The course covers topics such as application of the six functions of $1, underlying income approach definitions and concepts, construction of the income and expense statement, direct capitalization theory and techniques, introduction to yield capitalization, discounting, lease analysis, building and land residual analysis, and straight-line recapture theory and techniques. These topics are discussed with a distinct bent toward the sometimes unique aspects of rural property valuation. Concepts are reinforced through classroom discussion, drill problems and periodic diagnostic quizzes. After successful completion of this course, the student will be prepared for the more advanced topics discussed in the second 30 hour Income Approach module. This course is specifically designed as the introductory course to the Income Approach which meets 30 of the 60 hours required by the Appraiser Qualifications Board for Qualifying Education for General Certified Appraisers.
Please Note: This course is designed to follow Basic Appraisal Principles and Basic Appraisal Procedures. It is assumed the student has already gained the level of knowledge and understanding that is taught in the lower level classes.
Required Equipment & Textbooks: HP-12c, Hp-17bII or HP-19bII calculator; Appraisal of Rural Property, 2nd Edition
Optional Textbooks: Appraisal of Real Estate, Thirteenth Edition; Dictionary of Real Estate Appraisal, Fifth Edition
Contact Hours: 27 hours + 3 hour exam
Course Timetable: Days 1-3: 8 AM – 5 PM; Day 4: 8 AM – 4 PM
AQB Licensure Requirement: Certified General
Accreditation: This course is required for the ARA and the RPRA
Instructor/s: Mark Lewis, ARA, RPRA; Dave Nebel, ARA
List of Approvals
All cancellation requests must be in writing to DIlk@asfmra.org.
- Prior to April 23: $25 cancellation fee
- April 23-May 6: $50 cancellation fee
- No Shows will forfeit all registration fees.
- Transfers or substitutions can be done prior to the course date.
Hilton Garden Inn Denver Cherry Creek
600 S Colorado Blvd
Denver, CO 80246
A discounted rate of $119 + tax per night is available until April 23, 2018. The discounted rate will be available a few days before and after the course dates to work with your travel schedule.
Additional Perks with the discounted rate include:
- 1 breakfast voucher for each room night booked.
- 1 $5 hotel voucher.
- Complimentary WiFi
- Complimentary valet or garage parking
Online Reservations: Click here to book online reservations.
Call In Reservations: The hotel's main number is 303.754.9800. If you call the hotel to make your reservation, please be sure to reference ASFMRA to obtain the group rate.
The hotel is approximately 25 miles from the airport. Anticipate 45 minutes for travel time between the airport and hotel. It is recommended that you arrive to the airport at least 90 minutes prior to your scheduled departure time. Here are a few ground transportation options.
Super Shuttle| Average cost $25 one way. Reservations required and can be booked at supershuttle.com.
Hotel Car Service | Average cost $65 one way. Reservations required and can be booked by calling the hotel at 303-754-9800.
Uber | Average cost $65 one way. Download the app and book a trip at uber.com.
Taxi | Average cost $70 one way. Cabs readily accessible at the airport. Call one of the cab companies listed in this link to schedule your return trip to the airport. http://www.flydenver.com/parking_transit/transit/taxis