INSIDE IREM RVP CORNER
oPPortunities in reCeivershiP
In RVP Corner, JPM shares
the thoughts and opinions
of an IREM Regional Vice
President on a single topic
covered in the current issue
of JPM and how it affects the
region he or she oversees.
Most receivers don’t have an extensive real estate
background. Courts need trained professionals to take
over properties because there is a compressed timeline.
These cases have to keep moving through the system.
J. BEnJAmin mCgrEW, Cpm®, CCim, SErvES
AS 2009-2010 viCE prESidEnT fOr rEgiOn
11. During his two-year term, he has overseen activities
of IREM chapters in California and Hawaii. McGrew is
the president of Managewest, Inc., a full service property
management firm based in Sacramento, Calif. He has
been in the property management business since 1980.
Since 1982, McGrew has served as a receiver for
the Superior Courts on more than 500 occasions in
California, as well as 10 other states. He has also served
as a federal bankruptcy trustee in multiple jurisdictions
McGrew has long been active in the IREM, serving
as Sacramento Valley Chapter No. 22 president in 2001,
and as a past chairman of the Ethics and Discipline
Committee and the Legislative and Public Policy
Committee. Currently, he is a member of the Ethics and
Discipline Committee and the Ethics Appeal Board, and
serves on Governing Council.
hAvE yOu SEEn A lOT Of grOWTh in
rECEivErShip in yOur rEgiOn?
Yes, as the marketplace has diminished, we’ve seen a substantial increase in California. Just to give you an example, the California Receivers Forum (which is a body
in California that educates receivers) has increased its
membership substantially. I attended a training seminar
at Loyola Law School last year and there were over 350
attendees. Hawaii is experiencing growth as well. The
banks in the Pacific Rim are headquartered in Southern
California, so there is a substantial influence from the
hOW CAn irEm mEmBErS in yOur rEgiOn
find OuT mOrE ABOu T rECEivErShip?
Networking is the key thing. At each one of our nine
chapters in California and Hawaii, there are people who
have a receiver in their firm, or who work for a receiver
or trustee. So, discussions about these opportunities
come up at any IREM networking event.
hOW CAn rECEivErShip hElp prOpErTy
mAnAgErS in ThE lOng run?
The number of opportunities will increase in the next
few years. It’s going to be a portion of the business marketplace for property managers. Having some knowledge
of receivership (or getting involved now), will keep you
ahead of the curve as we approach 2012 and 2013. And
the opportunities exist in the real estate product types
we routinely handle as IREM Members. The skills we
learned through our formal training and experiences can
dovetail very nicely into the receivership role.
WhAT iS ThE Ou TlOOK liKE ECOnOmiCAlly
fOr yOur rEgiOn? WhErE dO yOu SEE iT
gOing in ThE nExT yEAr?
We see some housing markets in California finally getting traction. And some submarkets have actually seen
some gains. But going forward, the housing market has
got to stabilize before there will be any stabilization in
the commercial markets. It’s just a natural progression.
> For more information about receivership, turn to
page 24 to read Ben’s article, “On the Receiving End.”
Continue the conversation on receivership at the iReM iCon confer-
ence this october in orlando. visit www.iremicon.com for more information.