General Appraiser Income Approach

4.31 Average Rating

5 stars
4 stars
3 stars
2 stars
1 stars
General Appraiser Income Approach has earned an average of 4.31 out of 5 stars from 593 ratings.
This course is designed to fulfill the Qualifying Education requirements of the Appraiser Qualifications Board of The Appraisal Foundation for the course titled: General Appraiser Income Approach. 

It is a course founded in theory and mathematics, and will require the usage of a financial calculator. The calculator taught in this course is the HP-12C.  Training on the use of the calculator is an integral part of the course, and all provided keystrokes and solutions will be based on that calculator. Keystrokes are based on the original “gold” version of the calculator, but the newer “platinum” version will work also. Students who choose to use another calculator must be proficient in the operations of that calculator, as tutoring will not be provided.

There is a required 5 hour exam at the end that must be taken in a monitored classroom setting.

Chapter list:

1. The Foundation of the Income Approach
2. The Fundamental Concepts of the Income Approach
3. Mathematical Procedures
4. Compound Interest
5. The Six Functions of a Dollar
6. Characteristics and Uses of Compound Interest Concepts
7. Lease Analysis: Identifying the Players and their Interests
8. Lease Analysis
9. Types of Leases
10. Relationships Between the Lease Interests
11. Analyze Income from Investment Properties
12. Income, USPAP, and the Appraisal Process
13. Collecting Income Data
15. Vacancies and Collection Losses
16. Effective Gross Income
17. Classifications of Expenses
18. Variable Expenses in the Appraiser’s Reconstructed Operating Statement
20. Net Operating Income
21. A More Involved Discussion of Direct Capitalization
22. Land Residual Technique and Mortgage Residual Technique
26. Yield Capitalization and its Components
27. Different Property Types and how they Compare
28. A Few issues on the Different Property Types
29. Characteristics that Impact Marketability, Utility, and the Value of a Property
30. Real Estate Investments
31. Half Way Point
32. Discounted Cash Flow
33. Discounted Cash Flow Analysis Theory
34. USPAP and Discounted Cash Flow Analysis
35. Case Studies
37. Yield Capitalization
38. Yield Capitalization
39. Helpful Definitions of Yield Rates
40. Net Present Value
41. Introduction to Partial Interests
42. Partial Interest Categories
43. More Information on Partial Interests
44. Easement Appraisal
45. Definitions
52. Reviewing the Income Approach
54. Comprehensive Case Study
56. Conclusion
14. Let’s Practice the Preaching
19. Reconstructed Operating Statement Case Studies
23. Band of Investment Land-Building Formula and the Debt Coverage Ratio
24. All about the Math
25. Case Study Practice
36. Financial Calculator Storing
46. Case Studies Chapter
47. Case Studies Chapter
48. Case Studies Chapter
49. Case Studies Chapter
50. Case Studies Chapter
51. Case Studies Chapter
53. Case Studies
55. Comprehensive Case Study 2

