Dentistry Uncensored with Howard Farran
Dentistry Uncensored with Howard Farran
How to perform dentistry faster, easier, higher in quality and lower in cost. Subscribe to the podcast: https://podcasts.apple.com/us/podcast/dentistry-uncensored-with-howard-farran/id916907356
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1467 Dr. Parth Patel, DMD, FAGD, FICOI, on Buying a Dental Office During a Pandemic : Dentistry Uncensored with Howard Farran

1467 Dr. Parth Patel, DMD, FAGD, FICOI, on Buying a Dental Office During a Pandemic : Dentistry Uncensored with Howard Farran

9/24/2020 3:00:00 AM   |   Comments: 1   |   Views: 161
Dr. Parth Patel grew up in Atlanta and earned his Doctor of Dental Medicine (DMD) from Midwestern University, College of Dental Medicine in Illinois after receiving his undergraduate degree in Microbiology from the University of Georgia. He then further continued his journey by pursuing Advanced Education in General Dentistry (AEGD) residency from Wichita State University in Kansas where he learned and developed a passion for dental implants. Dr. Patel is dedicated to providing the best dental care and staying current with the newest dental advancements, having completed over 1000 hours of continuing education courses. His mission is to practice comfortable, health-centered dentistry with a strong emphasis on personalized patient care.


VIDEO - DUwHF #1467 - Parth Patel


AUDIO - DUwHF #1467 - Parth Patel


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It is just a huge honor for me today to be podcast interviewing Dr Parth Patel DMD f-a-g-d f-i-c-o-i he grew up in Atlanta and earned his doctor of dental medicine from midwestern university college of dental medicine in Illinois after receiving his undergraduate degree in microbiology from the university of Georgia he then further continued his journey by pursuing advanced education in general dentistry residency from Wichita state university in Kansas where he learned and developed a passion for dental implants Dr Patel has completed an implant fellowship from New York university stony brook with Dr Salma and group that's dental xp and Dr Patel is also Invisalign certified is dedicated to providing the best dental care and staying current with the newest dental advancements having completed over a thousand hours of continuing education his mission is to practice comfortable health-centered dentistry with a strong emphasis on personalized patient care most recently Dr Patel received his fellowship from the international congress of oral and pantology and the fellowship from the academy general dentistry and i am so um so um my classmate Becky Sissle do you remember Becky Sissle um yeah she's the um uh what is her title she deemed the clinic floor or something like that um she was a classmate of mine umkc uh class of 87 and let me see what um issue uh what show she was she was here on um she was number 291 you're going to be like 1500 but she was 291 four years ago student to teacher uh ratios with uh Rebecca Sissle when she was at the other midwestern here in Glendale and then your um residency was the best teacher in umkc dental i mean the prosthodontist the legend dean Elijah DDS MS who i just post on dental town just won dentist of the year award by the Wichita district dental society that guy is just all things amaze amazing did he have a big influence on your career absolutely yeah first of all thank you so much Howard for having me on the show i really appreciate it it's an honor um Dr Dean Elledge yeah i first met him at the interview and yeah he was passionate he was uh super motivational uh his whole team actually uh at the residency and yeah he has he had a huge influence on i placed my first implant with him in the residency so just looking back at things you know it's uh yeah he's played a huge role in my uh professional development he and he was just so damn cool i mean you were never afraid of him you could always ask him a stupid question and he just seemed like a uh a real world man's man dentist like you know well that you know this'll work this is how i do it he's just so damn cool uh i need to get him on the show and by the way i love your on Instagram on instagram your um real Dr Patel should we shall we tell them what happened before the show uh sure or is that or is that embarrassing and we should not do it it's behind the scenes it's behind the scenes uh long story uh but anyway um my gosh uh the long story short is on dental town there's 280 Patels and in my contacts i think i have 70 and um it's a uh what is that name so common what does uh like your name's Parth Patel and i know Sanskrit was the first language ever discovered uh because i remember i remember this debate clear back in catholic high school when um one of the nuns was saying this was the oldest religion and someone's like no it's not and then she said well they mean the old testament Judaism and they're still like no it's still not it's Sanskrit it's Hinduism isn't it that that's the first sign of writing religion everything over yes i believe so 5 000 years ago more than five yes more than five thousand more than five yeah and um so um what does parth patel mean something mean anything since it's so common yeah so part actually i i believe i might be wrong but i believe a part means is um someone that doesn't miss uh their aim or the target i think that's what it means um it's uh been used in in one of the uh the famous uh books called the mahabharat and uh yeah so yeah that's what it means i think and patel is just a common last name from that belongs to a certain um uh region of India uh most mostly the western part of India so now what year did you graduate what year did you um get out so i got yeah i got out in 2016 from midwestern and that's what i was so excited about because you know these um you know these young kids you know a quarter of our viewers are still in school and when i look at the people who comment and YouTube or send me emails at howarddowntime.com i mean podcasting it's an under 30 thing old people aren't on Instagram and snapchat and podcast and everything and you came out four years ago and have been crushing it by any measurement you could do and i wanted you to um talk to the kids that are um either still in dental school and scared to come out and i really feel sorry for a.t still i mean the country threw 6 000 kids out of graduate dental school and they're in the middle of a pandemic um again on dental town since 1999 the classified ads have always had about a thousand dentists selling their practice and about five thousand dentists looking for a job now it's two thousand selling saying I’m done and only one thousand looking for a job and it's all dsos and if you're a year sixty-year-old dentist and you never got divorced uh you know instead of do all this ppe and all this they just sold and left i mean and now if you got divorced once that'll back up your retirement 10 years and if you get divorced twice you will actually die at the chair probably chained uh to the cuspidor or something um so um you know they're um so what they're what I’m sitting there thinking if they just got out of school and you do this aegd residency gpr um with the man dean elijah what if he became a dental school dean would he be dean elijah dingdin that's what i always thought any knowledge um so what i mean what advice would you give them you know that just that just came out of school three months ago in may you know howard this uh this time this pandemic has you know has changed planned for a lot of people uh i feel like the graduating class of 20 2020 has a huge uh obstacle the pandemic in terms of finding jobs uh some people i know a good friend of mine who did a residency in Atlanta he's having a hard time um he's supposed to graduate this year he's having a hard time getting his license approved so he can't find a job until he gets his license so i think but why is he having a hard time getting his license approved because uh the Georgia board of dentistry i might be wrong but georgia board of dentistry was not uh taking his application because he still has to take credits even though he finished a residency they won't let him um take the exam or something like that and want to prove his license so it's uh i don't i think he tried to appeal it i don't know what the outcome of that was but that was about a month ago so um it's just tough with that tough timing with that but you know being in dental school third and fourth year i kind of figured out that you know if you midwestern did not have a residency program so it was kind of nice that if you were cool with the old surgeon if you're cool with the endodontics you get to do a second molar endo you get to play some implants or at least do some osteotomies if you were cool with them um and if you know you're stuck right so basically i figured that out fourth year of dental school that hey i kind of like the bloody side of things and that's why i pursued the residency so i think it's important uh to know what kind of drives you what your passion is and kind of go for that uh especially during your fourth year i know there's a lot going on uh it takes a lot of discipline to get through a fourth year of dental school especially finding patients doing your requirements and