I'm considering buying a small practice. Cost to me would be about 400K. Problem is, the (leased) office space is really small. I would only be able to work 3 days a week (not a terrible downside, i know) given the other providers schedules.
Any advice from those that have done this? Practice profits look good, overhead a bit high (60%). Selling doc would stay on at least 3 years. Would this be weird?
If I do decide to purchase, should I take out a loan or liquidate some of my taxable account? I have about 100k in cash, 800k in taxable vanguard account, and 650k in retirement accounts. 200k left on mortgage, no other debt. Our taxable account is invested pretty aggressively (90% stocks) so we've lost some money in the last week.
Any advice from those that have done this? Practice profits look good, overhead a bit high (60%). Selling doc would stay on at least 3 years. Would this be weird?
If I do decide to purchase, should I take out a loan or liquidate some of my taxable account? I have about 100k in cash, 800k in taxable vanguard account, and 650k in retirement accounts. 200k left on mortgage, no other debt. Our taxable account is invested pretty aggressively (90% stocks) so we've lost some money in the last week.
Comment