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Advice Pool - A Log Home Story
Solving problems while maximizing values
This story has a few good lessons and observations that no doubt can be used by you to take advantage of hidden opportunities that often lie in plain view for all to see, however, most people have not been trained or instructed on how to recognize or find them.
The following true story begins with a classic log home package, engineered, manufactured, approved and delivered for use in Alaska. A friend of mine, i
This story has a few good lessons and observations that no doubt can be used by you to take advantage of hidden opportunities that often lie in plain view for all to see, however, most people have not been trained or instructed on how to recognize or find them.
The following true story begins with a classic log home package, engineered, manufactured, approved and delivered for use in Alaska. A friend of mine, i
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
n 1996, built the home, and I helped him pour the foundation. This leads to our first observation in analyzing this deal: If you know the full history of a property, your confidence and position on the deal can be enhanced.
You can begin to research history and succession of ownership through county records, tax rolls and by contacting previous owners as far back as you possibly can. Optimally you want to end your search by getting to the original owne
You can begin to research history and succession of ownership through county records, tax rolls and by contacting previous owners as far back as you possibly can. Optimally you want to end your search by getting to the original owne
; 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
r and builder of the property.
Now, back to our story. My friend had built this house himself and I knew for a fact that he is an intelligent perfectionist. This gave me the confidence of knowing that this owner-built home was a solid structure through and through, not to mention that when the energy rating, otherwise known as a “blow test,” was conducted the house was so tight (no air leaks) that he had to artificially ventilate it.
At this point, I
Now, back to our story. My friend had built this house himself and I knew for a fact that he is an intelligent perfectionist. This gave me the confidence of knowing that this owner-built home was a solid structure through and through, not to mention that when the energy rating, otherwise known as a “blow test,” was conducted the house was so tight (no air leaks) that he had to artificially ventilate it.
At this point, I
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
had the following information: I know who built it, the quality of construction, it’s energy rating and it’s value based on what my friend had sold it for to the new owners. This brings us to our next phase of the investigation, the current owners.
Now we turn our attention to the current owners who are selling and the history behind them. Originally they paid $159,000, which by some strange coincidence was the asking price. I’m sure if the asking pric
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
e was $160,000, it would have appraised for that but my friend made it appear cheaper by keeping below the higher $160,000 bracket. This is known as a pricing strategy.
Our research on the new owners revealed that they had been relocated from New Jersey and they had one child. The neighbor, who is a home inspector and general contractor, tells me a few more details about the family, their habits and the upgrades, and improvements and modifications tha
Our research on the new owners revealed that they had been relocated from New Jersey and they had one child. The neighbor, who is a home inspector and general contractor, tells me a few more details about the family, their habits and the upgrades, and improvements and modifications tha
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
t have been made to the home. Once again I’m getting good signals that the home is a good one but the owners are a little squirrelly as to their habits and design choices.
Here is where opportunity starts knocking, folks. When you have people who do things that are out of the mainstream of what most people do, you will notice that when it comes time to sell, many buyers are turned off by the non-conformity of the home’s general appearance. Let me expla
Here is where opportunity starts knocking, folks. When you have people who do things that are out of the mainstream of what most people do, you will notice that when it comes time to sell, many buyers are turned off by the non-conformity of the home’s general appearance. Let me expla
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
in.
These people did the following things: first, they installed a spiral staircase and painted it a fuschia purplish-pink. Yuk! This alone was said to have turned off more than one potential buyer. Also, the original paint had pencil and marker lines scribbled here and there, the faucets and caulking needed some repair, the glass in one of the kitchen cabinets was missing, the walls needed new paint and the yard was overgrown. Along with a few other s
These people did the following things: first, they installed a spiral staircase and painted it a fuschia purplish-pink. Yuk! This alone was said to have turned off more than one potential buyer. Also, the original paint had pencil and marker lines scribbled here and there, the faucets and caulking needed some repair, the glass in one of the kitchen cabinets was missing, the walls needed new paint and the yard was overgrown. Along with a few other s
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
mall details, this was all cosmetic but people couldn’t look past it.
Let’s get to the real “nails in this coffin” of lost resale value. The following information deals with choosing a good real estate agent who will properly handle your affairs, if in fact you cannot do them yourself, although you should actively participate. Here is where this agent’s ineptitude will seal these relocated owners’ fate. Let’s set the stage: We are now at 2003; our sell
Let’s get to the real “nails in this coffin” of lost resale value. The following information deals with choosing a good real estate agent who will properly handle your affairs, if in fact you cannot do them yourself, although you should actively participate. Here is where this agent’s ineptitude will seal these relocated owners’ fate. Let’s set the stage: We are now at 2003; our sell
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ers are being transferred and are moving after five years. This is right in keeping with the national average that says that people tend to move every five years. So in conjunction with the move, a relocation company becomes involved. Here comes the red tape!
Our sellers chose a local real estate agent who works half days and delivers newspapers the other half (not too professional). So this agent signs our owners up and proceeds to boggle most everyth
Our sellers chose a local real estate agent who works half days and delivers newspapers the other half (not too professional). So this agent signs our owners up and proceeds to boggle most everyth
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
ing from the day our sellers are transferred out. The agent does nothing to prepare the home to show well and the topper on this one was the agent had left an inflatable monstrosity of what used to be a swimming pool/fun center half-deflated with stagnant water, breeding mosquitoes at the base of the entryway stairs. What a first impression and such an easy fix!
That’s just the beginning because now our agent by some stroke of luck has found someone wi
That’s just the beginning because now our agent by some stroke of luck has found someone wi
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
lling to pay $156,000 for this eyesore, but the agent doesn’t research anything and can’t come up with the proper documentation for the original well and septic approval. Therefore, the relocation company sends out its own engineer to backtrack and he blows the deal clear out of the water because he doesn’t know local protocol and has no original paperwork either. As a result the potential buyers back out and the house sits empty for another six months
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
. Meanwhile, our poor relocated owners back in New Jersey are still paying a mortgage on this while facing percolation tests for a special $10,000 septic tank that isn’t needed.
