Skip to Content (custom)

    Advanced Income Capitalization

    Register
    November 11-15, 2024 Nashville, TN
    Date
    November 11-15, 2024
    Location
    Nashville, TN
    Sponsor
    Tennessee Chapter
    Instructor
    Rick L. Carlile, MAI, SRA
    Class Time
    30 hours
    Exam Time
    3 Hours
    Full Price
    $1,300.00
    AI Price
    $1,000.00
    Enroll by November 11!
    View Pricing Options
    Course Description
    Explore advanced applications of the income capitalization approach. Discounted cash flow analysis provides the
    framework for much of the discussion of investment analysis concepts, emphasizing an understanding of the relationships among the various components of DCF, financial leverage, and risk analysis. Hands-on computer spreadsheet modeling techniques are illustrated.
     
    Note. This course is in the Real Estate Analyst Professional Development Program. View this list of FAQs, which includes information regarding the courses you’ll need to complete the program successfully. 
    Who Should Enroll
    • General real property appraisers with a solid background in the income capitalization approach
    • Candidates for Designation who are working toward an MAI designation
    • Accountants
    AI CE Points
    Attend:
    275
    Attend & Pass Exam:
    375
    Pass Only:
    325
    State Approvals
    State QE/CE Course & Exam Course Only Exam Only Delivery Format Approval Format Start Date Expire Date State Code
    AK CE 32 32 Classroom Classroom 09/01/2023 06/15/2026 18587
    AK QE 35 32 3 Classroom Classroom 09/01/2023 06/15/2026 18587
    AL CE 32 32 Classroom Classroom 10/01/2022 09/30/2024 C02661
    AL QE 35 32 3 Classroom Classroom 10/01/2022 09/30/2024 C02661
    AR CE 30 30 Classroom Classroom 07/01/2022 06/13/2025
    AR QE 33 30 3 Classroom Classroom 07/01/2022 06/13/2025
    AZ CE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    AZ QE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    CA CE 30 30 Classroom Classroom 09/02/2022 09/01/2026 10754211
    CA QE 33 30 3 Classroom Classroom 09/02/2022 09/01/2026 10754211
    CO CE 33 30 3 Classroom Classroom 09/01/2023 08/31/2026 2429
    CO CE 30 30 Classroom Classroom 09/01/2023 08/31/2026 2429
    CO QE 33 30 3 Classroom Classroom 09/01/2023 08/31/2026 2429
    CT CE 18 18 Classroom Classroom 09/01/2023 07/12/2026 AAL.001080
    CT QE 33 30 3 Classroom Classroom 09/01/2023 07/12/2026 APR.000305
    DC CE 35 32 3 Classroom Classroom 03/01/2020 02/28/2024 4063
    DC QE 35 32 3 Classroom Classroom 03/01/2020 02/28/2024 4063
    DE CE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    DE QE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    FL CE 20 20 Classroom Classroom 05/07/2022 05/06/2024 0008737
    GA CE 30 30 Classroom Classroom 06/15/2010 60369
    GA CE 33 30 3 Classroom Classroom 06/14/2010 60370
    GA QE 33 30 3 Classroom Classroom 06/14/2010 60370
    HI CE 33 33 Classroom Classroom 01/01/2024 12/31/2024 23-332
    HI CE 35 33 2 Classroom Classroom 01/01/2024 12/31/2024 23-332
    HI QE 35 33 2 Classroom Classroom 01/01/2024 12/31/2024 23-332
    IA CE 33 33 Classroom Classroom 09/01/2023 08/31/2026 A518-1142
    IA QE 35 33 2 Classroom Classroom 09/01/2023 08/31/2026 A518-1143
    ID CE 30 30 Classroom Classroom 09/01/2023 08/31/2026
    ID QE 33 30 3 Classroom Classroom 09/01/2023 08/31/2026
    IL CE 32 32 Classroom Classroom 01/01/2023 12/31/2024 575.010503
    IL QE 33 30 3 Classroom Classroom 01/01/2023 12/31/2024 573.000705
    IN CE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    IN QE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    KS CE 30 30 Classroom Classroom 01/01/2024 12/31/2024 157.C24.R
    KS QE 33 30 3 Classroom Classroom 01/01/2024 12/31/2024 293.P24.R
    KY CE 33 30 3 Classroom Classroom 07/01/2023 06/30/2024
    KY QE 33 30 3 Classroom Classroom 07/01/2023 06/30/2024
    LA CE 33 33 Classroom Classroom 09/01/2023 02/18/2025
    LA QE 35 33 2 Classroom Classroom 09/01/2023 02/18/2025
    MA CE 32 32 Classroom Classroom 09/01/2023 08/31/2026 10051203
    MA QE 33 30 3 Classroom Classroom 09/01/2023 08/31/2026 10051234
    MD CE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    MD QE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    ME CE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    ME QE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    MI CE 32 32 Classroom Classroom 03/31/2021 03/21/2024 1519
    MI CE 30 30 Classroom Classroom 03/22/2024 12/14/2026 20-952143
    MI QE 35 32 3 Classroom Classroom 03/31/2021 03/21/2024 1519
    MI QE 33 30 3 Classroom Classroom 03/22/2024 12/14/2026 20 - 952099
    MN CE 33 30 3 Classroom Classroom 04/30/2022 04/30/2024
    MN QE 33 30 3 Classroom Classroom 04/30/2022 04/30/2024 1011378
    MO CE 30 30 Classroom Classroom 09/01/2023 08/31/2026
    MO QE 33 30 3 Classroom Classroom 09/01/2023 08/31/2026
    MS CE 30 30 Classroom Classroom 09/01/2023 07/27/2025 MAB #49302
    MS QE 33 30 3 Classroom Classroom 09/01/2023 07/27/2025 MAB #49302
    MT CE 30 30 Classroom Classroom 09/01/2023 06/13/2026 REA-CEC-REC-16801
    MT QE 33 30 3 Classroom Classroom 09/01/2023 06/13/2026 REA-CEC-REC-16801
    NC QE 30 30 Classroom Classroom 01/01/2024 12/31/2024
    ND CE 33 30 3 Classroom Classroom 04/28/2010 CE-201005
    ND QE 33 30 3 Classroom Classroom 04/27/2010
    NE QE 33 30 3 Classroom Classroom 03/17/2016 12/31/2026 1161401.02
    NE QE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    NH CE 30 30 Classroom Classroom 09/01/2023 02/18/2025
    NJ CE 30 30 Classroom Classroom 09/01/2023 08/31/2026 2023-3430
    NJ QE 33 30 3 Classroom Classroom 09/01/2023 08/31/2026 2023-3430
    NM CE 30 30 Classroom Classroom 09/01/2023 08/31/2026 4291
    NM QE 33 30 3 Classroom Classroom 09/01/2023 08/31/2026 4291
    NV CE 30 30 Classroom Classroom 12/01/2019 06/30/2024 CE.0009729-A
    NV QE 33 30 3 Classroom Classroom 04/01/2021 06/30/2024 PL.0009434-A
    NY CE 30 30 Classroom Classroom 01/01/2024 12/31/2024 A4089-28
    NY QE 33 30 3 Classroom Classroom 09/30/2023 09/30/2024 A4089-28
    OH CE 33 33 Classroom Classroom 01/01/2024 12/31/2024 084400104A 22
    OH QE 33 30 3 Classroom Classroom 01/01/2012
    OH QE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    OK CE 30 30 Classroom Classroom 09/01/2023 08/31/2026 708
    OK QE 33 30 3 Classroom Classroom 09/01/2023 08/31/2026 673
    OR CE 33 33 Classroom Classroom 09/01/2023 08/31/2026 APIN-Q-1121-8900
    OR CE 35 33 2 Classroom Classroom 09/01/2023 08/31/2026 APIN-Q-1121-8900
    OR QE 35 33 2 Classroom Classroom 09/01/2023 08/31/2026 APIN-Q-1121-8900
    PA CE 30 30 Classroom Classroom 02/12/2024 08/31/2026
    PA QE 33 30 3 Classroom Classroom 02/12/2024 08/31/2026
    PR CE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    PR QE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    RI CE 32 32 Classroom Classroom 09/01/2023 02/18/2025 REA.0001525-CE
    RI QE 35 32 3 Classroom Classroom 09/01/2023 02/18/2025 REA.0001525-CE
    SC CE 32 32 Classroom Classroom 09/01/2022 08/31/2024 CE1101
    SC QE 35 32 3 Classroom Classroom 09/01/2022 08/31/2024 QEE2031
    SD CE 35 32 3 Classroom Classroom 03/22/2022 03/04/2025 SD568
    SD QE 35 32 3 Classroom Classroom 03/04/2022 03/04/2025 SD 568
    TN CE 30 30 Classroom Classroom 05/01/2023 04/30/2024 1388
    TN CE 30 30 Classroom Classroom 03/30/2022 04/30/2024 1388
    TN QE 33 30 3 Classroom Classroom 05/01/2023 04/30/2024 1388
    TX CE 33 30 3 Classroom Classroom 10/01/2022 08/31/2025 TX Provider #:10 Course #:44089
    TX QE 33 30 3 Classroom Classroom 02/04/2022 02/29/2024 TX Provider #: 8038 Course #: 27890
    TX QE 33 30 3 Classroom Classroom 09/01/2023 08/31/2026 TX Provider #: 8038 Course #: 27890
    UT QE 33 30 3 Classroom Classroom 01/01/2022 06/30/2025 AQ230629
    VA CE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    VA QE 33 30 3 Classroom Classroom 06/16/2022 06/30/2024 4006000795
    VT CE 32 32 Classroom Classroom 01/21/2021 01/21/2025
    VT QE 35 32 3 Classroom Classroom 01/21/2021 01/21/2025
    WA CE 30 30 Classroom Classroom 09/01/2023 02/18/2025 A21034321
    WA QE 33 30 3 Classroom Classroom 09/01/2023 02/18/2025 A21034321
    WI CE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    WI QE 33 30 3 Classroom Classroom 08/31/2023 08/31/2026 74607
    WV CE 30 30 Classroom Classroom 09/01/2023 08/31/2026
    WV QE 33 30 3 Classroom Classroom 06/26/2023 08/31/2026
    WY CE 33 33 Classroom Classroom 09/01/2023 08/31/2026 185
    WY QE 35 33 2 Classroom Classroom 09/01/2023 08/31/2026 185
    Course Objectives
    • Recognize operating income issues, including complex lease structures, reimbursements, and tenant improvement allowances.
    • Apply property valuation techniques related to property taxes that are a function of market value, reversions, property models, and supporting the discount rate.
    • Identify complex mortgage instruments and the effects of leverage.
    • Develop an equity valuation.
    • Recognize investor motivations, including measures and types of risk, measures of return, and income tax consequences.
    • Apply techniques learned to case studies involving an office building, a subdivision, and a proposed development with prospective values and values subject to hypothetical conditions.
    Course Details

