CPM = Could Prove Moot?

Question

I'm a property manager for a large property management firm and I'm looking to start investing personally in real estate (buy and hold).  In my industry it has always been encouraged to gain addition accreditation (I currently hold an ARM certification).

Recently I have been considering obtaining my CPM (Certified Property Manager) and wanted to see if anyone has had experience with obtaining this certification and if there's benefit in having it as a real estate investor?

Any feedback would be appreciated.

Travis

Travis L. · Answer

@James Syed thank you for the input, all very valid points!

@Al Williamson I can't but smile, you pegged me:).  It's amazing I can successfully manage a property with almost $800k monthly in rent revenue, but feel apprehension in starting down my own career path to wealth!  I guess the first step is always the hardest...

Al Williamson · Answer

@Travis L.  when it come to buying for your own portfolio, I'd say getting certifications is less important than getting the education.

Be sure your not stalling and waiting for someone else to give you permission to start investing. My gut tells me  you are more than qualified to get started.

James Syed · Answer

@Travis L    Welcome to BP.

I am a commercial, residential real estate broker and property manager as well. I don't have CPM designation, however I'd love to acquire it for a variety of reason, including but not limited to;

1. As buy and hold property owner, you could manage your property better than others especially if you are cpm because of extensive education in property management.

2. As CPM, you would acquire larger commercial properties to manage and that means big bucks. You can't manage prime commercial real estate without this designation in most cases.

3. You will be able to better analyze fixer uppers, renovation costs,etc as a real estate investor.

4. It's a highly respected designation in real estate industry like CCIM.

The list goes on. I'd highly recommend it. Hope it helps.