From First Airbnb To 160+ Units With Dr. Debasmita Das and Naren Roy

🎙️ 𝗪𝗲𝗹𝗰𝗼𝗺𝗲 𝗯𝗮𝗰𝗸 𝘁𝗼 𝘁𝗵𝗲 𝗣𝗵𝘆𝘀𝗶𝗰𝗶𝗮𝗻𝘀 𝗮𝗻𝗱 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝗶𝗲𝘀 𝗣𝗼𝗱𝗰𝗮𝘀𝘁 𝘄𝗶𝘁𝗵 𝗵𝗼𝘀𝘁 𝗗𝗿. 𝗔𝗹𝗲𝘅 𝗦𝗰𝗵𝗹𝗼𝗲.

💡 What if the fastest way to build real estate confidence was not reading another 10 books… but finally taking action?

In today’s episode, I’m joined by Dr. Debasmita Das and Naren Roy, the husband-and-wife team behind Boston Rise Capital.

Deb is a double board-certified pathologist, fellowship trained at Harvard, who completed medical training in India before repeating residency and fellowship in the United States. Naren is a technologist, engineer, and former product leader who spent years building software products across startups and major technology companies.

Together, they started with short-term rentals, quickly realized the power of real estate, and scaled into multifamily syndications — growing to more than 160 units in roughly 18 months.

In this conversation, we talk about fear, physician perfectionism, imposter syndrome, taking action before you feel ready, building a business as a couple, using systems to manage properties remotely, and how real estate can create more time freedom, flexibility, and generational wealth.

🔥 𝗪𝗵𝗮𝘁 𝘆𝗼𝘂’𝗹𝗹 𝗹𝗲𝗮𝗿𝗻:
 ✔️ How Deb and Naren got started with their first Airbnb
 ✔️ Why they quickly shifted from short-term rentals into multifamily
 ✔️ How they scaled to 160+ units in roughly 18 months
 ✔️ Why fear and perfectionism keep many physicians from taking action
 ✔️ How systems, automation, and the right partners make real estate easier to manage
 ✔️ What building a business together has taught them about marriage, family, and legacy

🔥 𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀:
 ✅ You do not need all the answers before you start
 ✅ Real estate confidence is built through action
 ✅ Community and proximity can accelerate your growth
 ✅ Systems make remote investing possible
 ✅ Real estate is about more than money — it is about freedom, options, and family

If you’ve ever felt like you need to read one more book, attend one more conference, or fully master every detail before buying your first property…

Or if you’ve ever wondered whether it is possible to build wealth outside of medicine without completely walking away from your career…

𝗧𝗵𝗶𝘀 𝗲𝗽𝗶𝘀𝗼𝗱𝗲 𝗶𝘀 𝗮 𝗴𝗿𝗲𝗮𝘁 𝗿𝗲𝗺𝗶𝗻𝗱𝗲𝗿 𝘁𝗵𝗮𝘁 𝗮𝗰𝘁𝗶𝗼𝗻 𝗰𝗿𝗲𝗮𝘁𝗲𝘀 𝗰𝗹𝗮𝗿𝗶𝘁𝘆. 𝗬𝗼𝘂 𝗱𝗼𝗻’𝘁 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗵𝗮𝘃𝗲 𝗶𝘁 𝗮𝗹𝗹 𝗳𝗶𝗴𝘂𝗿𝗲𝗱 𝗼𝘂𝘁 𝘁𝗼 𝗯𝗲𝗴𝗶𝗻. 𝗬𝗼𝘂 𝗷𝘂𝘀𝘁 𝗻𝗲𝗲𝗱 𝘁𝗼 𝘁𝗮𝗸𝗲 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝗿𝗶𝗴𝗵𝘁 𝘀𝘁𝗲𝗽, 𝗯𝘂𝗶𝗹𝗱 𝘁𝗵𝗲 𝗿𝗶𝗴𝗵𝘁 𝘀𝘆𝘀𝘁𝗲𝗺𝘀, 𝘀𝘂𝗿𝗿𝗼𝘂𝗻𝗱 𝘆𝗼𝘂𝗿𝘀𝗲𝗹𝗳 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗿𝗶𝗴𝗵𝘁 𝗽𝗲𝗼𝗽𝗹𝗲, 𝗮𝗻𝗱 𝘀𝘁𝗮𝗿𝘁 𝗯𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝗮 𝗳𝘂𝘁𝘂𝗿𝗲 𝘄𝗵𝗲𝗿𝗲 𝘆𝗼𝘂𝗿 𝗳𝗮𝗺𝗶𝗹𝘆 𝗰𝗮𝗻 𝘁𝗵𝗿𝗶𝘃𝗲.

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Transcript

Dr. Debasmita Das & Naren Roy: so we started with the Airbnbs, right? And I think very quickly we w-wanted to pivot, right? Uh, multifamily is always considered the, the cream asset, right? So very quickly, like I think in a span of 18 months, we scaled close to about 162 units.

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 to another episode of the "Physicians and Properties" podcast. As always, I'm your host, Dr. Alex Schloe, and I'm so excited today to be joined by Dr. Debasmita Das and Naren Roy. They are a husband and wife team who are crushing it in Boston, uh, doing multifamily syndications, a little bit of short-term rentals as well.

