Dear Dentist, Are You Contemplating Building

An Office Building?

Don’t feel bad. Most dentists do not have a clue how to finance a practice expansion to maximize their wealth. You should only feel bad if you don’t fix the problem.

In my 59 minute tele-seminar I will provide you with specific information on how to properly structure your debt to create the maximum amount of return for your personal situation.

Click here to sign up now.

Failure to craft a financial plan before you start can kill your wealth. Look at what this dentist did, let’s call him Dr. Smith to protect his identity. He came to me after he signed a new office lease (never sign a lease without a plan). His office lease expense went from $3,200 per month to $9,600 per month. That’s a 150% increase. He needs to produce $1.9 million annually to justify that lease payment.

Dr. Smith did this without having financing in place to complete the improvements and buy the equipment needed to complete the project. No problem. He can get plenty of money. He had a local broker bring him to a bank that offered $500,000. Not bad. Except the $500,000 was for equipment only. He is not buying that much equipment. Now he has a 10 year lease and no bank loan.

Have You Ever Asked Your Banker How Much You Can Borrow?  If You Answered YES, You Need To Attend My FREE Tele-Seminar.

Banks don't create financial plans, they sell tools!  In fact that's how loan officers make their money, selling you their tools (loans).

When you go to them, they don't try to find the right tool to fit your financial situation.  They try and sell you on the premise their tool fits your situation (and the next guys situation and the next guys and so on).

Without developing a financial plan beforehand to know what the right tool (loan) is for you you end up paying for the wrong tool.  Just like this dentist.  He needed $600,000 for a project, went to bank, got a loan.

As he started paying on the loan he found the payment was MORE than he could handle and in order to not default on the loan he had to reduce his lifestyle expenses.

The spring break vacation with the kids was cancelled.  The 2 trips per year to Florida had to be cut.  Can you imagine the conversation he had with his spouse?  All because he didn't plan for the loan payment up front with a financial plan.

At the FREE Tele-Seminar I'll explain the "Just because they will lend you" rule of finance, one of my several Rules Of Finance, designed to prepare and protect you from making this financial mistake and negatively affecting your lifestyle.

Click here to sign up now.

Are You Thinking About Or Ever Bought Land Or A Shell Condo?  If You Answered YES, You Need To Attend My FREE Tele-Seminar.

Most dentists who buy bare land or a shell condo without any clue as to how much it will cost to improve it.

Then they are financially committed to what they thought was an asset that doesn't generate cash flow, while spending money on taxes, architecture fees, financing charges and so on.

At my FREE Tele-Seminar I'll explain to you the how developing a financial plan before buying land or a shell condo will give the knowledge to estimate your true holding and improvement costs.  This allows you to either plan for the costs or in possibly not go through with the deal if it hurt your financial situation.

Click here to sign up now.

Have You Made A Large Purchase Prior To Starting A Project?  If You Answered YES, You Need To Attend My FREE Tele-Seminar.

Here's another example of failing to craft a financial plan can kill your wealth.  This particular dentist violated the "never fight a 2-front war" rule.

His goal was to build a $1.2 million office project.  This takes considerable time and effort, even with a team helping you.  At the same time this dentist bought an $800,000 piece of land.

His thinking was he can just sit on the land while building his office.  Then once the office was completed, build his dream home.  What he found out was the land had covenants that required he build and complete a home within 24 months of the purchase.

Now he has 2 significant financial commitments that will require time spent away from his practice where he generates $4,000 per day when he's there.  And he doesn't know what the cost of the dream home he will be forced to build in 24 months will cost him.  What would you think the cost of home might be that will sit on property that cost $800,000?

The reality is the unknown cost of the dream home, the cost of the $1,200,000 office project or the cost of the $800,000 land - any one of these might negatively affect the ability to find financing for one or more of the others.

At my FREE Tele-Seminar I'll explain to you the how developing a financial plan helps you determine your ideal capital structure.  I'll explain why that capital structure helps you to collect loan commitments and model them so you can see into your financial future and make decisions on whether you can afford multiple projects concurrently.

Click here to sign up now.

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 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.