HEATHER EWING: The CRE RUNdown
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HEATHER EWING: The CRE RUNdown
Ep. 37 Calvin Lowe - Balancing Medicine and Real Estate for Generational Wealth
What if you could balance a demanding career in medicine while successfully creating generational wealth through real estate? Join us in this captivating episode of The CRE Rundown as we sit down with Calvin Lowe, a full-time pediatric emergency medicine physician and co-founder of Peace Equity. Calvin shares the inspiring story behind the creation of PeacEquity, a name deeply rooted in his family's legacy and dedicated to achieving peace of mind through real estate investments. Hear Calvin's insights on how he manages the high-pressure demands of his medical career while excelling in real estate syndication alongside his wife. Discover the personal influences, particularly his mother, that have driven him to pursue this path, and learn about the current capital raise he's involved in.
Transitioning from a career in healthcare to multifamily real estate is no small feat, and Calvin walks us through the steep learning curve he faced. Uncover the strategies he employed to build his knowledge and partner with trusted experts, and how influential books like "Rich Dad Poor Dad" and "Why Doctors Don't Get Rich" played a pivotal role in his journey. We also touch on the unique challenges faced by female healthcare professionals and the importance of a strong mindset in achieving success in both fields. Kelvin's experience is a treasure trove of lessons on how to approach new ventures with a long-term perspective and the necessity of continuous learning.
Networking and community-building are crucial elements in real estate, and Calvin's experiences hosting meetups offer valuable insights for anyone looking to explore this field. Learn how Calvin fosters trust within his community and the parallels he draws between real estate investment and endurance sports, such as triathlons. His story is a testament to overcoming fears and the importance of mentorship. Calvin also shares how you can connect with him directly to further engage with his work at PeacEquity. Don't miss this enlightening episode that promises to inspire and educate in equal measure!
Welcome to Heather Ewing, the CRE Rundown. I am your host, heather Ewing, and today I have the pleasure of sharing with you Kelvin Lowe of Peace Equity. Kelvin, welcome, thank you. Thanks for having me, definitely. It's a pleasure, so we've connected through LinkedIn, like many of my other great guests as well. It's just an emporium for great commercial real estate investors, brokers, lenders, you name it. I've known you for a little bit. Why don't you share with our audience more about you so they can get to know you?
Calvin Lowe :Great Again. Thanks for having me here. My name is Calvin Lowe. I'm co-founder with my wife at Peace Equity. I'm actually a full-time pediatric emergency medicine physician and my wife and I found Peace Equity a couple of years ago. It has special meaning for us because the first four letters of peace represents the first letters of my family's names, so it's Peggy, elizabeth, austin and Calvin. Our philosophy is peace of mind, family and generational wealth. So we're a real estate syndication. We're real estate syndicators and we help people along their journeys for passive income. I've been a physician for over 30 years and I'm thinking okay, it's time for me to start thinking about retirement. So I'm trying to accelerate that.
Calvin Lowe :I grew up in a. My mom has her own single-family portfolio, so to speak, and she's 91. She's still active in the space. I love it. In fact, she just completed a 1031 exchange on a house just a couple miles from my house here. But growing up I have three brothers, four boys. I was the only one that had to do like the cleanups when the tenants come out the painting, the tiles, the toilet, all that stuff. I didn't really appreciate it until like now. But you know, I just want to deal with that. So we decided to go into the multifamily apartment space, joined Academy and my wife and I have the ideal situation where she's a homemaker, so she's getting her a real estate professional status, so that'd be all the good tax benefits for us.
Heather Ewing, CCIM:Oh, that's perfect. And you know the neat thing about I have to ask so, were you the youngest brother that you guys stuck?
Calvin Lowe :with the cleaning. No middle child. You know the middle child syndrome number three or four. Oldest you know, does all. You know the middle child syndrome number three or four. Oldest you know, does all. You know all. The youngest was always the baby. So you know I look back and just build character.
Heather Ewing, CCIM:You know, I guess to go through all this exactly well, and if it makes you feel better, I am a middle child. It's funny, I'm one of four and so two older and then a younger brother, but two older sisters and you're number three as well. It is fun to see how things shift and shape us right.
Calvin Lowe :Right right, right right.
Heather Ewing, CCIM:So how did you? That's quite a jump right. How do you go from? Well, and you're still active in it. But how do you shift or add in, I should say, the investing syndication portion when you're, I'm sure, working a ton of hours at the hospital and you know where do you even start to peel that onion?
Calvin Lowe :Yeah, that's a great question because you know, I've worked many, many hours. I'm to the point where I don't have to work overnight shifts in the emergency department anymore, so it gives me some time. It's also shift work, so there are some days like I have this morning off to talk to you today, because usually I'm not your typical nine to five schedule. My schedule is irregular irregular, so to speak. So I do have time during the week. You know my wife also helps out as that as well. So it's difficult.
