Jul 24, 2023
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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