Building equity through owning practice real estate offers long-term financial benefits.
 
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Summary
 
In this conversation, Andrew and Reed discuss the benefits of owning dental practice real estate versus leasing. They highlight the importance of considering long-term needs and the flexibility that ownership provides. They emphasize that owning real estate allows for building equity and creating additional financial opportunities at the end of a dental career. They also mention the tax benefits and the ability to control the atmosphere and neighboring tenants when owning a building. The barriers to ownership, such as availability and cost, are also addressed. Dental Real Estate Partners offers a unique approach to dental real estate ownership through partnerships. They help dentists navigate the process of owning their own practice space, even if they don't have the upfront capital. They work with dentists to find the right property, structure partnerships, and secure financing. The availability of commercial real estate and capital restraints are the main barriers to ownership. However, there are opportunities to negotiate prices and find creative financing options. Dental Real Estate Partners can assist dentists at any stage of the process and provide guidance and advice.

Takeaways

• Owning dental practice real estate allows for building equity and creating additional financial opportunities at the end of a dental career.
• Ownership provides flexibility and control over the atmosphere and neighboring tenants.
• Leasing may seem less risky, but it can limit growth and financial control in the long run.
• Availability and cost are common barriers to ownership, but exploring partnerships and considering multi-tenant locations can provide more options.
• Understanding the tax benefits and financial strategies associated with owning real estate is crucial. Dental Real Estate Partners offers a unique approach to dental real estate ownership through partnerships.
• Availability of commercial real estate and capital restraints are the main barriers to ownership.
• Negotiating prices and finding creative financing options can help overcome these barriers.
• Dental Real Estate Partners can assist dentists at any stage of the process and provide guidance and advice.

Chapters
 
00:00 Introduction and Background
03:05 The Benefits of Owning Dental Practice Real Estate
07:56 Flexibility and Control: The Advantages of Ownership
12:28 Leasing vs. Ownership: Long-Term Considerations
21:36 Overcoming Barriers to Ownership
24:28 Tax Benefits and Financial Strategies for Real Estate Ownership
28:44 Exploring Opportunities in Commercial Real Estate
30:29 Overcoming Capital Restraints 31:27 Barriers to Dental Real Estate Ownership
32:55 Advantages of Being an Owner-Occupied Tenant
33:29 Working with Dental Real Estate Partners 

Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- www.practiceresults.com.    
 
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Episode Credits:
 
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero