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AI Advanced Income Cap 2008

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Betsy M. Landrum

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Freshman Member
Joined
Sep 22, 2006
Professional Status
Appraiser Trainee
State
California
Hello!

I'm starting Advanced Income Cap through the Appraisal Institute tomorrow, and just wanted to check in and see if anyone has taken the "new" version in 2008, and what they thought.

I know this is about the hardest class I'll ever take, but if anyone has got some specific tips, I'd love to hear from you. Did your class get hung up on a particular section, for example? I've heard that Partitioning the IRR has been bad for some.

I know the AI re-wrote all or most of their classes in 2008, and I heard that Highest & Best Use, for example, did not turn out so well. I think this course is just a revision, and I heard it's slightly easier than before, but we shall see! My boss took the class from the original mathematician author 15 years ago and said it was the worst ever, and this is with a Berkeley MBA and Applied Math major, so you bet I'm scared!

Thanks in advance.
 
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Betsy M. Landrum

Thread Starter
Freshman Member
Joined
Sep 22, 2006
Professional Status
Appraiser Trainee
State
California
I used to have a signature, don't know what happened to it. At any rate, I am a trainee with 3,000 commercial hours taking my classes to get my AG and MAI later.
 

ghrousseau

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Joined
May 5, 2006
Professional Status
Licensed Appraiser
State
Virginia
Congratulations.............many here would love to be in your shoes.
 

TC

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Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
I took the old Cap I course about a hundred years ago, kicked my butt. Can only imagine how tough the newer ones are.

Good Luck!

(you'll need it!)


TC
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
I too took the class a bizillion years ago, however, there are concepts introduced in this course that some feel are out dated and do not relate well to every day valuation analysis. I feel that these concpts form the basis fo many of the newer approaches and if you are able to gain an undestanding of the concepts from this perspective it will provide a lot of insight into much of the current methodology.
 

Ken B

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Feb 18, 2004
Professional Status
Certified General Appraiser
State
Florida
Sometimes it is best just to believe and let understanding come with experience.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
I took the class about 3-4 months ago.
It was easier than I had expected; but I think this had to do with the fact that I had taken the Basic Income Cap course in January and the Advanced General Sales class in between the two (so, I had a lot of review).

Since I took the classes without having any Commercial Appraisal experience (which I am getting now), my level of pre-class and no-experience may be similar to your level of experience and classes some time ago!

Good luck!:new_smile-l:

(Who's the instructor, by the way?)
 

Thomas Fiehler

Senior Member
Joined
Jun 2, 2003
Professional Status
Certified General Appraiser
State
Ohio
Wow-talk about bringing up some old memories. I took the SREA course (2 week class) back in '89 and it was the hardest class I ever had. My experience was that just about everybody was lost until about mid week of the second week. Then you could just look around the room and see the light bulb (brain) go off and it seemed to all come together. I believe the test was 7 questions and we got to pick the 6 we would answer. I averaged about 90 minutes per question and it took me about 1 week to recover!
 

Scott Lanz

Member
Joined
Dec 13, 2002
Professional Status
Certified General Appraiser
State
Minnesota
It was the best, and worst class, I had going through all of the MAI classes. I think there were two questions where I couldn't even get the wrong answer. The test gives multiple right answers, with one being the best, and the most probable mistakes as answers on the math questions.

Good luck, no sleeping in that class.
 

Betsy M. Landrum

Thread Starter
Freshman Member
Joined
Sep 22, 2006
Professional Status
Appraiser Trainee
State
California
Thanks for the responses so far everyone! Yes, will need some kind of luck!

Denis - I took the Beginning Cap class 1.5 years ago, but just recently took General Sales Compairson and Cost Approach...maybe the small refresher will help. The told me to take Advanced right away, but I simply couldn't make it...

My teacher will be Harry Holzhauer. I had him for Sales Comparison, and he did a good job.

We'll see how it all pans out, but if you think of any other items, please post them.

Thanks again!
-Betsy
 
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