cool to see that synergy. And so I would encourage folks in 2026, get in the room, whether that's virtual, whether that's in person and, and kind of find your tribe.

Dr. Kyle Stephenson: Yeah, absolutely. You're spot on and you know, and that's why I wanted to start, you know, that conference too, just because. There's conference, the, you know, doctors, investor, or excuse me, the, uh, white Coat Investor conference out in Denver, I think coming up in March. There's the passive md, passive income MD conference out in LA.

But I didn't know of anything going on in the Midwest. You know, I was doing my research and I'm like, for anybody that's more regional or, and I know you're out west, but, uh, it's hard for people on the East coast or the, or the Midwest, you know, to, to go find these conferences or fly out. So I'm like, why not get something going here?

Here, more regional. Uh, to tap into to this area and, and get people more face-to-face. And then on top of that, yeah, we all see each other on social media. But our relationship, you know, was on steroids once we saw each other in person. Right. You can, you can get feedback on, , or, or more transparency, more honesty, you know, like everything on social media looks perfect.

And then when we all talk, it's great to like, have real raw conversations to say, Hey, this works, this doesn't, you know, this is what I would do different, you know, and, and. Help each other out with that.

Dr. Alex Schloe: Yeah, absolutely. I agree. And I think, you know, same with, with this conference, right? Like the, the true value of the conference is, you know, certainly the speakers and, and the, the schedule, but also the things that happen. In the hallway, the conversations in the hallway, the conversations after hours, conversations that happen after the conference.

And so it's really cool to see those relationships. So, that was, that was really awesome. speaking of, uh, you know, relationships, community building, let's talk about doctors, investor club. That was a big, a big undertaking that you took on, um, in 2025. So what is the doctor's investor club, and, tell folks a bit more about that, Kyle.

Dr. Kyle Stephenson: Definitely, um, yeah, I think it's important work that we're doing with this and, and I'll, I'll explain the origin of it. So, you know, two and a half years ago, I really started getting more into real estate as a general partner, you know, before I had my own single family homes, things like that. And I started getting into more like the multi-family space, the bigger assets.

And I was like, man, how do I educate more docs on this stuff? You know, at the time I thought there wasn't very many of us doing it. And so I started the podcast Assets in Orthopedics, and through that, you know, just like you're doing, you have all these cool people on, and I've learned that guests, you know, you ask them, Hey, do you wanna come on and talk about yourself?

Well, it's not hard for them to say no, right? So, uh, bringing, bringing cool people on was great. And I, I listened to this podcast of a guy named Richard Wilson who was on, and I thought he was brilliant, very smart guy. He's the CEO of what's called the family office Club top, office or top investor club in the world. And he has like 16 live events a year. Anyways, I was just very impressed with him. So I reached out to him, sent an email, and he, of course, he got back to me as a, a good CEO would got back pretty quick. He was like, Hey, by the way, I see that you host this podcast. If you're looking for somebody that you know to talk about this, I can.

I love doctors. So he came on the podcast, we built a relationship, we talked more and he is like, Hey, I got this, uh, idea of a doctor's investor club. Where we spin it off my family office club. So instead of you doing your own events, you can have every doctor in this doctor's investor club come to our events basically for free.

I mean, you, you join the club for free and then you just have to get out there and get your hotel, of course. But, um, you join these events and so he's like, let me get you a ticket to one of our events. You come check it out, see what you think. And I went out there and I, my mind was blown, like I'm hanging out with, he's got a professional athlete investor club.

He's got all these other, you know, sent millionaires and billionaires that are coming. And so I showed up as like a, a peon of a doctor and rubbing elbows with all these big time guys, you know, doing a lot of big investing and, uh, wealthy entrepreneurs, former professional athletes doing big things. And so I loved it, man.

I was like, I am all in on this. So yeah, him and I started the Doctors investor Club to piggyback off what they're doing with the family office club and basically for physicians listening, I mean, you can, you can sign up for free. We can put the, link below. And basically there's, there's an app where we can connect.

There is, he's got like 40 AI tools now, 40 plus AI tools that are legit AI tools, like all the white papers from any, you know, investor summit that he is ever put on, or excuse me, interviews from investor summits that he has put on any public billionaire, conversation or interview. He's like funneled those into these AI tools.