We're really excited to talk about all the above as long as the-- as well as the journey going forward. So Deb, Naren, so good to see you here on the podcast. Thanks for taking the time to join us today.

Dr. Debasmita Das & Naren Roy: Thanks, Alex. It's amazing that we are able to connect again, and I'm happy, uh, to be here. Very excited.

Dr. Alex Schloe: Yeah, absolutely. It's so great to see you again. And for folks who don't know you, do you mind sharing a little bit about your background? Deb, we'll start with you first, uh, especially as a double board-certified pathologist, fellowship trained at Harvard. What did that medical path look like for you early on?

Did you always know you wanted to be a doctor?

Dr. Debasmita Das & Naren Roy: Yeah. I mean, I always wanted to know I'll be a doctor, but I never really planned to come to the US. So I did my med school back in India, and after that I worked for, like, uh, one or two years, and then I did my residency back in India. And then, you know, life happened, and I moved here, redid my residency, uh, and then fellowship.

And then I got into this, um, medicine full, fully fledged, dived into the medicine world and realized that probably I need to do something out of medicine. It's a long tr- It was a long road. Uh, I just wanted to, you know, venture out a little, and that's how real estate happened.

Dr. Alex Schloe: That's fantastic. What was it like doing residency in India and then coming and doing it again in the United States? Were there-- Uh, was it pretty similar or different, or what were some of the, the, the differences there?

Dr. Debasmita Das & Naren Roy: I think the most biggest challenges were taking the steps, because I hadn't taken the steps. So just to come back, come out of residency, and then go through the entire, you know, medical curriculum, take the steps again, that was challenging. But apart from that, residency was, you know, how it is everywhere.

It, it is cheap la-labor. You have to work. So we were working a lot back in India as well as here. So, uh, I think it was pretty similar that way.

Dr. Alex Schloe: Did you always want to do pathology or, or was that something that you came upon in med school?

Dr. Debasmita Das & Naren Roy: No, I wanted to do pathology, so I was pretty sure about that part

Dr. Alex Schloe: That's cool. That's awesome. Naren, uh, what about you? Tell us a little bit more about your, uh, professional background before Boston Rise Capital, and then what originally sparked your guys' interest in real estate?

Dr. Debasmita Das & Naren Roy: Yeah, great question, Alex. So I, I've been in the country for much longer than Deb. Like I say, like I've spent more than half of my life now in US. I moved here as a young graduate student. I went to NC State, uh, Wolfpack, uh, for grad school in engineering, and then graduated myself and moved to Seattle. Uh, my first job was at Microsoft, so I'm a technologist by heart, right?

And, uh, as I started my career, I lived in Seattle for like, uh, a, a good 12, 13 years. Seattle still has a very special place in my heart. I love that city. And then eventually moved towards the business side and the strategy side of technology companies. So I did, uh, product management where I was owning, um, PNLs and, and actually envisioning what products should look like, right?

So, uh, wore, wore that, uh, strategic hat, right, alongside being very technical, working with engineers on, um, w- what it makes, right? And how do you, how do you build great software products, right, that customers love to use, right? And inherently, like the part of that profession is to have this obsession with understanding what your customers need and what we call in our world the product market fit, right?

It's a PMF, right? So, uh, I've worked, uh, across like two decades of my career, uh, both across startups and big Fortune 500 companies, um, across the entire country, all the way from West Coast to East Coast now, right, since we moved east, right? And then I think o- over the past two decades, right, I, I, uh, started reimagining, I think Deb sparked that in me, like our, our values is more than what we are, uh, tied to our W2 jobs, right?

Like how do you create a lasting legacy and impact, right, that you leave in the world, right? Uh, and- Time freedom, right? Time freedom. We started learning more about generational wealth, which is, right, like not just about having money, right, and wealth, but it is more about time freedom or even leaving a legacy where you can even teach others, right, on what you have done, right?

There is wealth outside of your knowledge of whether it's medicine or engineering and stuff, uh, there's more life around, right? And that's what really sparked the interest and we started on this journey, right? Obviously, being an immigrant, right, I had to fight a lot of battles within my head, right? And we all do, right?

Uh, on, on how you have how do you leave your comforting W-2 jobs and you wanna venture out, like, uh, along with starting a family, having two small kids. There's a lot that involves. So that, that in a nutshell has been my life story, and I'm, I'm very grateful for the country. I'm very grateful for where we live.

I'm very grateful for my partner. Very grateful to have a community, right? And, and hope to give back and teach others on what we have learned as well.

Dr. Alex Schloe: Absolutely. I love that. That's, that is great. Y-y-you mentioned the imposter syndrome. Um, d-Deb, was that something that you struggled with as well as a physician as you guys were kind of building things on the outside a-as well? Like, how, how are people gonna take this with me being a doctor but also doing real estate?

Or is that something that you're like, "Hey, I don't even care about. I'm just going, I'm going for it"?

Dr. Debasmita Das & Naren Roy: Oh, yeah. I struggle a lot. I still struggle, honestly. Um, but you know, like, you have to, like, weigh out what do you really want and, like, fight your battles, right? So, uh, a lot of mindset work had to be done before, um, really publicly announcing about our company. We were doing real estate, um, but we were not, like, really talking about it much.

