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Advanced Income Capitalization

    Date: September 30 - October 4, 2019, Early Registration Required   Location: Lafayette, CA
 
  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 S. DeWeese, MAI  
    
 
  Location  
Name  Lafayette Library and Learning Center  
Address  3491 Mt. Diablo Boulevard  
   Arts and Science Room  
City  Lafayette  
State  CA  
Zip  94549  
 
Click Here to check state approvals
    
 
  Sponsor / Contact  
Chapter  Northern California
Website  www.norcal-ai.org  
Contact Name  Lisa M. Estes  
Email  lisa@norcal-ai.org  
Phone  (925) 932-7753  
Fax  (925) 932-7754  
 
  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 14 days prior to program start date, refund in full.
  • 7 - 13 days prior to program start date, $150.00 cancellation fee.
  • Less than 7 days prior to program start date, forfeit of payment.
      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.
Add "noreply@appraisalinstitute.org" to Your Email Acceptance List
Important reminders, changes, attendance verification, etc. will/may be sent to you from the following email - noreply@appraisalinstitute.org so be sure you are able to accept emails from this address.

Cancellation Policy
Written cancellations can be emailed to lisa@norcal-ai.org. We reserve the right to substitute instructors, change facilities or modify this program if sufficient registrations are not received by August 30 or due to other circumstances beyond our control. In the event of cancellation, tuition fees will be refunded. All other costs incurred are the registrant’s responsibility.

Special Accommodations
Special accommodations are available for individuals who have been professionally diagnosed as physically or learning disabled and can provide appropriate documentation in writing prior to the offering. Without advanced notification, accommodation may not be available.

Notice
Neither the Appraisal Institute nor the facility in which this event is being held is liable for lost or damaged items. This includes but is not limited to calculators, laptops, cell phones, etc. By registering for this event, you agree that your communications may be monitored or recorded at any time and that your contact information may be placed in a roster designed for networking purposes.



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  


Course Location
Lafayette Library & Learning Center
Arts & Science Discovery Room
3491 Mt. Diablo Boulevard (at First Street)
Lafayette, CA
925/283-6513

>>>>> Park onsite in the Library's Garage! The limited parking signs in the LLLC garage DO NOT APPLY to this offering; so take advantage of the onsite complimentary parking in the library garage.<<<<

Course Materials and Hours
Onsite check-in will begin at 8:00a.m. on Monday, September 24. “Live” course instruction will run from 8:30a.m. – 4:30p.m. September 24 – October 3. The 3-hour exam will be administered at 8:30a.m. on Friday, October 4. Those registered by September 16 will be sent hardcopy course materials (unless “download only” was selected).

SAVE $15 - Select the "download only" material option. NOTE: Those selecting the "download only" version of materials are strongly encouraged to either print or save them to your laptop hard drive in advance of the offering as Internet access cannot be guaranteed. Hard-copy materials will not be provided to those who select the "download only" option.

IMPORTANT: Deadlines, Dates & Required Pre-Course Assignments
September 2 - Official FIRST day of course -- the day the online session begins; 28 days BEFORE the actual classroom session begins
September 9 - Last day to register for and submit the diagnostic test; 21 days BEFORE the classroom session begins
September 16 - Last day to receive a “pass” confirmation on the diagnostic test; 14 days BEFORE the classroom session begins
September 16 - Last day to register for the course and receive PRINTED materials; 14 days BEFORE the classroom session begins
September 25 - NEW! Last day to register for the course and DOWNLOAD ONLY course materials; 5 days BEFORE the classroom session begins
September 28 - Last day to complete online session; 2 days BEFORE the classroom session begins

Required Equipment
LAPTOPS ARE REQUIRED. An HP-12C calculator is also required. Laptops should be pre-loaded with Excel 2007 or later (participants can use other spreadsheet programs, but those programs won’t be supported in class; demonstrations will be done in Excel). Students are responsible for bringing their own extension cords / power strips, paper & pen/pencil for taking notes and a No. 2 pencil for the exam.

Optional Texts
While the following texts are not required for this offering - they are great additions to every appraisal library and can be purchased directly from the Northern California Chapter - 925/932-7753.

The Appraisal of Real Estate, 14th ed
AI - $103
Standard / Non-AI - $135.50
Add $7.25 for advanced shipment of text

The Dictionary of Real Estate Appraisal, 6th ed (2015)
AI - $103
Standard / Non-AI - $135.50
Add $7.35 for advanced shipment of text

Text prices include CA Sales Tax. All texts are sent via U.S. Mail or UPS. Shipping fees do not apply to pre-reserved texts that are held for pick-up at onsite registration. To order texts, please contact the Chapter Office at 925/932-7753 or pat@norcal-ai.org by September 16.

Education Credit Hours
Full (100%) attendance is required for education credit; partial credit not available.

Appraisal Institute: Full attendance and successful completion of the course exam enables Designated Members and Practicing Affiliates to receive 375 points of AI continuing education credit; 275 points for full (100%) attendance only (no exam). Partial credit is not available. Note: Candidates taking this course to meet designation requirements must have full attendance and successfully complete the course exam.

BREA Basic/Qualifying: Advanced Income Capitalization is approved for appraisal subject matter electives; 35 QE/BE hours (#10754211). Full attendance and successful completion of the exam is required for elective QE/BE credit.

BREA Continuing: Advanced Income Capitalization is approved for 32-hours (#10754211) of BREA continuing education credit for licensed/certified appraisers seeking renewal credit. Full attendance (100%) is required. Successful completion of the exam is not required for BREA CEC.

Accommodations
The following hotels are within 1-5 miles of the Lafayette Library and Learning Center:

Diablo Mountain Inn - 925/937-5050
2079 Mt. Diablo Boulevard, Walnut Creek

Lafayette Park Hotel – 877/283-8787
3287 Mt. Diablo Boulevard, Lafayette

Embassy Suites at Pleasant Hill BART – 925/934-2500
1345 Treat Boulevard, Walnut Creek

Guest rooms have not been blocked at any of the hotels above. For additional lodging options in the Lafayette/Walnut Creek area visit http://www.walnut-creek.com/

Directions, BART & Parking
- For best results when using your navigation system, enter the complete/exact street address - 3491 Mt. Diablo Boulevard, Lafayette.
- Ample complimentary onsite parking is available underground in the library's parking garage (enter garage off of Golden Gate Way).
>>>> The limited parking signs in the LLLC garage DO NOT APPLY to this offering; so take advantage of the onsite complimentary parking.<<<<
- Take Public Transportation! The Lafayette Library & Learning Center is conveniently located in downtown Lafayette and is within walking distance of the Lafayette BART station.

Verification of Attendance
Verification of attendance will be sent directly to you via email from our National Office in Chicago. Attendees should allow 15 working days for receipt of these results. Watch for an email from "noreply@appraisalinstitute.org". The Chapter Office does not receive copies of your results. Those in need of Express Verification should complete the Express Grading Request Form with appropriate payment to the National Office prior to the conclusion of this offering.

Dress in Layers
Meeting room temperatures are often difficult to control. Therefore, for your comfort, we recommend that you dress in layers.


  View Complete Registration Brochure  

  Directions to the Lafayette Library & Learning Center  

  Local Lodging  

  More Advanced Education is Coming to Northern California  

 

 
















 
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