then you want to apply for residencies then you'll have to travel for that so all that put together you know i think you just need something that you are passionate about it's hard to know just doing two endos in your third year that you like endo i mean it could be an expiration i mean that's i went into this residency with Dr Elijah with my mind you know wide open um just bring it on whatever it is let's see uh how it goes and um yeah so that's how that's how that started well you know business in three words is supply and demand and i think it really helped to learn how to make a supply of something that people are demanding like i wouldn't go to Childress Texas and open up a Mercedes-Benzes dealership they all want to f 150 f 250 f 350 and you know that that's all they want and in dentistry i mean um you know dental public health is a specialty and it just seems like the dental offices that do the best they always can get you out of pain and when you go in there and you have a toothache they can extract a tooth or do a root canal and those are two of the most difficult procedures and those specialists make the most i think um where is it here um my gosh uh yeah i mean um oral surgeons make the most at four hundred and forty eight thousand a year periodontist 330 endodontist 307 but the only reason endodontists went down is because like when i got out of school in 87 an endodontist would do eight or nine molars a day and then they fell in love with microscopes and they can see and they love it and that's all great for the soul and the how long it lasts and all stuff but their productivity dropped from eight to nine to four to five so their income is falling down i mean well yeah i mean if you do a root canal i remember um having this conversation with um dr l steven Buchanan um love that guy and um and um he was giving his lecture he said you know what i do he this is what he said he says you know I’m doing my whole endo technique but right when i get ready to operate i fill the canals and let it just sit there for an hour and uh i thought my god you just doubled the time necessary to do a root canal that just doubled the cost of a root canal if they you got to say you got to tell them this has to be an extra room because if it's your only operatory you just doubled the cost of a root canal you cut the access in half there's 8 billion people you just condemned hundreds of millions of people to extractions stephen you can't say this and i said you got to tell them you got to get an extra chair or some something and shares are never your cost i mean it's always the insurance um reduction you charge a thousand for a crown but you signed up on this plan 6.50 so 350 dollars cost or 35 right out of the gate is your uh fee reduction then there's labor lab supplies um but um my but my god a doctor and that's what i don't understand something motivated all of us as kids that we want to be a doctor so why now are you afraid of blood and suturing and just i just tell them get over I’m sure everybody that was drafted to go to war was scared as hell i know i would have been peeing my pants uh you know when you see those horror movies uh but you have to get over it i mean you're a doctor and when someone comes into your office and you're a doctor and they're in pain you have to do a root canal or an extraction and i know you want to run off and learn bleaching bonding and Botox and that's all good but first you're a doctor and you need to do doctor stuff do you agree with that or is that is that not true you know i think uh being so basically what you're saying is if you're in dentistry you should know all the basic procedures in dental school we're taught all the procedures now when we get out of school we try to find a comfort zone and we get stuck so that was one thing again going back to the residency dean ellage one of the things we used to joke about is that uh we we're here training our residents to be a super dentist now what is a super dentist a super dentist is someone who you know does all the root canals but also can do a first molar or a second molar root canal proficiently um a super dentist is someone that can't just restore an implant they can also place a simple implant um or do Invisalign cases and stuff like that which you didn't get enough exposure in dental school so i think it just ties back to that and being able to be in the right um location what the patients need reading that and delivering on that i think that's the key uh having your vision and your goals set on what type of procedures you like even though you like some things with the pandemic and you've said this multiple times on your show about the 2008 um recession how in Arizona there's a lot of cosmetic dentists that went under just because of the fact that they only did cosmetics they never or they forgot to do root canals or they forgot to do extractions and they just got comfortable and got happy and then this hits and nobody's getting their uh upper eight veneers done and now they got a toothache and they need to extract it but hey i can't do it anymore i got to send you out to the old surgeon so that's i think i think that's what it stands down to that's what i feel and in finance you call it diversification you know you wouldn't have all your money in one stock so why did they put all their money in cosmetics i mean there was a ton there was there was a bunch of boys up in north Scottsdale that their whole gig was you would come in they take everything out of your teeth all your crowns fillings amalgams everything and then redo it on all beautiful empress glass and um it was gorgeous and they were charging you know uh 25 000 arch and these were people paying 50 000 now i want to say something because i know uh you're young do you mind telling me how old how old are you I’m 29. what i mean my i got two boys older than you and so young bright-eyed and bushy-tailed boys like you thinking oh that girl that paid that she's uh some model on the cover of vogue and she's some hot woman no she's not she's got liver spots bigger than her incisors and that you know when i tell you um it's an American worth a hundred million dollars what do you think this person would look like an American with a hundred million dollars we'll start off simple is it a boy or a girl uh probably a boy the boy made the money died of heart disease right at probably 65 and a heart attack the wife sold the company got a great investor guy that just put it you know probably 60 percent index funds 40 bonds or whatever now she's 80 and you know they sold it for 10 it's a hundred um i i wouldn't spend a lot of time with um Larry Rosenthal who's the you know the master man and uh and that was the first thing that blew me away i was about your age without the hair and uh my gosh um i couldn't believe it i mean everybody paying 50 000 arch they were i mean i they had to be assisted to the elevator but um it was just making them feel young and beautiful and all that stuff so you know the young 18 year old supermodel you know doesn't need it and the people with all the money are older people uh but um but yeah but anyway when that gig dried up because you know the easiest test to tell someone's intelligence i mean you can start telling them when they're i i think 12 15 16 21 give them a Benjamin give them a hundred bucks and a fool and their money always parts and two hours later uh she comes back and she's got some designer jeans and she got her nails done she's like wow and then you got that you got another kid you give him a hundred bucks and it goes into the savings account and you know they learn how to make interest but a fool in their money always part so when the economy contracts the smartest people who are obviously when it comes to finances it's the money people they don't spend it and um so when they when they're not sure what's going on in fact a lot of people at that level are rich in the stock market they're not even trying to make money they're trying to preserve their purchasing power uh you know so it might look like it's all going up and worth more but inflation you know it's buying less uh but yeah the 12 um and then the thing that dean Elijah’s talking about the super Dennis what's scary is you know 1900 there was only one specialty and now there's 12. and one man can't learn everything about eyes and retinas and glaucoma so um you need to be a specialist but i think um at the end of the day you got to be a doctor and for dental public health for everybody having access and availability i mean on every corner in America you can buy nicotine caffeine sugar i can go in there get a 64-ounce Coca-Cola made in your town of Atlanta georgia and buy all the coffee and Starbucks and so all those drugs are available on every corner so dentists have to be you know they got to be available on every corner and you should just be able to go into a dental office and at least get a perfect triage you know a diagnosis a treatment plan you're no longer in pain and you don't need to embarrass howard by being the eight percent of emergency room patients because the real doctor doesn't work three day weekends and the real doctor is like i don't do that i mean you know you got to triage the patients sure yeah for sure so yeah dr d nelly also made a good point um uh