Hi been lurkig and deicede to post. I have my
RE license but find investing my real interest. I have 2 sfh’s that were not purchased as investment but to live in and when we moved we rented them instead of sellin. they don’t cash flow properly but they cover the mortgage and mngt. and provide a little extra cash.
I ran across this guy who was a dentist for 30 years. 5 years ago he had a stroke and shut the dorrs for a year, since then he has been taken advantage by associate dentists( he admits he is not bisiness savy). he sold the practice to a former employee, but she hasn’t paid the mortage or the rent in 4 months. he took back the practice a few days ago. I havent took this past the small talk phase and haven’t seen any financials. he says before the stroke he was groosing 650k with about 50% overhead. the deal to the former employee was 150k,25k down,9.25%, owner finance. I know i coul get it for less but have many concerns. the biggest being malpractice insurance. can a nonmedically licensed person even get malpractice insurance. im going to guess the insurance is already insane and this situation if doable would only increase the premiums. i don’t know i’m just happy i found this board and all the ifmormation and knowledge one can gain form it. any feed back would be appreciated.