Thomas Allen @AtxThomas
I’m an entrepreneur who bootstrapped two multi-million dollar producing brokerages from scratch. Practice Real Estate Group and Practice Transitions Group. linktr.ee/ThePracticeCom… Austin, TX Joined May 2020-
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Is there a better feeling as a service provider than winning a good solid listing over a competitor or two? Just won a great DSO affiliation assignment from a seller that had made a spreadsheet of 5 different M&A advisors he and his wife had met with to decide who would take…
I'm at the Austin airport right now. No wonder the housing market is down. Everyone is spending their down payment money on flights and double inflated beers. It is insane how busy the airport is.
The NAR lawsuit had me thinking about our practice sales arm and fee arrangements. We price and quote our fees based on a few factors involving the seller and the practice. The best way to get the best deal on our fee from us as a seller? Have clean books, practice…
Interesting Seller/Prospect Feedback on the Practice M&A Side of the business: Prospect: We are meeting in person with you because you have said a few things differently than the competitors of yours that we have been speaking with. Me: Interesting. What is that? Prospect:…
Anyone ever been visited by the Costar police? In late 2014 it was just me and my first 3 employees crammed in to a small office in Austin. I was paying for all of us to have a Costar seat. On a random Tuesday afternoon there was a knock on the door and 2 Costar reps were…
How long does it take to start a medical/dental/vet practice from scratch? Let’s assume it’s a standard 2,000 to 5,000 SF one to three doctor practice. The market shift over the last 10 years to the demanding consumer(patient) has caused practices to need to be where the people…
My prediction on the medspa/aesthetic roll up space: There will be an initial roll up and then the buyers will expand with denovo locations around the existing roll ups. I don't see mass roll up for many years that we have seen in other healthcare verticals. We have 19…
How many transactions of small businesses to PE do you think one advisor can handle in a year? Assuming they have great underwriting and CIM production support. How many transactions can a single investment sales broker handle in a year? Also assuming they have great…
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Every company’s Slack needs a “wins” channel. Everyone invited to share when good stuff happens. It’s like steroids for culture.
The older I get, the more I happily pay top dollar to the best service providers for help.
Why do so many people watch the NCAA tourney? Seems like a waste of time unless your alma mater is in it, and even then it appears a lot of players are on their 2nd or 3rd college team. What am I missing?
1) The eclipse will pass directly over my back yard. 2) I don’t care one bit.
Health insurance: “you have to pay a little bit and then we’ll take care of the rest in the event of an emergency.” Dental insurance: “we’re sorry to hear you broke 8 teeth in an accident, the best I can do is $1,500 for the whole year.”
Huberman a reminder of two eternal truths: 1. Most men placed in positions of “spiritual” authority will be tempted to use that power to have s*x w many women, & 2. (In part, for this reason) If you make any man into an idol, you are very likely to be disappointed
A CEO peer group meeting is often worth the money to hear other people have problems bigger than mine. Always puts everything in perspective. And I leave feeling better every time.
In my 20’s I had a friend—I’ll call him John—who was absurdly good looking. How good looking? One time he was chilling on a beach in LA and a TV producer randomly approached him. A few months later he was a contestant on Survivor. John’s looks opened all sorts of doors but he…
Imagine this: 1. You "finish" up work for the day at 7pm. 2. Then you get an urgent call at 9pm and have to go into the office. 3. You put your kids to bed and say goodbye to your spouse. 4. There's another major issue you need to fix at your business. 5. You work until 2am…
If you provide professional services to family members you need to charge 1.5x your normal rate. They naturally have more access to your time and headspace and if you discount the work it will hurt the relationship.
One of my favorite stories I like to tell my kids when taking about money: Early in our marriage while my husband was finishing his degree we ran into a road block. We had scrimped and saved and had every penny saved for the next semester. Half way through, a balance…
People w/o investment expertise will literally drop $15k on an acq fee, but won't spend $1k to get an independent opinion on the investment Blows my mind every, single, time.
Without non-competes for business sales, the business buying and selling marketplace would collapse. Buyers won't invest millions if sellers can legally move across the street and take their customers, employees, and suppliers. This would be very bad for the American economy.
@SMB_Attorney Non competes are unamerican and unconstitutional!! 🇺🇸🇺🇸🇺🇸
Referrals from commercial brokers: “pay whatever you feel is appropriate” Referrals from residential agents: “give me your first born or no deal”
The amount of distress in real estate right now is a little scary I’m not talking real estate values I’m talking those who depend on sale transactions; -agents -loan officers -bankers -escrow -attorneys
@CRELeasingLawTX @AtxThomas @Eli_Albrecht It probably wasn't long. That's the fee they probably racked up from 2 phone calls with 2 senior partners and 10 associates on the line.
Wife: “what happened to all our $?” Me: “had to buy the deal on [street X] all cash, LPs were all being pussies and banks weren’t willing to lend” Wife: “um, when are you going to refi?” Me: “no clue” Wife: “I’m being serious, I don’t like when you joke” Me: “I’m not kidding”
Boom! ... no IPAs in the house. Have to run up to the C-Store
Big closing scheduled for tomorrow, that anxious time when you are just waiting for something to go wrong 😟
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