there's definitely a position and a place for the specialist so knowing when to refer i remember when we first started talking about implants because the residency is known um where you can get proficient in dental implants i still remember the first i think the first lecture or the first seminar we had on implants was about complications and basically it was uh if you can't fix the complications then maybe you should be placing implants are you interested so basically we had six people out of six one of the girls i don't think was that interested so she placed the bare minimum implants and she was more into root canals so uh we were able to give our patients to her and she would trade her patients with us for implants so that was uh that was a that was a good gig there um i think the greatest teachers um are the ones that will teach will teach your mistakes i mean you don't learn anything when you do the exact same recipe and it happens the exact same way i mean how many times could you cook craft dinner with a stick of butter you know i mean you could make craft dinner a million times you're not going to be a chef um you know you need to learn something and i i mean everybody learns everything from their failure and the best instructors are the ones that go up there with their carousel slides and show you every nightmare catastrophe that made him lose sleep and stomach lining but the low self-esteemers take the same three cases and just go around the world keep showing their three wonderful cases and it's good for their um ego and low self-esteem but it doesn't teach the student anything and it's really nice when um instructors will go up there and say here's every single problem i ever did in my life and um you know that's just uh amazing so um so what are you um what are you um four years out of school what where are you at now what are you excited about so i am currently in the middle of and practice acquisition uh and i remember talking to you over the phone a few months back and you gave me some advice and i kind of used that advice and right now I’m in the middle of an acquisition hopefully in about a month and a half to two months closing it closing on a practice uh during the pandemic hopefully by that time things look a little bit more clear but yeah that's where I’m at right now I’m um associating at another practice and just going from there and the man i was talking about that touched everybody's heart when i was getting my um fellowship in the academy general dentistry and the fellowship of the mission student diplomatic implants and all that stuff is was Charles Edward English DDS who lived 1946 to 2005 and implant prosta said green he finished up his career green laboratory in little rock Arkansas and he was the consultant for green laboratory and green laboratory is really interesting because there's a couple different business models in labs one's like Glidewell like you know um get five percent of the entire u.s market and you're the biggest lab in the world which he is i think he's up to seven percent but there was green in Arkansas and lords and um green bay packers uh Wisconsin where they just stayed in that one state but they got like half the doctors in the state with study clubs camaraderie community loved that business model Reni Sheliner did it up with green bay but Charles Edward English every case that he did or anybody's case that went south turned into a teaching case and he could literally lecture for 40 days and 40 nights just showing you of all these failures and you just you learn the most i mean after like four times of this happening like oh yeah I’ll never do that jiminy Christmas and he taught by um he just had the self-esteem and then and then it was after the show it was really great because me and him could spend a lot of time together because it was again a dry county so we had to get in a car and drive four hours uh for our booze supplies and uh load up the trunk and uh illegally sell it out of the uh trunk at the hotel but uh what would a great man and more teachers should follow his lead um he's surely missed uh by just having the self-esteem to show you what they did wrong and that and dean ellen uh you know reminds me of that you know he was a guy he'd say yeah that sounds like a good idea in fact i tried that once you want to know what happened to us you know and i just say a great guy um so you're buying a practice that's so right now you have a practice in in um escrow or uh no so uh I’m past the loi the letter of intent phase uh just my due diligence period just trying to find some funding with the banking and the lending industry going crazy with the kobit stuff uh they have their formulas changing every day for the most part uh so just battling that and so you've already um you've been out of school since 2016 about four years you know they i mean most of them only ask for one year it's one year to none so four years pandemic i understand that that's a that's a monkey wrench but right now is funding the main issue you're waiting for a funder yeah i do have an approval uh but there's a lot of contingency that they're putting on um the particular practice I’m looking at it's uh the doctors having health issues so basically the doctor can produce to the pre-covered numbers and that's something that each bank is looking at um and the formulas keep changing so basically i think around may and June the formulas were 80 of pre-covered numbers uh now they're back to 100 percent of pre-covered numbers so everything is fluid each bank has their own formula so it's just trying to figure out uh what's going to work out at the end around the closing date okay so with kids you know with kids um the most important thing they have to learn is that you know it's a social animal there's eight billion people um you're not living on an island so um so it always comes down to network it's not just what you know it's who you know um so how um so i see that um so um what have you posted this on dentaltown that you're for financing and that changes the fluid numbers okay yeah did you get any leads there i did uh i think Jason would i think he helped me out with a couple of good comments and i actually did uh dm him on there and he asked me to give some information so he gave me a good um a good set of information which kind of lined up with my attorney that I’m using locally um who's a dental specific i think you had him his firm Stuart Oberman on your show yes at some point I’m working with his partner Lauren who's helped out helped me with all my associate contracts since I’ve been in Atlanta so i had a connection with her and she's awesome she's terrific you know she's helping out with all the uh the lease negotiations that's kind of the uh part we're in the process uh with this practice and so yeah just uh i did post that on downtown Jason wood and i think there was another person uh i forget his name i think he's the lease negotiator company um that helped out with some information so the lawyer you lose you're using is in Atlanta it's Stewart Oberman law firm but it's his partner uh our assistant would you say Laura Lauren l-a-u-r-e-n man Sauer so that's an attorney and you're using this attorney just for the dental transaction um yeah so she's helping me out with uh pretty much everything the letter of intent um negotiating the contracts the asset purchase agreements um you know the non-competes basically a to z whatever needs to happen legally for the practice uh sale and uh and how's that going uh it's going great uh it's going great obviously it's not first practice so a few hiccups are in there and then again covered in in the mix throws in a little uh excitement on a daily basis so did they fix you up did they fix you up with the finance uh no so the finance was uh i so Lauren knows people um in in the community that she's been working with so definitely that helped uh getting introductions and the cpa the consultant that I’m using for the financial side of things he also recommended lendover um as a bank for he recommended who lend ever it's a bank endeavor lend ever uh it says one word it's l-e-n-d-e-o-u-r v-o-u-r sorry v-o-u-r now um what uh so how many banks have you actually worked with so i have talked to close to five or six banks uh in total uh i was you know i was talking to another bank for uh for another practice prior to this one which didn't happen uh that was around may when i called you i think it was around may when we last talked and so this is for this particular bank I’m talking to three banks uh wells Fargo bank of America and Landover okay so you're talking to um there we go so we're talking to uh bank of America um what was the other one wells Fargo wells Fargo and uh endeavor okay so like um i bank at chase and my idol is Jamie diamond um who was a protege of uh stephen of uh Stephen Weiss who wrote the who did the whole city group thing and Jamie was the um groom to replace him and then he did the cardinal sin where he uh made you know tried to marry his daughter and the next thing you know he knew seriously it was in both of their autobiographies but that was the split and uh Jamie is uh went to chase in Chicago but to get back to new York he did the you know the mergers and acquisitions of with chase and all stuff but I’m just a genius guy but they don't have a banking division and I’ve had I’ve had lunch with uh Jamie three times um because when he comes into town um the branch managers um my branch manager knows that you know i love the guy and so every time she gets to take it she's like how word guess what i got another ticket for lunch with it and every time I’ve asked him a question he's just so serious and he focused i mean you can just tell he's really there but they're just not interested in in that so you're down to bank of America wells Fargo so have you talked to someone who only does dental from bank of America wells Fargo lend ever yeah so all the people uh that I’ve talked to they're strictly uh their dental division uh the dental specialty division so um the the banker that i am in contact with for bank of America he i believe does 70 80 of all sales of dental practices in the Atlanta area for bank of America nice so now see kids so he did his homework he's so no matter what happens he's not going to sit there the rest of his life wondering if he shoulda coulda woulda i mean you did your homework and you found the guy um who does that fantastic uh yeah and and what have you learned from him um a lot of good things to be honest so the first time i talked to him was way long ago i think maybe over a year ago is when i first reached out to this Benjamin Stewart uh no it is matt Adrian matt Adrian okay yes um so yeah i just called him and i said hey I’m looking to buy a practice so what's up what's next uh how do i get started um you know just the basics uh what are the what are the steps what comes first what comes second so he just kind of gave me the rundown like a quick 30 minute you know you need some cash in the bank you need your production reports hold on to those um have a good line of credit or good credit history um just stuff like that then how much does your student loan uh based on that you need to find a practice that's able to cash flow enough and give you enough um income in order to support your student loans and your in your life basically so he gave me that and then started the search for practices uh been looking for a while a long time to be honest and uh then covet hits so obviously that put um things in reverse gear a little bit backed up a little bit and but yeah i eventually found a practice through a broker uh the broker reached out to me because I’ve called every single broker in town I’ve cold called some offices talked to some dentists um no luck there but the broker reached out to me and he had something for me and uh yeah we got we started talking and exchanged some financials and just kind of got went ahead from there so you feel like you've found a practice that you want mm-hmm and yeah so you so you found the practice and where is that is that in atlanta or um yeah it's about 20 minutes uh north of atlanta um in the suburb is called alpharetta um alfredo georgia and um so yeah i found it i think i found it so yeah and so right now the only thing you're that's holding you back is actually the finance the close um yes it is it is the financing it's more than the financing is actually the contingencies they've placed on the financing so even if you have an approval in your hand it doesn't mean anything until the contingencies are met they have some of the basic ones which are you know have liability insurances malpractice those are all easy go over the easy ones and we'll go over the hard ones what were the easy ones so the easy one would be like have a malpractice insurance coverage up to a certain amount and what does that mean i think it was like a one million and three million total so one million claim and a three million tail okay yup something like that um then there there's one for having a business uh insurance like in liability insurance for your business if something goes wrong in the business um then they need stuff from the seller like uh their tax returns and stuff like that to make sure there are no uh do like a lien search and make sure there's no um mortgages or something on the practice so those are the easy ones because the owner knows the practice is being sold all those things are just the basic stuff what got added on because of the pandemic was production um contingency that's where all the banks i believe they defer in their formulas so what they want to know is i know in may i was looking at another practice when i talked to you their rule was let's see if the practice is up and running and we will compare let's say for the month of may and june we'll compare may and june of 2020 with may and june of 2019 and pretty much compare those numbers and see is the collections up to 80 um if it's not then they're not going to lend if it is then they would think it's okay to lend okay so it's got to be how so it's going to be how much percent it's going to be 80 80. yes 80 percent eight zero okay and so now um you know there that what the asset is well i want to back up to one thing you said earlier is um one of the things these young kids don't um understand I’m specifically talking to dennis with big families um mormon lds um if you buy a three-bedroom two-bath house and another guy buys a five-bedroom house well i don't care how long they own it upkeep or whatever but when they go to sell it one's gonna be selling a little three-bedroom house and one's gonna be selling a big five-bedroom house so they know that they know if you buy a little house versus a big house how that affects the birch price well if you if you need a lot of money i mean sometimes i'll see you know a man with three kids whose wife wants three more and they're buying some little practice that does you know for 7.50 and I’m like dude you need to buy a beast you're you know you your household could eat ten thousand dollars a month for breakfast without sneezing you need to buy a bigger box but they're then they're correct in their thinking they're thinking well you know they want to go easy and not borrow a bunch of money and not go into a bunch of debt that's a balance sheet number you know your asset equals to and balance with your liability what you owe on and the equity of intuit but that's not a statement of cash flow if you get if you've already made the decision to have a stay home spouse and have kids and i applaud that decision because at the end of the day the only thing that matters for a species is to reproduce that offspring uh it doesn't matter you know it you know it just doesn't matter i mean a hundred billion humans have come and died already and if you go back you know just um you know go back uh 50 billion if they all decided you know what we're our generations we're just not having babies okay well we wouldn't be having this conversation so at the end of the day um you know if you understand biology the only thing that matters is that our species keeps dropping babies and we're dropping like 300 000 a day i mean and that's the only thing that makes me uh laugh when people are doom and gloom it's like what else could our species of crush we're the only one aware of our own existence we're the only one that lives on every continent um we're um one of the top ten in living the longest i mean we live a hundred years you're in there with a turtle a tortoise and some low water animals i mean if you just measure it by mass we're right up i think between like uh termites and ants beetles and humans i mean we've crushed it in every category that you can guess so when people are saying no doom and gloom it's like dude i mean what do you think the zebras and giraffes are saying when they look at homo sapien i mean they're not saying uh god I’m glad I’m not them they're like what the hell happened to me i just got this long neck and stripes uh but um so humans are just crushing it and um you know they're i mean they're basically in fact i don't even think you know the neatest thing is during the world war two every single one of them years we still the population grew i mean even during a world war you couldn't even kill more people than they would have babies i mean sapien is just an incredible animal uh but what they're but what so this how um so if your wife wants to stay home and have a litter of kids on behalf of the species sapien now i can't say homo sapien because you've killed off all the other homos uh homo erectus now you've killed everyone but uh but what's left um so get a bigger house and what you're actually buying is the cash flow so what he's saying is bank of america is um you know the um the risk of this loan is he's buying a cash generating machine a cash flow machine where you feed it a dollar or in this case dentistry you feed it uh six dollars and it'll um you know it generate profit so he wants to see that this machine in may of 2020 is doing at least 80 percent of may of 2019. so how do those numbers look then so this practice i just found a few months uh after the fact so the formula changed like i said things are changing so now the formula is 100 so what they're doing is if your collections are for example a million dollars in 2019 they would want um a million divided by 12 they would want that much per month for the last two months is what their formula is right now so you gotta so is this practice you're doing um so a million dollars so it's gotta do 83 333 a month exactly for two consecutive months it cannot be just one month and then drops off and then gets back so you're saying it used to be so you just have to be doing eighty percent of three cover numbers and now it's back up to a hundred back up two hundred so how does that affect your deal so the way it affects my deal is we don't know so we're in middle of September we're hoping to so the doctor has some medical issues and she can't work as hard as she used to so that's something that we're hoping that the banks would consider and if we're not there if we're almost there maybe 80 90 and if they'll consider that or not so that's the that's the issue right now and you're just talking to one guy at bank of america yep just one guy there well he has his assistant and his underwriter who I’ve spoken with multiple times they need documents send them over and if you talk to Benjamin Stewart uh matt Adrian what's that his name is matt Adrian right but that's Adrian but his boss so matt Adrian um is he a young guy uh yeah i believe so i think he's probably in his 40s i believe i haven't personally met him but only soaking him over the phone i just assume he reports to ben Stewart down there i got it i haven't i haven't uh met or heard of him well you know what you might want to do you might want to chase that because he's in georgia right so he's up here he he's looking no just shoot me the email and i'll all he might be back his cell phone number in the email address but the thing is and i don't get commission i don't make money on bank of america I’m not doing that stuff um but the bottom line is um if someone's looking at all of georgia sometimes when you kick it up to the ladder and they're seeing you know the southwest or the us but they also always appreciate the hustle because all the old guys know well you know he didn't take no for an answer he he's hustling so he didn't take his no for an answer and you went upstairs well he knows when you get in your dental office you're not going to take no for an answer because of some problem you have they like they want to see hustle and that's the thing about dentistry they want to see hustle and uh darlene wing i mean my god she uh you know i um i went down there to get a loan from her and um because my dad wouldn't co-sign a loan or anything you know he paid for my sister's college but since i was a boy you know since i had a dang wiener i you know i was different you know and he said he worked at sonic breakthrough right yeah and um he told me if he paid he paid for my sister's college but he told me if i paid for my college that i would just go to creighton and uh drink beer and do drugs and chase women and uh and it was so embarrassing to go to creighton and have to buy pot with student loan money i mean it was just uh it was just uh embarrassing but um the bottom line is you know they want to see hustle and um so you know they can spot hustle and they know what it is and um so you start kicking this loan upstairs you kick it around and they're going to see hustle because they want to do the deal that's what's confused about a bank they only make money if they loan you so they want to give you the loan more than you want the loans um that's how they that's why they build big buildings with marble and all this stuff to try to make you not realize your true place in life which is they need you and you could go to any bank but they try to reverse that but darlene wing it was amazing um when i first told her she goes she says howard this this is gonna be real easy you know i just need your dad to co-sign that and i said well he's not gonna co-sign it because I’m a boy and he goes well you need to go talk to your dad or mom but um there's nothing to talk about here so the next day when she got to work at eight i there's your parking space it was called valley national bank downtown phoenix and every morning i was there with my little easel to show her what i had done the day before i had i already designed my place i got the um the guy to do the build out he wanted a uh 15 a year a 15 square foot a year lease for three years i raised it to twenty dollars five years he's doing the whole build out um health goes doing the whole equipment it's gonna be like eighty five thousand and it's gonna be a 60 month payment lease to own and uh and she said yeah that that that's great but i can't help you but every day every day i was there at darlene winger's um stall um probably a half hour before she got there and this was before there wasn't cell phones everyone there wasn't even a nokia flip phone and show up i'll never forget when we finally did that she said to me she says howard if i give you this loan do you swear i'll never see you again and i said absolutely not darlene I’m gonna be your best client but anyway and two years later she financed another deal but they like to see the hustle because you know most people they leave for work in the morning and they open their front door they're like what is that and they get on their hands and knees and they look real close and they hold them some aunt pooped on my front door and then that's a reason to go have a bad day and go be dysfunctional and all that kind of stuff like that so they just like the people that you know that you give them a little um obstacle and matt's um stringing this along so then you go to benjamin and then and if that doesn't work then you go to wells fargo so who how far are you at with wells fargo uh wells fargo so they are taking about three weeks in underwriting so i have all my information submitted to them and um I’m guessing they'll have a credit call with me just go over the practice and go over my plans and whatnot and then um and then give me a decision based on that so back to the first one so you have a um the owner doctor she's sick and she's saying that she doesn't have the energy to do what she used to do have you asked her if she could co-sign for part of this because back in the day before the big boys got in i it was a better system because um what they would do is the dentist would um say he sold you the practice for one dollar well he usually owned the land and building two which is another dollar and then he would sell you that one dollar at ten percent interest for seven to ten years and make that be another dollar so he turns a dollar into three so i got a land and building in practice and you come along buy it for a dollar but i finance at 10 interest for 10 years and i make another dollar and then at that point um you've been there for 10 years you own the practice you're free from debt but you're uh um and mammal so you know you're territorial and you got to go pee on the four corners of your yard and you're like i want my own landon building and cave because I’m a monkey who lost his tail and um so then so then you know you don't really have anybody to go shopping around there's no bidding war for the dentist who's practicing there for ten years so it's an easy layup and the owner says okay i'll sell you the practice for another dollar so not only did the dentist get three dollars instead of one because he sold the practice he made another dollar financing practice and then he sold the landed building at the end but what was really cool is he had skin in the game so if he's looking at ben and ben drives you know a Mercedes-Benzes and we're in parsons Kansas and everybody has an f-150 and everybody's talking trucks and hunting and you're talking you know uh roses and whatever um he might not think if that you might make it there but if his money's on the line he always hand-picked those dentists and I’ve seen some dentists out here in phoenix sell practices to people that didn't even have a chance of making it and a year later went under and no one cared because he got his money from the bank the banker got his commission you know everybody got a commission so if you asked her have you just said look man we're in the middle of a pandemic um you know what would really please him a lot is if you put some skin in the game why don't why don't you co-sign for an amount of it so yeah we haven't explored that just yet but um that was an option for one of the deals before this practice that i was in uh we had the doctor uh potentially take uh 20 um 20 back uh on the deal but on this particular deal uh we haven't we're seeking 100 uh financing from the bank and we're doing like a hold up uh hold back I’m sorry a hold back contingency for the doctor to help with the transition for a year and um everything goes smooth um then they get the money that's been held back okay so this other deal where the dentist was gonna um the dentist was going to carry 20 was that with a different bank or was that also with well um with the same bank it was uh no yeah it was it was a bank of america and land ever those were the two banks at that point when i was talking it was bank of america yep huh okay so i I’m wondering why they um they must ask her then or something because why would um they do a um on one deal where the dentist uh seller's going to carry 20 of the risk and not on this we asked we asked the doctor to carry that yeah my attorney and my accountant and i uh we put our heads together and came up with that and um we asked the doctor to carry that back um but that deal didn't happen so um and why did that deal fall through uh yeah a lot a lot a lot of there was something shady going on um we felt uh there was something where the doctor was given their hygienist to raise um after the letter of intent was signed and the reasoning was that the doctor wanted me to look like the good guy coming in giving them raises where the practice was barely making it in terms of the cash flow on paper they were overpaying on marketing expenses they were overpaying on labs and supplies it was over 10 each um but i knew that if i went in and i looked at numbers that i can definitely bring these costs down and make this practice a more profitable practice um but obviously staff and labor you can't change and if you're going ahead and promising that you're going to increase the salary for the hygienist and it's not going to go back to the bank because the bank's calculation is made on the numbers that they presented before and this this is why you know a couple things so you know everything's got good and bad but and take the dsos and i know a lot of old guys especially a lot of the older conservative guys don't like it and all that kind of stuff well hey 6 500 dentists graduate from school and they're not providing jobs when we were little it was the army navy air force marines indian public health service whatever so i love the dsos they're providing jobs i love the dsos to increase availability accessibility when i go to all these little small towns or go to all these corners on arizona there's you know it's really increased the availability but the dso stopped going to small towns because the young guys like you with all that good hair uh you know you want to be uh the most ladies are in downtown atlanta not you know way out in the middle of uh nowhere and so the young millennials they're not gonna go work in a town of 2000 if they're single that's not why they wanted to become a dentist that doesn't fit so the dsos has stopped going there and a lot of those practices don't have liquidity the only people i see going in and picking up great deals again they're already married with children so if you've already got the whole family in a van i mean when you when you got three kids it does you know you don't need a bar and all that stuff so that's a great opportunity for already families but a single millennial isn't going to go there so the dso's to stop doing that and the dsos used to buy um a lot of practices they used to be a big part of the liquidity and they're all moving to de novo i mean aspen's only de novo heartland and uh pacific they don't want to buy anything because of the reason you just said because you know they need labor to be 25 uh lab you know eight uh supplies six um and this thing needs to be you know 65 percent overhead max um because they need uh profit for their you know their return on capital and what dentist does is because he's a social animal and social animals know that their survival is linked to other people so that's why babies start smiling at you right when they're born because they're just hoping that you don't eat them and uh and so what the dentist does is every time the earth goes around the sun they give all the staff a raise and then the labor creeps up to 25 to 28 to 30 to 32 to 34 and then they come in and the first thing they got to do is lower labor from 32 to 25 and give staff across the board pay cuts and they've got 10 years of data on this that 20 percent will understand the financial mechanics and the other 80 percent will just pout for the rest of life which comes back also to dennis that when you hire this person you just gave them a starting wage you didn't tell them the wage category like if you go get a job in any fortune 500 company they'll say uh parth you're this is your job so you know in accounting you know we start you at this much but the most you could ever make in accounting is this much if you go get a job at mcdonald's they'll say okay well minimum wages say 15 bucks but the most you could ever make is 20 bucks if you ever wanted to make more than 20 you would have to be a store manager or you'd have to do this or that so although so satisfaction equals um perception of what just happened minus what i expected and if they know that they're at the ceiling that they're never gonna make more well I’ve had two dental assistants go to dental school now they're dentists i had a whole handful go of dental assistant become hygienist because they would say i wish i made 40 an hour i go well there's five hygiene schools in arizona and you know what's really weird you're not going to believe this but when i when i got accepted to dental school there wasn't like five army guys with machine guns uh keeping you and your sister out you know you can walk in there just like anyone else you've either got an excuse or you really want to make 40 an hour and if you want to make 40 an hour i know the name of every hygiene lady at every university in fact i'll take you to lunch with her and um and so you know you do it but you know so um so again the job description is bad it didn't have a low income high the financials are bad um and this guy giving raises after he's given me the paperwork he's either you know i mean I’m sorry but that he's either dumber than a rock or you know he's sleeping with her or something you know he's it doesn't make any sense to me so um so have you done all these deals with bank of america have you done any um courting with wells fargo uh no i mean so I’m uh I’ve had applications with all these banks and basically uh once i give them the application they come back to me with either an approval or contingencies or uh with a certain rate and then i you know try to not shop around but basically try to find something that's going to be most beneficial for me you said you're 28 29 29 and what are the interest rates um you're um getting back so uh the lowest okay i'll tell you the lowest one that i heard from bank of america uh is one percent for the first 18 months and mid three percent for the rest of the term so for a ten-year loan the blended interest rate would be somewhere between somewhere around seven point two point seven or two point eight uh part another bank yeah part yes guess what the interest rate was on the first house i bought in 1987. over 10. i thought i was so lucky because the seller who's selling it his was financed at 14 and i got an into 12. and we're just like oh my god we're so lucky so don't tell any old people about the your interest rate dilemmas and shopping around because I’m telling you in fact that's the biggest um this is a new lesson that everybody's gonna learn so when i got out of high school um they had to raise interest rates to 21 percent to break inflation right so i know that people are doubting milton Friedman and it's the same newspapers that are doubting um gosh darn warren Buffett and Omaha and whatever you know it's they're a joke to me um you'd have to be an idiot to believe what they're saying but anyway so if the whole world only has part and in a whole year parse total productivity is to make one bottled water and the planet only has one dollar on it a bottle of water is a dollar but if the government comes along and prints money like he just printed three trillion dollars in the second quarter and threw it out in america didn't change the number of people or bottled waters but if now you're it's just part about a water on an island with one dollar if the government comes and throws a second dollar on there what's the price of water two bucks and that's inflation that's why milton Friedman and his wife rose was a better economist than him kind of like Gordon Christian and Rella i mean if Gordon would have married uh anyone else you probably wouldn't even know his name but i mean these guys completely mathematically prove that all inflation was monetary supply uh because if you and i counterfeit we'll go to jail for 20 years but the government does it you know daily and um and um I’m telling you that um they've just they're just throwing cash around and right now it's showing up in the stock market and the stock market's going crazy and that's good I’d rather everybody take that paper money and invest in stocks and then start rising the prices what used to keep inflation down is globalism because you know i can find someone around the world to make it but now you're starting to see anti-globalism tendencies but when inflation comes back what it comes down to the re a big part of it that no one talks about is just um you know like you take any belief in the world some people believe in it some don't like take religion there's three thousand different religions my sister's a catholic nun well she's um doesn't believe in the other 2 999 so she's like an atheist minus one and uh whereas an atheist is an atheist all of them you know but people agree and disagree same with government summer i mean look at a republican democrat some are this some are that you know but they're all different but the only thing you know the only thing that they all believe in the only belief system that's all a figment of your imagination there's no evidence for you know what that belief is money and you they believe all around the world in that u.s dollar and um i mean even when they go um to a military war like