We were doing, like, smaller real estates. But once we get-- got into the syndication route, we really had to announce it. And when I went on my LinkedIn profile to announce it, it was such a weird feeling. I will never forget that feeling. It was a weird feeling, and I just had this huge fear of judgment. But once I did it, I'm like, "It's okay.

It's okay." Let people judge. Um, yeah, I, I don't-- I, I'm way better now. But still there are times, like, you know, when I go to these, uh, doctor meetups and, med- medical meetups, medical conferences, there is always a judgment, I feel.

Dr. Alex Schloe: Yeah, I think sometimes physicians can be kind of their own worst enemies when it comes to that. Like, there's, there's definitely a pack of physicians that, like, it feels like you should only be doing medicine, you shouldn't have any other passions or side hustles or hobbies or investments and, um, you know, I get that, but you also think about how much time we've gone through in terms of our training and, uh, med school and residency and all these other things, and it's totally fine to like and want to do and pursue other things.

And, um, for some of us, that's real estate and investments and entrepreneurship, and we understand the, the value of time freedom and spending more time with our family and doing things that frankly, you know, matter mo-more, uh, than practicing medicine, and that's, that's being a good parent and good- being a good spouse and being a, you know, a good steward to the community.

And so, um, it's, it's definitely a battle I feel like everyone struggles with, and I know I have as well, so thank you for sharing that. Uh, well let's talk about the shift into real estate. So when-- how did you guys first get started in real estate? What did that look like for you as you started to take the leap?

Dr. Debasmita Das & Naren Roy: Okay. So, uh, we started because, we were, um, we were trying to cut down on our taxes, honestly. That's how we started. But we just didn't know what to do, so I just, uh, saw an ad on Facebook about a real estate conference, and I decided to go there. And once I, once I was there, I was blown away by the amount of available options and opportunities and a different, total different new world was-- which was extremely exciting to me.

Um, came back home, and I shared it with Naren, and we were like, "We have to start something." So we started. So this was, like, in October, and by December, we closed on our first Airbnb.

Dr. Alex Schloe: Wow, that is quick. That is awesome.

Dr. Debasmita Das & Naren Roy: That was quick because we were, we were very, like, we really were very-- We were itching to do something, but we just didn't know what to do.

Uh, but then suddenly we had that guidance. I mean, that ma-made some amazing con-con-connections. And you know how the physician community can be. They're so helpful, and they're so out there. Everybody's trying to help out each other. So that's how we started with our Airbnbs. And then we wanted to scale, so we decided that probably Airbnb is not the way, um, to scale.

We started loving real estate, and we were like, "We have to start it as a serious business," and wanted to scale up, so that's how we got into syndication, right? Correct. Yeah. So, so we started with the Airbnbs, right? Like, and, and I think very quickly we w-wanted to pivot, right? Uh, multifamily is always considered the, the cream asset, right?

And, uh, honestly, it was, it was more of like even pushing our boundaries like mental boundaries. Like I think it started with having challenges, right? And, and knowing that we could do it. So very quickly, like I think in a span of 18 months, we scaled close to about 162 units. Um, uh, and I, I think that's the power of mindset, right?

Like one thing, uh, if peop- viewers are listening to it, right? Like, and we talk about this all the time, that you'll not always have the answers, right? And, and it's scary, right? To think about, right? Where you're putting... But, uh, o- one thing for, for viewers to understand, like you will never know all the answers, right?

And probably even for our occupations, right? We, we always don't know whether it's a diagnosis or if I'm looking at a code or like what I'm building or how, how customers are going to react. But you will find ways to figure it out through the way, right? And, and that's, that's the part of the mindset is like taking action.

So we, we, we are big proponents of like take action and I think you will figure it out. You have to figure it out. But taking action is where you really push your boundaries and make something big happen, right? And creating like

Dr. Alex Schloe: Yeah, absolutely. That's amazing. Such, such a quick timeframe of growth and, and definitely you guys were action takers. What was it like that first short-term rental? What did that process look like for you going from just learning about this to two months later closing? Um, it was probably a decent amount of drinking from a fire hose in terms of learning how, uh, to, to run a short-term rental and so forth.

But what was that like? How did that turn out for you?

Dr. Debasmita Das & Naren Roy: Pretty good, right? Uh, and I think, like, uh, we knew we wanted to get a short-term rental in a, in a good market that, that cash flows well. So, uh, obviously we underwrote it, right? And underwriting, as you know, Alex, right? It's a, it's a skill set. It's, it's never a black and white answer, right? Like your, your hypothesis and your pro forma can just go, uh, this high, right?

So we knew we were getting into great market, right? We knew that numbers only do justice on paper, knowing, giving you kind of a hint whether you should go forward or not. It is post-acquisition, you know, to any real estate asset, what do you do with it, right? How do you optimize this? Where the sweet spot landed.

So we quickly understood, right? That, uh, let's move on this really quick. We acquired it, and then we put some hard work on, like, figuring out the science behind it. So some of my engineering helps me in understanding in, in how these search engine optimizations, whether it's on Airbnb or other places work, right?