Calvin Lowe :But you know, when I work, I try to network with other my health care professionals too, that as well. So it's difficult. But you know, I, when I work, I try to network with other my healthcare professionals too as well. So I just, you know, parlay that into you know, education and all that so, and also just make taking calls and so forth. So I do have those. I have the advantage to have those hours during working business hours, which I technically do have off, but I can put that into my schedule. And it's difficult at times. It's like you know, right now I'm in the middle of a capital raise and you're just like talking to people, but you just have to make it work. You know if you believe in it, you just got to do it.
Heather Ewing, CCIM:Yeah, if there's a will, there's a way and if you think about it, it kind of is a really nice structure because you're time blocking. It's almost like the best time blocking because you've got this certain amount of time and you can get it all done in that and then really plan out the other days of the week, the month and beyond. So, all right, I have to bite. So tell me what you're raising money for. Maybe we'll have someone interested.
Calvin Lowe :Yeah, I have to be careful. It is a 506B offering, so they can always contact me so that I can talk about that.
Heather Ewing, CCIM:Yep. No, that's perfect, and we will include your contact information at the end. So what do you find most challenging as a syndicator? Right. You hear a lot of excitement about it online. Other places also can seem like it's easyator right, you hear a lot of excitement about it online. Other places also can seem like it's easy money right, you invest some money and you're rolling in it. You're able to retire or be financially free. What would you say are some of the challenges? With it.
Calvin Lowe :I think just at the very beginning. It's getting started, because for me, you know, being a medical professional, I have no background in either marketing or business or finance. So just learning the ropes. I did do a mass, I did a couple of masterminds now and the information is just like a fire hose. Yes, I'm more comfortable now as I educate myself. I feel that the learning curve for going into the multifamily space was much steeper than medicine, honestly, because you know cause I've been, you know working or studying science, you know math and all that stuff. So it came, I would say, naturally, became easier for me. But this is a whole different realm for me with this and it just saw the market of things, just talking to people. I do consider myself an extrovert, so I don't mind talking and so forth, but I have to be more comfortable to back up what I'm talking about. So I don't want to like say if I, it is easy for me to say if I don't know, I don't know, I'll find out for you.
Heather Ewing, CCIM:And it's the same thing in my practice too, Like I said, geez.
Calvin Lowe :I don't know what you have a disease I. That's why I admit you to the floor. They'll find.
Heather Ewing, CCIM:And that's a common trait of people that have been successful in any arena. You learn more and more about it, you gain the experience, and also it's that knowing that we're not omnipotent right, we don't know everything and it's creating the pivotal partners is what I like to say in the different arenas, so that you can put the deals together, so that you, you can execute, deliver and take advantage of those returns. So where do you think investing is going to go in the next couple of years? Any feelings or opinions on that?
Calvin Lowe :Yeah, you know, I've always looked at it because the market is kind of crazy right now, sort of a downturn and just learning about all the cycles. But I always have to look in the horizon. Things are going to get better. Right, because we're hoping the interest rates are going to come back. The market's going to improve. So what I tell people don't worry about today, just look on the horizon, because there's always history on our side. Right, because property values are going to go up. Things are going to get better.
Heather Ewing, CCIM:Of course, there's risk on anything that you invest in, but like you said, if you partner with great partners who have the integrity, the trust, then that will go far. Right, you know, and tying in with that, who would you say? Is there a person or a particular book or something else that really inspired you to make this shift and then also to stick with it?
Calvin Lowe :Yeah, you know everyone says rich dad, poor dad, right, but there's actually a sort of an offshoot of that. It's actually a book called why Doctors Don't Get Rich. It's actually a book written by Tom Burns that was advertised everywhere because he's a doctor and it's sort of the rich dad poor dad version from a doctor's point of view, where doctors are working really hard and not really happy with their jobs.
Calvin Lowe :Because early in my career I was sort of the yes man. I wasn't sorry, I was the yes man. I was taking on so many jobs, different things, different shows, just working, working, working. And my job became an idol. It affected family time and all that. So as I look back and say, man, I wish I could have that time that I missed out. You can't buy it back, but the book really is really such inspiration for me and what I do, I get these books and I hand out to my trainee physicians hey, I got a present for you, or when you graduate from your fellowship, this is what you need. So just plan, I love it and I got a present for you, or when you graduate from your fellowship.
Calvin Lowe :This is what you need. So just plan I love it and moving forward, right. So a wonderful book. Even my wife, right, and she says you know, I actually learn more about this than he was. I guess it's sort of certain terms that she's not in medicine but she is married to a physician, so she can relate to you. Know, we work really hard and just try to think we might know what we're doing. Just working, working, working. But again, that doesn't work out in terms of overall wellness in your life.
