Appraisal Institute - Advanced Income

[MAIorBust]

I am taking this class in July. (My next to last class before I sit for my MAI comp exam in October. )

Can anyone here tell me how it compares to Income 2 from the A.I.? I am pretty nervous about it but plan on studying for a month before I take the class. Any insight would be helpful.

 

[Caligirl]

I don't recognize the title 'Income 2', perhaps this is an older name for the advanced income (which I've known as 'Advanced Capitalization' Cap 510, or Cap B)? Or is this a new course, I'm a bit out of the loop right now, toddler and all.

In the Advanced Capitalization course you will be dealing with the same methods as in 310 (or Part A) but in much greater depth, and dealing with tax issues which weren't introduced in 310 (with the exception of dealing with property tax deduction from income operating statements).

If you want to prepare check out the calculator keystroke prep from the AI website-

www.appraisalinstitute.org/education/downloads/fcale.pdf

 

[MAIorBust]

Right now the A.I. has three main income classes.

Income Approach Part 1 (satisfies general requirements)

Income Approach Part 2 (satisfies general requirements)

Advanced Income (satisfies MAI requirement)

 

[Pittsburgh Pete]

Here's the lowdown from the AI website relative to the Advanced Income course:

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

 

[CGgonnabee]

Significantly more difficult than Income II. Great that you can study quite a bit before the course. You will get more sleep than I did!

 

[MAIorBust]

I struggled with Income 2 but that was 2 years ago. Hopefully, I have a better understanding now. Thanks.

 

[incognito]

Pray you get a good set of instructors. I found that all of the AI Cap courses (albeit in the 1980's) were only as good as the instructor. I sought out the classes which had great teachers (and there were plenty), and avoided at all costs the ones with poor reputations as teachers. Not ALL good appraisers make Good instructors, regardless of how good the course information, texts, etc. are...

I would also recommend honing your skills on the HP12c!

 

[Thern Newbell]

Right now the A.I. has three main income classes.

Income Approach Part 1 (satisfies general requirements)

Income Approach Part 2 (satisfies general requirements)

Advanced Income (satisfies MAI requirement)

Income 1 and 2 used to be combined into one 6 day class if I remember correctly. I just missed out on that one and ended up having to take the two classes instead. Haven't taken Advance Income, but heard that it is a bear.

 

[Caligirl]

Income 1 and 2 used to be combined into one 6 day class if I remember correctly. I just missed out on that one and ended up having to take the two classes instead. Haven't taken Advance Income, but heard that it is a bear.

It was called 'Basic Capitalization/Cap A/310' back then, and it was a great class-all the basics and foundations for capitalization.

 

[PropertyEconomics]

I took the income classes back to back ... seemed to be most reasonable to me and worked out well. Its great information and hard work .. but my thoughts were going from one right into the next left the information fresh in my mind.

When I took them they were one week a piece .. sacrafice of money and lost work but, in my opinion, the best way to take this crucial duo of classes.