Top Adding - Real Estate

When was the last time you, your Property Manager or management company inspected your investment property? Do you know? If not, you should conduct an inspection as soon as possible.

I met an Investor who had not inspected his investment property in six (6)

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

months. The tenants left without a final inspection. The final inspection uncovered substantial water damage from toilet. Black mold was growing on the ceiling and the walls. The doors to the dyer, refrigerator and freezer were in the backyard.

The damag

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

Examples of combination products may in

es were $17,000 and it was almost three (3) months before the property was restored. The Investor could have avoided the damages by conducting quarterly inspections.

Approach every investment like a business. Would you wait months or years to inspect your r

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

cords and bills? Of course not, so why would you not conduct quarterly inspections on your investment property?

Many new clients say, “I don’t have time to conduct inspections.” A way to save time and money is to hire a Property Manager or management comp

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

any to manage the property and conduct quarterly inspections. Property Managers and management companies charge a monthly fee. A major repair could be

significantly higher than the yearly management fees.

Still not convinced you should inspect your propert

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

Combination pro

at least once a quarter? I heard about an Investor who was sued because a tenant cut her hand on a rusty porch railing. The Investor lost and settled for almost $45,000 for the cost of hospital bills and damages.

Another Investor had a build up of human

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

feces in the toilets and bathtubs and on the walls. She had to replace all of the toilets and bathtubs. It took several hours and three (3) coats of paint to repair the walls.

Include a clause for repairs and/or damages with a deductible amount. If the rep

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

ir is $200 and the deductible is $100, then your cost is $100. A home warranty may lower your out of pocket costs. The repair deductible should help reduce the amount of repairs and/or damages reported. Demonstrate that you value your property, as should yo

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

ur tenants.

When you conduct the inspection, ask yourself, “would I live here if items needed to be repaired or replaced?” If the answer is “NO,” then make the repairs to show your tenants that you value them and your property.

The following are suggested

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

of areas and items to inspect. Consult professionals who are legally qualified to provide you with the appropriate information or to complete repairs.

• Plumbing – Flush all toilets to check if they flush and fill. Inspect under the sink for any leaks. Do

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

the sinks drain at a normal or slow pace? A slow draining sink is a possible sign of a clog or drain build up.

• HVAC – Check the filter. Manufactures suggest changing the filters every three (3) to four (4) months.

• Appliances – Inspect for missing knob

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

Following aspects would a

s. Light all of the burners and oven to check for outages.

• Paint – There should be no signs of peeling paint inside or outside. Check the railings, along with the front and back door for any rust.

• Drywall – Inspect for holes, cracks or structural defec

dd to the challenges in developing combination products:

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

s.

• Carpet – There should be no pulls or tears in the carpet. Check for any cigarette or other burns in the carpet. If you detect any snags try repair the snag so it will not cause further damage.

• Doors and Windows – Doors should close all the way. In t

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

he winter doors may shrink and in the summer doors may swell, so adjust accordingly. Windows should have no cracks or broken panes and have a screen for each window.

• Blinds – Check for broken blinds, chords or blinds that may have fallen.

• Home Exterior

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

Inspect the gutters for any signs of damage. The gutters should be affixed to the home properly and should not have any leaves or debris present.

• Fire Safety Items – Test the fire alarms. Batteries should be changed at least once a year. Inspect sprinkl

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

er heads for damage. Have a minimum of one fire extinguisher per floor. Check for lint build up in the dryer.

• Power Outlets – Inspect outlets for any loose wires for missing cover plates. Inspect the main circuit breaker for any damage.

Gutters, windows

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

Professional from academic institutions, pharmaceutical industries, health care indust

and plumbing are areas that can cause a lot of damage if there is little or no upkeep. Water can also cause a lot of damage because it is almost impossible to predict where water will travel.

Conducting quarterly inspections will identify any possible issues

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

before it costs you a lot time and money. If you do not have the time, hire a Property Manager or management company for your real estate investment team (REIT).

For more information on hiring a Property Manager, assistance with setting up a real estate inv

.

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

stment team (REIT), mortgage planning options contact Jennifer Johnson, your trusted real estate investment advisor.

Copyright© 2007 by Jennifer Johnson. Others may not copy this material without written permission of Jennifer Johnson. The views expressed i

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

Companies that provide selfless information through particip

n this RE News are those of the author(s) and do not necessarily reflect the official policy, position, or opinions of RE/MAX or RE/MAX Gateway. If you arecurrently working with a Realtor® to sell or purchase real estate this is not intended as a solicitation

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.topadding.org.ua/article/139771/topadding-No-Time-to-Inspect-Your-Investment-Property-Think-Again.html">No Time to Inspect Your Investment Property? Think Again</a>

BB link (for phorums):
[url=http://www.topadding.org.ua/article/139771/topadding-No-Time-to-Inspect-Your-Investment-Property-Think-Again.html]No Time to Inspect Your Investment Property? Think Again[/url]

Everybody who owns a website dreams about getting tons of traffic directed to it. But getting your site noticed out of literally millions of sites can be a pretty tedious task sometimes...

You’ve been thinking that your financial life could probably be better, right? Maybe you think, “If I could just stick to a budget everything will be fine…”, or how about “When I get that next raise or promotion, I’ll have enough money to pay off my debts and save some money…” You may even be thinking,“I can do this on my own!” I hear these comments and more on a regular basis. I usually say, “Great! Can you think of any reasons your financial life isn’t perfect right now?”

Tags

Links

Top Adding - No Time to Inspect Your Investment Property? Think Again

Related Articles: