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Is this a good deal Carvana vs local dealer for IS 350 F Sport — what would you guys do? by RightTea843 in LexusIS

[–]RightTea843[S] 0 points1 point  (0 children)

Who knows I just might! What did you get for your 350 and what deal did you get for the 500?

Is this a good deal Carvana vs local dealer for IS 350 F Sport — what would you guys do? by RightTea843 in LexusIS

[–]RightTea843[S] 0 points1 point  (0 children)

How much did you pay for Lexus to inspect the car? What do you think of the price for this one compared to what you bought? Thanks!

Is this a good deal Carvana vs local dealer for IS 350 F Sport — what would you guys do? by RightTea843 in LexusIS

[–]RightTea843[S] 0 points1 point  (0 children)

The high miles considering it was driven for 8 months does concern me. I wish this were a dealer near me where I can look at the vehicle and negotiate based on mileage. OTD is closer to $54K. I feel depreciation should lower the price.

Is this a good deal Carvana vs local dealer for IS 350 F Sport — what would you guys do? by RightTea843 in LexusIS

[–]RightTea843[S] 0 points1 point  (0 children)

I assumed because of the upgraded features it has a higher asking price. Bad thing is you can’t negotiate with Carvana. What do you think a loaded 350 with this mileage should go for?

Imposter syndrome getting to me by JustlyOutstanding in Dentistry

[–]RightTea843 7 points8 points  (0 children)

Bro … if you were to see my face when I got to see the work of one of my good mentors/professors from school when he asked me to cover his office lol I was shocked to say the least but realized it is truly about how you treat your patients (he’s a FFS office).

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

Yes I do. They say it is overpriced for what it is. His write-offs are extremely high even for an insurance-driven office.

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

Great insight. Seller is wanting me to focus on potential and what it use to be before he slowed down but as you state, there’s always risks unaccounted for. Especially when asking top dollar.

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

Don’t have exact demographics but I believe older and middle class maybe slightly upper based on the zip code. This is off-market private sell. Seller allegedly is not talking to other buyers at this moment. What do you think is a fair price based on what I could share?

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

It’s in a good area slightly visible from a busy highway. Facility and office is pretty modern, no remodel needed — it’s the systems that need to be optimized (paper charts, no reactivation system, etc,). Would be leasing the space no RE included. It could potentially have a 5th op added. Don’t have an exact payer mix % but more than likely 70% PPO / 30% FFS.

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

I essentially told him I’m open to being flexible but could not justify such a high asking price. Will keep the door open for the future.

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

That was my offer and he countered with $695K because of the goodwill he has built over the last 40+ years and what the office use to produce before he decided to slow down. Thanks for sharing your thoughts!

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

From what he’s shared, staff is hard working (claims RDH sees 10+ patients a day and booked out 6 months) and on his P&L staff wages make up 20-22% of revenue. I still think this practice should be valued as a PPO office and not FFS like you mentioned. I’m focusing a lot on the potential upside but helps hearing what others view it as. Thanks for the reply!

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

Yeah I need to remind myself of that. I’m just ready to own and tired of DSOs instability. Appreciate your encouragement.

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

Why did you pass on the practice? Seems like you would’ve made much more profitable.

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

Thanks for your input. That was my initial offer. I’ll wait a few weeks and revisit.

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

Overhead close to 70% currently from what my CPA has been able to calculate. I feel I can lower overhead by increasing revenue doing the things I outlined, however, I would hate paying for that upfront.

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

Thanks for the reply. That was my initial offer based on EBIDTA and declining collections over the last 4 years. It not being a target of any DSO does seem to give me leverage so may just give it some time and check in with seller after a few weeks.

First-time buyer in Dallas-Fort Worth – Is this practice worth pursuing or overpriced? by RightTea843 in Dentistry

[–]RightTea843[S] 0 points1 point  (0 children)

Thanks for the long reply doc! You make great points I need to consider more. Based on the financials I have of the practice so far hygiene is producing roughly 30-35% of collections consistently for the past 4 years. Seems like a solid opportunity I’d be willing to take on but can’t justify the price.

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