Iowa Chapter of the Appraisal Institute

and

Iowa Association of REALTORS ®

 Presents

 LOCATIONS

FUNDAMENTAL ANALYSIS OF INCOME PROPERTY

SEMINAR DESCRIPTION

The purpose of this seminar is to introduce participants to the fundamental techniques of direct capitalization and to support the mechanics of capitalization with an examination of the market factors that influence both the performance and value of income property. In essence, it is a learn-by-doing study that provides some discussion of why things work the way they do. Those who are not experienced in the analysis of income-producing property will learn the fundamentals, which serve as a stepping-stone to more in-depth studies, such as Appraisal Institute Course 310.

 Students who will benefit include:

·         Residential appraisers looking more into greater exposure to the world of commercial property appraising and consulting.

·         Brokers and agents, either commercial or residential, who want to understand why appraisers do what they do, and to take some of the mystery out of the process of formal analysis/valuation.

·         Real estate professionals such as attorneys, lending officers, underwriters, or accountants who want to gain a greater understanding of the fundamentals used by appraisers and consultants.

·        Commercial appraisers and consultants who benefit from a review of the fundamentals.

 The majority of the class is spent studying concepts one-by-one, and then solving related relevant problems. Concepts are presented in a combination lecture/open discussion format; the workbook contains example problems, which facilitate a hands-on ability to relate the concepts to the real world of income-producing real estate. The final class activity is a case study in which the student will apply all principles learned to the valuation of a shopping center.

 By the conclusion of the study, students will be able to perform well-reasoned analysis of income properties; understand gross income, expenses, and NOI; understand how to apply the direct capitalization process in light of actual market activity; and form a reliable conclusion as to value and performance of the property.

 No prerequisite studies are required. The participants should bring an HP-12C (or equivalent) calculator.

 ABOUT THE INSTRUCTOR

Jack L. Bailey, MAI, SRA, is the owner of Bailey Advisory Group (formerly Bailey Appraisal Group). His office is located in Nashville, Tennessee. Jack has provided fee appraisal, review appraisal, real estate advisory services, consultation, and authored and taught appraisal courses. In addition to instructing various appraisal seminars, his appraisal experience includes office; retail and shopping center; apartment; warehouse; industrial; large manufacturing; recording studio; restaurant; marina; development land; commercial land; residential subdivision; commercial subdivision; church; school; special use; residential, all types; mineral rights; airport hangers; and residential and commercial review. Jack’s experience as an appraiser and instructor should provide useful information for the practical application on income-producing properties for all enrolled in this seminar.

EDUCATION CREDIT INFORMATION

Seven (7) hours of continuing education credits have been granted for license and certification renewal in Iowa and Illinois, and seven hours of credit for the Iowa Assessors with an exam.

 Call, fax, or e-mail Marie Callas at the Iowa Association of REALTORS®, if you have any questions.

(Phone/Fax             515-453-1064/515-453-1070)

(E-mail                 marie@iowarealtors.com)

SCHEDULE

REGISTRATION FORM

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__ MAI    __SRA    __ SRPA    __ RM

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__ Quad Cities __ Des Moines

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