when they caught osama bin laden he had millions of dollars in u.s so he might have hated everything about america but not the dollars he had the cash yeah and um and once the people stopped believing in a currency they run from it and then you're stuck with all this inflation and all this stuff like that so the main thing i told you that whole rant for is that you've got to get a fixed loan um in the 88 in the 80 crazy days um everybody that i knew that went under it was because their loan was floating at 200 basis points over you know prime and as it started going from 5 to 7 to 9 to 10 to 12 to 20 to 21 they eventually had to pull the plug so you need to have your debt fixed that is the most important the interest rate is just trivial i mean it has nothing to do and i'll tell you why um i mean it's just so low i mean i mean it's just so low i mean i wouldn't even calculate that rate because I’d probably cough up a blood clot thinking of what i used to pay on interest back in the day so you're working with um you've done a couple deals with bank of america um you've done it um you're working a deal with wells fargo um and um and lindever and what's the difference between the three so i think uh lender is not a bank i think it's a lender it goes out and gets funding from other banks versus b of a and wells fargo is a is a true bank um i think that's the biggest thing with both of them between these two and lender but i believe what i heard from my attorney was that during the pandemic b of a stopped lending altogether for a period of time um but in that time lender was still lending so that's how i got started with them and they've got a great team as well and uh great support it's all online uh banking and all that so it's a very easy process with them and that's the main difference but other than that they all have competitive rates uh if it's just the interest rate but in terms of service they all have bankers they have someone you can talk to um yeah so how's the lender I’m gone oh good yeah they gave me an approval again it's uh approval with contingencies and everybody has their own formula so some of those easy ones which is standard you know like lean searches and all that stuff who are you um who are you working with at lindever i mean are you looking for someone as someone local in in the in the georgia market he is actually the one I’m working with his name is Morgan stump uh he is in the north west i believe um i got to know of him through the accounting I’m using for the practice for the deal um what's his name Morgan stump Morgan stump so the um again um you know um they're humans so you know the CEO of that company is uh Daniel titan and it's a fintech company out of san Fran so it's high tech um fast moving and um again um you call that guy and you ask him you know you tell him the deal and i mean he'll he's a he he's a young kid he's a fintech guy and we got a um and who's the guy on there um yeah um he's on dentaltown too um James back Meyer have you private messaged him on dentaltown or anything like that no i haven't heard of him yeah um he's a finance attorney he's on dental town he posts but um again um you know don't um [Music] a lot of times your parents do things to test you know what i mean a lot of times they do things they tell you to do this but uh i would just keep the hustling but i want to go back on your psychographics um are all these deals in atlanta were you born in atlanta want to die in atlanta do you do you have like a motherly thing with atlanta no i just i mean you know i grew up in India i uh live in atlanta i grew up in atlanta where you're from um in India western part uh the state is called Gujarat and is a city in Gujarat that i was born in but i grew up in atlanta i went to high school here i went to university of georgia moved to Chicago for dental school but you know friends and family is in in atlanta so I’ve got a soft spot for atlanta so first of all do you miss India do you miss home do you wish you could go back to India uh to visit yeah i miss India to visit the food's good family uh is there i have family there um yeah i mean i wish i could go there and have a vacation not work and um what's the pros and cons of living in atlanta or Chicago i mean um did you like the warm south better than the cold exactly so the reason i moved i went to Chicago was i have extended family there i have cousins and stuff and i visited when i was growing up and when i went there uh when i got the interview and i was like wow this is cool let's leave atlanta and uh figure out uh what Chicago is like how to live there and all that so i went there lived there the cold was brutal negative 54 or something like that we hit one day in in the winters and i i just want to say a disclaimer for my homies listening uh whenever an indian tells you it's family or cousin okay India they're all cousins they he thinks he has 1 billion 300 million because i remember i had this issue with T-bone one time T-bone and me and samara were in Vegas and all that said he was talking to his uncle i said i said T-bone this is like your 12th uncle and he's like well he's not my uncle he's just my uncle you know so it's just uh you told me to call you uncle howdy so i mean see we're here right so um but is your heart set on atlanta because again yeah there are so many illiquid practices in the rural right now that are just sitting there i did what i was associating i did associate in those rural towns we were talking about for one year i traveled 50 miles each way from where i live um each way so four days a week uh it was a great experience it was rural georgia uh if you take the map of atlanta I’ve worked north south east west outside of the 30 mile radius in these past four years so I’ve figured out each location what's good what's bad pros cons kind of write it down on a piece of paper and come up with an area that I’m happy with and i narrowed down to two suburbs of atlanta um swanny and Alfreda so luckily i found something in Alfred every broker everyone that i talked to would say did you go talk to Alan f Thornburg uh no i have not do you know him uh I’ve heard of him on your podcast oh my god that guy there's nobody that knows more knowledge about buying and selling a practice i mean i don't know how old he is by now um he's in fact he want to have a boy named um Allen but it came out a girl so he just named her atlanta instead i bet even atlanta mo knows more uh than anybody but um Alan f Thornburg has bought and sold more practices than any person on the planet I’m guessing if I’m almost 60 he's got to be um he's got to be in his upper 70s but my gosh why i do know this if you called up that guy and you went over and met him he would be able to instantly shoot holes in every every thing that you thought about these two locations and then but if he agreed that this is a smart deal that guy could find financing on his he's probably got an old Motorola flip phone and i guarantee you so you you're down to um you're looking at um two areas I’m looking at atlanta right now what areas did you say alpharetta and Suwanee georgia and where's our from that's all that's what i have to find first he was from Athens wasn't he rem um yeah yeah yeah i don't know why it's kind of like atlanta and Athens is kind of like uh Athens and Sparta uh Athens is home of rem and what the hell's atlanta compared to that i mean uh okay so alpharetta i found that and what's the other one 20 s-u-w which direction is it from uh alpharetta it would it would be east it'd be east yeah okay and uh is it as far away as um so Athens would be more east from Swanee northeast okay yeah okay i found it um so my gosh um you got it just the demographic i did the demographic search and on both the locations uh using dental graphics and using dental graphics yep dental graphics uh the location search and how much did that cost you um i think it was uh 500 bucks uh i believe uh there was a discount code um that my consultant provided uh what did you think of the service it was great yeah it was like a 30 page something like that um compiled results of uh the median age uh the income uh the growth potential what it looked like five years ago what it's going to look like 1 5 10 20 years from now um yeah stuff like that i mean it was all helpful information how many dentists are within one mile five mile and ten mile radius it lists out all the all the doctors you can search them if you need to um it's got a google map on there so it was pretty neat in terms of displaying everything in one location in one in one uh document right and it's just so important and when people tell me that demographics don't matter I’m like well great man go set up in Afghanistan and then call me in ten years and tell me um how that went so did you work with uh Kent miller on that or for the dental graphics or no so i worked i worked on that through my accountant so he ordered it for me based on the location that i submitted to him nice good work getting your demographics i mean at the end of the day it's all math and you just can't mess up on the math so now it sounds like you got the dental effects um you're married your wife's successful your hearts on atlanta sounds like it's just down to a financing issue yeah that's what it sounds like and i think uh i