✝️ Grateful and blessed, servant of God 🙏🏼 💼 Managing Director of No-Limit Luxury Management & Consulting for luxury condominiums & HOAs
Miami, FL
Joined June 2012
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A very real and practical discussion led by Jacob @SLCPaladin - Florida has passed painful yet important legislation requiring Associations to fully fund structural reserves.
Still, many challenges remain and luxury condos and HOAs are far from immune.
I had our annual HOA meeting last night. I'm the president. It's a thankless job. Here's the thing: the previous board was fiscally irresponsible. For a decade they underfunded the reserves. We are about $1.1M underfunded. Utah law allows this idiocy to happen because
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I really thought the Kermit the Frog Commencement Speaker stupidity was going to be the dumbest thing my @UofMaryland ever did.
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So excited for this “Dawn” of a new chapter for @CAIsocial 👏🏼👏🏼👏🏼 @dawnbauman
Welcome in a new era at CAI: @dawnbauman begins her role as CEO. Her vision is clear: CAI will become the most trusted, forward-thinking leader in Community Association, management, governance, and homeowner engagement.
Let's goooooooo! #WeAreCAI
Such an amazing conference to meet @ByronDonalds in person, to talk about how to continue to keep Florida The Most Free State in the Union.
In the Sunshine State, we stand for faith, family, & freedom.
Thank you to everyone who joined us this afternoon in Hollywood for @CPAC Latino.
A special thank you to @mschlapp @mercedesschlapp @latinowallst @MiamiYRs @palm_beach_yr & all who made this inaugural event possible!
One year ago, and it's even worse now. @Evans_TerpsAD
Feels like the program is going backwards after losing 4 straight games. This press conference by @CoachLocks doesn't exactly instill confidence. @Evans_TerpsAD
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Many of the critical comments replying to the senator’s memo are not representative of collaborative conversations and do not seem to consider the entire picture.
If a 2nd collapse ever occurred after removing or delaying the deadline, I wonder what those same critics would say.
I appreciate the many conversations with Senators and constituents regarding what I believe is a shared goal of ensuring safety while preserving affordability within condominium communities.
Here is the memo I shared with my @FLSenate colleagues today.
flsenate.gov/PublishedConten…
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Now more than ever, we all understand the universal importance of a balanced budget and doing all we can to get the most out of every dollar.
For our community associations, our cities, and certainly our families at home, we all want to invest as efficiently and efficiently as possible.
For anyone also focused on just condos, pay closer attention to minute 4:30 of Ana’s helpful video:
“When we drill down to a new product that is a prime location at high prices per square foot, it is outperforming ‘old realities by enormous margins.’ ”
Aug 2024 report: Miami Dade & Miami median pricing. Let's get ahead of the main stream news cycle. @volvoshine (some talking points for us!)
I wanted to get this simple report on median pricing out ASAP to counter an alarmist headlines.
Despite alarmist headlines, Miami Dade SFH & Condo markets are showing healthy topping patterns. All segments charted here, except one, are up year-over-year.
The only segment here that did not have YOY growth is Miami Dade condos, which were down 1.5% YOY. Given the magnitude of the new condo laws coming into effect in 2025 (requiring reserves) this is a very modest decrease.
And to note:
Inventory levels remain 30%+ below pre covid.
Also to note:
all segments here are over 70% above pre Covid levels in 2019. With Miami SFH leading the pack, up 80% vs August 2019.
Nothing can sky rocket up forever.
Our market remains heavy cash and with low inventory, especially with SFH.
If we segment this data, we see that new & prime inventory is outperforming all else (but that is a topic for another post).
#miami #miamirealestate #realestate #RealEstateInvesting
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What does this mean?
If you own a luxury high rise condo on the water and you bought new in 2019, yes, your equity is way up.
Your costs have risen also (property taxes, H0-6, HOA fees - specifically assn insurance and staffing costs).
If you’re a buyer, get out the checkbook.
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Happy 4th everyone! Have fun and be safe! 💪🏼🇺🇸
July 4th celebrations? Pro tip: Check your HOA or condo bylaws to see if fireworks are allowed. #WeAreCAI 🎇
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