Cover Your Asset

09/02/2024

Florida’s condo inventory is at an all-time high. Ultimately, Senate Bill 4D, which was approved by Governor DeSantis in May of 2022, will make Florida the safest state to purchase and own a condo in. But for now, as trailblazers, Floridians are literally paying the price for America’s lack of regulation in an industry that has needed it since the inception of condos in the early 60’s....

Florida’s condo inventory is at an all-time high.  Ultimately, Senate Bill 4D, which was approved by Governor DeSantis in May of 2022, will make Florida the safest state to purchase and own a …

08/28/2024

With or without legislation, like what we are watching unfold in Florida right now, America needs to beware! Condos are aging!! These are buildings that require major work after 30-40 years of age. Knowing American condos started in 1960 and 50% of all condos were built 30 years ago, we need to be aware!

An appraisal and inspection of a condo does not provide the same information that is provided when you purchase a single-family home, therefore you don’t know the real value of a condo from these traditional inspection reports.

Buyer beware!

With or without legislation, like what we are watching unfold in Florida right now, America needs to beware! Condos are aging!! These are buildings that re...

08/28/2024

🌊 Are You Buying a Condo Near the Coast in Florida? Watch Out for This! 🚧

🌊 Are You Buying a Condo Near the Coast? Watch Out for This! 🚧Hashtags:

08/21/2024

Florida Senate Bill 4D is just months away from the first deadline and many condo HOAs have not complied with the requirements, which means new buyers will be stuck with the "BILL" once they do.

08/19/2024

When you purchase a condo, you are also purchasing a business, the HOA. That includes accepting responsibility for everything the HOA is responsible for, once you become an owner under that HOA.

Would you purchase any other business without performing thorough due diligence on the business structure, financials, assets and liabilities?

Management companies and realtors are not permitted to act as fiduciary in most cases. It is up to you to compile this information, understand it and make an educated decision that will protect you and your family. Which is extremely important with aging buildings and underfunded reserves.

Until America fills the "missing fiduciary" gap, like you will find in parts of Canada and even Malaysia, make sure you understand every detail. If you don't, it might be worth hiring an attorney to help with that part of the purchase process.

We are here to offer as much education as possible, including AI that will read the document package and provide a report, highlighting areas worth paying special attention to.

08/18/2024

There are only 136 days left for certain condos within 3 miles of a coastline, throughout Florida, to have completed their reserve studies and structural inspections. Per the legislation Governor DeSantis adopted in May 2022, SB-4D, HOAs will also need to take care of any structural issues and fully fund the reserves.

Statistics show that fewer than 25% of all buyers who purchase a home or condo in an HOA review the documents, and fewer than 10% go through them in detail and understand what they are looking at prior to signing documents.

With no fiduciary protecting condo buyers in America, we need to point out as many tips as possible. Here are a few for Florida condo buyers, but useful for anyone else purchasing a condo as well.

There are only 136 days left for certain condos within 3 miles of a coastline, throughout Florida, to have completed their reserve studies and structural inspections. Per the legislation Governor D…

08/18/2024

There are only 136 days left for certain condos within 3 miles of a coastline, throughout Florida, to have completed their reserve studies and structural inspections. Per the legislation Governor DeSantis adopted in May 2022, SB-4D, HOAs will also need to take care of any structural issues and fully fund the reserves. The Reserve Study is an analysis that will tell you exactly how much is needed to fund those reserves....

There are only 136 days left for certain condos within 3 miles of a coastline, throughout Florida, to have completed their reserve studies and structural inspections. Per the legislation Governor …

08/12/2024

I have personally been shopping condos along the coast and am finding many of these HOAs have not done the work, which is why many are selling, because they can’t afford to get stuck with the large assessment that could come with this funding requirement.

THE NEW FLORIDA DEADLINES ARE RIGHT AROUND THE CORNER YOU MUST ASK THESE QUESTIONS BEFORE PURCHASING!! Because of the legislation adopted after the devasting collapse in Surfside 3 years ago (SB-4D…

06/19/2024

🏢 Are you a condo owner? 🏢 Did you know that 70-80% of condo buildings in America are not fully funded for necessary repairs and replacements? 😱 In this video, we discuss the importance of reserve studies and budgeting for aging buildings. Find out why it's crucial to address structural challenges, plumbing, electrical, and more before it's too late! 💰💡

🏢 Are you a condo owner? 🏢 Did you know that 70-80% of condo buildings in America are not fully funded for necessary repairs and replacements? 😱 In this v...

06/19/2024

United States are watching Florida and the new law that was implemented by Governor in May 2022 after the in June 2021. ...

02/29/2024

Looking at the most current condo news in Colorado this week!

Free reserve studies in Pitkin county!

Not so great news as several HOA’s are being sued for PPP loans.

YOUTUBE: https://youtu.be/uZA9MFLaSeE?si=VgaWgB-SkrqO8ywM
HOAs!!

02/29/2024

Have you done the due diligence on your new business? The HOA

The same as you would any other business you would purchase?

Have you remained an active owner? Or have you decided to let your partners (neighbors) run things for you?