Fundamentals of Income Property Valuation II further examines the techniques involved in estimating the value of property. A follow-up to Fundamentals of Income Property Valuation I, the course readings are from the required text, Income Property Valuation, 2nd Edition, written by Jeffrey D. Fisher and Robert S. Martin.

In Chapters 11-22, the course continues to study the topics such as the cost approach, leased fee and leasehold valuation, valuation of mortgage and equity interests, risk analysis, and tax considerations in income property valuation. The final lesson in this course involves a case study of an apartment appraisal.

You will need a calculator for this course.

Course Outline:

Lesson 1 (Chapters 11 and 12)

• Chapter 11 - The Cost Approach
• Chapter 12 - Leased Fee and Leasehold Valuation

Lesson 2 (Chapters 14 and 15)

• Chapter 14 - Investment Measures with Mortgage Financing
• Chapter 15 - Valuation of Mortgage and Equity Interests

Lesson 3 (Chapters 16 and 17)

• Chapter 16 - Valuation of Nontypical Mortgage Financing
• Chapter 17 - Risk Analysis

Lesson 4 (Chapters 18 and 19)

• Chapter 18 - Tax Considerations in Income Property Valuation
• Chapter 19 - Selecting and Supporting the Discount Rate

Lesson 5 (Chapters 20 and 21)

• Chapter 20 - Highest and Best Use Analysis: Applications
• Chapter 21 - Valuation of Proposed Projects

Lesson 6 (Chapters 22 and 23)

• Chapter 22 - Valuation of Distressed Properties
• Chapter 23 - Case Study: Appraisal of Bay Hill Apartments

Course Credit:
Completion of this course earns five points toward MBA's Certified Mortgage Banker (CMB), or Certified Mortgage Technologist (CMT) designations.