Allen Schubert graduated from the University of Kentucky in 1978 with a Bachelor's degree in Business Management. After graduation, he moved to Houston, Texas, where he worked in the real estate business for over 25 years. His real estate experience included residential, retail, and apartment development. In all, he developed several planned communities, 200,000 square feet of retail space, and 1,000 apartments. He later relocated to Louisville, Kentucky in 2006, continuing his real estate development efforts. In 2012, he successfully converted an old middle school in Bowling Green, Kentucky into a 300-bed student housing complex for Western Kentucky University, achieving a 99% occupancy rate in its first rental year.

He has also served as the Chairman of the Boys and Girls Club of Houston for many years, as well as being a board member of the Kentucky Derby Museum and Louisville Collegiate School.