I mean, he has like. Legit. It's not just from Wikipedia. Right? And so you can get on these, this, uh, doctors vessel club, use these AI tools, connect with other doctors, go to these live events. He puts on 16 a year. I'm speaking in Dallas about capital raising here this month. And, I miss the one in, they, they do a big one at the end of every year, December in Fort Lauderdale and Grant Cardone billionaire came and spoke.

He was the keynote. Yep. The one I went to in, in Beverly Hills., Metal World Peace, IE uh, Ron Artes, formerly known as Ron Artes. He was the keynote speaker. He's like a big time. I knew him from, you know, playing in the NBA, but he's a big time entrepreneur and I got connected with him, got connected with his business partner, had him on my podcast.

Uh, Kenny Nuke is former NFL Super Bowl champ, and he came and spoke at Legacy RX and I know you got to hang out with him. I met him one of those events. So it's, to your point, it's being in the right rooms and I don't think enough doctors especially, are, are doing that. And so it's like if we want to think like the wealthy, then we gotta be in the right rooms, listen to what they're doing, and this is the best way to do it.

Dr. Alex Schloe: I completely agree, man. It's, it, it is huge. You know, speaking of Kenny, Franky and I went and had dinner with him, uh, downtown in Indianapolis, and, yeah, Kenny Super Bowl champion in a suit looking like a total stud. Got a Super Bowl ring on from, winning the Super Bowl with the Broncos. Franky is an orthopedic surgeon.

Franky Davis been on the podcast a couple times as well, and , it was so funny, man, walking down the streets of Indianapolis. We go to this nice restaurant, we walk in and they're like, uh, sorry, we're reservations only and, and we're fully, we're full for the night. And they saw Kenny's Super Bowl ring and they were like, Hey, right this wave, we'll sit you right here.

And so it was awesome. And so it was, it was wild. I, I called my wife and I was like hanging out with the Super Bowl champ, and Kenny was like, just such. A a, a down to earth, genuinely great guy, great husband, great father. I mean, we had some amazing conversations and only a few of 'em had to do with football.

And so it was just, it was just a really cool time. And you know, I say all that to say a lot of times, you know, as physicians or just people in general, we see these. You know, professional athletes, or we see these millionaires, billionaires, whoever it may be, and we almost kind of put 'em on a pedestal and we forget the fact that like, they put their pants on the same way in the morning as we do, you know, and they're just genuine down to earth people.

And, and so it was, it was really, really cool to make that connection. And so you just never know what's gonna happen with those relationships, with these conversations, with being in the right room with the right people. I know we're really foot stomping that hard, but I think. You know, if more and more physicians do that and get in those right rooms in 2026, man, it's gonna be, uh, just an absolutely incredible year.

So, I'm pumped for that. It sure is, man. Other things you learned

Dr. Kyle Stephenson: Well, real quick, I just wanna say, you know, just, just hearing, uh, your experience with the conference and I mean, you pretty much had VIP treatment that whole weekend. You know, uh, you, you got to hang out with NFL Super Bowl champ for dinner. You had to go to the, the Colts game, sit, in the suite.

You were living the life, man.

Dr. Alex Schloe: I was, man, I, I, uh, called my wife and I said, you know what? I could get used to this. We gotta, we gotta,  we gotta get things going, a little bit more so we're playing too small. yeah, man, it was, uh, it was an incredible, incredible experience. So, tha thanks again for that and, for folks next year, you know, you gotta be at the Legacy RX Conference.

It's gonna be awesome. You got a lot to, a lot of work to do, Kyle, to, to make it even better. It's gonna be, it's me. Cool man. Yeah, man. What are, what are some other things 2025 taught you? I know we were talking beforehand, we, we learned a lot of lessons in 2025. A lot of wins. Uh, also some losses.

let, let's share some of those.

Dr. Kyle Stephenson: Yeah, good question. And you know, I had dinner with my wife and my mom the other day. My mom's, widow, I mean, or my dad passed away last year and so we took her out to Christmas dinner and and it was nice, just good without the kids, you get to talk and. She's like, man, you're doing a lot. Like, did you, when you started doing this stuff, did you know it was gonna be successful?

And I was like, I just laughed. I was like, Andrea, you know, look at my wife. I'm like, has it always been successful? No. I said, you know, mom, when you win, you win. When you lose, you learn. And we lost a lot. You know, there, there's a ton of, um, mistakes that we've made over these past, not just last year, but last few years, I would say.

