By Bradley S. Dornish, Esq.
The National Real Estate Investors’ Association (National REIA) has started a nationwide education-based certification program designed to recognize the high level of knowledge and professionalism attained by those real estate investors who attend the programs to qualify for the certification.
ACRE has been certified as a local administrating agency for the National PHP program, and our classes and certain monthly meetings this year will qualify for credit. Many lecturers at monthly meetings will qualify for one (1) hour of credit for those who attend the main speaker’s presentation. Most of our mini-seminars will qualify for three (3) hours of credit in a particular category, and our annual educational weekends and convention will have many opportunities for credit for those who attend.
We anticipate offering at least 36 hours of mini-seminars on core topics, at least one (1) hour of credit for over half of our monthly meetings, and six (6) or more possible credit hours from each educational weekend and convention. This means that if we plan our class and meeting schedules to cover all of the core topics, and you attend most of them, you could complete training in about a year.
Of course, there will be educational opportunities offered by other National REIA affiliated groups, and by the National Association as well. Since credits earned don’t expire, you can also take as long as you need to complete the certification program. Once you are certified, you will need 20 credit hours every two (2) years to maintain your certification.
Only those members, who complete sixty (60) hours of real estate instruction which include 42 hours of core courses and 18 elective hours, will be certified a Professional Housing Providers. The curriculum is as follows:
COURSES OF STUDY:
The course of study will be divided into 42 clock hours of core courses and 18 hours of elective topics for a total of 60 hours of formal education. The core topics are as follows:
Appraisal – 2 hours
Including formal appraisal methods (cost, income and replacement method), PACE instruction, how to compare properties, etc.
Rehab – 4 hours
Including estimation, which projects will pay for themselves, etc.
Hands-on – 2 hours
Including actual hands-on opportunities and demonstrations
Fair Housing Law – 2 hours
Including federal, state and local fair housing regulations
Ethics – 1 hour
Including enacting and actual use of national, state, local and personal business ethics statements, policies and practices
Negotiation – 3 hours
Including negotiating with sellers, buyers, renters, contractors and vendors, banks, etc.
Finance – 6 hours
Including conventional financing, FHA/VA financing, owner financing of all types; comparing financing alternatives, offering financing to buyers
Tenant-Landlord Law – 2 hours
Including landlord and tenant responsibilities, evictions, etc.
Contract Law – 3 hours
Including basic contract law; using contracts and clauses to protect yourself, developing contracts such as leases, options, purchase contracts, etc. appropriate for the real estate investment business
Local Regulations – 2 hours
Including regulations affecting real estate investment OTHER THAN tax laws, fair housing laws, aid EPA regulations
Federal Regulations – 1 hour
Including regulations affecting real estate investment such as: lead paint regulations, wetlands regulations, underground storage tank regulations, Environmental Quality Zone regulations, etc.
Management – 4 hours
Including record keeping, dealing with tenants, maximizing cash flow, and others
Purchasing – 2 hours
Including finding deals and calculating profitability
Inspections – 2 hours
Including pre- and post- purchase inspections and pre and post move-out inspections of properties held
Tax Law (Income) – 1 hour
Including calculating and minimizing income taxes and income tax laws as they affect the real estate investor
Tax Law (Other) – 1 hour
Including property taxes, 1031 tax deferred trades, etc.
Insurance (Property) – 1 hour
Including what type of property insurance is appropriate for investment property; negotiating for the best rates and renter’s insurance
Insurance (Worker’s Compensation) – 1 hour
Including when, how and for whom to carry worker’s compensation insurance
Insurance (Liability) – 1 hour
Including why and how much liability insurance to have
Marketing – 2 hours
Including how to market properties for sale and for rent; how to market buying services
The remaining 18 hours may include further education in any or all of the above topics, as selected by the NAPHP candidate.
Sign up for your PHP education at the Convention and get started. We will have literature and sign-up sheets at the Convention, and will let you know which courses are approved for which topics.
See you in class and good luck on your certification as a Professional Housing Provider!
(Created March 2009)