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

💡 What if your first house hack could snowball into $75M+ of commercial real estate—and a life built on freedom, not a paycheck?

In this episode, Dr. Schloe sits down with Neil Henderson—real estate investor, co-host of the Truly Passive Income podcast, and General Partner at Nomad Capital, a self-storage syndication firm in Wilmington, NC. Neil went from an Airbnb casita in Las Vegas to raising $17M in equity and operating 311,000+ rentable sq ft of storage by mastering partnerships, conversions, and capital allocation.

They unpack how house hacking led to FIRE thinking, why he chose self-storage conversions over ground-up builds, and how physicians can leverage time, experience, or money to create truly passive (not pretend) income.

💥 What you’ll learn:

 ✔️ How a simple house hack funded big moves (and why “reduce housing/car costs” beats skipping lattes)
 ✔️ From FIRE to freedom: translating the 4% rule into cash-flow goals
✔️ Self-storage 101: why conversions (Kmart, grocery boxes, warehouses) can beat ground-up builds
✔️ The math that matters: NOI, cap rates, and buying below replacement cost
✔️ Partnerships that work: bring complementary skills, date before you “marry”
✔️ Passive vs. residual income—and when busy physicians should stay clinical and invest passively

🔥 Key Takeaways:
 ✔️ House hacking is the fastest on-ramp to real estate (especially for residents/fellows)
 ✔️ In storage, buy cheap boxes + convert fast > build slow and expensive
✔️ Guardrails win: keep the main thing the main thing, invest with experts
✔️ Consolidation is coming—position deals for institutional exits
✔️ Experiences > things: build wealth to buy time with people you love

If you’re a physician ready to turn active income into durable, passive streams—and want a clear playbook from house hack to commercial—this episode is for you.

Connect with Neil Henderson:

Website

LinkedIn

Podcast

Instagram

Road to Financial Freedom

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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