The first time David Phelps sold his dental practice, he ended up in a legal battle that cost him more than $100,000. Phelps eventually got his practice back and was determined to sell it the right way the second time around.
David Phelps started his dental practice in 1986 and built it for 20 years before his daughter was diagnosed with Leukemia. Fighting for his child’s life, Phelps decided to sell his practice in a hurry.
He agreed to provide financing to the new owner to buy the practice, which would end up being a decision he would come to regret.