Appraisal Upgrade Course Ratings and Reviews

McKissock is rated 4.3 out of 5 by 593.
Rated 5 out of 5 by from Very thorough, easy to follow, small chapters to learn at a good pace.
Date published: 2020-04-04
Rated 1 out of 5 by from This is absolutely the worst class I have taken with McKissock. Information was not taught in a logical way. There were never enough examples, especially in the most difficult sections of DCF and Yield Cap. I was totally lost going through those chapters and basically just skipped them in the hope that better information would be given in the practice exams and case studies at the end of the course. I emailed the instructor multiple times pleading for help and never heard back once. They NEVER give enough practice problems for these very difficult concepts. Students need as many practice problems as possible to cement these formulas and calculator key strokes. It is extremely frustrating to read a new concept and attempt to work a problem, only to be given the formula for the problem in what looks like a foreign language with no calculator key strokes provided. This was a nightmare in the yield cap chapters. I could say much more, but I doubt McKissock will ever allow my review to be read by any current or future students.
Date published: 2020-03-21
Rated 5 out of 5 by from Convenient, quality education, as always. Learn at my own pace.
Date published: 2020-01-29
Rated 4 out of 5 by from Very convenient. You can access it from pretty much any computer or mobile device (a pretty big deal considering some use online schools still use adobe flash which has been obsolete for a long time). A simplistic interface that appears to be light weight. It isn't gaudy, and is exactly what is needed to get the job done.
Date published: 2019-10-06
Rated 5 out of 5 by from This course was well written and designed to aid the student in learning the course work proficiently. I will continue with additional classes through McKissock!
Date published: 2019-03-27
Rated 2 out of 5 by from If your an Appraiser Trainee, you better put in more than the minimum 60 hours it calls for to get this course completed before you actually can figure out what your doing and be able to remember everything from the beginning of the course on by the time you get to the end of it, if your mind is anything like mine which took me over 500 hours and going through the material twice. The second time as a refresher, but I am only a '94 Texas A&M CS BS Degree Grad. Unless your willing to dedicate ample time to doing nothing but working on this course, it is way too long for someone like me having to work two jobs and still be able to raise your kids with proper supervision all at the same time. This course really needs to be split up into two courses!!
Date published: 2019-02-22
Rated 5 out of 5 by from McKissock is absolutely top notch in my opinion! The course and materials are presented in such a way that even rival the Appraisal Institute!
Date published: 2018-12-26
Rated 3 out of 5 by from Good Course. I would recommend some familiarity with the HP-12c before enrolling. It is well covered in the class, but I didn't always like going in the same step-by-step manner as the instructor, knowing the 12c helped a lot. Fantastic class.
Date published: 2018-12-20
Rated 5 out of 5 by from Great course, I learned valuable appraisal procedures that I was able to apply to my day-to-day practice immediately. I highly recommend this course.
Date published: 2018-12-11
Rated 3 out of 5 by from Found a lot of the quizzes asked questions regarding information that had not been touched on at that point. Most quiz questions are well done, but there are numerous questions I came across that are either intentionally misleading/tricky or have incorrect information.
Date published: 2018-10-09
Rated 4 out of 5 by from This course was a necessity for my completion of my licensing as a Certified General. Have already had 2500 hours of on the job training and wish I'd taken this course earlier in my work experience. Would have understood quite a bit more of the processes that were occurring in the income approach. Feel much more confident in this area of the appraisal report.
Date published: 2018-07-24
Rated 2 out of 5 by from too long
Date published: 2018-06-21
Rated 4 out of 5 by from This course was easy to use and convenient, exactly what I expected.
Date published: 2018-06-20
Rated 3 out of 5 by from This course should be about methodology and techniques but it includes a lot of information that is covered in other courses and therefore unnecessary. Many of the quiz questions are either repeats or simply re-arrangements of sentences. The material also seems outdated as many of the methods have gone out of regular use ("Band of Investment" for example.)
Date published: 2018-06-10
Rated 5 out of 5 by from I enjoyed the course and will reference it in the future in my appraisal career.
Date published: 2018-05-23
Rated 4 out of 5 by from Please provide the solutions and formulas regarding how to obtain each of the variables in the Ellwood formula, as it took 6 hours of searching the internet to do so.
Date published: 2018-05-20
Rated 3 out of 5 by from I did not enjoy the class, first time in 25 years of using McKissock I had an unhappy experience.
Date published: 2018-03-31
Rated 4 out of 5 by from Overall a good class.
Date published: 2018-01-17
Rated 5 out of 5 by from This course makes more sense than the AI classes. Very practical.
Date published: 2017-10-28
Rated 5 out of 5 by from Honestly, much better than taking a class through AI. This was an update to date, easy to follow and well organized course!
Date published: 2017-07-24
Rated 5 out of 5 by from The course was well organized and thorough.
Date published: 2017-07-20
Rated 5 out of 5 by from The course is a lot of material to cover, the quizzes really helped!
Date published: 2017-06-18
Rated 5 out of 5 by from Mckissock is the best online school I've used in my 13 year career. I can always talk to someone on the phone if I need to and my issue are always resolved immediately. I will continue to use McKissock for my future CE needs.
Date published: 2017-05-18
Rated 5 out of 5 by from Great class. The case studies at the end really helped to pull together everything that we learned throughout.
Date published: 2017-05-08
Rated 5 out of 5 by from This is a very comprehensive and challenging course which will be very useful in my appraisal career.
Date published: 2017-05-03
Rated 5 out of 5 by from Very nicely done. Really enjoyed the internet fieldtrips!
Date published: 2017-03-13
Rated 5 out of 5 by from I only use Mckissock for all my education. They are the best!
Date published: 2017-02-08
Rated 5 out of 5 by from The course was well organized, user friendly, and provided valuable information.
Date published: 2017-02-06
Rated 5 out of 5 by from Very challenging great information. I had a good experience.
Date published: 2016-11-14
Rated 4 out of 5 by from Overall, very beneficial course to help understand the income approach as well as where the information used in the approach is derived from.
Date published: 2016-10-13
  • y_2020, m_10, d_25, h_16
  • bvseo_bulk, prod_bvrr, vn_bulk_3.0.12
  • cp_2, bvpage2n
  • co_hasreviews, tv_526, tr_67
  • loc_en_US, sid_MCK-1836, prod, sort_[SortEntry(order=SUBMISSION_TIME, direction=DESCENDING)]
  • clientName_mckissock
  • bvseo_sdk, p_sdk, 3.2.1
  • CLOUD, getContent, 102.68ms

Is there a hard copy textbook? Does the text book provide key strokes for solutions? Does the textbook provide answers to test questions so that I can check my work?

Asked by: M. Huffman
All of our courses will be done entirely online. There are a few exceptions, depending on the profession or type of education. However, generally it is online only.
Answered by: McKissock
Date published: 2020-04-22
  • y_2020, m_10, d_26, h_16CST
  • bvseo_bulk, prod_bvqa, vn_bulk_3.0.12
  • cp_1, bvpage1
  • co_hasquestionsanswers, tq_1
  • loc_en_US, sid_MCK-1836, prod, sort_[SortEntry(order=LAST_APPROVED_ANSWER_SUBMISSION_TIME, direction=DESCENDING)]
  • clientName_mckissock
  • bvseo_sdk, p_sdk, 3.2.1
  • CLOUD, getContent, 33.81ms