Like, where do you find the juice, right? How do you figure out what is their competitive set, right? How do you do a quick rapid experimentation on things? And that's what really triggered for us, right? And I, I started loving the world, right? Once I got into it. I didn't know I would be doing this full-time, but now I do this full-time, and I love it.

Dr. Alex Schloe: a check, uh, it was a short-term rental, but, like, that direct deposit, you realized like, "Hey, this is working. Like, we're, we're cash flowing, uh, we have the tax benefits." Like, was that even more of a mindset shift for you that like, "Hey, this is, this is totally possible"?

Dr. Debasmita Das & Naren Roy: you don't-- like every- everything is theoretical otherwise, right? Like you listen to it, you see people, right? It's-- And that's why taking action is so important, right? Like you-- I, I, I remember like even the first check wasn't that big, right? Like, and obviously like within the first month or two, uh, you have to quickly, uh, bury those demons inside your head, right?

Like, okay, I'm not gonna see a $1,000 check right away, right? And, and you, you eventually, right, keep working on it, right? And it is that mindset that takes you further away, that I'm gonna- Turn it around, right? And we want to make it even more cash flow. So I remember, like, eventually in, like, uh, in four to five months, we, we were cash flowing pretty well, like almost 20, 30% on our Airbnb, and that's where it really hits the- Yeah

sweet spot, like, okay. I, uh, another thing which really excited me was when the first booking, official booking came on the Airbnb website. I'm like, "Oh my God, we got our first booking." That was very exciting to me. More than the cash flow, I, I think I really got excited with that, and then eventually, you know, the money k- kept rolling, so obviously.

But, um, yeah.

Dr. Alex Schloe: Yeah, those bookings, it's, it's almost addicting when you get that, uh, you know, booking inquiry or you get the new booking on Airbnb or VRBO and you're like, "Oh man," that dopamine hits and you're like, "This is amazing. I'm, I'm making money while I'm sleeping," and, uh, it's, it's pretty incredible. That is awesome.

Deb, what do you think in terms of taking action? What do you think holds a lot of physicians back from taking action?

Dr. Debasmita Das & Naren Roy: I think, um, firstly, there's very, um... I think the fear is number one. Uh, obviously, like they're r- they've been trained in this whole journey of medicine for such long years, and they're so confident in that arena. So to venture out and start something new, a lot of people have the f- a lot of fear, I feel.

And they're such perfectionist, so for most physicians, they need to read like 10 books or know everything in and out before they can actually take an action. But that is never going to be possible because there are some, so many books out there. You cannot read all the books. So fear and, uh, being a perfectionist, I think these are hindrances, um, to the mindset.

Dr. Alex Schloe: I agree. Were there any mindset resources or books or conferences or people you listened to that really was instrumental for you guys?

Dr. Debasmita Das & Naren Roy: Yes, absolutely. We were a big fan of Tony Robbins, so we attended a lot of Tony Robbins', um, conferences. We also did Tony Robbins's b- uh, Business Mastery, which helped us kind of gain the knowledge of how to run a business. Um, and then community. So I started hanging out with people of similar mindset who wanted to venture out and do something outside of medicine.

So, and, um, you know, how, with whom you hang out, the, it's so important, right? So that helped, and also like listening to such wonderful podcasts. You are one of them. I used to con- I used to listen to your podcast a lot, and then a lot of other podcasts. Those constant, uh, feeding your brain with things which align with your interest helped a lot.

Dr. Alex Schloe: Yeah, that's great. I love Tony Robbins and, and I completely agree. Getting in the right room with the right people, ideally in person, is, uh, is such a game changer. And surrounding yourself with the right people who are just gonna build you up, but they also give you the opportunity to see what's possible.

And I think that's what's cool about being, uh, you know, on a podcast and hosting a podcast, is talking to so many amazing people like you guys and even myself. It's, like, so cool to see, hey, this is, this is what they did, this is what they did, this is what they did. And you realize what's really possible when you have that mindset, when you get in the right rooms, when you have that community, it can just really change the game for you and, and, and lead to such a huge impact, not only for you, but also for your family and that generational wealth and legacy and so forth as well.

And a lot of times people are just scared to, to take that first step, whether it's going to the conference or listening to the podcast or going into the room, and I would just encourage you to do it 'cause you never know how that's gonna impact your life.

Dr. Debasmita Das & Naren Roy: Yeah. Yeah. We, we talk about proximity is power all the time, right? Like your, your network is a net worth, right? Like these things we've heard when we were in 15s and 20s, right? But it didn't make sense then. And I think as you mature through the age, right, it just makes more sense as you, as you listen through it, right?

And I think another thing to add for, for us, right, like, um, doing the same mundane thing that we have always been doing, whether it is clinical or technology and stuff, right? Uh, I think the part of the mindset was to like, let's try. Life is short. It is indeed short, right? You really don't know what's gonna happen tomorrow.

So just having, uh, a gamut of different experiences, whether you, you pass or fail, at least you're not repenting that you didn't try it, right? It's just that fun part of things, doing something different, right? And our great country gives us this, these opportunities that a lot of people are not privileged to have.

So, so why not, right? And I think that's how, uh, I, I, I fed my mindset, right, over the years. It's changed quite a lot.