Heather Ewing, CCIM:Right and I think it's like any arena right the more time you spend in it, the more you realize how vast it is and that we can go our entire lifetimes and we'll continue learning and growing and expanding. And you know different deal experience and what worked on this one and what didn't on that and the due diligence. So it's if you enjoy having that growth mindset which I know you and I both do, it's it's really the ideal place that you want to be, so I could see you and your wife writing a book one of these days.
Heather Ewing, CCIM:No, that's what pops up. So I'm going to plant that seed for you Well, and I love too that you're paying it forward, because I think sometimes in life you'll see people that were able to bridge a gap right. And it's hard when you're working a ton of hours, have a lot of stress and you know different family things and trying to juggle it all. So I commend you for also taking the time aside to help others and to plant those seeds through books, through sharing what you're doing and opening the door. And, of course, you can only bring a horse to water you can't make a drink, right. But at the same time, I think that's something you can feel really good about each and every day.
Calvin Lowe :Yeah, you know one of my avatars I first started this and it was still is. Is the is the female attending physician or health care worker, because they have to balance a life as a wife, as a mother, as a physician or a nurse, and that takes a lot of, you know, balancing and talent. Actually, it's a gift that they can do that, and so I agree that's a whole new level.
Heather Ewing, CCIM:Right, that's a masterclass. So how would you say, mindset ties into this.
Calvin Lowe :Well, that's the thing, right? Because when I was growing up, you know, my mom said you have to save, save, save, right, Buy a house, pay it off and all this working and, you know, put your money into retirement funds. So I'm working, working. I said I can't even touch these things and it's a matter of making that change that, okay, I don't have to pay off my house, I can do other things. I don't have to work as hard. And's something that, uh, it's all about because we're always earning, we're always achieving. Now I said, well, that's fine, but it's all about wellness and yourself, right, um, because right now I've cut back in hours.
Calvin Lowe :We downsized our house. It was like the biggest thing for us because I had this large house. For the kids it was the hit house, basketball court, batting cage. I'm like okay. But then they went off to college and they, you know, my daughter just got married, my son's engaged, they're out of the house and congratulations, thank you. It's actually too big for the four of us. Now we're just two of us.
Calvin Lowe :We downsized and it's just like the world just came off my shoulder because I didn't have to work so hard, I didn't have to pay for this and just it's not so much. Yeah, you know money is an important part of our lives, but it's really the wealth, the quality time that you can spend with your family and friends and things that you want to do, instead of just like, ah, to go to work again and, you know, do all that. You know I love what I do as a physician, but it's just the grind of driving back and forth to work because I've never even been in Southern California. The traffic, you know. I've been here all my life. I've never gotten used to it.
Heather Ewing, CCIM:I don't know how you guys do it. I don't Like.
Heather Ewing, CCIM:I visited and that's where I say to you there's a lot of beautiful cities to visit, but I would probably pull my hair out. You know it's like, and I'm here in downtown Madison, so I walk so many places, People give me a hard time of Heather. Do you know how to get outside of the downtown?
Heather Ewing, CCIM:But I do to preface it but something that you're bringing up is so important, and I think that some more people are beginning to design their life and going inward and understanding what speaks to me, what is important to me. How do I want to live? Because we're all so different that one person's life they might just love it and the other that could be the worst thing that they'd want to do. So again, I commend you and your family for that, because otherwise you're not living. For that, because otherwise you're. You're not living your own life and you're living someone else's and it's tiring.
Calvin Lowe :It does. It does Because I've I've worked many, you know, long overrides I. There's a state where I was there for 72 hours at the hospital and after like the like, the 68, I said I have to go home. Just call me. I just have to go home because it's just like it just broke me, basically, and I thought, okay, there's something better than this.
Heather Ewing, CCIM:Definitely so for someone that's, let's say, back up several years of where you were at, of just feeling that burnout of you loved it, but you're just. You know what I mean. You're searching for something else. What are maybe the first couple of steps that they can take to start learning more about it and just kind of even opening that chapter of maybe there is something more, Maybe I can live a life that's more aligned for me?
Calvin Lowe :Yeah, it's pretty much networking. Go to different meetups. That's what I did first. Actually, I do host a meetup now just to open those doors for people who just want to think okay, is this something I can do? What is this? I've had a lot of people come up and say I always wanted to go into real estate, but I'm not sure and I'm glad that I found you. You're just building up those trust relationships because what I found out? If you're not the smartest person in the room, if you think you're the smartest person in the room, find another room.
Heather Ewing, CCIM:So I'm almost going to be in the same room.
Calvin Lowe :Right, Just continue to learn step by step and ask questions. Open up, Because I always tell my residents you don't ask questions. That's the stupidest thing you can do and asking for help is not a weakness. Just go out there and find out about what you think you want to know, Because unless you learn and all the nitty gritty you can do as a high level first. Then there's something that you like. Then you can delve into even more.
Calvin Lowe :But I would say, just go to some network, just get an interest and see if this is something that, uh, you can do or something that is of value for for you, and just talk to people and they can refer to others that, uh, that can be just like for me. Obviously I'm in the health care profession. I'm hoping others will come to me. I remember my first webinar I did for a property. I had former residents call me and they were saying hey, calvin, I trust you to train me as a physician. Now I'm trusting you to train me as an investor. So I was like, whoa, here we go right. So it doesn't matter where you are in life, you just think you're going to be close to retirement or just starting out. I know a lot of people who are, you know, a lot younger than I am. I said, wow, I wish I was you at your age to look into something, yes, to get it started, because it is a long-term deal. So just to learn all that.
Heather Ewing, CCIM:And I think that's also something you know. It's a great highlight because people think you come in, do a deal and make a lot of money, either as a broker or as an investor.
Heather Ewing, CCIM:You know you, you buy the one property and now you're you're kicking back forever in life and your feet are up and you're traveling on your yacht all over the world, so it's definitely a long term investment of time and energy, but also the returns. And that's where I say it's an endurance sport, and I understand that you, too, are an endurance athlete, so do tell me about that.
Calvin Lowe :Yeah, you know, the hospital has a charity event. It's called the. Well, it wasn't Malibu, it was the triathlon that's for raising funds for pediatric cancer research at Children's Hospital of Los Angeles. So a few years back I said hey.
Calvin Lowe :I'll give the challenge, you know. So I've done that twice as a solo. You know the full thing. And after a while a lot of my friends say, hey, you know, I want to do it, but I don't like swimming, I don't like riding, so I've done the team relay as a result of that. So I've done it twice by myself. I have nothing else to prove Right. I've done other triathlons, like the reverse triathlon, the Rose Bowl, a couple at Hormosa Beach. So it's a great experience. It's something you can do on yourself and just train yourself to do so.
Heather Ewing, CCIM:It's a lot of curiosity, so it's interesting, I have not been bit by that bug. Mine, mine is marathons. I give you complete credit. That just seems like a ton of training. What was your why, like? What was the impetus for it that got you going on that first one?
Calvin Lowe :It was just a challenge, I think, and just to to give myself a better shape, obviously, but I think it was just a drive and and it was for the kids too. So I did have a reason more for myself. But once I committed to it I said, okay, I have to do it for the kids, because I see a lot of these children with various different types of cancer that come to the emergency department in different situations and some life-threatening situations too. So by raising awareness and for the funds of that. But but more so it's just a chance.
Calvin Lowe :I wasn't. I'm not a great swimmer, let alone an ocean swimmer, and I just remember going out for the fish street ties and I you know panic is the worst thing and I panicked a couple of times. But then I had a, a swim mentor, one of my colleagues at the hospital, who's done the triathlon a few times. So she said I'm still afraid of swimming, let's learn together. So that's what got me through that and actually became a better swimmer than she did. And it's like now I love going out in the ocean and swim. It's actually my favorite part of the triathlon. Yeah.
Calvin Lowe :But my strongest is the cycling.
Heather Ewing, CCIM:But the swimming part, once you're out there, it's truly an amazing experience. Well, and it's one of those two, I always say from each endurance race that you do you become a different person, because I think there's different you know just mind, a different mindset that you evolve with, because you have to continue to up-level it and, like what you're doing for the kids and other things, the awareness, that's definitely something that you want to highlight and would give you that extra oomph towards the end. Definitely so. My last question for you, kelvin and this is always the big one is what does living fully mean to you?
Calvin Lowe :That's a great question, it's just really. It's just spending time doing things that you want to do. You know, one of it is I'm going to the point where I want to work when I want to, not when I have to. So all the time afterwards I could spend time with my wife, my family, do the things I want to do travel, you know, the usual stuff but right now I just didn't thoroughly enjoy the quality time that you have with your loved ones. My kids are getting married, so I want to be healthy enough so that the grandkids hopefully down the road you know spend those special times. Because I remember back, way back when I was just working so much and missed a lot of Little League games, you know, family events, piano recitals, things like that. So now I'm like, okay, I want to stay healthy as long as I can breathe, walk and talk, enjoy those times and just create those memories that you know, I wish I had more of. But there's always hope, right. So I think that's what's there.
Heather Ewing, CCIM:Yeah Well that's terrific Well, kelvin, thank you so much for joining us today. I really appreciated your time and please share with our guests how they can best reach you, and learn more about you bit different.
Calvin Lowe :It's p-e-a-c-e-q-u-i-t-y. Um. You can reach me at cal at peace equity dot com. My contact information is right behind me there, and we also have a website as well perfect well, thank you again calvin, thank you, you bet bye.