And, and we've learned a ton from it. The key is to have more wins and you have losses, right? And I think that's what, you know, we're all trying to do here. But when you lose, you learn. I think that's a big, big thing. And yeah, so, you know, things I learned, you know, first of all, if a deal sounds too good to be true, it is more than likely.

You know, my dad's taught me that along, you know, for a long time. And, um, and sometimes you just need to feel it. You need to experience it yourself. . And, you know, I, I got burned a couple years ago. I actually talked about it on my podcast, one of our speakers who, at the conference, fantastic guy and, you know, I trust him and all that, but I think he got into a bad deal as well.

And, , ended up being a, a Ponzi scheme. A couple, you know, three years ago now we've more than recovered. I mean, it's not, you know, a huge deal luckily, but. Uh, that was one thing that we learned was, again, if the deal's too good to be true, it probably is. And, and the other thing I learned on that deal is I never went and saw the property myself.

It was out west somewhere. And, , ever since that deal again, it was probably three years ago now I walk every property. I make sure if I'm investing in it, if I'm bringing investors into it, I'm walking that property myself. I'm shaking hands, I'm meeting operators face to face. Because that's, I think when you get burned.

You know, some people can fool you pretty well. The other thing I learned probably in, in 2025, the, the last time I came on the podcast, we talked about our hotels. So maybe two years ago we, we bought those down in Louisiana and, you know, still have a great vision for it. Me and the operators still talk, every day.

And it's one of those that's not, it has not panned out like we expected. We're not necessarily gonna lose money, but we're not gonna have the returns that we were hoping for. And so it's one of those where, again, I got investors into this deal. I trust the operator, I trusted myself. Um, and it's, we're gonna, we're gonna cut it loose here soon, and we're gonna move on.

We're, we're gonna sell it, at least get our money back. If not, make a little profit, but we're just ready to move on. It's one of those where it's like, it's almost causing a little bit more stress. Then what I would want. And I know if I got rid of that property, stress would be a lot less. We'll put it that way.

So those are a couple things, you know, maybe mistakes, lessons learned, I guess. Um, but all that being said, it's taken me to another level right now, the experience and the knowledge I've gained from all that. Has taken me to another level to where I know who my mentors are. Now I know the guys I can trust.

I work with a team now who they just do multifamily, real estate here locally. I went to high school with one of the guys, the CEO of the company. And, you know, I, I get to have coffee and drinks with them, you know, weekly. And so I, I know those guys. I see 'em, I shake their hand. I, I talk to 'em every day.

And that's the kind of trust I want. I've learned that if I'm gonna invest with you or um, work with you, we have to be aligned in all facets. And that's probably a, a big part of it, right? Let's, like you and I, Alex aligned very well. We're both Christian, first and foremost family guys. You know, we love our wives.

We love our kids, high integrity. If you're not aligned with that, I don't care how much money you you're gonna make me or think you're gonna make me. We're just not gonna work together. And so that's, that's a big lesson I've learned. And uh, and I love that. And that's gonna take me way further than anything else.

Dr. Alex Schloe: Yeah. I mean, I think that's, that's huge and I, I think that's something I've learned too. Over time it's, it's almost more so, you know, sure. Returns are important, right. But I would. Gladly take lower returns to be aligned with someone and partner with someone who I really know, like, and trust fully. And I think that's important as you're kind of vetting out potential deal opportunities to really understand that.

And, and that's something that I wish I learned earlier. We were talking offline about. You know, a, a, a deal that I raised some capital for and, and my partners raised some capital for, partnered with an operator for some assisted living properties. And, it has not been a favorable experience either. And, and, and unfortunately, it's the first lawsuit I've ever been a part of.

And, you know, luckily. It's gonna work out. And we've been paying investors out of our own pocket, the, the preferred return. 'cause we feel like, hey, that's what we need to do. We want to, keep that relationship intact. We want to have high integrity. but man, it hurts. Uh, it really hurts. And, and, and we're gonna, you know, we're, we're in the middle of that.

Lawsuit and, you know, more to come and hopefully there'll be a good resolution to that and everything will be fine. And in the long run it's just an expensive learning opportunity. But, I think it's important for folks to hear some of those failures along the way. And luckily more wins have stacked up than losses.

