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

💡 What if you could transform senior care, build a community-impacting legacy, and create financial freedom—all through purpose-built residential assisted living?

In today’s episode, Alex is joined by Dr. Chloe Kilman, a geriatric physician, and her husband Nicholas Blanchard, co-founders of Bloom Homes Assisted Living in Mississippi. Chloe and Nick are developing a 16-bed luxury memory care mansion—a model that blends exceptional dementia care with the warmth and dignity of a true home.

They share their journey from discovering the RAL model in 2022 to purchasing land, assembling their team, navigating city approvals, securing SBA financing, and preparing to break ground. Along the way, they open up about the challenges, the learning curve, the wins, and the deep motivation behind their mission: raising the standard of memory care in their community.

Through this inspiring conversation, Chloe and Nick show what’s possible when clinicians and families come together to create innovative, patient-centered solutions for an aging population.

🔥 What you’ll learn:

• From Idea to Development: How Chloe & Nick went from discovering residential assisted living to designing a 10,000 sq ft, 16-bed memory care mansion on land large enough for three homes.
• Why Ground-Up Beats Conversion: The zoning, layout, and cost considerations that led them to pursue new construction instead of retrofitting an existing home.
• The Memory Care Mansion Model: What makes this 1:5–1:8 caregiver ratio so powerful—and why smaller, home-style environments outperform many large facilities.
• Behind the Scenes of New Development: A breakdown of land acquisition, architecture, engineering, contractor selection, Department of Health approvals, and the emotional rollercoaster of SBA lending and appraisals.
• Funding the Project: How they’re structuring a joint-venture model, working with lenders, and using an SBA 7(a) loan to finance construction, FF&E, working capital, and lease-up reserves.
• Community Impact: Why Bloom Homes will not only improve dignity and care for seniors—but also create high-quality jobs, support families, and eventually help train dementia caregivers through nonprofit initiatives.

🔥 Key Takeaways:

• Small homes mean better care. A 16-bed memory care home can offer better monitoring, stronger relationships, and deeper dignity than many 100+ resident facilities.
• You don’t need to quit your job to build an assisted living business. Systems, mentorship, and accountability make development possible—even while working full-time.
• Success is built on relationships. Banks, architects, appraisers, zoning boards, caregivers, and mastermind groups all play a crucial role.
• The SBA 7(a) is a powerful tool. Few industries allow you to build a multimillion-dollar business with as little as 10% down while financing construction and working capital.
• RAL is both im

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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