heard positive news this morning um in terms of the September 15 numbers for the practice so uh hopefully this season they're working right now she's working there right now yeah she's only working three days a week um but she she's having a lot of pain um and stuff like that but she's we're on the same page it's a good personality match and everything so i think we have a deal in our hands wow um was there any anything else that you think you should share with the kids um you know i mean you've been out four years and you're crushing it and they i mean talk to the class of 2020 what would you tell them they're i mean they're i mean i get text emails all the time i can't find a job i can't find a job what would you tell them i would say look into a residency look into some sort of a residency that has still spots open i mean it's September so it might be a little too late on that but there might be some spots that are open find a residency go in there um and just work just try to find what you like doing and stick with it technology is something that always drives me so i um we were talking about it with dr Elledge d knowledge and about some of the technology that he has in the in the residency i extrapolated on that as soon as i graduated you know I’ve used the prime scan that's the good thing about being an associate right you work at different practices they have different models so i worked with the cirque machine i worked with the niter machine now i know what i actually want to get um this practice actually comes with an iTero because they do Invisalign a lot of Invisalign so um it's a great machine it does great scans and i worked with an iTero in a previous associate gig that that i was at um using the iTero do a scan take a CT scan merge them and make a surgical guide to place an implant um doesn't cost you more than 10 or 20 bucks to make a surgical guide and make the procedure less than 45 minutes in and out so just stuff like that like whatever drives your passion technology was a big thing for me to kind of get into recently it's um i just got done reading your book uncomplicated business um so the money part of it the last section is uh what's most fascinating um especially with doing all the due diligence with all the practices for the past you know close about a year um all the statement of cash flow um profit and loss tax returns just getting familiar with all that i think it's that's my next uh passion if you would call it that oh that is that is uh awesome um my you gotta know your i noticed on instagram you said something so cute it says keep flossing and state glossing and my youngest son said that he's uh he must like the music of a little peta kippah who's got a song blossom and flossing by little peta keep it is that is that where you got that uh so actually um uh i have an llc called floss and gloss llc so that's where it came from i had to create that because i was an independent contractor and i had to get an llc for my accountant's advice but was it motivated from the song i mean or are you a big fan of the song or did you not know the song to be honest with you to be honest with you my wife came up with that oh really so i would have to ask her yeah i wonder uh well you know actually it's kind of funny with music because it's so complicated i mean history's filled with lawsuits like one of them is um what is um what is that song uh um by um oh my gosh um the beatles song um uh lord what what's uh harrison song with uh the lord yeah my sweet lord and i mean that would do you remember that lawsuit and they're just like what are you talking about and uh my gosh and to this day to tell you how bad i am and uh um when i listen to both songs i mean they don't even sound the same i don't even make the connection but if you listen to it with someone who plays the piano they think it's borrowed but no nobody thinks that it was done intentional but um flossing and gloss and i just love that man keep flossing glossing that is just i just love that keep flossing and stay glossing you got the hair to match i mean you're a rock star you already got the rockstar look uh now you just need to sing but uh um thanks so much for um you're being my connection between you know I’m 33 years out of school and you're four years out of school and those kids want to hear um what's real today and um and what's real today another thing you got to learn in school is your low is your location means everything i mean obviously you don't want to go to afghanistan or paraguay um you would like a fast-growing economy but you need to think about that when you're dental school because these are deep meaning and a lot of times dennis will ask me questions like that and i say to him i say okay i don't even know why you're asking me because this is something that only you can answer i mean the if it's matters of the heart it was like my boys was like I’m not gonna say word one about your lover because I’m not stupid I’m not gonna stick my hand between uh you and a female i mean I’m not dumb uh but um some things you wrestle with are just matters of the heart like do you want to marry this girl do you want to live in atlanta but if you're in dental school and you don't know if you want to be a periodontist or a prosthodontist well there's a lot of other matters of the heart that you could uh start working on right now because once you know where your heart is it's a lot easier for everybody to navigate and coach but i'll just end this show it's not what you know it's who you know and you're in atlanta georgia and if i had to pick between uh talking to dr hinman you know go back in time in a time machine are talking to alan f thornberg which is what afco is named after that old man i mean I’ve never eaten lunch or dinner with that guy and didn't learn three days in an hour and if it says anything to do with buying and selling in practice or financing it's done i assure you that if you were sitting at a table with alan and he was drinking this deal is done so just go find them go get them somewhere at a bar and have a drink with them and my god listen to those stories their prices and then tell them he needs to come on the show he probably doesn't even know what a podcast is but he knows the value of every practice and he knows um the financing he knows all that details so go so you said he's the he's the he's the founder of acco is that is that what you said apko stands for alan f thornberg oh got it okay well that makes sense I’ve spoken to their broker a few times about a few practices and i think they're a dual representation um type of uh type of deal with them and i so do represent representation alan allen's all into this and no one else is but um it's um he's like I’m not gonna have lawyers fight over this deal um we're gonna do both sides because we're just gonna get the deal done so it's very advantageous if you're looking for speed um where is the thornburg and um but anyway um but yeah um so there he is um so yeah it's um you know no lawyers gonna tell you to share a lawyer with your opposing team uh but um yeah he's in roswell georgia and yeah that's not far yeah and um he's the man so go in there and say that howard franca and you want to talk to alan f thornberg even though atlanta thornberger's daughter um tim wildung is a regional director out here but uh again you're a social animal and you and young kids they try to grow their practice by instagram and facebook instead of joining the kiwanis to rotary going to the school meeting every time the mayor of phoenix would come out here in our area and hold his meeting or whatever i didn't want to go i mean it was the last place but I’d go there and you know listen to you know and even when the mayor would say okay we've heard enough complaints about people speeding down your street and but you learned a lot of things about human psychology like i learned that having an undercover police officer car is horrible because probably only one percent of the people are murders and killers and need to be caught but the other 99 percent i haven't seen a phoenix police car drive down my street in in a year and he's like explaining yeah we're making them undercover well i mean it's kind of like socialized medicine since 99 of canadians will not spend the night in a hospital this year well hell yes they say it's perfect but go talk to the one percent that did and the media is never going to cover that so you know that that's insurance 99 never go to the hospital so when you're running a town when phoenix is 99 non-criminal and all your police cars are undercover nobody thinks you have a police car in town so um so just get out there and press the flesh and I’d rather you just understand sapien than geometry and calculus and trig you know i mean I’m so old that when i learned thermodynamics there were only three laws now there's four and I’d rather you go meet alan than me understand the new zeroth uh thermodynamic principle so get out there and pretend you're running for mayor and press the flash and go have lunch with alan absolutely for sure all right buddy thank you so much for coming on the show and keeping it real um by um being closer to the students thank you so much appreciate it thank you for having me 
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