And, and that'll continue to be the case. And, you know, I was talking with a guy, he's done a ton in real estate, is probably worth about a hundred million dollars. And I was talking to him about the. The lawsuit. And, it, you know, he was eating me up like crazy. I'm like, man, I can't believe this happened.

And we did everything we thought was right. Dah, dah, dah, dah, dah, you know? And uh, he's like, Hey man. This gonna be the first of many. And he is like, if you stick in this game, it's just gonna happen. And he is like, as long as you remain integrous, as long as you continue with integrity and your faith and, putting your investors first and continuing to, you know, follow the Lord and go after this journey that God's called you to, it's all gonna work out and it's all gonna be fine.

And he is like, so just stop letting this beat you. It's gonna be all right. Uh, and so it was huge, man, especially when you, when you talk, are talking with folks who've been doing this for a long time, or folks in the family office club, I'm sure have similar stories and experiences. But, the key thing is, is to, to kind of bet on the jockey and, and keep running the race.

Dr. Kyle Stephenson: Yep. No question. And I would say for me, you know, and this is important for listeners too, um, like Garrett Gunderson talks about this. He's, you know, he's an author who wrote, what would the Rockefellers do? Couple other books Killing Sacred Cows. My, the, my friend and colleague, uh, Scott, Jared with Invest, he talks about this too, investor, DNA, knowing your DNA and you know, what, what are your, um, what are, what, what's your deal filter, right?

Like, what deals do you like? What returns do you like? Things like that. And kind of figure out what your investor DNA is. And, and I've come to learn. Like, instead of shooting for a home run, which is what I've done in the past, I am now totally good with hitting singles, hit singles, hit singles, get a nice double, triple off the wall.

Great. But I'm totally good with, with staying a little bit more conservative, knowing that I'm gonna make consistent returns. I'm much happier with that.

Dr. Alex Schloe: Yeah. And I think, you know, that that's really important. And I think having, the courage to swing the bat too is really important, especially when you're getting started. You know, I know we've talked about some deals that maybe have, have, have gone south or haven't panned out exactly how we hoped That's life.

It's gonna happen. I mean, you know, you look at the best baseball hitters who, who have. Ever lived. And if they, uh, if they get a hit one third of the time, they're in the hall of fame. And so, you know, there's gonna be some times you strike out, but it is having the courage to keep going and, and doing everything you can to mitigate that risk, of course, is incredibly important.

But, um, but yeah, man, I agree with you. Well, let's, let's pivot to some happier, uh, happier discussions. What are some things you're excited about in 2026? Man.

Dr. Kyle Stephenson: I will say, uh, 'cause we really started our, like passive syndications as an LP in 2020, I wanna say. So five years ago. And, and we've exited two deals now. And so that was huge. Two things that, you know, it's when you're, when you're in the early phase of it, it's hard 'cause you're like, man, I'm, you know, I'm getting some distributions here and there, but like, we just exited two deals.

That's great. You know, you get a nice chunk in profit and then you're like, okay, now I can deploy this into something else and hopefully I've learned something along the way so I know what I can put it in this next time around. But yeah, I was very happy with that. So there is positive to it, you know, seeing these big chunks of, of cash coming in, you're like, okay, this is why we do it.

Dr. Alex Schloe: Yeah, for sure. Yeah, it, it, that's all. I can't wait for that. Yeah, we're, like, I was talking to you about at the conference we're, we've done a lot of like new development deals and kind of more long-term LP investing that are gonna be like three to five year holds. And so, yeah, it's hard when you, you're like, Hey, I'm gonna wire this check out and I'm not gonna.

Get much other than some, some distributions. but you know, that money's essentially wrapped up for the three to five years and then you get that big chunk back, it's like, Hey, how am I gonna, recycle, recapture, repeat, that, that money and go from there. So, yeah, I'm excited for that as well.

We're, we're working on some new development projects that I think will be really, really cool. one in Tomball, Texas outside of Houston. We're gonna build, 32 memory care beds. Two 16 bed, 16 bath and a mansion. Properties there. That's gonna be awesome. Uh, working on some independent living new developments in Florida.

those were returns were. We're crazy. That deal is crazy. just a really cool turn of events and really great team, uh, that came up, came apart 'cause of the podcast and an interview here on the podcast. And so that was, an awesome opportunity. Looking forward to breaking ground on those. And then a, a new development neighborhood in, Springfield, Missouri, outside of Springfield.

