Advanced Income Capitalization

April 23, 2018

Register

Advanced Income Capitalization

Instructor: Gary DeWeese, MAI

Gary S. DeWeese, MAI, has been teaching real estate appraisal classes for more than 20 years, including advanced courses related to highest and best use and market analysis, and the income, sales and cost approaches.

Mr. DeWeese has an MBA from the University of California, Berkeley and is the former head of the real estate investment group for the UC pension and endowment funds. He is the founding principal of Real Estate Strategic Solutions, LLC, a real estate consulting firm.

His teaching style is to teach both concepts and applications in the clearest and simplest way possible, such that students will be able to intuitively master the material without having to memorize formulas. Students prefer this approach as evidenced by the very positive student evaluations that he has achieved over the years.

Course Overview

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

Syllabus

AI CE Credit

  1. Attend and Pass Exam = 375 Points
  2. Attendance Only = 275 Points
  3. Pass Exam Only = 325 Points

Type of Program

Designation Education

Prerequisites

MAI Education Diagnostic Test
Basic Appraisal Principles
Basic Appraisal Procedures
15-hour National USPAP
General Appraiser Income Approach/ Part 1
General Appraiser Income Approach/Part 2

Attendance Hours: 32
Exam Hours: 3
State Approvals: Search by State
Number of Components: 1
Total Number of Pages: 517
Level: Advanced
Type: General
For Further Reading: The Dictionary of Real Estate Appraisal , 6th ed.Capitalization Theory and Techniques Study Guide, Third EditionRates and Ratios Used in the Income Capitalization Approach

 

Location
Silver Cloud Inn, South Lake Union
1150 Fairview Ave N
Seattle, WA 98109

Guestroom Dates
4/21/2018 – 4/27/2018

Group Rates
King or Two Queen Bed Guestroom: $169
Lakeview King or Two Queen Bed Guestroom: $189
Rates above are net and exclusive of tax.
Upgraded room types are available at a premium rate and are based on availability.

Online Reservation Instructions
Please click on the GROUP link below:
APPRAGRP

Click here for directions

Schedule
Registration: 8:00 AM – 8:30 AM
Class: 8:30 AM – 4:30 PM

 

Register

Click here to register

If you would prefer to pay by check or are a government employee and will need an invoice or other considerations, contact the chapter office at (206) 622-8425.

Tuition

$800.00 Appraisal Institute Price
$1100.00 Full Price

Student Materials

Student materials for this course can be downloaded (save $15!) or picked up on site. Direct ship will not be available for this offering.

If you wish to review the materials in advance of the class, please note that ALL registrants have access to the student materials online as soon as they sign up.  The link to those materials will be at the top of your registration confirmation email.

Cancellation Policy

  • Up to 15 days prior to program start date, $50 cancellation fee.
  • 2-14 days prior to program start date, $75 cancellation fee.
  • Less than 2 days prior to program start date, forfeit of payment unless a student replacement is provided.

NOTE: If you have a disability and require accommodation, please notify the Appraisal Institute’s Seattle Chapter in writing at least two weeks in advance and we will arrange for reasonable accommodations. We reserve the right to cancel, limit, or reschedule the course and change faculty assignments and facility locations at any time. Prospective students should confirm their registration before making any non-refundable airline reservations.