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Advanced Income Capitalization

    Date: April 1 - 5, 2019   Location: Pittsburgh, PA
 
  Course  
Category  Capitalization [Cap]  
Level  II  
Attendance Hours  32.0  
Exam Hours  3.0  
Current Price  $ 800.00 AI Price  
$ 1,100.00 Full Price  
 
  Instructor  
Rick L. Carlile, MAI  
    
 
  Location  
Name  Holiday Inn Express/Suites - Greentree  
Address  875 Greentree Road  
City  Pittsburgh  
State  PA  
Zip  15220  
 
Click Here to check state approvals
    
 
  Sponsor / Contact  
Chapter  Pittsburgh Metropolitan
Website  www.pghai.org  
Contact Name  Kari Ballenger  
Email  karib@realtorspgh.com  
Phone  (412) 563-1900  
Fax  (412) 563-0255  
 
  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 note Designated Members and Candidates for Designation will receive the discounted AI Price for Advanced Education courses: Advanced Income Capitalization, Advanced Market Analysis and Highest and Best Use, Advanced Concepts and Case Studies, and Quantitative Analysis. All others will pay full price.

For more information on how to become a Candidate for Designation, click here.

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

• MAI Designation course
 
  Equipment  
• Laptops (external mouse recommended)
• Spreadsheet program: Excel 2007 (participants can use other spreadsheet programs, but those programs won’t be supported in class; demonstrations will be done in Excel)
• Calculators. A financial calculator is required. The accepted model used in the course is the HP-12C. Note: Cellular phones, tablets, iPads, and other devices that connect to the Internet are NOT permitted during the exam.
• You must be familiar with basic Excel and calculator operation when the course begins. Answers to problems in course material are shown using Excel and the HP-12C. Do not come to class expecting to be taught how to use Excel or a financial calculator.
• Free Review: Using a Financial Calculator; Formulas, Symbols, Math Review, and Sample Problems and Financial Calculator Practice Exercises
• For additional help with the HP-12C calculator, take our online seminar, Using Your HP-12C Financial Calculator.
 
  Prerequisites  
Required:
Advanced Education Diagnostic Test
Basic Appraisal Principles
Basic Appraisal Procedures
15-hour National USPAP

RECENT successful completion:
General Appraiser Income Approach/Part 1
General Appraiser Income Approach/Part 2

Recommended:
Using Spreadsheet Programs in Real Estate Appraisals - The Basics or similar course/seminar

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  
  Brochure  
  Capitalization Theory and Techniques Study Guide, 3rd ed.  
  Rates and Ratios Used in the Income Capitalization Approach  
  The Dictionary of Real Estate Appraisal , 6th ed.  
 
  Disclaimer  
Cancellation Policy
  • $150.00 cancellation fee.
  • Less than 7 days prior to program start date, forfeit of payment.
       


Program materials can be downloaded by the student.
 
  Additional Information  
Course location:
Holiday Inn Express/Suites - Greentree
875 Greentree Road
Pittsburgh, PA 15220

Check in: 8:00-8:30am

Class begins: 8:30am

Tuition includes class materials, coffee, tea and water...no other food included. Students are on their own for lunch.

Hotel Accommodations:
For room accommodations contact the Holiday Inn Express/Suites [formerly the Best Western), 875 Greentree Road, Pittsburgh PA 15220 (412-922-7070). Room rate of $109 per night, advise that you are with the Appraisal Institute when making your reservation. OR follow the link below.
The Holiday Inn offers a continental breakfast, free Wi-Fi, fitness room and pool. As well as complimentary airport (PIT), in town and local shuttle service to their quests.

Certificates of Completion will be e-mailed from the National office in Chicago within fifteen (15) business days after the completion of the course.

Any questions contact Kari Ballenger at 412-563-1900 or karib@realtorspgh.com



  Holiday Inn Express/Suites  

 

 
















 
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