Dr. Alex Schloe: Yeah, that's a, that's a great mindset to have. And I think, you know, especially physicians or high-income earners, they have that fear of, like, just getting started and buying one property. And, you know, I, I would wager even if you guys bought that first Airbnb, and for some reason it didn't-- the underwriting was off and maybe it didn't cash flow, um, very well for you, you'd still would be able to have figured it out.

Um, and a lot of times I feel like physicians have this, this great fear of like, "Oh, I'm gonna buy this rental property. I'm gonna lose everything, and what am I gonna do?" And it's like, well, in reality, we're fortunate to have that high income. W- you could probably just pick up another shift if you need to, or moonlight a little bit while you're figuring out the process.

And real estate, it has never gone all the way to zero, so you're not gonna lose all your investment. So why not just give it a shot and see what you can do?

Dr. Debasmita Das & Naren Roy: Exactly. I also feel it's important to have the mindset that it's okay to lose some money if needed.

Dr. Alex Schloe: It'll happen at some point.

Dr. Debasmita Das & Naren Roy: happen. I'm sure it's gonna happen. So, it's always good to k-keep your mind in that, you know, open-mindedness, just in case.

Dr. Alex Schloe: Yeah. Yeah, it is. And be okay with the idea of like, hey, not every deal is gonna be a home run. We just wanna hit some singles, get started. That first deal is the hardest one. Um, just mainly the hardest one to overcome the mindset and the limiting beliefs. And then once you do, then it just snowballs from there, um, for the most part, which is great.

Let's talk about scaling. So you guys went from the, the short-term rental to 168 units in 18 months. Wow! What was, what was that like for you?

Dr. Debasmita Das & Naren Roy: Yeah. Yeah. So j-j- in between, we bought a couple more Airbnbs as well. So after we were like, we were like, "Okay, this is good. Single family homes are great," right? But it's not where we see ourselves. How do we, how do we push boundaries, right? To even scale. So, then we started, uh, looking at multifamily, right?

And we narrowed down to certain areas, right? I, I'm a big fan of going to cities 'cause I like betting. I just like to go into cities which I think are on the brink or the verge of breaking into a tier two city, right? So places like Cincinnati or Ohio and the Midwest, right? Which I think have a lot of uh, say like a lot of, lot of, uh, foundation to just become or become the next Boston or become the next Seattle or, or become the next Austin or Charlottes of the world, right?

That's where- Uh, I found the most value in going after. So we, uh, went and purchased a 84-unit in Cincinnati. Um, and I think we figured that our buy box was more into, class B, B-minus properties where you can really make a big difference, right? Which not only cash flows, but then appreciates well. So we went under contract on that 84-unit in Cincinnati, right?

And, um, obviously we needed to raise, right? You're not sitting on that capital. And, and I think for a first-time capital raiser, right, people that have never done marketing, right, like we figured that when you go authentic and you show value back to investors on what they are, uh, investing in, uh, it just, it's not that hard, right?

So we, we raised close to about, um, 2 million, for that asset, right? For a first-time, uh, capital raiser, we're very proud of ourselves, right? And

Dr. Alex Schloe: That's amazing. Yeah, you should be proud. Two million for a first raise is huge.

Dr. Debasmita Das & Naren Roy: It helped us, right, go through the mindset and, and we learned a lot of things, right? On how, how to be transparent and authentic and, right, build that investor base, right? Goes a long way. Uh, and, uh, a lot of times people think that being authentic, right, is, is, is, is okay 'cause people don't care. But just, just laying down the ground rules of what we see, right?

Even if it is, um, whether it's black as a black or white as a white, right? I, I think people relate. Everyone is a human being. They all- have good intentions, right? They all understand that things don't just magically change within a day or two. And that let us, uh, obviously it was a Fannie Mae loan, so it was a federal loan.

The federal loan comes with its own sweet, timeline and, uh, and grievances, if I can say that, comes associated with it. So we had to be patient. We learned a lot on that first acquisition, right? And at the same time then we went co-GP into another 74-unit in Atlanta with a few of our other physician friends, right?

And so it was the Sun Belt and Midwest market was really, really uh, where we felt the most need. And, on that co-GP product also, we raised, uh, a lot of funds for our-- for that acquisition. And we then we recently closed on a six-unit in Boston. So I wanted to have something that I can physically, uh, manage myself, right?

And- I love it. So all these, all these properties are, uh, we are not just capital raisers, we are owner-operators, right? I wanna have, uh, a good grapple around, the property so, I can protect investors' money, right? And, and figure out optimization. And I think with my background, right? Whether I've owned P&Ls and strategy and stuff, it, it really helps, uh, to, hopefully we will, we haven't had the exit yet, but, uh, three years down the line when we have exits, it will be a sweet, sweet part for everybody to, uh, get benefits out of it.

Dr. Alex Schloe: That's amazing. Yeah. What, what have-- what are some things that you've learned with the Boston property, being local and, and managing that, uh, you know, more hands-on? Any systems, tips, or tricks or anything like that that you've learned?

