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Advanced Income Capitalization

    Date: August 19 - 23, 2019   Location: Atlanta, GA
 
  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  
Gary P. Taylor, MAI, SRA  
James D. Vernor, PhD, MAI  
    
 
  Location  
Name  Atlanta Realtors Center  
Address  5784 Lake Forrest Drive  
City  Atlanta  
State  GA  
Zip  30328  
 
Click Here to check state approvals
    
 
  Sponsor / Contact  
Chapter  Atlanta Area
Website  www.aiatlanta.org  
Contact Name  Suzanne S. Brockway  
Email  sbrockway@aiatlanta.org  
Phone  (770) 803-0024  
Fax  (000) 000-0000  
 
  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, Candidates for Designation and Practicing Affiliates 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.

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

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.


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
  • Up To 15 days prior to program start date, $25.00 cancellation fee.
  • 7 - 14 days prior to program start date, $50.00 cancellation fee.
  • Less than 7 days prior to program start date, forfeit of payment.
  Transfer Policy
  • Up To 15 days prior to program start date, $25.00 transfer fee.
  • 7 - 14 days prior to program start date, $50.00 transfer fee.
  • Less than 7 days prior to program start date, no transfer allowed.
  Program Material Policy

Beginning 4 weeks before the offering start date, program material will be shipped directly to the student. If this material has been shipped and you request a registration cancellation, you will automatically be charged a $25.00 fee and you may keep the material. Once the fee is charged, your refund will be processed. Material returns are no longer accepted. Contact the offering sponsor for more information.
  • Cancel Offering, $25.00 material fee.
Enrollment is on a first-come, first served basis. If the education program is filled, e-mail sbrockway@aiatlanta.org to be placed on a waiting list.

The Atlanta Area Chapter Appraisal Institute is not responsible for students' non-refundable airline reservations, lodging, or other expenses incurred by the student. The Atlanta Area Chapter Appraisal Institute is not responsible for the quality of lodging facilities.

If you have a disability and require accommodation, please notify the Atlanta Area Chapter office at least two weeks in advance and we will arrange for reasonable accommodation.

Enrollment Cancellation Policy:
If a student wishes to cancel enrollment, a cancellation notice must be submitted in writing via email sbrockway@aiatlanta.org. A confirmation of the cancellation will be e-mailed to the student once it is processed by the Chapter office. See course details regarding cancellation fees. This confirmation will serve as your receipt.

Course Materials:
Course materials can be downloaded by the student or can be shipped directly to the student. If you choose to have the material shipped and do not receive your materials within 5 days before the offering start date, please contact the chapter office at sbrockway@aiatlanta.org so we may arrange for your materials to be available onsite.


Program materials can be downloaded by the student or can be shipped directly to the student. If you choose to have the material shipped and do not receive your materials within 5 days before the offering start date, please call the sponsor to inform them.
 
  Additional Information  
Upon completion of registration, you will receive an enrollment confirmation/receipt via e-mail. Look out for the e-mail and save it for future reference via a print out or save to your smartphone.

Note: With material download only option, printed materials will NOT be shipped to you or available onsite. It is your responsibility to have the documents available in class on a digital device or printed and brought with you.

Please review the FAQs for important information regarding registration and cancellation deadlines; mandatory diagnostic test; online session; course equivalencies. Follow this link: http://www.appraisalinstitute.org/assets/1/7/MAI_Designation_Education_FAQs_for_participants.pdf

REQUIRED DIAGNOSTIC TEST: The diagnostic test must be passed before students can register for this advanced education course. We require that students take the test at least 21 days before the classroom session of the course begins. Follow this link to take the free test: http://www.appraisalinstitute.org/education/AETEST.aspx.

CLASS LOCATION:
ATLANTA REALTORS CENTER
5784 Lake Forrest Drive
Atlanta, Georgia 30328
Phone: (404) 250-0051
Web Site: www.atlantarealtorscenter.com

Lodging Options: http://aiatlanta.org/wp-content/uploads/2015/10/Suggested-Hotels-near-Atlanta-Realtors-Center-ATLAI.pdf

Map: To view these hotels charted on a map, follow this link: http://www.mapquest.com/?version=1.0&hk=3-sB2KlZgL

COURSE SCHEDULE & DEADLINE DATES:
Prior to the first day of class, a separate 2-hour online session is required. The online session is available 28 days before the classroom session begins. The online session ends 2 days before the classroom session begins.

JULY 22, 2019 (28 days)
2-hour online session begins

(21 days)
Last day to register for the required diagnostic test and submit.

(14 days)
Last day to receive a pass confirmation on diagnostic test
Last day to register for the course with printed materials

(7 days)
Last day to cancel registration with -0- refund

(5 days)
Last date to register for the course


(2 days)
Last day to complete 2-hour online session

AUGUST 19-22, 2019
Classroom Instruction, 8:30 a.m.-5:00 p.m.
Lunch is on your own each day.

AUGUST 23, 2019
Exam, 8:30 a.m. – 11:30 a.m.

EXAM GRADING POLICY (7 Business Days):
The Appraisal Institute's national office will e-mail exam results and certificates of attendance to the students within 7 business days from the date the exams are received at the National Appraisal Institute office.

ATTENDANCE POLICY & EXAM:
To receive credit, 100% attendance is required for all Appraisal Institute education programs. Students should not be late or leave early; if they are late or leave early, they will not receive credit. The Georgia Real Estate Appraisers Board requires 100% attendance of the classroom and online time and a passing grade on the exam (75%). Partial credit is not awarded. If you are taking this course for continuing education credit only for the renewal of a current Georgia appraiser classification, the exam is not required. Click here for state approval verification: http://www.myappraisalinstitute.org/education/statecert_prgrm.aspx?id=501GD

Hours
35 (2 online, 30 classroom, 3-hour exam)

AI CE Credit for Designated Members, Candidates for Designation, and Practicing Affiliates
• Attend Only = 275 points
• Attend and Pass= 375 points
• Pass Exam Only = 325 points

Required Equipment
• Laptops (recommend external mouse)
• 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.

Follow this link for equipment details: http://www.myappraisalinstitute.org/education/course_descrb/default.aspx?prgrm_nbr=501GD&key_type=C

STATE APPROVALS:
Review a list of state approval status here: http://www.myappraisalinstitute.org/education/state_aprv.aspx

TEXTBOOK ORDERING INSTRUCTIONS (for recommended reading):
To order books and other materials, go to our online store here: http://www.appraisalinstitute.org/store/

QUESTIONS:
E-mail Suzanne Brockway at sbrockway@aiatlanta.org.


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  Hotels plotted on a map  

 

 
















 
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