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Course: Advanced Income Capitalization

November 6, 2023 - November 10, 2023

Instructor:  Gary S. DeWeese, MAI

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 values that are prospective
    and subject to hypothetical

This course is in the Real Estate Analyst Professional Development Program. View this list of FAQs, which includes information regarding the courses you’ll need to complete the program successfully.

Important Note: Mandatory Diagnostic Test
Before enrolling in this or any other MAI designation course, you must take a diagnostic test. The Excel diagnostic tests your mastery of solving appraisal problems using spreadsheets. This diagnostic test was intentionally designed to be challenging and ensure participants have adequate Excel skills before taking MAI designation courses. For more information, check out the Diagnostic FAQ.

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.

This course implements a blended learning approach, which includes:

  • A pre-class, 2-hour online session
  • 30 hours of traditional classroom education
  • A 3-hour exam on the 5th morning begins at 8:30am

Early Registration Required.  Registration is Now Closed

Appraisal Institute Designated Members, Candidates for Designation and Practicing Affiliates – $1,000
Standard / Non-AI Professionals – $1,300

Planning Ahead? More Advanced Courses for Certification or Designation on the Horizon

Quantitative Analysis
– February 2024
Advanced Concepts and Case Studies – April

Request more information


November 6, 2023
November 10, 2023
Event Category:


Associated Right of Way Services, Inc.
1255 Treat Boulevard
Walnut Creek, CA 94597 United States
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