Florida Condo Association Financial Cliff Seminar For VIP Investors Set For Dec. 3
The four-hour seminar for VIP investors will be hosted by Miami condo expert Peter Zalewski less than 30 days before the 2025 deadline takes effect.
In times of uncertainty, opportunities arise for investors who have the foresight, confidence and bankroll to capitalize on chaotic situations.
Florida’s rapidly approaching 2025 Condo Association Financial Cliff has the potential to be one of these such opportunities.
It is against this backdrop that expert speaker Peter Zalewski - who is a former journalist, a Wall Street consultant, an expert witness and a licensed real estate broker - will provide valuable insights and strategies to capitalize on this impending crisis at the private seminar entitled “An Investor's Guide To 2025 Florida Condo Association Financial Cliff.”
Seating is limited to six individuals for the four-hour event that starts at 1 pm EST on Tuesday, Dec. 3, 2024, in Greater Downtown Miami.
In the wake of the Surfside condo collapse, the safety of a condo tower coupled with the ability to pay for preventative maintenance is increasingly important for Florida’s nearly 28,250 condo associations with more than 1.2 million units.
For context, the tricounty South Florida region of Miami-Dade, Broward and Palm Beach have nearly 13,000 condo associations and about 610,000 units, according to a recent report.
This is the dilemma that condo owners, buyers and board members are facing less than 90 days from the start of Florida’s 2025 Condo Association Financial Cliff.
In the aftermath of the June 24, 2021, collapse of the Champlain Towers South in the town of Surfside on the barrier island of Miami-Dade County, everyone from residents to building inspectors, politicians to bankers understand better than ever the importance of ensuring that no Florida condo building ever collapses again.
Nearly 100 people died and a $1 billion settlement was reached with the families of the victims.
A federal investigation is currently underway but the preliminary reports suggest a flawed design coupled with a lack of upkeep by the condominium’s association contributed to the disaster.
The Florida Legislature has taken a number of steps - prompted by insurance companies threatening to withdraw coverage in the state - to ensure that nothing like this ever happens again.
Up until now, the state’s measures were being implemented slowly but that all changes in 2025 when many of the measures take effect.
Beginning in January, condo associations in Florida will be required to start collecting money from unit owners to place into reserve accounts that will be used exclusively to fix, maintain and improve the structural integrity of residential buildings that are at least three-stories tall.
People are dubbing this moment as the 2025 Florida Condo Association Financial Cliff as it is expected to result in significantly higher costs for unit owners. News reports are already chronicling condo owners selling their units at deep discounts ahead of the 2025 deadline.
It is a lot of information but we are confident our reports will assist you to better understand current market conditions in South Florida.
It is worth noting that we are sharing a portion of our research for free with subscribers to our newsletter and readers of CondoVultures.com.
If you want access to all of our published information and charts, we would encourage you to join the newly launched Miami Condo Market Investing Club™.
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The Club is ideally suited for Do-It-Yourself (DIY) condo buyers who can rely on our latest statistics, expert opinions and access to consulting services.
Additionally, we encourage you to listen or view our podcast wherever you get podcasts. The podcast is available on Apple, Spotify and/or YouTube.
As a reminder, we are always available for consulting, expert witness work and buyside brokerage services just as we have been since 2006.
If you are seeking information on condo resales in South Florida, please visit CondoVulturesRealty.com or call the office at 305.865.5859.
This information is believed to be accurate and complete but cannot be guaranteed or warranted.
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