So, man, too much going on. Uh, but, uh. I still like to say like, there's, there's a lot of exciting things on the horizon, for, for us and, and for you as well, I'm sure going forward, are you guys working on any deals? Over at Hudson?

Dr. Kyle Stephenson: Yeah. Yeah. So with Hudson, so we just finished a raise, um, uh, value add multi-family up in Fort Wayne, Indiana, where they're putting a billion dollars into that community, that city, second largest city of Indiana. And the thing I like about them is I'm born and raised in Indianapolis, and so we're doing all of 90 something percent of the deals are here in Indy.

My wife's real estate professional status, so, you know, she helps out. Along the way, and she can, you know, drive to properties and do what she needs to do for who, her due diligence as well. Um, but yeah, I, we know this backyard, right? We, and, and that's another thing I've learned. It's like I, I'm very content just, investing here, because we know it.

And so the next deal, I'm not gonna talk about much, but one of the, the managing partners stayed at our house. He just moved to Telluride and, uh, in Austin, Texas. So he stayed at her house a couple weeks ago. And, there's an exciting deal coming up here in, in this area, Westfield Carmel, where I live. It's a big like, class A property.

And you know, sometimes, like those aren't home run deals, right? It's not like you're gonna get like a 20 uh, percent IRR, but you're gonna get hit A, you're gonna hit a nice double D or single double, you know, 12% consistently. 'cause it's already cash flowing. You have to put no money into it. It's cash flowing.

And the cool part about it is they had to basically interview for it. They had to underwrite. Get the number right. Perfect. Almost interview for that deal. And they went up against some big dogs, uh, across the country and actually are, are, are taking it down. So it's cool 'cause now we're kind of tapping into like the family office space a little bit because there's so much money that needs to come into it.

So now that connection with doctors investor club, family office club, we're bringing in some big family offices to come help out on raising money on that deal. And it's just cool to see all these worlds collide. That's, that's exciting for me. I've realized I'm a, I like being a connector. You know, I, I can't say that I'm the smartest person ever, but I do love connecting smart people and, and being in that mix.

And when I see that happen, it's like, it's the coolest thing ever. Right? When you, when you get that, that perfect connection, you're like, okay, that, that sparked something big. So, yeah, there's some big things with that. Um, doctors of Venture Club, like I said. Speaking in Dallas for a capital raising event.

and, and it's basically just a like investor summit type thing, in January. And then we are due with baby number four in March. So that might keep us a little busy. My wife's saying no travel for the, the time being, you know, after this.

Dr. Alex Schloe: That's awesome, man. Congrats.

Dr. Kyle Stephenson: Thank you. Yeah. A couple other things, you know, so I talk to medical students all the time.

Right. And, you know, you just had Brent Kesler on your podcast. I love the infinite banking stuff. I mean, we do it and, uh, and I'm not promoting it necessarily. I'm just, telling you, you know, my experience. I've enjoyed it because basically it's growing five to 6% in the policy. We take from that, we borrow against it, and then I invest my money from that which is cool. And what that's allowed me to do is be a little bit more conservative. I don't know what it is, but I'm like, I, I'm a lot more, protective of that money. I don't know. I, I couldn't tell you the reason. I mean, maybe it's 'cause I know more. but, so I'll invest it into a real estate deal and that makes me, you know, 12 to.

20% then great. It's growing in the policy at 6%, making 12 to 20% over here, it's working twice. And it's the same dollar basically. So, you know, I've learned velocity of wealth and the reason I say that is because I have medical students and residents I talk to all the time, and I explain this to 'em, that you can let your dollars work for you multiple times.

And that's how the wealthy truly build massive wealth. It's like that snowball effect and it just keeps churning and churning and it's pretty wild how quick it can happen. So, um, yeah, I mean we, we kind of do like a little bit of a hybrid family office if you will. You know, put money into equities, cash value, whole life insurance.

Borrow against the equities with an asset line of credit, put that into a real estate, borrow against the cash value your whole life, put that in a real estate and make sure that real estate is cash flowing. So it's spitting off dollars back to us. Pay down those, you know, that debt, if you will, and it spits off cash flow.

It's pretty wild. So that's what I'm, I'm kind of like getting to that point of where, how do I explain this in an easier fashion to residents and medical students, just so they start to think that way a little bit. It's kind of rewiring the brain, if you will, but it's truly what the, the wealthy doing.

Dr. Alex Schloe: It's wild. I just, like I said, yeah, I had, I had Brent yesterday. We recorded the, the episode, it'll be probably two episodes back from this one and, uh, go listen to that. It was really fascinating to hear about infinite banking and the money multiplier method and just kind Yeah, you're right. Like just a different way of thinking about how to use your money and make it work for you even more than kind of what.

Typically thought from an investment perspective. So I'm definitely excited in 2026 to dive more into that and learn more about that. 'cause it's, it's really fascinating. Kyle, you mentioned talking to medical students a lot and residents a lot. What are some other things you think going into 2026 that you would want to share with medical students, residents, maybe new attendings who are getting started on their journey to financial freedom?

Dr. Kyle Stephenson: I am big on, on thinking about macroeconomics. I know that as a medical student and a resident, you know, you're thinking about your, your next day of, you know, cases or, you know, medicine. But we do make good money. Uh, and the key is what do you do with that money? You know, when you're young, you start putting that away and investing it, that's gonna grow like crazy, right?

That compound interest is real, but starting to understand what's to really do with your money is important. and the other thing I'll say about macroeconomics is you can't invest like our parents anymore. Like our parents, the way they invested 20, 30, 40, 50 years ago doesn't necessarily work today because.

The government will continue to print a lot of money. I know that, that, you know, people are thinking that we're gonna get a bunch of oil from Venezuela and we're just gonna like hit it big and, and pay off our $38 trillion in debt. But if you don't understand macroeconomics, then you're gonna fall behind because, you know, I just saw something for, you know, obviously we just finished 2025.

Silver obviously shot way up gold shot way up. Um, Bitcoin was down. but you know, your SP 500 went up 16%. Your Dow went up, your Google went up 64%, something like that. But what I noticed on that chart, and I posted it the other day, was the dollar actually went down over 8%. And people don't realize that.

They think that inflation is two to 3% a year. Like, oh, we're only losing two to 3%. Not true. They're gonna, the government is printing money with, they have to, we're off the gold standard. You know, from 1971, so inflation is way higher than two to 3%. So if you just have money sitting in your bank account outside of an emergency fund, then it's, it's losing basically 8%.

So those are the things that I think young docs need to understand is macroeconomics is real. It's here. Uh, Robert Kiyosaki, or Yeah. Robert Kiyosaki. I think he's brilliant still. I mean, I, I still love. You know, rich Dad, poor Dad, cashflow Quadrant, just to get a big picture of what you should be doing with your income.

Make money as a physician, that's great, but what do you do with that income? Do you just go buy the house, buy the car, buy the liabilities, or do you go put it in cashflowing assets and then from that, buy the house, buy the car. That's, that's ultimately what you should be doing. So I would, you know, we, we all read White Coat Investor, good book, good, you know, James Dahle does a great job, but I was also side by side reading the Robert Kiyosaki's, and I think that's what got us thinking the way we did.

so I would, you know, push people towards, towards that understanding, macroeconomics, understanding what you should be doing with your money.

Dr. Alex Schloe: Yeah, that's huge. I think velocity of money is kind of something that's not really thought about that much. And, and it's, it's incredibly important, as you just mentioned, right? If we're putting that money in a high yield savings account, getting. 3.5% interest per year, we're still losing 4.5%, in terms of that value of that dollar.

And, and that's gonna be, you know, over time is gonna be enormous. You're right, gone are the days where you could like, put a million dollars in your 401k and draw 4% and live off that and be happy. Like, it just, it's just not gonna happen anymore. And so now's the time where you gotta build up some of those.

Other, other alternative income streams to, to support that. And then also, you know, we haven't even really hit on the true benefits of doing that and the freedom that that can generate and what that can look like for you and for your family while you're younger, while your kids wanna hang out with you while you have the ability and the health.

To travel and do really cool things. And, so it's, it's, it's incredibly important. You know, I, I always tell folks that, you know, the med students, the residents, your number one job is to learn how to be a good doctor. But there's, there's times and there's pockets in between. Like Franky Davis used to listen to BiggerPockets, always walk into the, or you probably did the same thing.

You know, there's ways that you can learn, um, just, you know, go the extra mile from a financial perspective while you're younger and it's gonna pay off so much. Put you in a position when you're. You know, mid thirties and you're like, Hey, I don't have to practice medicine. I don't have to practice medicine.

I can practice medicine 'cause I want to, and I can practice medicine how I want to. And that's gonna be huge.

Dr. Kyle Stephenson: Yeah, I mean, with that being said, like I, I read Robert Kiyosaki when I was in, in training and, and my ultimate goal coming out of residency was to buy a Tesla. And with my first, you know, uh, big check I did, I bought a, a used Tesla. Still have it today. But with that being said, I commend you and I commend Franky because you guys are much younger than I am, and you guys have taken action much sooner than I ever did.

And honestly, the, the day I took action five years ago, I learned way more than I ever did prior to that, right? Like, reading the books was great, but actually taking action, just catapulted me and into what I consider, you know, a little bit more wealth, time freedom, if you will. Before that it was just, you know, working hard.

Hoping that you're fulfilled, but I see what you and Franky are doing, and like I said, you're much younger than me. You guys figure that out a lot sooner than I did. So if I was a young resident now, I would be doing exactly what you guys are doing and uh, and you know, just learn, learn from you guys.

Find a mentor, learn from them. You know, if Alex or Franky or you know, somebody of that nature tells you to go read these three books and then do this. Action, then I would do it.

Dr. Alex Schloe: Thanks man. That that means a lot. Yeah. It's also cool that it's, you know, four o'clock, uh, it's four o'clock on a Wednesday and we're able to record this podcast episode and I love that the kids are running around there. 'cause that means

Dr. Kyle Stephenson: Yeah. Did you see that?

Dr. Alex Schloe: yeah, dude, it was awesome. I love it. Mine will probably be busting through the door anytime now.

Dr. Kyle Stephenson: It, it, it adds a human element to it, right?

Dr. Alex Schloe: for sure man. Doesn't bother me one bit. Uh, yeah. But, that's awesome. Well, Kyle, let's, let's be respectful of your time, man, and, get things wrapped up here. Any parting shots? Any any other tips or tricks? You've dropped a lot of wisdom and, and knowledge on this episode so far I think could be really impactful for folks.

Dr. Kyle Stephenson: Yeah, I think the big, the, the big topics that we talked about, is being in the right rooms. That's huge. Actually showing up to an event. I just had a buddy text me today. He is like, Hey, which doctors investor club or family office club meeting are you going to, 'cause I need you. He's like, I'm, I'm not as talkative as you, so I need to come, you know, when you're there so you can socialize for me.

Um, but showing up to those events, sign up for the, if you're a physician, resident, young physician, doesn't matter. Go on to doctors investor club.com and you can sign up, it's free, and then you can show up to any event you want to. There's 16 to 18 live events. So being in the right rooms is very important.

Finding mentors, very important. And, you know, just connecting with others. You know, if you don't have a local meetup, which I'm sure you do, whatever area you're in, go to a local meetup, whether it's real estate, you know, finances, whatever it is, and, and try to understand that stuff because again, whether you wanna believe it or not, you make good money.

You're a physician, you make good money, and so what do you do with that money? It matters. And traditional financial advisors don't love for you to do real estate because it takes money away from them. They will put you into stocks and bonds. Um, and, and let it sit forever. And, you know, the burnout rate's still 50 to 60%.

So it's like, well, I, I don't wanna just work for this job for 30 years and then come out and, you know, sit on my retirement. Like, that's, that's not gonna fulfill me. That's gonna not gonna make me happy. So understanding what to do with your money is very important, and being in those rooms, finding the local meetups, talking to the right people, hitting up, Alex hitting up, me hitting up, Franky, hitting up, you know, Jeff Anzalone, whoever, and say, Hey, what would you guys do in this situation?

I think that that goes a long way.

Dr. Alex Schloe: I completely agree. we don't bite and we love to help. So yeah, feel free to, to reach out to us and, uh, more than happy to help out along the way. Man, with, with that, Kyle, it's been awesome man. We'll go ahead and wrap things up. It's been, Dr. Kyle Stevenson. Dr. Alex Schloe with another episode of the Physicians and Properties Podcast, signing off.

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