Value of MS in Real Estate Development from Columbia

General Real Estate Investing
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Value of MS in Real Estate Development from Columbia

Troy Viemeister
Hartsdale, NY · Member since 2013 · 1 post · 0 votes

I was recently accepted to Columbia University’s Masters in Real Estate Development program and am in the process of doing as much research as I can on the program and its value before I need to make a final decision (by April 15th).

I have been working for more than five years as an analyst with a top Economic Consulting firm , and during that time — predominantly outside of the office — I have developed a strong interest in real estate. I have purchased two relatively small investment properties in lower Westchester County (NY), completed my New York State Salesperson licensing requirements, taken an introductory course in real estate finance at NYU, and held a leadership position on the board of my condominium complex.

I do not have a clear sense of exactly what part of Real Estate I would like to go into, but I do have an interest in real estate investment , acquisitions, and analysis. Any advice you may be able to offer on the merits of a MS in Real Estate or on how to break into the industry — which I have struggled with for the past 1+ years — would be much appreciated.

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  • Pete Nater
    Investor · The Bronx, NY · Member since 2012 · 226 posts · 44 votes
    13y

    Don't know about Columbia's program but regarding RE investing: There are so many ways you can go, including free education or w/paid mentoring and or coaching. For now I'll suggest that there are plenty of free RE investing related podcasts on itunes. Go to the itunes store, got to podcasts and search real estate investing. Lots of great free content there and most podcasters also have related sites with some free downloadable stuff too. I recommend, Sean Terry, Matt Thierio, REIology, REI mastery, bigger pockets, flip guys, real estate guys radio, No limits REI & REIClub, and Jason Hartman to name a few. I'm a student of FortuneBuilders Mastery. It's great but not cheap. Good luck

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  • Jim Flannery
    Developer · Baltimore, MD · Member since 2013 · 2 posts · 0 votes
    13y

    Troy,

    I'll give you my global overview on RE education.

    First - from everything I've heard Columbia has an exceptional program and if you opted to go that route you would be well served.

    Second - The decision on whether or not to invest in a structured real estate education, in my opinion, comes down to two overall factors; your previous experience and your career goals. I was lucky enough to fall into commercial development and learn the business first hand over six years but for many that is not the case. While developing my skill set I've also been lucky enough to be a part of meetings with some very successful investors to learn from. If you're having trouble breaking into the industry then the network that comes with a Columbia education can certainly be worth it. If you have very limited experience you may also benefit from the accelerated nature of a structured curriculum.

    Third - If you have experience, are comfortable around a spreadsheet and/or Argus and have some connections I'm not sure paying for the education represents the highest and best use of your money. I did most of my learning by buying the textbooks that you'll likely study and trying (and often failing) to apply the principles learned to situations I'd encountered in my work life. When I was contemplating going back to school the head of the RE program at Ohio State basically told me that given my practicing knowledge and experience I could probably teach the program.

    Bottom line - if you're trying to break into the industry, establish your fundamental skill set and build a network then school is likely a solid choice - otherwise you can learn the same things from textbooks/public knowledge and applying that research to publicly listed information.

    Hope that helps and feel free to connect if you'd like to discuss this further

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