    Program Overview:
    Table of Contents and Overview
    Course Schedule

    Assignments:
    Yes. A pre-class, 2-hour online session.

    Equipment:

    • A financial calculator is required. The accepted model used in the program is the HP-12C. AI education programs that require a financial calculator are developed with HP-12C keystrokes; using this model is highly recommended.
    • You must be familiar with calculator operation when the program begins. Do not enroll expecting to be taught how to use a financial calculator.
    • For more information and a free review, click here.
    • For additional help with the HP-12C calculator, take our online seminar Using Your HP-12C Financial Calculator.
    • HP-12C calculator User's Manual.

    Additional Information:

    Course Materials Include:

    • Course Handbook (539 pp.)
    • Solutions Booklet (454 pp.)
    • Symbols & Formulas
    Please review the FAQs for important information regarding registration and cancellation deadlines; mandatory diagnostic test; online session; and course equivalencies.
    Designated members, Candidates for Designation, and Practicing Affiliates will receive the discounted AI Price for the MAI designation courses: Advanced Income Capitalization, Advanced Market Analysis and Highest & Best Use, Advanced Concepts & Case Studies, and Quantitative Analysis. All others will pay full price.
     
    For more information on how to become a Candidate for Designation, click here.

    Important Note: Mandatory Diagnostic Test
    Before enrolling in this or any other MAI designation course, you must take a diagnostic test. The Excel diagnostic tests your mastery of solving appraisal problems using spreadsheets. This diagnostic test was intentionally designed to be challenging and ensure participants have adequate Excel skills before taking MAI designation courses. For more information, check out the Diagnostic FAQ.

     

    Excel is used extensively in the MAI designation courses; it is highly recommended that you know how to perform the necessary appraisal functions in Excel to succeed in this course.

    The diagnostic test is free and can be taken at any time on your personal computer. To register for the test, please click here.

    This course implements a blended learning approach, which includes:
    • A pre-class, 2-hour online session
    • 30 hours of traditional classroom education
    • A 3-hour exam on the 5th morning.
    You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.

