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General Appraiser Income Approach/Part 2

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Date
On Demand
Instructor
David C. Lennhoff, MAI, SRA, AI-GRS
Kenneth G. Foltz, MAI, SRA
Larry T. Wright, MAI, SRA, AI-GRS
Class Time
27 hours
Exam Time
3 Hours

Course Description

After a diagnostic quiz on the six financial functions of one and a brief review, the course begins with a thorough treatment of discounted cash flow (DCF) analysis. Topics include identifying components of a DCF, projecting cash flows, analyzing leases, solving for value in a variety of common situations, and supporting the discount rate. The effects of debt financing, including cash equivalence ...

Who Should Enroll

  • Those seeking general real property appraiser certification
  • Underwriters
  • Lenders
  • Assessors

AI CE Points

Attend:
175
pts
Attend & Pass Exam:
225
pts
Pass Only:
200
pts

Course Objectives

  • Forecast incomes and expenses for a multiyear holding period.
  • Forecast reversions for a multiyear holding period.
  • Discount overall mortgage and equity cash flows to present value.
  • Use yield capitalization formulas to calculate present value.
  • Use data and sources to select and support risk-adjusted discount rates.
  • Solve problems in lease analysis, risk and investment analysis, leverage, and subdivision analysis.
  • Value partial interests.

Additional Course Offerings

SponsorDateLocationFormatDetailsRegistration
October 26 - November 4, 2026New York, NYClassroomView DetailsRegister
December 1-11, 2026Synchronous (Live Online)SynchronousView DetailsRegister
April 19-22, 2027Louisville, KYClassroomView DetailsRegister

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Professional Community find an appraiser

Online Licensed Residential Appraiser Package

$2476.90

<p>Subtext is optional. Courses in checklist also optional. Image is optional. Buttons are optional. Should be side-by-side.</p>

Online Discounted Package: 15% Off

This package includes:

  • You "Auto" Know Better! - Valuation of Automobile Dealerships and Fuel Service Properties
  • Viewpoint of the Real Estate Market + Installation & Retirement Celebration
  • Valuation Overview of Accessory Dwelling Units

package list

Professional Community find an appraiser

Online Licensed Residential Appraiser Package

$2476.90

<p>Subtext is optional. Courses in checklist also optional. Image is optional. Buttons are optional. Should be side-by-side.</p>

Online Discounted Package: 15% Off

This package includes:

  • You "Auto" Know Better! - Valuation of Automobile Dealerships and Fuel Service Properties
  • Viewpoint of the Real Estate Market + Installation & Retirement Celebration
  • Valuation Overview of Accessory Dwelling Units
This image features the Rocky Mountains in Colorado, specifically showing a scenic road winding through the landscape. with the Appraisal Institute Colorado Chapter Logo

Online Appraiser Trainee Licensing Package

$1201.90

Online Discounted Package: 15% Off

  • Michael J. Acquaro-Mignogna

    MAI, SRA, AI-GRS

    President

    Michael J. Acquaro-Mignogna, MAI, SRA, AI-GRS, of Wayne, Pennsylvania, is the 2026 president of the Appraisal Institute. He will serve his one-year term as president in 2026, and as immediate past president in 2027. He will also serve on the Appraisal Institute’s Executive Committee and on its policy-setting Board of Directors through 2027.

    After studying piano for nearly two decades and graduating from University of Pennsylvania with a degree in music, a position at a mortgage brokerage firm led to an introduction to the appraisal profession, including the Appraisal Institute. Mignogna began his work as a residential appraiser in 1986 and as a commercial appraiser in 1987, leading up to the founding of his firm, Mid-Atlantic Valuation Group, Inc. Licensed as a Certified General Appraiser in Pennsylvania, New Jersey and Delaware, Mignogna has given expert witness testimony to many state and U.S. courts throughout the region.

    Mignogna served as 2013 President of the Philadelphia Metropolitan Chapter of the Appraisal Institute. He also served on the National Board of Directors from 2017 through 2023, where he served as Chair of the Professional Liability Insurance Program Committee and Audit Committee.

  • Michael J. Acquaro-Mignogna

    MAI, SRA, AI-GRS

    Vice President

JD, MAI, AI-GRS

Immediate Past President

MAI, SRA

chapter

MAI, AI-GRS

board-member-vailas-tonia

Luke Matthew Lonneman

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