Rich on Paper, Broke on Tuesday

The New Physician: Today’s Difficult Problem · Sep 1, 2026 · 6m

A commercial property can look healthy on paper and still run out of cash.

In this talk, I walk through a simple example: a $5 million building with $3 million of debt, but late rent, an uncertain lease renewal, roof work, taxes coming due, insurance obligations, and a lender payment due Friday.

The key point is simple: equity is not liquidity.

My first move would be to build a 13-week cash map and update it every week. Track what cash is actually coming in, what absolutely has to go out, and what happens if any payment is delayed.

Then separate expenses into three groups: what keeps the…