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So far Live Oak Bank has created 175 entries.

Tax advantages of ownership

By |May 28th, 2014|

Real estate property owners enjoy tax advantages unique to ownership, including the ability to write off mortgage interest as well as depreciate the value of any owned buildings over a 39-year period on a straight-line basis.  Both of these types of deductions reduce overall taxable income, saving cash flow that can be reinvested in the business. When these tax write-offs are combined with Section 179 deductions for purchasing equipment, the small business owner has a meaningful toolbox sponsored by the IRS for decreasing their tax burden and offsetting the inherent costs of property and business ownership.

Solve Problems For Clients

By |May 27th, 2014|

Despite your team’s best efforts, there will be times when service errors occur or clients become disgruntled about something.  Empower your staff to address and handle problems for clients when they occur.  Clients will be happier and impressed if your employees can quickly take action to resolve lapses in service or help them with their problems.  For example, if a client needs to pick up or drop off their pet outside the regularly scheduled time period, they will be thrilled when a team members works to accommodate their schedule.  Likewise, when breakdowns in communication occur, clients appreciate an apology and actions to improve communication.

Efforts to create an exceptional client service experience and promote a service-oriented culture are on-going.  Assess your service on a regular basis and formulate action plans to improve service when needed.

Aqueous Art by Sean Ruttkay

By |May 5th, 2014|

Recently, Live Oak Bank partnered with local Wilmington artist and photographer, Sean Ruttkay to outfit the Live Oak Bank headquarters with his Aqueous Art line as well as provide local photography solutions for Live Oak Bank marketing efforts. Through running his small business and his visual aesthetic, Sean captures our community of Wilmington, NC beautifully. Understanding the importance of local small businesses, Live Oak Bank supports Sean’s vision of Aqueous Art.

Influenced by the guiding principles of Evidence-Based Design (EBD), Aqueous Art captures the soft fascination found in water and when installed transforms physical environments into restorative spaces. Numerous studies have shown that occupants of these spaces gain substantial physiological benefits as well as tangible positive outcomes. Ruttkay says, “The infinite colors, forms, textures and sounds of water have the power to stimulate minds, change moods, and even heal the sick. Reproducing the powerful optic beauty of water is the mission of my work.”

Aqueous Art is found in various mediums [...]

Why Now is the Right Time to Buy

By |April 29th, 2014|

There are several key reasons why now is an excellent time to invest in commercial real estate.

Property prices have bottomed.  As with the residential market, commercial property values seem to have bottomed out.  In most markets today, a typical mortgage payment is equal to or less than a rent or lease payment.  At today’s CRE prices, you can retain more of your cash flow or acquire much more real estate for your investment than you might have just five years ago – all while investing in your future growth.

Abundant inventory.  In addition, commercial properties are currently available in abundance in most markets, providing an excellent opportunity to secure a prime location at a very reasonable price.

Rates at historic lows.  While business property rates will never be quite as low as those for residential properties, they are nevertheless mimicking the housing market with rates that are now at historic lows for commercial real estate. Your CRE loan today will cost [...]

Building a Foundation for Growth

By |April 23rd, 2014|

Owning your dental business property, along with your practice, has the unique advantage of laying a broader foundation for future growth. The three most significant advantages to owning your business real estate are:

Control.  When you own the business property as well as the practice, you have complete control to develop, operate and modify the building to your needs as the practice evolves, and as zoning regulations allow.  You are no longer at the mercy of your landlord’s guidelines for space modifications, and can adapt your building infrastructure to accommodate future developments in dental technology.  This gives you maximum flexibility to build the practice you want with the building and equipment enhancements you need.

Stability.  When you own your own property, whether a home or a business, you enjoy greater long-term stability in the costs associated with the property. You can more easily project the annual costs for your practice investment according to your mortgage contract, insurance and estimated property tax, [...]

Dental Customer Construction Spotlight: Dr. Allison

By |April 18th, 2014|

Dental Customer Spotlight

Dr. Allison shares her experience with Live Oak Bank and how she prepared for building and marketing her dream pediatric dental practice.

When To Choose a Lease

By |April 15th, 2014|

For new dental practitioners who are uncertain of future space needs and want to ensure maximum cash flow as they grow their business, leasing may be a wise option.  In general, it’s far less costly up front to lease commercial space compared to a real estate investment, making leasing a better choice for those who lack equity as only one to two months lease value is typically required as a security deposit on a leased space.   A lease arrangement can also free up cash that can help fund the growth of your practice through equipment purchases or marketing.  In addition, practitioners with lease arrangements will not be tied to the responsibilities of property ownership, such as onsite maintenance and tenant rentals, and can focus more fully on their practice and patients.

However, there are also significant disadvantages to leasing that need to be carefully considered. Most importantly, with a lease arrangement you are not investing in your own future.  You [...]

Commercial Real Estate: Overcoming Your Fear of Ownership

By |April 8th, 2014|

The severe drop in property values that accompanied the Great Recession has caused many small business owners to be skeptical of commercial real estate investment. They have lost faith in the adage that property values tend to increase over the long haul, shying away from real estate purchases in favor of lease arrangements that insulate them from the unpredictability of the market.  Yet there has never been a better time to purchase the business property on which your dental practice resides.  The significant opportunities available to small business owners through investment in commercial real estate warrants a second look at the pros and cons of leasing versus purchasing your office space.

Dental Customer Spotlight: Sultan & Dr. Mehjabeen

By |March 25th, 2014|

Dental Customer Spotlight

Sultan and Dr. Mehjabeen share their experience about working with Live Oak Bank.

Dental Customer Spotlight: Dr. Shawn – California

By |March 21st, 2014|

Dental Customer Spotlight

Dr. Shawn shares his experience about working with Live Oak Bank.