What we have now is a classic stigmatized home and its value is plummeting, the costs are rising and the agent is plumb worn out with phone calls, septic tank manufacturers, engineers, state regulators, cancelled contracts and the sellers groaning constantly. You name it - thi
What we have now is a classic stigmatized home and its value is plummeting, the costs are rising and the agent is plumb worn out with phone calls, septic tank manufacturers, engineers, state regulators, cancelled contracts and the sellers groaning constantly. You name it - thi
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
s thing is looking pretty bleak.
Enter the white knight, i.e., the educated investor. What a relief - someone who knows what to do! Upon watching this carnival of events unfold for a while, I decided to step in. What finally drove me to act was a call to my office that presented an end game. What I mean by this is a military officer called to ask if I had a place that he could rent for two years. At that moment, I told him that I might and that I would
Enter the white knight, i.e., the educated investor. What a relief - someone who knows what to do! Upon watching this carnival of events unfold for a while, I decided to step in. What finally drove me to act was a call to my office that presented an end game. What I mean by this is a military officer called to ask if I had a place that he could rent for two years. At that moment, I told him that I might and that I would
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
get back to him.
As our friend Paul Harvey says, here is “the rest of the story!” The first thing to do was to inspect the property; repairs were mostly cosmetic. Next, I went and drilled the agent for information and at this point, the agent was giving me every scrap of insider information that could legally be disclosed. I now knew that this property could be had for $137,000. Additionally, I would get a 3.5% commission and the seller would pay the
As our friend Paul Harvey says, here is “the rest of the story!” The first thing to do was to inspect the property; repairs were mostly cosmetic. Next, I went and drilled the agent for information and at this point, the agent was giving me every scrap of insider information that could legally be disclosed. I now knew that this property could be had for $137,000. Additionally, I would get a 3.5% commission and the seller would pay the
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
closing costs! I had a solid two-year tenant lined up and willing to pay $1,350.00 a month and he would pay his own utilities. An appraisal had been done six months earlier on the deal that had fallen through and it pegged the value at $160,000.00.
The only thing left to do was to get the original documentation from the owner- builder that would resolve the septic issue. I called him up (as he lived less than a mile from his old log home) and he said,
The only thing left to do was to get the original documentation from the owner- builder that would resolve the septic issue. I called him up (as he lived less than a mile from his old log home) and he said,
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
“Sure Dan, I have all the paperwork right here…the current agent never asked me for it!” I looked it over and here is what he had: the original design and construction survey, the engineer’s original approval of well and septic, the building department’s approval and the department of environmental conservation’s waiver granting permission to install according to the plans. This completely removed all obstacles to financing and the appraiser agreed. Pr
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
oblem solved in less than two hours!
Now the green light was flashing, so I had the lieutenant sign a two-year lease, give me a check for one and a half month’s rent upfront plus last month and a half month as a security deposit for a total of $4,050.00. I then bought the house! I painted, cleaned, trimmed and tweaked the house in 8 days it is now a beautiful showplace on 1.77 acres worth $27,000 more than I paid for it in less than one month. In addi
Now the green light was flashing, so I had the lieutenant sign a two-year lease, give me a check for one and a half month’s rent upfront plus last month and a half month as a security deposit for a total of $4,050.00. I then bought the house! I painted, cleaned, trimmed and tweaked the house in 8 days it is now a beautiful showplace on 1.77 acres worth $27,000 more than I paid for it in less than one month. In addi
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
tion, there is a positive cash flow of over $300.00 a month above my mortgage and escrow payment obligation.
I would also like to add that the spiral staircase is now painted white and it stands as the most beautiful centerpiece to a home as anyone could ask for! All it needed was a vision, some labor and paint.
Let’s hit the highpoints and drive home some of the lessons from this series of events.
1. Research and obtain as much history on the proper
I would also like to add that the spiral staircase is now painted white and it stands as the most beautiful centerpiece to a home as anyone could ask for! All it needed was a vision, some labor and paint.
Let’s hit the highpoints and drive home some of the lessons from this series of events.
1. Research and obtain as much history on the proper
.
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
ty as you can.
2. Pay attention to the quality of construction and types of materials used.
3. Use comparable sales, costs of construction, recent sales prices, assessments, existing appraisals and take into account the cost to cure existing defects to begin to determine a reasonable value.
4. Look for easily correctable problems that turn other people off and correct them.
5. Pay attention to landscaping and the ability to improve upon its appearan
2. Pay attention to the quality of construction and types of materials used.
3. Use comparable sales, costs of construction, recent sales prices, assessments, existing appraisals and take into account the cost to cure existing defects to begin to determine a reasonable value.
4. Look for easily correctable problems that turn other people off and correct them.
5. Pay attention to landscaping and the ability to improve upon its appearan
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
ce.
6. Analyze the series of events that led up to the sale and the seller’s current position.
7. Have a plan or end game in mind for using the property once you acquire it.
8. Always try to ask less than full asking price and be prepared to walk away if you don’t get the price and terms that you feel justify the purchase.
9. Stay abreast of market conditions and events and be patient; these deals will come your way when you are prepared to see them
6. Analyze the series of events that led up to the sale and the seller’s current position.
7. Have a plan or end game in mind for using the property once you acquire it.
8. Always try to ask less than full asking price and be prepared to walk away if you don’t get the price and terms that you feel justify the purchase.
9. Stay abreast of market conditions and events and be patient; these deals will come your way when you are prepared to see them
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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