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The 35-hour Advanced Income Capitalization course implements a blended learning approach, which includes a pre-class, two-hour online session combined with 30 hours of traditional classroom education and wraps up with a three-hour exam on the fifth morning.
Please review the FAQs for important information regarding registration and cancellation deadlines; mandatory diagnostic test; online session; course equivalencies.
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Course Description
Advanced Income Capitalization builds on topics covered in the General Appraiser Income Approach/Part 1 and General Appraiser Income Approach/Part 2 courses. It introduces additional topics that a seasoned general appraiser can expect to meet in everyday practice. The course features a limited review of material covered in the previous income courses to maximize the time available for advanced topics. Advanced topics are divided into six general areas:
- Operating income issues, including complex lease structures, reimbursements, and tenant improvement allowances
- Property valuation techniques, property taxes that are a function of market value, reversions, property model applications, and supporting the discount rate
- Complex mortgage instruments and the effects of leverage
- Equity valuation
- Investor motivations, including measures and types of risk, measures of return, and income tax consequences
- Case study applications of an office building, a subdivision, and a proposed development with prospective and subject to hypothetical values
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Program Overview
Table of Contents and Overview [PDF] 
Course Schedule [PDF]
Recommended Text
Capitalization Theory and Techniques Study Guide, 3rd ed.
The Dictionary of Real Estate Appraisal, 5th ed.
Rates and Ratios Used in the Income Capitalization Approach
Ordering Information
To order books and other materials go to
our store
Tuition
Please contact the sponsoring chapter for information on fees applicable to chapter programs.
Required
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Appraisal Institute Hours
35 (2 online, 30 classroom, 3-hour exam)
To receive credit, participants must attend 100% of the program.
AI CE Credit for Designated Members and Candidates for Designation
NOTE: This course is approved in most states for CE; it is also AQB approved as a QE Certified General elective course. It is not a substitute for any of the other required Certified General courses. It is not a substitute for the prerequisite General Appraiser Income Approach, Parts ONE & TWO courses.
Completing this advanced education course satisfies the Advanced Continuing Education (ACE) requirement for an MAI, SRPA, SREA, RM, or SRA Designated Member, general or residential Candidate for Designation and general or residential Practicing Affiliates. This course may not be repeated in any subsequent continuing education cycle unless it has been substantially revised, as determined by the Admissions and Designation Qualifications Committee.
For further information, please visit our Continuing Education Page . This program is approved for 1.25 hours of Appraisal Institute CE credit for every hour taken.
Prerequisites
Required:
Participants must sign a waiver at the beginning of the course stating that they have the prerequisites. If they do not, they will not hold the Appraisal Institute responsible and will not expect to receive special attention during the course.
Who Should Enroll
General appraisers with a solid background in the income capitalization approach, accountants. Required MAI Designation course.
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Class Schedule & Locations
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06/11/2013 - 06/15/2013
Location: Pottstown, PA
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Sponsor: Philadelphia Metropolitan
Contact: Tiffany L. Lewis, (610) 326-0100
Instructor: Taylor, Gary P., MAI, SRA
06/14/2013 - 06/19/2013, No class on Sunday June 16
Location: San Diego, CA
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Sponsor: San Diego
Contact: Patti Kreutzer, Executive Director, (858) 292-7324
Instructor: Roach, Stephen D., MAI, SRA
06/17/2013 - 06/21/2013
Location: Houston, TX
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Sponsor: Houston
Contact: Lori Wilkins, (713) 668-1757
Instructor: Kirby, Thomas R., MAI, SRA
06/17/2013 - 06/21/2013
Location: Romulus, MI
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Sponsor: Appraisal Institute
Contact: National Programs, (312) 335-4207
Instructor: Dowling, Vincent M., MAI, SRA
06/17/2013 - 06/21/2013
Location: Tigard, OR
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Sponsor: Greater Oregon
Contact: Vicki Champ, (503) 316-1979
Instructor: DeWeese, Gary S., MAI & Larrabee, Matthew, MAI
08/12/2013 - 08/16/2013
Location: Chicago, IL
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Sponsor: Chicago
Contact: LA Anderson, (312) 616-9406
Instructor: Spence, William D. Otto, MAI
08/19/2013 - 08/23/2013
Location: Woburn, MA
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Sponsor: Massachusetts and Rhode Island
Contact: Lianne Andreucci, (781) 397-8922
Instructor: Dowling, Vincent M., MAI, SRA
09/16/2013 - 09/20/2013, Learn How You Can Use this Course to Meet Your ACE Requirements
Location: Oakland, CA
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Sponsor: Northern California
Contact: Lisa Estes, (925) 932-7753
Instructor: DeWeese, Gary S., MAI & Pending, Instructor
09/16/2013 - 09/20/2013, (Monday - Friday) Diagnostic Test Deadline 8/26; Registration Deadline 9/2; Online Session Deadline 9/9
Location: Tampa, FL
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Sponsor: Florida Gulf Coast
Contact: Nancy Bachor, (813) 962-4003
Instructor: Pending, Instructor & Taylor, Gary P., MAI, SRA
10/10/2013 - 10/15/2013
Location: Aurora, CO
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Sponsor: Colorado
Contact: Sherry Engleberg, (303) 691-0487
Instructor: McCloud, Harold S., MAI & Bowes, Nelson, MAI
10/15/2013 - 10/19/2013
Location: Columbus, OH
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Sponsor: Appraisal Institute
Contact: National Programs, (312) 335-4207
Instructor: Urubek, John H., MAI
12/05/2013 - 12/14/2013, Classes will be held Thursday, Friday , Saturday, Friday, Saturday
Location: East Brunswick, NJ
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Sponsor: Metro New Jersey
Contact: Debra Miller, (732) 560-0072
Instructor: Sussman, Mark W., MAI & Linfante III, Arthur A., MAI
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