Navigating Healthcare Real Estate: Insights from Colin Carr
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Navigating Healthcare Real Estate: Insights from Colin Carr
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About this listen
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Summary
In this episode of Hey Docs!, Jill Allen welcomes back Colin Carr, a seasoned expert in healthcare real estate. Colin shares his journey from a generalist in commercial real estate to specializing in healthcare, driven by the realization that many doctors lack proper representation in real estate transactions. He discusses the evolution of his company, which now operates nationally, representing thousands of healthcare providers. The conversation delves into the current state of the commercial real estate market, highlighting the competitive landscape, especially in healthcare, and the importance of understanding lease agreements and ownership options for healthcare professionals. The episode concludes with practical advice for healthcare professionals considering their real estate options, underscoring the need for expert guidance in a complex and evolving market.
Connect With Our Guest
CARR - https://carr.us/
Takeaways
- You can always refinance.
- You have to play the hand you're dealt.
- The number one mistake is trying to do it yourself.
- You need options to have leverage.
- 90% of the time, the lease rate is higher than the landlord would charge a new tenant.
- You can't time the market perfectly.
- The landlord's motivation changes if they know you're willing to move.
- You should always submit the offer, not vice versa.
- Most doctors are off by several months on their lease expiration dates.
- You need to start your lease renewal process at least 12 months in advance.
Chapters
00:00 Introduction to Colin and CARR
06:53 The Current Commercial Real Estate Market
12:18 Leasing vs. Owning: Making the Right Choice
23:49 Common Mistakes in Lease Negotiations
26:23 The Pitfalls of DIY Negotiations
27:50 Leveraging Options for Better Lease Terms
29:17 Common Mistakes in Lease Renewals
30:43 The Value of a Commercial Broker
37:49 Timing and Strategy for Lease Renewals
40:26 Negotiating with Landlords: Key Insights
44:22 Final Tips and Contact Information
Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero
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