More can be more

Perth General Practitioner Dr Kiran Puttappa has ended up with 13 practices.

  6 minutes

Perth General Practitioner, Dr Kiran Puttappa is a busy man. As well as being a full-time clinician with patients to take care of, Dr Puttappa owns a growing portfolio of 13 medical practices and six dental surgeries, with 150 staff and counting. Add a young family into the mix and you start to get the idea.

Ask him why he chose general practice, and Dr Puttappa has a surprising answer: “The quality of life.”

With a list of responsibilities that would leave most heads spinning, Dr Puttappa explains he has only been able to achieve a great quality of life by letting go and putting his trust in others.

He trusts his managers to take care of day-to-day business so he can focus on solving larger issues and future planning. He leans on the support of his wife and family during stressful times, and when Dr Puttappa needs help with finance, he turns to BOQ Specialist.

A natural progression

Dr Puttappa first met BOQ Specialist’s Richard Curia in 2009, a few years after moving to Australia from the UK.

Dr Puttappa had recently taken over the Okely Medical Centre in Carine, where he still works today. “I purchased my first medical centre with very little funding,” he says.

“Shortly after that, one of my friends introduced me to Richard. Ever since then, he has been a trusted partner.

"He’s the person I call when I’m looking for finance for any of my medical centre projects. BOQ Specialist also helped finance my home in 2014.”

As Okely thrived, more opportunities arose and the expansion continued.

“I then purchased a second medical centre, the second became the third and the third became the fourth. Now I have 13 medical centres,” Dr Puttappa says.

Surprisingly, Dr Puttappa never set out to invest so heavily in medical centres.

“After I set up the first medical centre, I never dreamt of doing a second one—it just happened,” he says.

“So far so good. Now I’ve got about 55 doctors working for me and around 150 employees.”

SMSF lending

Despite humble beginnings, Dr Puttappa is now well-versed in the many lending products available to medical entrepreneurs like him.

Last year, Dr Puttappa approached BOQ Specialist for assistance in refinancing three of his commercial premises into his self-managed super fund (SMSF).

SMSF lending can allow people to invest in assets they may not otherwise be able to purchase, and BOQ Specialist can lend to SMSFs that are borrowing to purchase owner-occupied premises (up to 90 per cent loan-to-value ratio).

Due to its complexity, SMSF lending is a specialised area that very few lenders are involved in.

Given BOQ Specialist’s experience in this field, Richard was able to secure the loan for Dr Puttappa.

“I financed three of my commercial premises into my SMSF, including properties in Ellenbrook and a super clinic in Kalamunda which has a pharmacy, medical centre and dental surgery,” Dr Puttappa says.

“We are now in the process of getting funding approved for another big project. Richard and BOQ Specialist are supporting me with that project as well.”

A valuable partnership

Dr Puttappa says without the support of BOQ Specialist, he would not have been able to achieve such substantial growth.

“Dealing with BOQ Specialist is easy because they have made the effort to get to know me and build a working relationship over many years,” he says.

“They shared my vision. Without them, I would not have been able to do this.”

Dr Puttappa says he keeps going back to BOQ Specialist because it feels more like a partnership than a transaction.

“There are far fewer headaches than with other lenders,” he says.

“Richard knows my business and knows how I operate. If you go to a new bank, you have to start from the beginning. As long as BOQ Specialist looks after me, I’ll be sticking with them—and that’s exactly what they’re doing."

According to BOQ Specialist's Richard Curia, the feeling is mutual. Richard says he is continually impressed by Dr Puttappa’s astuteness and professional attitude to his business ventures.

“Every time Kiran comes to us with a plan, it’s obvious he has a really clear vision and a strong drive to achieve it.

“We simply provide him with the financial tools to accomplish it.” 

Thinking about purchasing a new home? Click on the link to find out more about our tailored financial solutions for buying a property. Or ready to take the next step? Contact us to find out how we can tailor a practice finance solution for you, or call us on 1300 160 160.