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Top Articles - Big Money In Condo Conversions
Condo conversions have big profit potential, and it is also a potentially creative process. Just be ready for a few unexpected problems.
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
It had to happen. We were living in Tucson for just a short time when I noticed how cheap rent was in relation to home prices. There w
; 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
ere $200,000 homes all over that rented out for $650. Investing in rental homes was obviously a losing game.
Condos were priced more re
Condos were priced more re
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
asonably, many 2-bedroom ones around $100,000 or less. This was nice for the buyer-occupant, when compared to houses. It was also nice f
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
or a renter. These units rented for just $500 or so. Obviously, there was no money here for an investor either. At least not if they wer
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
e bought as rental units.
Hmm. Low rent, but high housing prices. Where could the opportunity be? Converting apartment buildings into c
Hmm. Low rent, but high housing prices. Where could the opportunity be? Converting apartment buildings into c
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
ondominiums. By the time we moved 18 months later there were condo-conversions going on all over.
The logic is simple. Apartment buildi
The logic is simple. Apartment buildi
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
ng were selling based on income. With rents so low, the buildings couldn't be sold for much. The rental income might justify just $60,00
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
0 per unit for a building full of 2-bedroom units. Anything higher and a buyer would be losing money every month. Since investors don't
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
like to lose money, prices were held down.
You might find a 40 unit apartment building for two million dollars. Spend $400,000 converti
You might find a 40 unit apartment building for two million dollars. Spend $400,000 converti
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
g it into condominiums, and keep your other costs to $400,000, and you would have just 2.8 million dollars into 40 condo units. That's $
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
70,000 per unit If you could sell them for $95,000 each, you would make around a million dollars by the time the project was done and so
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
ld.
I didn't follow the sales closely enough to know if these numbers are close to what was going on, but there were suddenly a lot of
I didn't follow the sales closely enough to know if these numbers are close to what was going on, but there were suddenly a lot of
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
investors interested in doing this. I assume they were making some good money. The process takes a while of course, and there are many c
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
omplications, from permitting issues to building codes that have changed.
As with most real estate investments where you buy and then s
As with most real estate investments where you buy and then s
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
ell something, you should start at the end and go backwards in your calculating. In other words, you first determine what the end produc
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
t will sell for, and the subtract every conceivable expense, as well as the profit you deserve, to arrive at the highest price you can p
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ay. You may be able to buy it for much less, of course, but this way you know how high you can safely go.
Condo conversions are big dea
Condo conversions are big dea
.
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
ls, and are best done after a lot of experience. If you ever consider doing this, try to first work (as a partner, or the sales agent pe
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
rhaps?) with someone who has done them before. Only after seeing the entire process close-up should you try a deal like this on your own
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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