Dr. Debasmita Das & Naren Roy: Yeah. So like, uh, everything else that we own is out of the state. So I think we really, uh, let me start with saying like a lot of people get scared with the fact that like, hey, remote property management and remote things, right? Like it's a big, it's a big mind block, right? But, uh, I think everything boils down to putting systems in place.

So how do you put those good systems in place, whether it is in your Airbnb when you're working through, uh, cleaners or handymen, or what kind of automations that you can put in place. Like I have leveraged AI a lot over the past year and a half, right? And, and really made it so much automated that on my Airbnbs, I spend like maybe two to three hours a week maybe even that if I, if I remember that I should do something on optimizing with it.

So, uh, so I just wanted to mention that with, with the viewers and the listeners that don't at all be scared when it comes to remote, um, properties, right? You should location, location, location. Again, that's very key and important to have, right? The reason we went after a Boston property is that we really wanted to have something local that we could manage.

Obviously, um, I think the tax angle with REPS is also a big proponent for it. But at the same time, uh, New England has a good amount of rents, right? Like you can, you can even like 50 minutes away from downtown, a one-bedroom can, can, can get like $2,000 a month. So it is, it is like that's where Northeast and New England really sits in, right?

And so we wanted to take advantage of it and, and see how it feels. So I think the, the lessons that we have learned, obviously, um, whether it is-- 'cause you're never gonna live like 10 minutes from a property you buy, unless you're buying a long-term rental. That's never gonna happen. So whether you live 50 minutes away or you live three to four hours on a flight, it doesn't matter, right?

It's the same kind. You still have to figure out how to put systems in place. It's, it's about systems, systems, and systems. So, so, and you don't try doing everything together at the same time. So, uh, when I, when I teach in my course to the Airbnb owners, I tell them about how do you think of optimization, right?

You, you first think about like, "Hey, uh, what do I need to get this property started, right? What kind of automations can I put in this?" Like whether it is AI messaging or not, right? Then I wanna think about pricing, right? Which comes in month three or so, right? And, and month six and onwards, you try to think about like, "Hey, should I have my own website for my, uh, vacation rental?"

Or like, "Hey, how do I more optimize this?" So it's about how do you put these systems in place, right? One after the other that can, that can really help you trigger some of these, uh, things. Hopefully, I answered your question, Alex, on what you

Dr. Alex Schloe: Yeah, absolutely. Yeah, I think systems are huge, and like you mentioned, not feeling that pressure of like, "Hey, I have to do everything all at one time. How can I just start stacking layers of these systems on top of each other, uh, to make things more efficient?" is a great way to do it. And I, I agree. I think a lot of times folks are scared to not invest in their backyard.

But, uh, it, sometimes out-of-state investing is easier. It gives you access to potentially better locations, maybe lower pricing, um, and really the systems make it possible to do it anywhere. And so it's a really, really great opportunity from that perspective. Um, Deb, what do you, what do you think, for physicians, uh, who are thinking about partnering with other physicians?

They're like, "Hey, I heard that you guys partner with other physicians as co-GPs, uh, to take down a syndication project." What do you, what do you think physicians should look for if they're looking for a partner?

Dr. Debasmita Das & Naren Roy: I think it's, um, for, for like what we-- I'll, I'll tell you what we did because we also partnered with other physicians. I think firstly it's important to like the person as well a little bit, you know, vibe, vibe a little bit so that, um, the value systems are aligned. You have similar goals, you have, um, your mindset is similar.

Those things are important. And then, um, I guess, um, what are their vision is important. Like what-- if they're looking to scale or are they looking to, uh, acquire like a hundred unit property or are they acquiring like a smaller unit? Because that's what we were looking at initially. We wanted to partner up with, um, people who had similar vision.

And also because we were new that time, we wanted to partner up with, uh, experienced people so that we can learn from them. So in my opinion, people who are starting out, if they, if they wanna learn something, it's a good idea to partner up with experienced people to learn. And, um, and then once you build relationships with partners, you know, you can carry on, you can decide if they, you wanna partner up again later in the future deals or just that's it.

So I, I'm, I think... Anything else? No, right? No, nothing. Uh, you, you gotta find the right partner, right? And obviously, uh, you might not find it the first time, and it's okay, right? So trial and error gets you the, uh, the perfect person that you think. It's just like with marriages or finding your life partners, same deal, right?

Like you date, uh, and you see, right? If it hits off, right, and then you decide to marry.

Dr. Alex Schloe: What has it been like, speaking of, uh, working together as a couple, what has it been like building Boston Rise Capital together? Uh, how's that process been for you?

Dr. Debasmita Das & Naren Roy: I think it's been amazing. Like, um, I, I always believe in growing together. I would never want just one of us growing. So the whole f- fact that both of us are growing together and um, we are sharing ideas, we are constantly motivating each other, we are constantly learning from each other. So that whole process of growth has been fantastic.

Uh, even like going for these mindset workshops, Tony Robbins, you know, when Uh, you go for that, that, and then you come and you apply it in your own personal life as well. So it's just not about the business, it's about like stay-- for example, like, being pres-present. Like, he talks about being present all the time, right?

So like being present, like giving, uh, enjoying each and every moment and things like that, basically. So the whole process of growth has been fantastic. I also like the fact that, you know, like, because we are in different professions, we-- I would never really come back and discuss too much of my clinical work, maybe a little bit once I came home.

