Dental News

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, without […]

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 do […]

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.

The Hinman Dental Meeting 2014

By |March 28th, 2014|

Thanks to everyone who stopped by our booth during the Hinman show! We had a great couple of days spending time with customers and business partners. Since we have an office in Buckhead, Hinman always proves to be a busy conference. Next stop – AAO in April. Hope to see you there.

– J.P. Blevins

Document Preparation to Begin the Loan Process

By |March 25th, 2014|

Buying, building or expanding your dental practice is a significant project that requires a good deal of planning. Part of the initial planning process includes getting pre-qualified for a loan amount that will cover both your project development and working capital costs. Pre-qualification can typically take from three to five business days, provided you have adequate documentation prepared for your lender prior to your meeting.

Before approving a loan for your practice project or purchase, your lender wants to know that you have adequate experience to manage your business, sufficient collateral to cover the lender’s risk, and enough cash flow to repay your debt. Following is a list of the documentation typically required when applying for a commercial loan for a dental practice purchase, expansion, remodel or refinance, or a new construction project.

Personal Financial Statement. Your lender will ask you to complete a personal financial statement showing your income, the value of your assets (such as your home, vehicles and savings […]

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.

Abundant Opportunities To Own Business Property

By |March 18th, 2014|

Should You Jump In?

If you’ve ever thought of owning the property underlying your dental practice, now is the time.  The commercial real estate market has stabilized over the past few years and there is an abundance of exceptional properties available for purchase.  With relatively stagnant sales during the Great Recession, it is now truly a buyer’s market with commercial real estate prices lower than they have been in decades – down 30% from the national peak* before the crash in 2008.  In addition, properties are available in prime locations.  Small business owners are starting to invest in premium retail properties for their private enterprises.

Many commercial real estate owners are also realizing a cost savings in building out their properties.  The competition among builders for CRE construction jobs has driven costs down, with some builders significantly cutting their margins in order to maintain payrolls.  Dental office designers and architects are also trimming costs as they compete for fewer projects. As a […]

It Takes a Dream Team To Construct a Dream Practice

By |March 12th, 2014|

When it comes to building your dream practice, the single most important step is an experienced dream team to help you develop and manage your project. A dream team helps you create a sound plan for your practice development, ensuring you get the outcome you want while keeping your objectives and project on track. Who makes up the dental practice dream team? Depending on your specialty, it should include your lender, architect, general contractor, equipment supplier, and a real estate agent if you’re purchasing property. The best teams communicate with one another during the development process. Most importantly, team members should be experienced in dental office development and construction because this will save time and money in the long run.

Click here for the full article: Dream Dental Practice Article

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