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 1999 with a primary role of overseeing acquisition, financing, and ongoing real estate operations of various condominium and mixed use developments. Under his tenure, the company acquired and developed over $2 billion in real estate projects. In 2008, John formed CF Capital Holdings.

Since its inception, they have provided asset advisory management, restructuring, and consultancy services to the condominium development, multifamily rental, and single family for sale housing industries. Such services include determining optimum repositioning of assets that had gone insolvent during the economic downturns, many of which were condominium conversions that had not sold completely.

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Phone: 312-890-3338

Some Reasons Why Florida Property Insurance is Such a Mess

Calvin Roberts is a nationally licensed commercial insurance broker, and the principle of Falcon Insurance Agency of Michigan, a botique insurance brokerage specializing in multifamily, commercial real estates and mergers and acquisitions, pre-acquisition, and insurance guidance. Calvin has been active in the field since he was nineteen years old and built a wealth of knowledge and expertise to the table. He serves real estate investors throughout the united States. Calvin is a trusted resource for creative real estate, risk management, and insurance placement.

Key Discussion Points

[01:10] Introduction by Eric & Steven

[06:11] About our guest: Calvin Roberts

[07:23] Is the rest of the country (outside Florida) also feeling the pain of increased property insurance?

[09:13] Why is Florida’s property insurance so high?

[13:07] Are the attornies and roofing contract companies on contigency basis?

[15:35] What are other states doing that Florida is NOT doing to help mitigate some of the cost to the consumer?

[17:35] What effect did the legislation that was passed have on helping to lower property insurance?

[21:56] Is Florida’s Citizens Insurance helping to plug the gap in the insurance costs?

[24:18] What are some other issues Florida should address to make things better for their citizens

[29:11] What are your thoughts on investors pooling their investment properties?

[33:53] How can people reach you?

[34:17] Final thoughts from Calvin

[37:26] Closing comments by Eric & Steven

About our Guest

Ep. 264 Calvin Roberts: Some Reasons Why Florida Property Insurance is Such a Mess Calvin Roberts is a nationally licensed commercial insurance broker, and the principle of Falcon Insurance Agency of Michigan, a botique insurance brokerage specializing in multifamily, commercial real estates and mergers and acquisitions, pre-acquisition, and insurance guidance.

Calvin has been active in the field since he was nineteen years old and built a wealth of knowledge and expertise to the table. He serves real estate investors throughout the united States. Calvin is a trusted resource for creative real estate, risk management, and insurance placement.