I have just been notified, via Twitter that CNRPA is now following me. So I go to check out who CNRPA is and I find the Commercial National REO Professionals Association! Anyone who has read this blog for any amount of time will understand when I say I can’t remember the last time I was so excited! The stated intentions of the CNRPA are as follows:
Commercial National REO Professionals Association is a trade organization for those who conduct business within the distressed commercial real estate industry. The focus of CNRPA is to establish and promote education, as well as networking in business development opportunities for its members. Education and knowledge are combined to achieve certifications, which are applied with experience to achieve master designations. Preparation, integrity, reliability, consistency and teamwork are the defining characteristics of our members.
Here we go again. The list of founders and their resumes are about 10,000,000 times more legitimate than those of CREOBA but I still just don’t understand why I need to join one of these associations to work on distressed assets. I don’t have to take classes or join associations centered around non-distressed assets to work on non-distressed assets. Any classes I may take or associations I may join should benefit me for any property type.
Membership dues are $795 annually plus a $75 monthly fee. For what, I have no idea. The right to sign up for one of these classes maybe:
Commercial BPO 101 Form and Function:
This course explores the basics of commercial real estate and how it differs from residential real estate. It discusses the general theories and compares and contrasts each of the six broad property types covered in commercial real estate. At the end of this course you should have a good basic understanding of each property type so that you can decide which types of commercial property most interest you.Valuations and Financial Indicators:
This course covers the fundamentals of how to effectively value each of the six types of commercial real estate. It also gets you comfortable with financial indicators – cap rates, gross rent multipliers, cost per square foot, and cash on cash return.Commercial BPO 201:
In this course we share with you all of the tools necessary to complete the industry’s most elite and professional commercial BPO. These BPO’s are completely comprehensive and typically will run around 70 pages of pure content with zero fluff. In addition you will learn – step by step – how to use each of the software tools that we recommend. You will apply the knowledge you learned from the Advanced Valuations Course. You will learn about highest and best use practices, how to write a development proforma, how to establish value on fractured projects, and how to write do a BPO for Note Sales.
I am just left to wonder if any of the banks and other financial institutions have any idea that CNRPA and CREOBA are about to come swooping in and instill their “best practices” and “industry standards” to which said financial institutions must adhere.
See you guys at the next REO BPO 101 course. Unfortunately, I’ll be retaking it because it was too hard the first time around.
One last point: It is pretty sad if you are copying from CREOBA.
7 comments
Joshua says:
December 5, 2009 at 1:16 am (UTC -8)
just another designation we should get to show our knowledge. while im sure a couple of the courses would prove interesting, i dont see much value in something that takes 2 days to "learn" everything in the topic. i think i qualify for ccim but im not going to give them any money or sit in the mandatory classes. why would i waste my time or money? its legitimate, its a nice designation to have, but ill be damned if im going to pay for the priviledge of putting a couple letters after my name. especially if they want me to sit through a few days of garbage. and then where does it stop? ccim, sior, csm, cpm… and on and on. and every company has its own preferences. waste of time and money.
Julie Boyd says:
January 8, 2010 at 5:59 pm (UTC -8)
Joshua,
I have attended the CNRPA courses, and they are definitely not about useless fluff! The courses are a fast paced grand tour into the minds, lives and best business practices of some of the elite in the industry. Priceless! I am a CCIM cadidate, and as to the CCIM, the designation is, in a large degree, the ticket to the dance. The CNRPA courses enable the graduates to deliver the best valuations in the industry. Providing world-class, consultative services to our clients is not a waste of time or money, rather an investment in our careers and our relationships with our Banking Vendors.
Chris Rodriguez says:
December 5, 2009 at 6:29 am (UTC -8)
Could not agree more. The CCIM classes are actually very good. I would most certainly recommend the classes for filling in some knowledge base but no need to have the CCIM after your name (at least for me).
Arizona Law Man says:
June 5, 2010 at 2:40 am (UTC -8)
This man is fraud!!! Beware!!!
@distressedpro says:
December 6, 2009 at 12:54 am (UTC -8)
I've taken a few CCIM courses, they are worth the time and money and not mindless hour-counting type courses, quite the opposite. I conduct commercial and construction foreclosure and reo auctions. Research banks with commercial reo here call in at the top and do the same good job you'd always do for any client. A lot of banks have their own cre bpo forms and/or procedures, they'll tell you want they want.
Joshua says:
December 6, 2009 at 10:44 pm (UTC -8)
agreed, ccim is actually really good to learn the business. something a lot of firms should probably implement instead of their in house training or relying on B school teachings. but i will not be caught paying thousands of dollars for a designation. if i ever do cave and get a ccim i will be doing everything possible to substitute experience and just pay the membership fee. but i still have issues with parting with cash for these things.
Square Feet says:
December 8, 2009 at 9:28 am (UTC -8)
nice, they followed me too. I checked them out and began laughing again when I read a bit more on their site:
"Courses include an Introduction to Commercial Real Estate"
Introduction to CRE? who are these guys kidding – and $795 to join? good gawd