Did You Structure Your Current Debt To Withstand A Financial HURRICANE Or Will It Implode At The First Strong Gust Of Wind

(Like A Few Months Of Poor Cash Flow) ??

You remember the 2 destructive hurricanes from last month that swept through Louisiana, Mississippi and Texas.

Everyone's attention focused on New Orleans where what the hurricane didn't flatten, the floods ruined, probably beyond repair.

What you heard very little about on the news were the stories in other states and cities of homes and buildings that WITHSTOOD the tremendous force of 140+ MPH winds.

What's the difference between these buildings that are STILL STANDING and the ones that were reduced to scattered piles of kindling and debris?

The Difference Is Planning & Engineering,

NOT HUGE ADDITIONAL COSTS!

Unless you're a engineer or builder in hurricane country (the southeastern US) you probably don't know for only a couple thousand dollars more, a typical home can be structured to withstand hurricane force winds and water.

The difference is in the details of PLANNING the home construction, using engineering TOOLS to make the home hurricane proof.  Tools like:

• Cast In Place concrete walls (instead of concrete masonry unit block walls)

• Direct Load Path construction that aligns the roof trusses with interior load-bearing wall framing to improve up-lift resistance (prevents the roof from raising up).

• Additional Tie-Downs (called Hurricane Straps) to prevent the roof from blowing off.

• Steel Reinforcing around patio doors and windows to keep them in place against high winds.

• Window Shutters to keep window units intact.

• Peel-and-Stick Roof Underlayment (a secondary roof covering) to lessen water intrusion if shingles are blown off.

Here's the interesting thing.  Of these measures, only the self-adhering roof membrane and the window shutters add substantially to the cost. (The roof underlayment adds roughly $700, while shutters add about $500.) The other steps do not add significantly to the cost, but do require additional planning and engineering.

The Same Is True For Dentists Who Build Great Wealth.  It's The Difference Between Them And Dentists Who Retire Poor

It's true.  With only a few additional steps of developing a FINANCIAL PLAN (not an investment plan you might see from a stock broker) before making any financial related decision, you can avoid making poor financial mistakes.

Like the building example, it doesn't cost a lot and can save you tens if not hundreds of thousands of dollars.  By following your "plan" of which DEBT STRUCTURING is a keystone, you can determine what to do when you walk into the following situations:

1. You want to buy a new piece of equipment for your practice.  Do you take the financing from your equipment rep, call your banker for a loan or put it on your credit card?
2. Your lease is up and you want to build a new dental office.  Do you buy the land first, hire your local architect to develop blueprints or go to your local bank to get a loan?
3. You and your partner want to expand your office, add 3 more operatories.  Do you pay cash for the expansion, take out a second mortgage or refinance the 1st mortgage along with a construction loan?

Do you know what the right answers to each question are?  Even if you think you know, would you be willing to bet your financial future on any one of these decisions?

(click here to register for the FREE tele-seminar)

The Problem With Each Question Is If You Don't Have A Financial Plan In Place BEFOREHAND, Depending Upon Your Situation, Any Answer Could Be The Wrong Answer.

Let's say you're building a new home.  Before the builder starts he develops a set of builders blueprints that a home builder uses to build a house for you.  The blueprints are based on your "constraints" of building.

Your constraints are based on how much land you're building your home on.  How many bedrooms, bathrooms and other living areas you want your home to have.  How many cars and boats you want in the garage.  How much money you have to spend, etc..

Why have these blueprints?  Well lets say you have just bought a new Hummer as a new car.  You know they are wider than standard vehicles and your 3rd garage door will need a 12 foot opening instead of a 10 foot opening.

If your builder has some left over 10 foot openings from his last job, just because he has them (and they might be cheaper than the 12 foot opening) doesn't mean you want them in your new garage.  Your Hummer won't fit and its possible you'd only find that out the first time you try to pull it into the garage.

The builders blueprints (The PLAN) are there to keep your builder on track so he doesn't add rooms to your new home you don't want or can't afford.  It prevents him from building it small or leaving things out that may come back to haunt you later.

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Local Bankers, Equipment Reps, Real Estate Agents, Commercial Engineers Are Just Some Of The Titles Of People Who Have HELPED Dentists Make Poor Financial Decisions (Because They Don't Know Or Care About Your Constraints)

As a dentist, any time you incur debt it must fit into your pre-designed "financial plan" that is the financial blueprint that drives your actions and helps you achieve your financial goals.  It also helps you avoid the financial landmines the people, and in some cases the friends, who wear the above titles, may inadvertently steer you towards.

Let's take your local banker for example.  Although most dentists don't think this way, bankers SELL LOANS.  And a loan is a TOOL you use to accomplish an objective.  When you go to the bank, how do you know the TOOL you're being sold (the LOAN you're being offered) is the right one for you and your situation?

A new digital x-ray machine might cost $70,000.  Your banker might offer you a low interest 5-year loan you could use to buy that machine.  So the question is, is that the right loan for you?  Would you be better off getting a 10-year loan at a higher interest rate to finance that piece of equipment?

The answer depends upon what your financial goals are?  If one of your goals is to limit the amount of money you have to fund your retirement plan (minimizing the eventual nestegg it will generate for you to live on later in your career) then one of those 2 loans is the right one for you.

On the other hand, if one of your goals is to increase the amount of money you have to fund your retirement plan (maximizing your retirement nestegg for you to live on later in your career) then again, the other one of those 2 loans is the right one for you.

(click here to register for the FREE tele-seminar)

The Deciding Factor Between Being A Wealthy Dentist Is Having A Plan In Place And Knowing The Right Tools You Need To Use (And The Wrong Tools To Avoid) To Achieve Your Goals

There's an old saying that "when the only tool you have is a hammer, all your problems look like nails".

What this means is your banker, your equipment rep, any real estate agent you meet, a commercial property owner with office space to lease, they all have TOOLs they will try to sell you.  As you go through your career, to be successful you need to know what your goals are and which TOOLS will help you accomplish them.

Buy the WRONG FINANCIAL TOOL and the results can be costly.  It's not like buying a Phillips screwdriver at Home Depot, finding you need a slot-head screwdriver and taking the Phillips one back.

I've worked with dentists who have bought the wrong financial tools, have poorly structured their debt with these tools and as a result have paid 5 and 6 figures in additional fees, prepayment penalties and unneeded interest payments.  All because they didn't go through the process of having a "financial plan" in place to avoid getting SOLD the wrong financial tool (LOAN).

As a result the DEBT they incurred or STRUCTURED, drained their cash flow, limited their retirement funding potential and in some cases, painted them into a financial corner where their only escape was to sell or shut down the practice in order to liquidate assets to make debt payments that were driving them towards bankruptcy.

(click here to register for the FREE tele-seminar)

At The Tele-Seminar I'll Show You How Lenders Think And How To Prepare Yourself Before Going To Any Meeting Where Money Is Discussed

During the 59 minute tele-seminar I'll share with you BOTH SIDES of the lending equation so you are knowledgeable about your financial situations and can intelligently decide what TOOL you need when incurring DEBT in one of several situations.  You'll get a solid overview of:

• The 3 Types of Borrowers, which one are your?
• The Assets, Tools and Constraints in a debt situation
• The GAP in Your Project if you're building an office
• How Much You Can Afford to Borrow
• How Much You Can Borrow
• The Rules of Borrowing You Don't Want To Violate
• How to Know if You Need Help
• Questions You Should Ask Your Bank

CLICK HERE to register for this FREE TELE-SEMINAR.  All you need is your telephone to dial into the call.  When you register you'll be emailed instructions on how to dial in to the call.

Don't let your debt slow down your practice or hinder your ability to generate wealth and retire when and where you want.  Register today!

How To Properly Structure Your Debt

presented by David Catalano of Finance Geeks

Who Is David Catalano?

Since graduating from the Rochester Institute of Technology with a finance degree, David has spent the last 19 years working with hundreds of dentists across the country.  He started his career as a dental equipment manufacturers representative for Pelton & Crane. In 1998 became President and CEO of Midwest Bankers Group, Inc. in Indianapolis, IN.  Through it’s affiliate company Finance Geeks, David and his team of other finance geeks work with dentists who take the plunge to finance and build their own state-of-the-art dental office buildings.  David is a member of Young Entrepreneurs Organization and is a Strategic Coach client.