Ep. 265 Listen to this Before Investing in Florida Condos!

John Cadden from Condominium Advisory Group joins us today to discuss big changes that have occurred in the Florida condominium arena. The collapse of the Surfside condo 2 years ago led to significant rule changes. Find out what they are, along with a bevy of other changes that are affecting go-no-go decisions for investing in Florida condos.

 

 

Key Discussion Points

[01:11] Introduction by Eric & Steven

[05:22] About our guest: John Cadden

[07:23] Is there a lot of density of investors in the Condo market?

[11:50] What should Condo investors look out for that might trip them up?

[15:16] What is a condo conversion?

[20:01] Given that Florida insurance rates are sky high, how is this affecting investors?

[21:55] So condo investors might not be holding their assets for appreciation if prices start to slow down

[26:40] Condo reserve and structural reporting

[33:59] Talk about the affect of the new rule passed in March by the Federal Legislature

[42:13] Discussion about Florida insurance increases

[45:42] Discussion about condo board members having liability

[50:40] How can your business help others?

[52:02] How can folks reach you?

[53:06] Closing comments by Eric & Steven

 

 

About Our Guest

Today we have with us John Cadden. John is the managing principal of the Condominium Advisory Group. After graduating from Boston University with a bachelor's degree in accounting in 1984, John joined Continental's equipment leasing division in the workout group. Later on, he took a position at the Commercial Real Estate Banker with the Friedman Group in Chicago. In 1988, John formed Century Funding Corporation to provide commercial real estate banking and real estate investment services to third party real estate developers and investors.

 

After a decade of heading up Century Funding, he joined American Invsco as chief investment officer in