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Having False Confidence in Your Local Bank
Don't make this mistake on your project.
The appraised value of a dental building is usually less than the cost of constructing the building.
Most local or community banks lend the lower of the appraised value or cost of the project.
Add in the cost of technology, equipment, furnishings and you have a large amount of money to borrow over a short period. It is common for a dentist to know a local banker that promises him "all of the money he needs for his project".
With that statement, they are full of confidence and begin the process of building the Taj Mahal.
Banks are highly regulated and have strict lending policies. The days of character based lending are over.
If your banker has not issued a commitment letter that you understand, then you should assume that you do not have any money.
The bank must understand the project completely. How will you cover the Gap and the additional costs of the project?
If you rely on your bank to construct your plan, you have a high probability of having problems. You need The Financial Leadership Solution.
TO PREVENT ALL THIS YOU NEED The Financial Leadership Solution
You can save money and time by investing a little of both with AN EXPERT who can analyze your financial situation BEFORE you construct a building, sign a lease, talk to a bank, buy equipment, buy a condo or a piece of land.
The analysis will result in a clear picture of your financial situation and a realistic FINANCIAL PLAN. The Financial Leadership Solution uncovers your financial constraints, the financial tools and the correct timing you need to achieve your financial goals while eliminating $100,000 mistakes.
You need The Financial Leadership Solution, here's 2 ways to get started:
This is ideal for the person who likes to delegate. Click here or send a blank email to hireageek@getresponse.com
(the December 9, 2005 class is FULL, next class starts January 20, 2006) This is perfect for the do-it yourself type person. Click here or send a blank email to getacoach@getresponse.com
We understand that you are a do-it-yourself type of person but you do not want to make a $100,000 mistake. We help by providing you with the confidence, capabilities and creativity through our Peer Conference Coaching.
The complete Financial Leadership Solution delivered in a Peer Conference Coaching format includes:
· All forms, templates and calculations with easy to follow examples · Four, two hour, facilitated Conference calls, held on Friday mornings · Facilitated by a Finance Geek expert · Maximum of 10 dentists per Conference · All Conferences are interactive so you will learn from each other · Unlimited email support for nine months · All Conferences are recorded and are free for your unlimited use · The process will make you a better business person · Develop a much higher level of financial sophistication · Understand at a much deeper level how finance can help or hurt you · Develop confidence, capabilities and financial creativity
You complete the forms prior to the scheduled conference call. You email your questions prior to the call and we will organize the call based on them and the specific agenda topic.
The materials for your first conference will arrive by January 13, 2006, giving you 1 week to review and get prepared for the first call.
What will you receive when you are part of the Peer Conference Call
To hire us for your project or if you have questions call 317-581-5664.
Finance Geeks www.FinanceGeeks.com
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$100,000 Horror
Story #3
PRIVATE ONE-ON-ONE CONSULTING
PEER CONFERENCE COACHING
David Catalano