How many years after graduation to own a private practice

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Oculopathy

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Is it possible to find 100% financing for a private practice as a fresh graduate? What time frame is reasonable/realistic in you opinion from grad to owner? What are some ways to expedite the process as a student (I'm almost OD3)?

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Is it possible to find 100% financing for a private practice as a fresh graduate? What time frame is reasonable/realistic in you opinion from grad to owner? What are some ways to expedite the process as a student (I'm almost OD3)?
Maybe but it's going to be real hard and you'll probably pay a criminally high interest rate.

As far as expedition goes, it depends on whether you are looking to start cold or buy someone out.
 
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Is it possible to find 100% financing for a private practice as a fresh graduate? What time frame is reasonable/realistic in you opinion from grad to owner? What are some ways to expedite the process as a student (I'm almost OD3)?
For an existing practice that is cashflowing? I imagine you'll be able to secure funding relatively easily.
 
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It may not be as easy as some think. The problem may not even be that you are new, but rather than so many sellers don't understand how to assign proper value to their practice. On top of that, the seller could be screwing themselves over by doing a number of things they didn't think were a big deal until the tried to sell, such as expensing all of their vacations through the practice, or even just assuming that because they make decent money a bank will loan on the practice. Banks often look at practice profit after the owner's salary, and many would-be sellers don't take that into account.

The best you can do is find a practice you're interested in buying, do your due diligence, and look for financing in many different places, comparing interest rates/terms etc.
 
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I think you'd be surprised by how many selling docs may be willing to finance the sale themselves.
Getting the payment monthly over several years has some tax benefits over a lump sum.

I financed the buy-in of 25% of my practice.
Once the price was set, I required a 20% payment and financed the rest over 8 years.
We set the rate at 1% less than the best deal he could find, and fixed, instead of variable.
Worked out well for both of us.
 
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