    Requirements:

    • Microsoft Excel 2007 or 2010 must be loaded and operational (external mouse recommended). (You may use other spreadsheet programs, but those programs won’t be supported in class; demonstrations will be done in Excel.)
    • Do not enroll expecting to be taught how to use Excel. 

    Additional Course Offerings
    Sponsor Date Location Format
    North Star Chapter March 11-15, 2024 Bloomington, MN Classroom View Details Register
    Bluegrass Chapter June 3-7, 2024 Louisville, KY Classroom View Details Register
    Appraisal Institute May 28 - June 7, 2024 Synchronous View Details Register
    Seattle Chapter June 17-21, 2024 Seattle, WA Classroom View Details Register
    Event Information

    Location:

    Sheraton Music City Hotel

    777 McGavock Pike 

    Nashville, TN 37214


    Registration: 7:30 a.m. central time

    Class Begins: 8:00 a.m. central time


    HOTEL RESERVATIONS: A special discounted nightly rate of $155.00 has been arranged for your stay at the Sheraton Music City Hotel.  Please click HERE to book your room reservation. 


    Please Note: Room reservations must be made by the cut-off date of October 11, 2024 in order to guarantee this rate.  Please contact the hotel (not the chapter!) directly at 615-885-2200 if you are trying to make a reservation after the cut-off date.  The hotel may be able to extend the group rate to you if their occupancy allows, but again, the discounted rate is only guaranteed until the date of October 11, 2024


    Parking: Parking at this hotel is available to students at a discounted rate of $5 per day.  If you have a vehicle and are staying at the hotel for this course, you will need to stop by the bell desk/valet to pre-pay for parking when you check in.  The hotel will give you a parking pass for the duration of your stay.  If you are attending this course as a day student, you will need to have your ticket validated each day. 


    Airport Shuttle: Complimentary round-trip airport transportation to and from the hotel is provided daily between 4 a.m. - 11 p.m.  Please contact the hotel at 615-885-2200 to request shuttle service during these hours. 


    Tuition:

    Tuition includes a downloadable PDF of the class material.  It does not include a hard copy of the material.  If you want a hard copy of the material for this course mailed to you, you must pay an additional fee + the cost of shipping. 


    Course Material:

    Course material is automatically provided to ALL Students via the download option.  Please bring your computer or other device to class and have the downloaded material or printed copy of the material with you when you get to class.  If you would like to receive a printed copy of the course material, you will have an option during the registration processs to order it.

      **Students requesting printed material will be charged a material fee + Shipping in addition to the cost of tuition.  (Note: If you do not receive your material shipment in time for the course, please download or print a copy of the material from the "Education and Events" section of your AI Account). 


    There will be a charging station in the classroom for your device(s).  If you did not pay an additional fee to have the class materials shipped to you, you must DOWNLOAD the material for this class.


    Here is how to download our material for this class:

    Login to your Appraisal Institute Account at www.appraisalinstitute.org

    Once logged in, make sure to click the "My Account" button on the top right of the page.  It is a green button.

    Click "Education & Events" and then find the title of this class.

    You will be taken to a list of all the AI Classes you have attended.

    Find this class title...

    Click "View".

    You can download your material there. 


    There will not be hard copies of the material available for purchase or pickup on site.  You must come to class prepard with your material.



    HOTEL RESERVATIONS: A special discounted nightly rate of $155.00 has been arranged for your stay at the Sheraton Music City Hotel.  Please click HERE to book your room reservation. 


    Please Note: Room reservations must be made by the cut-off date of October 11, 2024 in order to guarantee this rate.  Please contact the hotel (not the chapter!) directly at 615-885-2200 if you are trying to make a reservation after the cut-off date.  The hotel may be able to extend the group rate to you if their occupancy allows, but again, the discounted rate is only guaranteed until the date of October 11, 2024


    Parking: Parking at this hotel is available to students at a discounted rate of $5 per day.  If you have a vehicle and are staying at the hotel for this course, you will need to stop by the bell desk/valet to pre-pay for parking when you check in.  The hotel will give you a parking pass for the duration of your stay.  If you are attending this course as a day student, you will need to have your ticket validated each day. 


    Airport Shuttle: Complimentary round-trip airport transportation to and from the hotel is provided daily between 4 a.m. - 11 p.m.  Please contact the hotel at 615-885-2200 to request shuttle service during these hours.