Waloschek completed his masonry apprenticeship in 1916. After this time he attended the Construction School of the Vienna I State Trade School (Baufachschule der Staatsgewerbeschule Wien I), from which he graduated in 1919. From 1918 to 1925 he worked for the architects of the Vienna Settlement Movement (Wiener Siedlungsbewegung). This probably marked the beginning of his interest to construct small housings and settlements.
From 1927 he worked in Berlin of the DEWOG (Deutsche Wohnungsfürsorge-Aktiengesellschaft für Beamte, Angestellte und Arbeiter), which had been founded by Martin Wagner in 1924. In 1928 Waloschek founded the GEWOG (Gemeinnützige Wohnungs- und Heimstättengesellschaft für Arbeiter, Angestellte und Beamte) in Dresden, a subsidiary of DEWOG. He became the technical director and architect of the GEWOG, with Richard Rösch as its managing director. The aim of this housing company was to build housing estates in Dresden, including the large housing estate Trachau. Within this project he worked with Hans Richter, one of the most prominent architects of the Dresden region. Waloschek lived with his family in the Trachau housing estate, Kirchhoffstraße 2 (now Richard-Rösch-Straße 2) from May 1930. He had been a member of the Deutscher Werkbund since 1933.
Most of his building of the interwar period still exist in Dresden and the Dresden region.
As an Austrian citizen, he and his family were refused German citizenship, so he returned to Vienna in 1933. In 1936 he fled to Buenos Aires, Argentina. So far we do not know whether he designed houses in Argentina. In 1959 he came to Hamburg, Germany and worked for the successor of the GEWOG, the union-owned housing company Neue Heimat. He died in Vienna in 1985 and was buried at the Vienna Central Cemetery.