New Class On Appraising Convenience Stores

[Austin]

The AI is working on a new on line course on "Appraising Convenience Stores" and I am taking the class as a beta tester. It appears from others in the discussion group that there are only two of us betas.
This is one of the best, if not the bet and most informative CE class I have ever taken. Not only does it teach how to appraise C-Stores but it gives a good background in how to separate business, tangible, and intangible layers of value. Even if you never intend to appraise a convenience store you will really get a lot of this class.
This is the first class I have ever taken that I come out feeling like I can go out and apply what I learned in the field. Good instructor and good feed back. I highly recommend this class.
If you are going to do this kind of appraisal work, you have got to be good at market analysis. The AI also has an on line class on "Using Site To Do Business." These two courses can open doors for your future in appraising in my view. It is amazing how you can use market analysis even in residential work. For example, Friday I did an appraisal in which a Realtor was the purchaser buying a house to live in from another broker. As you might imagine, I came up well short, and as you might well imigane, the Realtor disagreed and provided three better comps. The subject was a two story. Two of her comps were ranchers with the same GLA and one was in a subdivision with double the average property value. I did a comparative analysis of the two census blockgroups for housing and highlighted the data that showed the subject subdivision had a value range of $80,000 to $125,000 and the other subdivision had a value range of $150 to $300,000. You can use market analysis to support all kinds of adjustments like location and economic obsolescence.

 

[Mexilady]

I Agree!

I took the class in person last summer and it was truly the best class I have taken in years. The instructor was great. He had visuals (including interviews with convenience store owners) and even gave us software he had designed to go along with the course. This guy travels the country appraising convenience stores and he really knows his stuff. The two textbooks that came with it are also excellent. I was in the middle of appraising a new convenience store when I took the class and was able to implement the techniques.

 

[DB]

I am also in this class, but haven't gotten started yet...

 

[George W Dodd]

I look foward to taking that on-line course. Check out the "Site to do Business" Seminar, you'll be amazed at the data available online. I'm just finishing the AI series of courses 510: Income capitalization (passed); 520: Highest & Best Use (passed); and 530: Sales Comparison and Cost Approach (in progress). A 120 hours in 6 weeks. It's been a real mental workout and a lot of fun, too.
Now is the time to re-tool, re-invent, and expand the services you can offer.

 

[Robert Dunkle]

I am also in this class, but haven't gotten started yet...

Ditto here. I, also took Condemnation and Eminent Domain and only want to work on one at a time! Just finished Condemnation Sunday, so will start work on C-Stores soon. Have to go to a hearing Thursday as part of the disciplinary committe, so I'm trying to finish the reports I have in the hopper.

 

[Robert Dunkle]

I look foward to taking that on-line course. Check out the "Site to do Business" Seminar, you'll be amazed at the data available online. I'm just finishing the AI series of courses 510: Income capitalization (passed); 520: Highest & Best Use (passed); and 530: Sales Comparison and Cost Approach (in progress). A 120 hours in 6 weeks. It's been a real mental workout and a lot of fun, too.
Now is the time to re-tool, re-invent, and expand the services you can offer.

Be careful, your mind will turn to mush! You must be a glutton for punishment. I took Basic Cap in January and Advanced Cap in April and that was a good time spread. I didn't forget everything, but I was able to get back to thinking again. Of course, at 60, I don't learn as fast as I did at 30.

 

[Scott Lanz]

George,

I have just finished 510, 520, 530, 540 and 550 over the last two years. Working on Demo and prepping for the comp atm. Just a hint for 540, there is a lot of typing so having a good workstation is a must if you travel out of town. Classes break around noon and I was typing well into the evening, midnight most days.

I just finished 550 two weeks ago. That wasn't so bad, some good case studies, and some not so good, but the homework was much, much less.

In regards to the STB, I have been using it heavily for the last 6 months for the exact reasons Austin stated along with providing forecasts for housing in my market. Using the info on supply/demand from 520 with the STB provides powerful data that I am seeing a strong response from in the market place.

Thanks for the heads-up Austin on the class. I attended the AI's 800 class on "Separating Personal Property and Business Value" and didn't' walk away with what I was hoping for in regards to smaller properties. Sounds like this class may fill that hole.

Scott J. Lanz

 

[George W Dodd]

Robert,

I had a brain cramp after the 510 four hour test. Nobody left the room before the time was up.

 

[Robert Dunkle]

Robert,

I had a brain cramp after the 510 four hour test. Nobody left the room before the time was up.

We had one person who was a recent, mathematics grad from OU who finished in 1 hr 15 min. Took Basic Cap. with the same guy and he finished that test in 45 minutes. When I left at 3 hrs 45 minutes, there were still 8 out of 14 who took the test. I did go back over it more than I would most because I wanted to be VERY sure of my answers. Was VERY glad when I got the notice I had passed. I had felt comfortable, but with those you never know.