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Useful Articles - 4 Simple Tests To Find Good Real Estate Investment Properties
You're driving along the road when you spot it. There in the middle of a shaggy lawn sits a disheveled property. It may need a good coat of paint, or a shutter straightened out, but it's easy to see that with a little work it c
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
ould be a little gem of a property. Best of all, sprouting in the middle of the unkempt grass is a For Sale by Owner sign. It looks like the perfect fixer-upper, but how do you know for sure?
First, consider your reason for bu
First, consider your reason for bu
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ing. If you're looking for a property to 'flip' - to buy low, fix up and sell for a profit - there are a number of things you'll want to take into consideration. If your intent is to buy it as rental property, there's a differe
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
t set of consideration, and if you're looking for a home of your own, there's yet a third. Let's assume, for the sake of this article, that your intent is to flip the property for profit.
Test 1: The Neighborhood Test
Test 1: The Neighborhood Test
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
efore you invest another hour, do yourself a favor and take stock of the surroundings. The old saying in the real estate business that the three factors in selling a home are 'location, location and location'. What is the locat
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
on like? No matter how wonderful the property is, you'll have a difficult time selling it for top price in a bad neighborhood. That doesn't mean that it's a bad property - depending on how low a price you can bargain, you still
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
may be able to make a decent profit from it.
Another consideration in the Neighborhood Test is a bit more subjective, and you'll have a feel for it if you're local and keep an ear to the ground. Is the neighborhood in transi
Another consideration in the Neighborhood Test is a bit more subjective, and you'll have a feel for it if you're local and keep an ear to the ground. Is the neighborhood in transi
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
ion? A neighborhood that is on the cusp of a renewal effort like gentrification can be a great place to invest, as long as the upward momentum continues. An area that is on the outskirts of new development will often benefit fr
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
m that as well. If, on the other hand, the neighborhood shows signs of slipping into a decline, you might want to pass the property by. If you can see that the neighborhood is slipping, so will prospective buyers.
Are there 'a
Are there 'a
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
enities' nearby? Depending on the neighborhood and your prospective market, those amenities might include a neighborhood school with a good reputation, a corner store within walking distance, or a park right down the street. In
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
one Massachusetts city, for example, the value of properties in a formerly depressed neighborhood skyrocketed when a local university announced a commitment to provide full tuition to the
children of neighborhood residents, a
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
nd provided additional incentives to home buyers within several blocks of their campus. Investors who bought just before the announcement realized excellent turnaround on their investment.
Test 2: The Pricing Test
Is t
Test 2: The Pricing Test
Is t
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
e home listed with a Realtor, or is it a FSBO? How realistic is the asking price? Is it in your price range? Can you work out a low or no-money-down financing option? How open to negotiation is the seller? Will you be able to r
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
alize a profit after making needed repairs?
Test 3: The Condition Test
This is one of the most important tests. The property you want to buy doesn't require any extensive, expensive repairs. It should be structurally s
Test 3: The Condition Test
This is one of the most important tests. The property you want to buy doesn't require any extensive, expensive repairs. It should be structurally s
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
und, without any major plumbing or electrical problems. If you're just starting out, you'll want a property with repairs you can manage yourself - repainting, refinishing floors, a little landscaping. If the property requires m
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
re extensive repairs, it will cut into your profit, or eliminate it altogether.
When you view the property, really kick the tires. Look for indicators of hidden problems. Here are a few things to look for:
When you view the property, really kick the tires. Look for indicators of hidden problems. Here are a few things to look for:
- Moistur
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
stains on walls and ceilings could indicate plumbing problems
Little piles of sawdust near corners or woodwork could mean termites.
Separations between floor and wall, especially outer walls which c
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
uld indicate structural problems.
Lift tiles in suspended ceilings to examine the ceilings above for loose plaster, moisture stains and other indications of problems
Test 4: The Title Test
T
Test 4: The Title Test
T
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
e final test is the title test. Be certain that the title to the property is clear, with no liens or attachments that could sour the sale. If there are, and you still want the property, work out a conditional sale, where your p
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
rchase is contingent upon the liens being satisfied.
If the property passes all of the above tests with flying colors, congratulate yourself. You've got yourself an investment property that could turn a pretty profit for you
If the property passes all of the above tests with flying colors, congratulate yourself. You've got yourself an investment property that could turn a pretty profit for you
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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