Answers - Real Estate

As I’ve discussed in a previous issue, having a dream team is essential to your success. You can’t do it all yourself and there’s experts

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

out there who are more than willing to help you. It’s especially true when determining the value of a property.

Four more steps to go.

“

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

The 10 steps to buying profitable single family houses. ”

Step 7: Confirm the house’s value.

One of the questions that your answering serv

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ice will ask the seller is, “If we were to have the house appraised today, what would it be worth?”

Most sellers will give you an inflate

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

value. Never, ever believe the number that the seller gives you. It’s not that the seller is intentionally lying, most just don’t know.

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

There will be some sellers who’ll come right out and say, “I don’t know,” and that’s ok.

It’s important to have an idea of the property

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

values of the homes in your farming area. This is another good reason why you want to stay within a 30-mile radius of your home.

You nev

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

er want to get an appraisal on a property that you’re thinking about buying. Most appraisers will charge anywhere from $100-$500 dependin

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

on the size of the house.

Remember, we’re talking about “No Money Down.”

An appraiser will use the same information that a real estate 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

gent would use in determining market value. That’s why you need a good real estate agent on your dream team.

I never purchase or list wit

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

h a real estate agent when buying or selling a house, but they can be a very valuable tool in determining value. A good agent will perfor

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

m this service at no charge. Value is determine by appraisers and real estate agents by searching similar properties that have sold in t

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

e neighborhood within that last 6-12 months.

Once you become more and more familiar with properties in your farming area, the easier it w

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ill be to determine value on your own.

Another way of getting a pretty close estimate of value is to visit the county assessor’s office.

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

They periodically evaluate all properties in their county to determine assessed tax values. Simply ask anyone in the office to show you h

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

ow to search for market values on the computer.

The assessor will have two values listed for each property, the assesed value and the mar

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

et value. Alway go by the market value.

The listed market value is typically less than the actual value, so I usually add about 30-40%.

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

You’ll find that you can get pretty close by doing this. On larger properties and those in areas that you’re unfamiliar, Always ask a re

.

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

al estate agent for help.

Knowing the approximate value will save you from any heartache when it comes time to sell. Don’t worry, if you

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

get it wrong, there’s ways of recouping your costs. It’s never been a real issue with any of my properties.

Talk to you soon.

Toby Lyn

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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Answers - Step SEVEN of Buying Profitable Single Family Houses

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