But now we have, like, so much to discuss, you know? There's so much to discuss, so I like that as well. Um, but we also do like, you know, we also, like, go for date nights where we are like, "Okay, we are not gonna discuss any business tonight. It's just, uh, just a date night," you know? But still happens. So you have to-- But it still happens.

Dr. Alex Schloe: yeah.

Dr. Debasmita Das & Naren Roy: So we

Dr. Alex Schloe: Guilty here too.

Dr. Debasmita Das & Naren Roy: So, uh, y-yeah. So, also having boundaries. Sometimes you can just go off boundaries, right? Too much, too much can happen, and then there can be clashes. So you have to like, "Okay, stop. Let's just take a break. Let's not discuss." And then, you know, you have to-- basically having a very, very intentional life is what we are going and doing right now, especially after we started all this journey of real estate and mindset work, uh, being extremely intentional about our time, whether it with, it's with our, uh, it's with him or whether it's with our kids, with our parents.

We are very intentional, right? Yeah. So I, I highly encourage, Alex, like to anybody I speak to and coach, right? Like even if you don't have your life partner as a business partner, it's very important to have on the same table just because I think, uh, the value I have found is that, just diversification of ideas, right?

You might not always know the answer. So if you don't have anyone that you can brainstorm with whether you are doing the right thing or not, right? Or, uh, I think it just opens up fruitions and blooms, new things, uh, or just a new way of thinking, right? And, , I'll be vulnerable here, right? I, uh, between, in, in our relationship, I'm the one who is, uh, who, who takes a lot of overthinking and stuff like that, right?

And, uh, and I think Deb brings a little different perspective of stuff, right? Like where it holds me back or saying like, "Hey, it's okay," right? Like, um, the house got flooded because of a pipe burst issue, right? Like, okay, it's okay. It happens, right? But that shouldn't deter you from your, uh, business goals that you should have, right?

And how do you still push your mindset to Think beyond the obstacles, right? It's, it's very important. So my, my big recommendation to anyone listening is, right, like even if you don't want them have a as a business partner, at least have your life partner be on the same page where they can support you and you get another, uh, bouncing, wall where you can bounce ideas off or have like a place to, uh, yell.

That's a good one. Or, or think. So, so ha- having-- I think having a couple as a partner for, for us at least, and we were lucky 'cause we come both from different professions, so it's obviously a very different, uh, mindset. And I think that has- Yeah ... maybe played a little bit more towards our favor- Yeah ... that we could, uh, uh, bring different perspective to the same problem.

Yeah. And we also like, uh, it's we also did like this personality test. Uh, you, you know, you, you must be aware of the DISC score. So we are absolutely complementary to each other. So that is like a perfect way to make a team where two people are bringing different strengths to the game. So yeah, that was also like, uh, we were like when we were starting out, obviously there was a lot of anxiety because, you know, you're mixing business in your personal life.

So, um, but once we did that DISC score, we're like, "Okay, let's do it." Yeah. Yeah.

Dr. Alex Schloe: That's great. Yeah, that's great advice. Yeah, DISC profile or Working Genius is another good one too that you can do and, uh, figure out, "Hey, like, what is someone's zone of genius? What do they really like? What do they really dislike? How can we complement each other together?" And I'd encourage everyone to do that, whether you're, it's a couple or a partnership, uh, to figure out what those zone of geniuses are and how you can complement each other effectively.

That is awesome. Well, you mentioned generational wealth, you mentioned legacy. How has, uh, real estate entrepreneurship changed your family's future?

Dr. Debasmita Das & Naren Roy: Like, so I have this mantra, right, which I try to repeat to myself, um, that I'm not just, right, working for money. I'm trying to build a future where my family thrives, right, without any limitations. I think, I think it's important I give a future to my kids or my coming legacy that they never have to start from scratch, right?

It's a, it's a level playing field where they ne- they never have to trade their dreams for financial security. I think, I think that was, uh, a game changer thought for me, right? Which I still need to repeat myself every day. So I'm not perfect, right? It's not like I've become the next Tony Robbins, right?

Like, I have my imposter syndromes, I have my fears, right? But I think repeating yourself these things, right, helps a lot and- But how has it changed? How, how has it changed? I think, I think just having, um, obviously, right, owning a business, right? It's not like, uh, it's, it's not a home run, so it's not like you start making money.

But I think having time freedom, right? Working on your own stuff obviously gives you a lot more flexibility where we choose to spend time with kids when we want to. Obviously, we have, uh, taken a lot of vacations since we started, right? Yeah. And we have given some dedicated time to the family, to the kids, and a lot of times, like, uh, that wouldn't have been possible if we were tied to our W-2- Yeah

things. It gives a lot more flexibility, and just the fun part of it, what I talked about, Alex, before, right? Like just a different thing to do I think is exciting, right? Yeah. Like rather than what we have learned for 20 or 30 years of our life, or we were fed to learn from 20- Yeah ... you know, 30 years of life, right?

