Why Earn Professional Housing Provider Designation?

12 Apr Why Earn Professional Housing Provider Designation?

The Illinois Real Estate Investors Association, Inc. (Illinois REIA) offers Real Estate Investor Training under the Professional Housing Provider designation or PHP. Why Earn PHP?  This training is valuable to both new and experienced real estate investors and is offered in Marion, IL on the second Tuesday of each month.

This is a 36 month educational cycle leading towards the student receiving the “Professional Housing Provider” (PHP) designation. Students will participate in a combination of classroom participation and online courses totaling 62 hours of training.

National REIA Guidance and Oversight

All classes are provided under the guidance and outlines set forth by the National Real Estate Investors Association, Inc. (National REIA)

National REIA confers the PHP designation to students all across the United States. Students can attend the Mid Year Leadership Conference and receive their designation on the national stage or at their local association.

Members of the Illinois REIA can attend the monthly classroom training at no charge. Guests may attend the classroom training for a small fee to see if it is what they are interested in. Only members of Illinois REIA a Chapter with National REIA can earn the PHP designation.

Membership in Illinois REIA is available to Online Only Students, Single Member, Dual Member,  Vendor and Vendor Sponsors. Prices range from $100.00 to $600.00 per year. Special Mentoring programs are also available.

What is a National Professional Housing Provider?

The National PHP designation is a nationwide education-based certification program designed to recognize the high level of knowledge and professionalism among the designation holders. It is sponsored and overseen by the National Real Estate Investor’s Association.

Why obtain the National PHP designation?

Only persons completing the educational requirements will be permitted to hold themselves out to the public as a Professional Housing Provider. The designee will be recognized in the form of an award certificate, pin and the right to use the designation on business cards, web sites and other public domains.

He or she should recognize that having a basic education in the topics outlined below will increase their ability to reach specific goals in real estate investment. In addition, National REIA and the PHP program raise the investors level of professionalism and status in the eyes of the public and government. It also aids in encouraging legislators to think of educated investors as a larger group for political action. Other tangible benefits, including discounts on courses and educational materials, will be available as the number of graduates grows

How will I obtain these hours?

These hours may be obtained online at www.ILREIA.com through our local association meetings and seminars. All courses and seminars must meet the following requirements: they must be taught live or online; they must be pre-approved by the National PHP committee; and they must provide a certificate of attendance acceptable to the National PHP committee.

Course 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

2.00 Hours

Including formal appraisal methods (cost, income, and replacement method), PACE instruction, how to compare properties, etc.

Contract Law

3.00 Hours

Including basic contract law; using contracts and clauses to protect yourself, developing contracts such as leases, options, purchase contracts, etc. for the real estate investment business

Ethics

1.00 Hours

Including enacting and actual use of national, state, local, and personal business ethics statements, policies and practices

Fair housing Law

2.00 Hours

Including federal, state and local fair housing regulations

Finance

6.00 Hours

Including conventional financing, FHA/VA financing, owner financing of all types; comparing financing, offering financing

Inspections

2.00 Hours

Including pre- and post- purchase inspections and pre- and post- move-out inspections of properties held.

Insurance – Liability

1.00 Hours

Including why and how much

Insurance – Property

1.00 Hours

Including what type of property insurance is appropriate for investment property; negotiating for the best rates and renter’s insurance

Insurance – Worker’s Compensation

1.00 Hours

Including when, how and for whom to carry worker’s compensation insurance

Management

4.00 Hours

Including record keeping; dealing with tenants; maximizing cash flow; and others

Marketing

2.00 Hours

Including how to market properties for sale and for rent; how to market buying services

Negotiation

3.00 Hours

Including negotiating with sellers, buyers, renters, contractors and vendors, banks, etc.

Purchasing

2.00 Hours

Including finding deals and calculating profitability

Regulations – EPA

1.00 Hours

Including regulations affecting real estate investment such as lead paint regulations, wetlands regulations, underground storage tank regulations, Environmental Quality Zone regulations, etc.

Regulations – Federal

1.00 Hours

Including regulations affecting real estate investment such as lead paint regulations, wetlands regulations, underground storage tank regulations, Environmental Quality Zone regulations, etc.

Regulations – Local

2.00 Hours

Including zoning and building codes.

Rehab – Classroom

2.00 Hours

Including estimation, which projects will pay for themselves, etc.

Rehab – Hands-on

2.00 Hours

Including actual hands-on opportunities and demonstrations

Tax Law – Income

1.00 Hours

Including calculating and minimizing taxes, and tax laws as they affect the real estate investor

Tax Law – Other

1.00 Hours

Including property taxes, 1031 tax deferred trades, etc.

Tenant-landlord Law

2.00 Hours

Including landlords’ and tenants’ responsibilities, evictions, etc.

Elective Items

The remaining 18 hours may include further education in any or all of the above topics, as selected by the National PHP candidate.

Continuing education to maintain National PHP designation

Once the National PHP designation has been obtained, designees must complete 20 hours of continuing education every two years in order to maintain the designation. These hours are elective and may be used by the designee to continue his or her education as he sees fit.

Goals for Illinois REIA

The Illinois Real Estate Investor’s Association is dedicated to making this program a success. It is understood by the committee that the program will evolve as time goes on, and that time will pass before the lour members, and the public at large recognize the value of this education

Illinois REIA believes that the concept of creating well-educated investors is important in the fight to make our industry a respected one. We also believe that the ability to present our members as dedicated, educated professionals will aid in the political action to which we are dedicated. While this education is already the mission of our local association, we hope that a nationwide designation will further this goal by making legislators, regulators, and the public at large recognize that we are not simply “landlords”, but informed business persons who make an ongoing contribution to our communities.