Photo by Valentyn Chernetskyi/courtesy of Unsplash.com
The COVID-19 pandemic has wreaked havoc on the economy generally and with respect to many asset classes of real estate. The general consensus now is this unfortunate situation will not abate for some time in the future. Not surprisingly, with businesses closed, employees furloughed, and revenue streams severely challenged, many owners of real estate and their tenants are simply not making rent and debt service payments. When that happens, the value of the real estate is reset, leaving the equity and possibly some of the debt impaired.
Lesson Learning Objective:By the end of this lesson, you will be able to link the significance of tax consequences to distressed real estate workouts.
Predictably, many real estate asset classes were negatively impacted by the Covid-19 pandemic. The following lesson will give you some insight into the catalysts that made Real Estate Workouts particularly necessary for retail and hospitality property (owners/borrowers). Additionally, hear why the Covid-distressed multifamily sector is an interesting case study to monitor.
Lesson Learning Objective: By the end of this lesson, you will be able to identify the initiating catalysts of workout necessities.
Photo by Campaign Creators/courtesy of Unsplash.com
In this lesson, Understanding the Process, methodology and progression of the workout is explored.
Lesson Learning Objective: By the end of this lesson, you will be able to comprehend the process, methodology and progression of the real estate workout.
In a post-COVID world, real estate lenders have become helpful creatives to borrowers by utilizing real estate workouts when borrowers are at risk of defaulting on loans.
In this lesson, Real Estate Workout Defined, you will learn the definition of a real estate workout and will gain knowledge of what a real estate workout is and what it is not.
Lesson Learning Objective: By the end of this lesson, you will be able to define a real estate workout.
Connect Classroom has created course content, which encourages ongoing conversations. You will enjoy learning from expert provided content on topics relevant to your work.
Mission Statement
Connect Commercial Real Estate is a commercial real estate marketing agency, as well as a provider of news, events and continuing education, with a client and community-centric approach. Our goal is to positively impact the commercial real estate community nationwide by better serving the people and places that we touch. Our innovative and integrated approach provides our clients with a platform to tell their stories and share their experiences and success through written, digital and creative channels, while educating the industry on market trends and deal flow.
Course Instructor
Daniel Ceniceros, Founder & CEO, Connect Commercial Real Estate
Instructor Response Time
At any point during your time within the course, should you have a question or comment, there is an Ask Your Instructor button you may utilize to contact your instructor. Response time is within 48 hours.
Course Description
This course is an overview of a Real Estate Workout. This course will define the real estate workout and how it should be utilized as well as the process, when the need for a workout arises, tax implications, potential pitfalls and lenders responses.
Course Prerequisites
None.
Criteria for Successful Course Completion
To receive full credit, you must read the text and, if applicable, watch all of the videos. Please do not skip any important information.
Once you have completed a lesson, you will be directed to an end of lesson quiz and after successful completion of the quiz, you will be directed to move on to the next lesson. Once all lessons are completed, you will be prompted to take the final exam to complete the continuing education credit requirements.
Exam Information
To receive full continuing education credit, you must complete the final exam. You will be able to take the exam twice and must have a 70% score to pass. Once you have successfully passed the course exam, you will be directed through the process to receive your certificate.
State or Jurisdiction Specific Requirements
None.
Course Progression and Navigation
The homepage of each course lesson exhibits a blue and white course progression card. On this interactive card you will find the Lesson Content category that lists the lesson’s topic(s), knowledge check and quiz. This information is found on the upper left corner of the card.
The course progression card also provides you with your lesson completion status in percentage as well as lesson steps completion. This information is found on the upper right corner of the card.
Below the course status card are navigation buttons. To the lower left is the Previous Lesson button. When clicked, this button takes you to the previous sequential lesson within the course. The button to the lower right is the Next Lesson button. When clicked, this button takes you to the next sequential lesson within the course.
In the middle of the Previous Lesson and Next Lesson buttons is the “Back to Course” text button. When clicked, this text button takes you back to the course’s homepage.
Please note that your ability to digress to a previous lesson or forward to a next lesson may be impaired due to lesson element completion requirements.
Equipment and System Requirements
Internet Connection
Modern Web Browser
Audio Speakers or Headphones for courses that contain videos
Adobe PDF Viewer to view the Learner’s Guide
Connect Classroom’s online courses require a strong internet connection, sufficient memory to run system software and an up-to-date internet browser.
Compatible browsers:
Windows: Current versions of Google Chrome, Mozilla Firefox or Internet Explorer
macOS: Current version of Safari, Firefox, or Chrome
iPad: Current Safari browser
Android Tablet: Google Chrome (not necessarily the default browser)
Windows Tablet: Google Chrome or Mozilla Firefox
We recommend using Google Chrome or Safari for the best user experience. It is always a good idea to update your browser to the most recent version of an optimal experience.
If your course is not working properly, here are a few suggestions to troubleshoot:
Restart your computer: Reboot your computer and try again.
Restart your router: Disconnect your router by pulling the power cable out, waiting 30 seconds, and plugging it back in.
Use Chrome: If you aren’t already using it, download the latest version of Chrome here.
If you are still experiencing issues after following these troubleshooting tips, please contact our Support Team. Please be aware that we will need you to have the device you will be using and the course available at your time of contact. We are happy to help!
You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number or your full name to take the final exam.
