FAQ for Commercial Real Estate
|If you have any questions not addressed here, please feel free to contact Reasor Professional Dental Services at any time.
What's the most important thing to consider when I think about leasing?
"Location, location, location!" This expression applies to dentistry even more than to the residential market. The importance of your dental practice's location cannot be overstated. If properly researched and planned out, a great location will add more revenue sooner to a start-up dental practice and can make a huge difference to an existing one that is struggling in a poor location.
How do I get started?
You need to make an informed decision as to the place with the most need for a dental office. Reasor Professional Dental Services provides exhaustive general population demographics in many different areas. This enables you to study locations you might be interested in setting up your practice and to compare the results. We also provide dentist population demographics so you know where your competition is. By combining the two demographic studies, we can make an intelligent decision as to your best choice.
How important is visibility?
Visibility and proper signage are key when seeking a place to lease. If people know you are there, then the next time they are looking for a dentist, your name will come up. Another factor in visibility is to select an office next to a Starbuck's, a bank, or any well-known, busy business. Also helpful: we can provide traffic counts on any street in Oregon or Washington. Knowing how many cars drive by your office is vital in selecting a location and goes hand in hand with visibility and signage.
Why choose Reasor Professional Dental Services?
Reasor Professional Dental Services is a licensed commercial real estate broker with many years of experience in site location. Our specific area of expertise is in Oregon and Washington.
In the lease selection process we represent your interests. We not only help you select the ideal location but we negotiate the lease terms and conditions with the landlord or owner.
Last, Buck Reasor was a practicing general dentist in the Portland area for 28 years. He understands the wants and needs of dentists in general; combining this experience with his extensive knowledge of commercial real estate, he can offer advice addressing both dentistry and real estate.
Who pays for your services?
This is one of the most frequently asked questions and probably the most misunderstood by young dentists looking to lease. The landlord pays both brokers' commissions in a lease transaction. As a result, you pay nothing in fees to either parties representing the transaction.
FAQ About Purchasing Land or an Existing Building to Build your Dream Dental Office
Does it make sense to own my own dental building?
If done with proper planning and guidance, owning your own building is a "no-brainer." Why make someone else's mortgage payment by leasing? While many dentists must start that way, it makes no sense in the long run: the lease payment goes up every year at least 3% and you have no control over how the building is maintained or who will move next door to you.
Also, by owning your own building, you control your own destiny. When you retire, you not only have the sale of your dental practice but also the huge asset of the building itself. You now have the choice of selling your building at the time of the sale of your practice or leasing it to the purchasing dentist and collecting the monthly rent checks. You now are the landlord and have a built-in buyer some time down the road for your building. It is the best of both worlds.
I am tired of leasing and paying the landlord's mortgage payment. How do I find my own dental office to own?
At Reasor Professional Dental Services, we hear this question all the time. Nobody in dental school teaches a class on how to find the perfect office to own and how to "put the deal together." All of this requires a lot of time and effort, which for a dentist is better spent in the office producing dentistry and with family. We have the time and, more important, the expertise to locate land and/or an existing office building that can be converted to a dental office.
I have three years left on my lease. When should I start looking for land or an office?
If you want to find land and build your dream office on that land as a free-standing office building, you should start looking with at least two years left on your lease and no later. It takes time to locate the right piece of land and takes a lot of time to go through the permit process with the municipalities before you even begin construction.
If you are converting an existing building into a dental office, you should allow at least 18 months to go through the whole process.
Who else should I contact to help me with this process?
This is another area where Reasor Professional Dental Services can help you. We know and have extensive experience working hand in hand with the key people who make this all happen. We have at our disposal lenders who specialize in loans for dental offices, attorneys who can draft purchase and sale contracts, and general contractors who specialize in constructing dental offices. We can share these contacts with you and make the process easier and quicker.
How do I know when I am ready to start looking for my own office?
A major decision such as this will be one of the most expensive and important you will make in your dental career. You need to consult your accountant, financial advisor, and a experienced and qualified commercial real estate broker who has your best interests in mind to see if the time is right financially and emotionally. With proper planning and due diligence this can be the most rewarding experience in your career.
FAQ About Sales
Is now a good time to buy or sell commercial real estate?
Interest rates are at an historic low and now is the time to buy or sell. There are numerous buyers in the market with cash and a sound financial statement that allows them to buy good solid real estate.
Although the economy is stalemated now, many opportunities abound and finding the right buyer is the key to any transaction. We have access to many buyers, both locally and nationally, who are ready to make a deal. The current state of the economy also can make it more difficult to keep a deal together. This is why it is more important now than ever to have an experienced commercial real estate broker in your corner.
Why should I work with you to sell my commercial real estate?
At Reasor Professional Dental Services we specialize in buying and selling commercial real estate. We have sold professional office buildings ranging in price from $500,000 to $3 million. Many of these have been complicated transactions to investors who are very educated and sophisticated buyers. You need to be represented by someone who is experienced and has the expertise in commercial real estate needed to handle these complex transactions. We can walk you through the process and close the deal in a timely manner.
|Dental Transition Seminars & Webinars
|Be sure to check regularly for scheduled events, or sign up for our eNewsletter and never miss a conference date! Click here to see upcoming events
Have You Signed Up For Our Newsletter?
If you are considering buying or selling a dental practice anytime in the next 5 to 10 years, then do yourself a favor and sign up for our free eNewsletter. You will learn about a wide range of topics critical to a successful practice transition.
To view past newsletters click here: eNewsletter Archive