• Molly Ramsay

Should We Buy a Building? with Jesse and Jay


Episode Summary


If you’re an independent practitioner and you’re wondering if buying or not your own real estate, this episode is perfect for you!

Jay and Jesse discuss this issue from different perspectives. They also ponder the pros and cons list of owning real estate for your practice. While you can have the autonomy to do things you like on the property, there are added tasks like fixing the building on your own. Also, having multiple owners may increase the complexity of procedures. These topics regarding real estate are way off of -what medical practitioners do-, but they affect the business.

Jesse and Jay dive deep into the considerations you might want to have before making a decision.


Key Take-Aways

  • Pros and Cons list will sometimes be very unbalanced.

  • Buying real estate is a way to build wealth.

  • When you buy a property and use it for your practice, there’s a double-side benefit relationship in terms of payments.

  • Independent practices get the autonomy to manage their property however they like.

  • Adding an owner to the property is like adding a spouse to your life.

  • The more you have, generally, the more risk-averse you are.

  • Machines are not an appreciable asset, while buildings are.


Resources

  • Know more about MedMan here


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