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Advanced Income Capitalization

CALL   Date: October 22 - 26, 2012   Location: Herndon, VA
 
  Course    
Category  Capitalization [Cap]  
Level  II  
Attendance Hours  32.0  
Exam Hours  3.0  
Current Price  $ 675.00 AI
$ 775.00 Full
 
  Instructor    
Patrick A. Josephs, MAI  
Kern G. Slucter, MAI, SRA  
    
 
  Location    
Name  Embassy Suites Dulles-Airport  
Address  13341 Woodland Park Rd  
City  Herndon  
State  VA  
Zip  20171  
 
Click Here to check state approvals
     
 
  Sponsor / Contact    
Contact Name  National Programs  
City  Chicago  
State  IL  
Zip  60606  
Email  nationalprograms@appraisalinstitute.org  
Phone  (312) 335-4207  
 
  Description    

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. Click here.

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


Downloads
  • Table of Contents and Overview [PDF]
  • Course Schedule [PDF]
    •  
      Audience    
    General appraisers with a solid background in the income capitalization approach, accountants. Required MAI Designation course.
     
      Equipment    
     
      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.
     
      For Further Reading    
    •  Capitalization Theory and Techniques Study Guide, 3rd ed.  
    •  Rates and Ratios Used in the Income Capitalization Approach  
    •  The Dictionary of Real Estate Appraisal, 5th ed.  
     
      Disclaimer    
    Cancellation Policy
    • Up To 15 days prior to program start date, refund in full.
    • 7 - 14 days prior to program start date, $150.00 cancellation fee.
    • Less than 7 days prior to program start date, forfeit of payment.
    		        
    Official start date of the program is when the online session begins. It is mandatory that this session be completed. The first two hours introduce you to and prepare you for the traditional classroom sessions that follow. If it is not completed, you will not receive credit for or pass the course.

    To access the online session, sign in at www.appraisalinstitute.org and in your “My Appraisal Institute” section, locate the session and click [GO TO ONLINE COMPONENT].



    Continuing Education Credit
     This course is approved for thirty-five (35) hours of Appraisal Institute continuing education credit. This course might not be approved in all states by the offering date. Please check with your state board for state approval information.

    Cancellations
    This confirmation will serve as your receipt. All cancellations must be submitted in writing. Confirmed students should not assume that cancellation has been granted until a confirmation has been received.

    Other Information
    If you have a disability and require accommodation, please notify the national office at least two weeks in advance and we will arrange for reasonable accommodation. The Appraisal Institute reserves the rights to cancel, limit, or reschedule the seminar and to change faculty assignments and facility locations at any time. Prospective students should confirm their registration before making any non-refundable airline reservations.



    Program materials will be picked up at the site.
     
      Additional Information    
    Schedule

    Online session available 28 days before classroom session begins on September 24, 2012

    Diagnostic test "Pass" grade 14 days before classroom session begins no later than October 8, 2012

    Registration for the course ends 14 days before classroom session begins on October 8, 2012

    Online session ends 7 days before classroom session begins on October 15, 2012

    Classroom sessions begin on October 22, 2012

    Classroom sessions end on October 25, 2012

    Exam on October 26, 2012



    Class Schedule:

    Day 1: 8:00 am - 8:30 am Check In

    Day 1: 8:30 am - 4:30 pm

    Day 2: 8:30 am - 4:30 pm

    Day 3: 8:30 am - 4:30 pm

    Day 4: 8:30 am - 4:30 pm

    Day 5: 8:00 am - 11:00 am (exam)



    Attendance Policy:

    The Appraisal Institute issues certificates for state certification/licensing or state continuing education credit that verify successful completion and attendance of 100% with your grade notification letter. Please note, if Appraisal Institute attendance records indicate attendance of less than 100%, the student certificate will reflect this and state agencies may refuse to award credit.



    Location:


    Embassy Suites Dulles-Airport


    13341 Woodland Park Road, Herndon, VA 20171


    Room Rate: $149


    Remington Ballroom 1

    3 miles from Dulles International Airport


    Free parking


    Complimentary shuttle to Dulles Airport


    Guest Suites with coffee makers, desk, 42 inch flat panel hi-def tv


    Health club with pool

    Laundry and dry cleaning


    •  Hotel Website