Welcome to the Hey Docs! Podcast with your host, Jill Allen.  

Today, I am thrilled to have Stephen Strecker from Tower Realty Partners on for an episode. Stephen will share insights into the process of working with a commercial real estate broker, the impact of space size on costs, and the pitfalls of taking on too much or too little space. He'll also provide his top tips for those starting their real estate journey. This episode is full of gold nuggets of wisdom.  

Let’s get into it! 

Summary
 
In this conversation, Jill interviews Stephen, a commercial real estate broker, about the process of finding and leasing real estate for medical practices. They discuss the importance of understanding your long-term goals and vision for your practice, negotiating lease terms, and the challenges of finding suitable spaces in the current market. They also touch on key lease terms such as tenant improvement allowance, free rent, and triple nets. Stephen emphasizes the need for patience, asking questions, and building a team of experts to navigate the real estate process. 

https://towerbrokers.org/home
https://towerbrokers.org/evaluation
https://www.instagram.com/towerbrokers/
https://www.facebook.com/towerBrokers
http://www.linkedin.com/company/tower-realty-partners/
 
Takeaways

• Understand your long-term goals and vision for your practice before starting the real estate process.
• Negotiate lease terms such as tenant improvement allowance, free rent, and triple nets to fit your budget and needs.
• Be patient and prepared for the process to take time, and work with a team of experts who can guide you.
• Consider the size of the space, location, and cost in relation to your practice's needs and budget.
• Be creative and flexible in finding solutions, such as taking a smaller space with potential for expansion in the future.

Chapters
 
00:00 Introduction and Background
 03:10 Starting with the End in Mind
07:49 Challenges in Finding Suitable Spaces
13:09 Key Lease Terms and Negotiation Strategies
18:01 Considerations for Space Size and Build-Out
21:26 Understanding Lease Terminology
25:10 The Role of Banks and Financing
29:01 Advice for Starting the Real Estate Process
34:01 Conclusion and Contact Information 

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Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- www.practiceresults.com.    
 
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New episodes drop every Thursday!   
 
Episode Credits:
 
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero