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    Advanced Income Capitalization

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    August 5-9, 2024 Branchburg, NJ
    Date
    August 5-9, 2024
    Sponsor
    Metro New Jersey Chapter
    Chubb Risk Engineering Center, 35 Columbia Rd. Location
    Branchburg, NJ
    Instructor
    Vincent M. Dowling, MAI, SRA
    Class Time
    30 hours
    Exam Time
    3 Hours
    Full Price
    $1,300.00
    AI Price
    $1,000.00
    Enroll by August 6!
    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
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    MS CE 30 30 Classroom Classroom 09/01/2023 07/27/2025 MAB #49302
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    MT CE 30 30 Classroom Classroom 09/01/2023 06/13/2026 REA-CEC-REC-16801
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    TN CE 30 30 Classroom Classroom 05/01/2024 04/30/2026 1388
    TN CE 30 30 Classroom Classroom 05/01/2024 04/30/2026 1388
    TN QE 33 30 3 Classroom Classroom 05/01/2023 04/30/2024 1388
    TN QE 33 30 3 Classroom Classroom 05/01/2024 04/30/2026 1388
    TX CE 33 30 3 Classroom Classroom 10/01/2022 08/31/2025 TX Provider #:10 Course #:44089
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    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
    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
    Tennessee Chapter November 11-15, 2024 Nashville, TN Classroom View Details Register
    Event Information

    Classes run from 8:30 am to approximately 5:00 pm Monday - Thursday


    3-Hour Exam is Friday from 8:30 am - 11:30 am


    Local Hotels (for more hotel options email the chapter office):


    Hyatt House (908) 704-2191 3141 Us Highway 22, Branchburg, NJ 08876


    Marriott Residence Inn (908) 725-9812 3241 Us Highway 22, Branchburg, NJ 08876