Answers - Real Estate

Location Location Location

The location of your buy to let property is one of the most important variables you need to consider when looking for your first investment property.

Getti

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

ng the location right will mean a steady flow of good rent paying tenants.

However, if you make a mistake with the location you could be faced with long voids, damaged properties, and

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

Examples of combination products may in

disruptive and possibly even dangerous tenants.

One of the first things you need to do before buying your property is to gauge whether there is a market for your choice of property in

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

your location. NEVER buy in an area where there is little or no perceived demand.

Whether you are investing in HMOs (Houses in Multiple Occupation) or single family properties, I fin

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

d that if your location is good, you will always exceed your expectations when it comes to finding good reliable tenants.

In the past 10 years, I have found that the market for sharer

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

Combination pro

has increased significantly especially in sought-after cities with good work opportunities and transport links.

I find the following types of people wishing to share with others:

•

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

tudents
• Nurses
• Doctors
• IT contractors
• Shop workers
• Airport workers
• Newly qualified graduates
• Asylum Seekers
• Housing Benefit tena

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

nts
• Recently divorced tenants
• Foreign (non-uk) citizens
• Etc.

I get several calls a day from the above types of potential tenant looking for individual r

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

oms to let in a property. The same is true for young families who cannot yet afford to buy their first home and are looking to rent smaller 2 to 3 bedroom houses.

So how can you guar

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

ntee that you will easily let your property once you have completed on the purchase?

Advertise

If I am unfamiliar with the location of my anticipated purchase, I will normally place

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

n advert in the local paper advertising for my particular tenant type. For example, if I am looking for professional sharers, I will state so. Conversely, if I am looking for a famil

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

Following aspects would a

y, I will indicate this in my advert.

I normally place adverts for a minimum of 4 weeks. If I receive just a couple of calls in the 4 weeks, I will most likely not invest in that are

dd to the challenges in developing combination products:

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

. However, if I receive 10s of calls for my proposed property, there is a greater chance of me buying in that location.

When answering calls from tenants, I will always ask them ques

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

ions to help me complete my market research. For example, I will ask them specifically what they are looking for. Which particular areas and streets are they interested in and why?

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

What size of house would they prefer to live in? In the case of sharers, how many people are they happy to share with etc?

Getting these types of questions answered by my potential t

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

nants is valuable in my search for the ideal property in the ideal location.

If I am looking specifically for a student tenant, I will visit the local university and not rely purely o

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

Professional from academic institutions, pharmaceutical industries, health care indust

advertising.

I will:

• Visit the University Accommodation Office and ask them what the best locations for student properties are. Always buy in these locations even if they are mor

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

e expensive than others further down the road.

The university is very knowledgeable on their local areas and if they don’t like any particular location, be sure that every single stud

.

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

nt on campus will know about it!

• Try not to buy my student property in a location greater than a 20 minute walk from campus.

Students have become lazier and more demanding over the

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

Companies that provide selfless information through particip

years. They prefer to hop out of bed at 8.55am for a 9am lecture.

For much more detailed and valuable information, you may subscribe to my FREE Property Investment Course by visiting

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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