About The Commercial Real Estate Distressed Assets Association

 

History

 

CREDAA was founded in pre-launch in January of 2010 and was first developed starting on August 20^th 2009.

 

CREDAA is the brainchild of Scott Miller and Warren Samek, both National Commercial Account Executives with Fidelity National Title in Seattle, WA and JW Najarian, formally a commercial lender with Pathfinder Commercial Mortgage and the Founder of The Commercial Real Estate Professional Investor Group out of Los Angeles.

 

After the real estate and stock markets fell in September of 2008 the founders envisioned a commercial real estate collapse coming as the CRE market tends to lag just around 2 years from the residential market.  We believe now that due to the magnitude of the market and residential market crashes, the commercial collapse is happening at a quicker pace.

 

Due to the TARP plan we believe the banks are holding troubled assets at an alarming rate and furthermore, that if these assets are held too long, that the market recovery will be much longer than it needs to be.

 

The founders came up with the idea that if the industry had a place to be able to work together at finding solutions, that the recovery could be sped up. The founders believe that an association of industry professionals and investors can, given the most current information, data and education, find and implement solutions that will help banks, brokers, lenders, investors and property owners re-work or get out from under troubled assets with the least losses.

 

Mission Statement

 

CREDAA is dedicated to, discovering solutions to the troubled assets market to help and guide in supporting, enlightening, educating and engaging our member base and the industry on the current state of Commercial Real Estate, Distressed, toxic, unstable, troubled Assets or Non-performing Notes, by using technology, seminars, lectures, symposiums, webinars, teleseminars, and other media to deliver high quality and pertinent industry news, views, content, analytics and analysis and education to legitimate investors, brokers, lenders, industry professionals and sellers to communicate, participate and work together in on-going daily forums.  CREDAA will also provide professionals a forum to promote themselves by listing members and their services in order to allow other members to build professional teams nationally to get projects moving.

Vision Statement

 

CREDAA, as an association, will be a powerful information resource and community for the commercial real estate and financial industry. CREDAA will effect positive change. Employing our mission to support and educate the industry to help find win-win solutions for financial institutions, lenders, brokers, buyers and other professionals can use and utilize to help move these assets into the public realm. As a group, we will assist the economy by turning around our current bad debt in Commercial Real Estate markets.

Goals

 

To provide brokers, lenders, banks, investors and other CRE industry professionals, education, solutions, resources and other support to help them in the disposition, acquisition, valuation and financing of CRE Distressed, Toxic, Unstable or troubled assets and non-performing notes. Become a membership of companies and individuals operating in the commercial real estate, investment, finance, and banking industries.

Policies and Procedures

 

CREDAA is a professional organization dedicated to the aquisition or distribution of commercial distressed assets and notes.

Values Statement

CREDAA believes that integrity of a person can only be determined via the values one possesses in a particular order. To stay in integrity CREDAA will judge each situation against this value list in this particular order.

·         Customer Service

·         Value product / user

·         Ease of Use

·         Profitable

CREDAA Policies and Procedures

 

CREDAA Help

 

CREDAA has set up a help desk in order to send messages to the administrative staff. These problems and issues will be answered in the order received and will take precedence over any other form of communication to report issues. This includes personal emails to the administrative staff or any other form of communication. This will assure that anyone who needs help will get without favoritism.

Joining CREDAA

 

CREDAA is a by invitation only site. In order to be considered you must be recommended or invited. You must fill out your profile as completely as possible and you must upload a picture of yourself NOT your logo. Headshots do not have to be professionally done, but must be recognizable. CREDAA reserves the right to ban a member at any time, for any reason, whenever CREDAA sees fit. CREDAA will make the determination to warn or ban a member. Some reasons for not allowing a person to join are as follows. Picture not viewable or not of face, profile filled in incompletely, person was not invited or recommended.

Banning a Member

CREDAA reserves the right to ban any member at any time for any reason. CREDAA will try to warn a user of unwanted or abusive conduct, but does not have to. Most bans have come from spamming (see spamming under Code of Conduct.

Materials on CREDAA

 

The information and content on the CREDAA website is strictly the opinion of the person that posted it. CREDAA, it’s owners, founders, staff, vendors, contributors, advisors or any other person associated with CREDAA are not responsible for the content of the Forum, Blogs, Events or any other page on this site that is updatable by the membership at large. . CREDAA acknowledges the rights of the individual to express themselves as long as no one else is hurt. CREDAA believes that being offended is your choice and that a member can choose not to engage. Hurt is defined at any action that could defame or cause another to lose their livelihood or worse. Spam, offensive, hurtful, abusive, sexist, racist or grossly negligent material it can be reported to the Help Desk. CREDAA is a place of business and the expectation is that every member handle themselves in a professional and respectful manner.

