Did you get a college degree?

Question

I am a recent community college graduate with an Associate’s degree in Business Management and trying to figure out if I want to continue to get my bachelors degree in Business Administration. I find that many people that invest in real estate the way I want to, either do not have a degree or do not use the degree they worked hard and paid a lot for to accomplish these goals.

What’s degrees does everyone have? Has it helped you in your real estate investing? Do you recommend getting a bachelors degree on top of an associates degree?

Thanks for the help!

What’s degrees does everyone have? Has it helped you in your real estate investing? Do you recommend getting a bachelors degree on top of an associates degree?

Thanks for the help!

Doug Spence · Answer

@Emily Beck First off, congrats on getting your associate's degree! My two cents: you don't need a bachelor's degree to be successful in real estate. Especially if it means going into debt to get that degree. My generation (millennials) have more student loan debt than any other generation in history, and we are as a whole way behind in home ownership numbers and net worth as a result of this massive student loan debt problem (among other factors outside the scope of this topic).

You will learn much more by getting involved in real estate every day, doing deals, meeting people, and taking big action. If you have a strong desire to learn more about business from an academic perspective and you can get a scholarship or have another way to pay for the education without going into debt, then that's definitely a route to consider. You definitely don't HAVE to have a bachelor's to be successful at real estate or at business.

Best of luck and keep us updated!

Nathan Gesner · Answer

I literally earned a four-year degree in Psychology by testing out of every class. I was checking the box because I was retiring from the military and didn't know what I wanted to be when I grew up. I ended up not needing/using it but at least I had it in case I needed it.

This is a very personal choice based on your goals, personality, career path, and other factors.

Jim K. · Answer

I have a BA and a lot of a PhD. I can get a bit drunk and say semi-interesting things at parties.

Bryan Martin · Answer

@Emily Beck I have a Bachelors in Math and a Masters in Business Administration.  I would say the education in both of those areas has helped, but not anymore than BiggerPockets.  While the degree doesn’t help directly, the degree will often help you get a job with a higher income.  The higher income will help you get bank financing.  The bank financing will help you buy nice properties at good interest rates.

So, while I don’t think the degree is necessary or even directly beneficial to real estate investing, I think there’s some great indirect benefits to having a college degree.  That being said, don’t go into student debt for a degree that won’t help you land a job.  Get the degree to get the job that will pay for your debt in a timely fashion.

Chris Levarek · Answer

I have a Bachelors in Computer Information Systems. Prior to this I switched majors around 4 times as I went into college, lived in Europe and spent 4 year in the Airforce. I amassed quite a lot of college credits! 100 some elective credits that went unused. Was it worth it?

Most definitely. It all led me to where I am. I also find the network , experience and overall learning enjoyable so isn't that what life is about?

Now did it benefit my real estate investing?

Most definitely. You are your number one productive asset. If you can produce more, you will achieve more. So if having a degree allows you to be more productive, (financially), then you are getting much better return on you! :)

It's all up to you. Enjoy the journey. Either way works if it makes you happy doing it.

Chris Boyington · Answer

@Emily Beck

So here is a unique perspective.  I don’t have a 4 year degree. I’ve been “unessentialed” for the last year.  My wife however is still employed with a local university. They have a free tuition program for employees and their families. A few months ago I decided to give it a shot. I submitted the paperwork. Since then, we have decided to become real estate investors, and have put in a lot of effort into our business.  Kinda forgot about the college thing. Get a phone call from the university and my application is moving forward here is your course plan, you should be good to start in June. I am second guessing going back to school now because I don’t want to take time and energy away from our new REI business. That’s a lot to take on all at once.  You don’t have to have a business degree to have a business. Just make sure you pay for the best lawyers and accountants you can find.  In your position, I would hold off on the bachelors degree until you get your own business established. The degree you currently have got you where you are now.  If real estate is a side hustle or a full time gig, a bachelors degree isn’t going to change the outcome of the effort you put into it. They don’t teach those skills at a university. Once your business is where it needs to be, then go and get that cap and gown if you really want it.

Hope this helps.

Best of luck to you whatever you decide!

Dan Schwartz · Answer

@Emily Beck "I find that many people that invest in real estate the way I want to, either do not have a degree or do not use the degree they worked hard and paid a lot for to accomplish these goals."

You didn't share what "that way" is, so we are merely speculating.  No tenant and no mortgage lender has ever conditioned their participation in my furthering my REI goals upon the level of education I've attained.  If I wanted to be a CFO at a major REI company, I suspect HR would be very interested in my education and other standard markers of my pedigree.

What do the people whom you want providing your income stream(s) want?  Start there.  Interview people if you are unsure.  The path will only be as clear as you are clear on what you want the path to be.

Did you get a college degree?

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