New Deal for Florida Condo Owners

This is Awesome!

Author

Grant Warrington
June 13, 2025

Something wild is going on in Florida’s condo market. Buildings are falling apart, insurance is through the roof, and owners are getting slammed with fees so high they can’t afford to stay…or leave.

Then a builder in Fort Pierce comes along and says, “Hey, I’ll take that crumbling condo off your hands… and you can use it as a down payment on a brand new house.”

Yeah, you read that right. He’s literally letting people swap their busted condo for a luxury home by the water.

This builder’s name is Phil Thompson. He runs Coral Reef General Contracting, and he’s not scared of beat-up buildings. He’s worked on high-rises in Manhattan. Now he’s in Florida scooping up older condos, some with serious issues, and building new homes worth up to $3 million on South Hutchinson Island.

And he’s not making people jump through a bunch of hoops. He said it himself: if the numbers make sense, he’ll make the deal. He even said he might take a loss on a few condos just to help people get out of a bad spot.

Now, I’m not endorsing the guy. I’ve never met him. But I’ll tell you this, he’s not waiting around for politicians to fix the condo mess. He saw a problem, came up with a solution, and he’s making money while helping people.

That’s the kind of thinking we need more of in Florida. And honestly? I think we’re about to see more builders follow his lead.

Because here’s what this really tells us: condos in Florida are in trouble. But behind all the chaos, smart investors are making moves. They’re buying what everyone else is scared of—and they’re playing the long game.

So if you’re looking to buy in Florida, don’t just follow the headlines. Do your homework. There are still great deals out there if you know what to look for.

Grant Warrington

Think like an Investor

P.S. You’ve got to see this deal for yourself. I break it all down in this video—how it works, who it’s for, and why it matters right now.

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