Like our educational system definitely in our country needs a, needs a change, right? Entrepreneurships and stuff like that. People have to be encouraged to think about it, right? So it is breaking those shackles, to be honest, right? Yeah. Like the golden handcuffs and other stuff. Yeah. I actually, because of all this, I was able to also, um, uh, leave my W-2 job and get into a independent, uh, contractor job.

So again, that was the mo- the main focus for that was time freedom. So now I can take my vacations at my own time. I don't have to wait for some coverage. So it's, it's just amazing. The

Dr. Alex Schloe: That is amazing.

Dr. Debasmita Das & Naren Roy: Yeah.

Dr. Alex Schloe: Yeah. Yeah, the freedom is, is, is huge and it's, it's, it's so worth the hard work. I don't wanna under- understate the hard work, and I'm sure the very stressful times and the difficulties that you guys went through to build what you have built. But I'm sure at this point, having that freedom makes it all worth it, and having more time with your family makes it all worth it.

I know I feel the same way. I've-- I'm so blessed, uh, for the situation that we're in and able to work PRN in medicine. Same-- Similar to you, pick what shifts I wanna work, um, because I still love seeing patients, not because I have to see those patients. And so, um, that is, uh, that's been a huge game changer. Yeah. That is awesome. Well, as we wrap things up here, what is, uh, one last piece of advice that you'd wanna give someone who's just getting started, uh, and they're just trying to figure out what to do next? What's one next step they can take this week?

Dr. Debasmita Das & Naren Roy: Um, for me, I think, um, I would really advise people to, you know, surround yourself with like-minded people. So that will really motivate you, and you will see that what is-- w-what impossible things people are doing out there just by surrounding yourself. That will spontaneously and automatically give a mind-mindset shift.

Um, and then taking action. It can be in any form. Say you wanna start up with some sort of investment, start with a passive investment. You don't have to operate. If you wanna start with Airbnb, but you don't know which kind of Airbnb, start with a, um, course. Somebody will be there to guide you, and then you're all set.

So basically, take action in any way you can, um, and surround yourself by, with right-minded people. What about you? Yeah. So I think, I think again, comes back to action, action, action, right? It is about like, you don't need to know all the answers, and you'll never know all the answers. Like, I think everyone in this world, right, like who have succeeded or become successful, they all started with an idea, right?

And not knowing all the answers that they would get to, whether it's Steve Jobs or Warren Buffet or whoever we talk about, right? So it is, uh, I think I-- if there's one thing that the, the viewers can do is to, is to sit down and take some action towards their goals, right? Financial independence and generational wealth, these are not just buzzwords, right?

It is actually true. There's so many examples that both you and me know about and have seen, right? It is, it is about how you create legacy, right? And like I said, it's just not about having money in the bank, right? It's, it's much more than that, and I highly encourage anybody, like have, have a single action.

You will figure it out and go after your goals.

Dr. Alex Schloe: I love it. Yeah, and sometimes that first action is just writing down what your goals are and figuring out, "Hey, what is, what is my vision? What do I want things to look like in the next one year, three year, five years?" And, and writing that down. Um, and, and just by writing it down, you have such a higher likelihood of it happening.

And so maybe that's the first step for you as well who's listening today. Man, this has been, this has been awesome. I've been really looking forward to this conversation, and you guys, uh, definitely delivered. For folks who want to reach out to you, they wanna potentially work with you, coach with you, learn more, how can they do that?

Dr. Debasmita Das & Naren Roy: Yeah. So Boston Rise Capital is our syndication firm. So we are always rai- raising. We always have projects in the pipeline for people to, um, invest with us, right? And, uh, get our skill set that we like to talk about on bringing authenticity back to our investors, leading with transparency, right? Uh, I think it brings a lot of that, skill set back and I think, uh, differentiates us from others, right?

Having my technology background, it really, really helps in bringing, uh, a different way of looking at these multifamily investments for passive. And then at the same time, I have a, a coaching program, uh, for shorttermaquisitionlab.com. We call it shorttermaquisitionlab.com, which is about, um, I help clients who d- who are mostly physicians, acquire a short-term rental, uh, in 120 days.

So it's a very highly white glove kind of service, right? And very palatable, uh, to, to physicians as well from a price point. It is me sitting in the cockpit with them, helping them find the right market, the right property. Um, I help them underwrite it. I help them even after closing on post-closing, what will be, uh, what kind of post-acquisition, science.

There's a big science that's behind after post-acquisition, how do you make your property really well? So I teach them about that, right? So people can reach out to me on Boston Rise Capital, or shorttermaquisitionlab.com to, to learn a little bit, and, and I'm more than happy to help anybody in the community.

Dr. Alex Schloe: That's great. Thank you for sharing that. Thank you guys so much for tuning in, for, for coming here and dropping the wisdom and the knowledge that you've shared today. I'm excited to see what the future holds for Boston Rise Capital and for you guys going forward. Uh, with that, we'll go ahead and wrap things up with Dr.

Debasmita. Uh, Dr. Debasmita Das and Naren Roy and Dr. Alex Schloe signing off.

Hey, real quick, if you're still listening to this, I'm assuming you got value from it, so I need your help specifically. My two-year vision with this podcast is to help one hundred thousand physicians learn how investing in real estate can give you the freedom to practice medicine and live life how you want.

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