Dentistry & Real Estate

On this episode of NextGenDDS, Dr. Scott Menaker and Wes Lyon explore the critical link between dental practices and real estate investments. They discuss how many dentists may overlook the long-term implications of property ownership when purchasing a practice, sharing cautionary tales of financial disruptions caused by unexpected relocations. The hosts highlight the importance of controlling real estate assets, emphasizing the significant renovation costs that can arise in dental-specific setups. Listeners are equipped with valuable strategies, including negotiating rights of first refusal and understanding the risks of urban development areas. The conversation encourages dentists to evaluate their current practice locations against potential moving costs, advocating for careful due diligence and strategic real estate planning. Scott and Wes conclude by stressing the importance of consulting professionals for both practice and real estate evaluations to secure a stable future.Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or email us at [email protected] you're not already, subscribe to The McGill & Lyon Dental Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.