Content

 

CREDAA reserves the right to delete any content for any reason at anytime without explanation.

 

Forum

 

· The Forum can be used to promote your projects, products and services, but if you post more than 5 items in a row CREDAA reserves the right to delete them. Advertisement space is available to all users for a fee (contact site founder for details). The Forum should be used for the following and a forum post may be deleted if the criteria below are not adhered to.

·         Deals or Projects

·         Funding Requirements or Availability

·         Have Jobs

·         Need Job

·         Questions

·         Business Opportunities

·         General Announcements

CREDAA News (Staff and Admin Only)

·         Blogs should be used to teach, tell stories, make observations, give news or views.

·         Events is used to inform other users of your events.

·         Chat – We cannot police chat so if you are easily offended please stay out. If someone on chat is continually abusive please report that person to the Help Desk

·         Videos and Pictures – Pornography is unacceptable. You will get banned immediately. Videos and pictures should be used to promote your business or enhance your personal page.

·         Ad space. CREDAA currently is a no charge site and reserves the right to use advertisement to monetize this site. Advertisement space is available to all users for a fee (contact site founder for details). The Forum can be used to promote your projects, products and services, but if you post more than 5 items in a row CREDAA reserves the right to delete them.

Code of Conduct

 

CREDAA has a NO TOLERANCE Policy for Spam or Spammers

Spam is the abuse of electronic messaging systems to send unsolicited bulk messages indiscriminately. E-mail spam, known as unsolicited bulk Email (UBE), junk mail, or unsolicited commercial email (UCE), is the practice of sending unwanted e-mail messages, frequently with commercial content, in large quantities to an indiscriminate set of recipients. Instant Messaging spam, sometimes termed spim, makes use of instant messaging or chat systems to send unsolicited promotional information.

Spam is a big problem on networking sites and I am sure that most of you get much to much in your regular mailboxes.

CREDAA is no exception. In order to be open and give you as much freedom as we can we have to avoid policing every situation that occurs, which means we miss things.

To the large majority of users are respectful of others There have been some that either don't know what they are doing or just don't care and so for those that don't know hopefully this message will help you and for those that don't care we want to warn you in advance.

WE WERE TOLD YOU WANTED US TO PROMOTE OUR STUFF?

 

CREDAA encourages you to promote yourself, your project, your service or product, but this must be done respectful of the members of this site.

OTHER INVESTMENTS

 

We have also allowed members to promote things that were not necessarily CRE related. CREDAA has polled the members and have found that many do want to look at alternative investments. We believe this is a good thing; I deal in commodities so I know about bulk REO, Gold, Diamonds and Oil Deals pretty thoroughly. I for one do not trust over 95% of the claims made. We will watch these ads very closely and if you spam others with them you will be banned.

CREDAA reserves the right to ban or refuse membership to anyone, at any time, for any reason. That being said, unless you really abuse the system you will probably just get a warning, but you won't get two.

As far as Spam is concerned we have a No Tolerance policy. I know some people don't get it and they are so excited about their new business or opportunity that they go over the edge and pound everyone within a ten foot radius, whether the person can fog a mirror or not. As the founder of two MLM companies I understand the excitement and the want to make millions by getting your message out to as many people as you can, as fast as humanly possible. Now know I LOVE MLM and I have a downline that is pretty big. I have never sent one blast to share this info with anyone nor will I. We are all adults, but spamming is not only childish and immature, it is annoying and very disrespectful to the recipient. If you are in business and want to promote it (not just talking MLM), than do it in the Forum.

GROUPS

 

You can stop following a group, but the group can still send a blast to all members (When you create a group or are the owner you can turn this feature off). It is nice to be able to broadcast to the entire group. What a privilege. With great power, comes great responsibility.

FRIENDS

 

Friends are different. If you send a bunch of spam to someone you clicked be a friend, and you annoy them, they can block your messages in the future.

COMMENT WALL

 

Of course you can go spam their wall.... Though this site allows anyone to put something on your wall you can via settings choose to moderate what is put up, but this does not stop a person from sending the promotion to you in this way. As the Admin of this site I will consider banning anyone who sends promotion this way

·         Be respectful of others

·         Treat other as you would like to be treated.

·         Never Spam (Spam is sending promotional info to someone who has not asked for it)

You can report abuse or issues by going to the bottom of the page and clicking on Report Abuse or you can go to Suggestions Tab and the link should be at the top of the page.