What to major in College for RE investing?
Real Estate Agent · Fairhope, AL · Member since 2022 · 10 posts · 20 votes
What to major in College for RE investing?
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Bruce WoodruffPro Member
Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votesIf I knew I was going to spend my life doing REI, I would not waste the 4-5 years in college when it's pretty much worthless. You can learn anything you would in college a lot faster in the real world, and the lessons will stick because they are real. IMO, you're just throwing away money......and more importantly - time!
147 Replies
- 4yScott TrenchPro MemberRental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes
Quote from @Joshua Milam:
Hello everyone, I have a family friend that is about to go to college and is very interested in real estate investing and says that will be his future. He asked me what he should major in and I told him business administration, finance, accounting, etc. Although I am not 100% on what he should study. So my question is if you were dead set on going to college what would you study to help benefit your real estate career or what did you study that has helped you along the way.
Thank you!
I’d focus less on the degree and more on the classes and what you do with your free time.
I studied economics and history, and minored in corporate strategy and corporate finance, which I guess is as close as you can get at many colleges.
If I could go back, I would have considered getting my agents license while I’m studying anyways (not for college credit of course). I’d also have tried to create some kind of income stream so that I have income and credit I can borrow with.
Then as far as courses, accounting, financial modeling, business management, any introduction to law, and investing classes (I had a class on stock market investing I loved!) might be good areas.
I also made the mistake of avoiding professors with bad reviews and classes that were considered hard, because I was overly protective of my GPA. I’d rather go back and get more “Cs” in hard classes that actually provided useful skills (like excel financial modeling, for example) than have gotten my “As” in classes that I’ll never look back at.
Hope this helps!
- 4yBruce WoodruffPro MemberContractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
If I knew I was going to spend my life doing REI, I would not waste the 4-5 years in college when it's pretty much worthless. You can learn anything you would in college a lot faster in the real world, and the lessons will stick because they are real. IMO, you're just throwing away money......and more importantly - time!
- 4yLuther Wilson IIIPro MemberReal Estate Broker · Kansas City, MO · Member since 2017 · 537 posts · 292 votes
It depends on the college and what programs they offer. Along with the fields of study you mentioned, they could look at Entrepreneurship programs as well. I kinda lucked out when I went to college the school I went to had just put together a Entrepreneurship program and they had a Real Estate emphasis option for it as well. 🙂
- Specialist · Easton, PA · Member since 2018 · 1k+ posts · 2k+ votes4y
I’m with @Bruce Woodruff. Become a realtor, read tons of books, bigger pockets, and scour the internet for lots of free info. Don’t waste $100k and years of schooling to buy a few houses.. that’s if he can get financing with all the student loans he’s accrued.
im a tradesman.. 0 college, $0 debt. Years of learning on my own. - 4yBruce WoodruffPro MemberContractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
Quote from @Matt M.:
I’m with @Bruce Woodruff. Become a realtor, read tons of books, bigger pockets, and scour the internet for lots of free info. Don’t waste $100k and years of schooling to buy a few houses.. that’s if he can get financing with all the student loans he’s accrued.
im a tradesman.. 0 college, $0 debt. Years of learning on my own.Me too, Matt. Got thrown out of college, spent decades in the trades and buying houses seemed to work. I can't see wasting years of one's life and an enormous amount of money for skills you can get for free. But that's just me.....
- Specialist · Easton, PA · Member since 2018 · 1k+ posts · 2k+ votes4y
Quote from @Bruce Woodruff:
Quote from @Matt M.:
I’m with @Bruce Woodruff. Become a realtor, read tons of books, bigger pockets, and scour the internet for lots of free info. Don’t waste $100k and years of schooling to buy a few houses.. that’s if he can get financing with all the student loans he’s accrued.
im a tradesman.. 0 college, $0 debt. Years of learning on my own.Me too, Matt. Got thrown out of college, spent decades in the trades and buying houses seemed to work. I can't see wasting years of one's life and an enormous amount of money for skills you can get for free. But that's just me.....
Yeah no way.. take a business or finance class at the local community college if anything for a few thousand, but I wouldn’t waste tons of money on a 4 year degree to buy real estate
- 4yBruce WoodruffPro MemberContractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
Imagine how many houses you could buy/sell in those 4 years......
One of my favorite sayings - 'Money is a renewable resource, time is not'
- Member since 2020 · 671 posts · 937 votes4y
I'm here to defend going to college to become a real estate investor!!!!
Errr, umm, uhh....
- Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes4y
Forget college. Spend 90 days reading books, listening to podcasts, study in the market, and interacting on the bigger pockets forums. They will know enough in 90 days to start investing. They can get a W-2 job doing just about anything and spend $20,000 purchasing their first house hack. 2 years later they can spend $20,000 buying their second house hack. 2 years after that their rentals will produce enough income for them to purchase a single family home. They can have eight rentals and a single family home, all paid for by their tenants monthly rent payments, and they will be well ahead of anyone with a four-year degree.
The DIY Landlord Book4.7247 Reviews - Morris County, NJ · Member since 2020 · 5k+ posts · 2k+ votes4y
There is the toss up and challenge of studying something you enjoy and something that will get you to a point of making a strong, solid income. It maybe hard, but its possible to do a "soft" major (e.g. english, psychology, etc) and wind up making lots of money.You can still become a doctor, work on wall street, etc. There are plenty of opportunities out there, regardless of the news says. The world isn't run by engineers, doctors, lawyers, and business majors. There just aren't enough being produced.
Don't be defined by the degree. A college major is some 30 semester credits. A bachelors degree is normally 120 semester credits. What do you do with the other 90 credits is up to you (and whatever distribution requirements your school/college has).
Also, the topics for REI aren't that complicated or hard. Many, to most, learn them along the way and without formal education. Be educated so that you think well, and have the foundation to "do somethinng" with your life. While you are in college, find internships and get a start on your life, not necessarily a career as its okay to change jobs/careers (not every week mind as its seems to be case right now). As many people have mentioned, a or any specific college classes/education won't help you with REI directly. You should motivated to obtain your degree for other reasons.
Sales is "hard." This isn't to say that you shouldn't do it. But, it comes more naturally to others. Yes, its one of the few professions where the"sky is the limit" on income. But, it doesn't always happen. Not to be a downer, but I always think that people need to be realistic and separate "truth from reality." I think we'd agree that its true one would make oodles of money being a professional athlete (if you are male anyway righ tnow). However, what is the reality of becoming a professional athlete? hmmm....
Lastly, you "sort of kinda" need a solid, high income for REI. Its both to generate the cash to invest an to be able to qualify for loans. Just look at the new posts daily or weekly... Getting financing is a major question. You don't hear about high earning true salaried W2 earners with this problem since they are making the money. Its the ones without the income that come asking. Sure, many ways are advertised to invest without your own money or with other people's money. But, its not the easiest way to go.
Hope this helps. Good luck.
- Flipper/Rehabber · Johnson City, TN · Member since 2020 · 26 posts · 49 votes4y
I agree with what everyone else said on here.
That being said, knowledge is never a waste of time if your education is paid for.
Two majors that would help with any RE Journey:
1. Marketing and believe it or not...
2. Human Resources Management.
Marketing- this will help you stand out for finding and generating leads. There are peers I work with who have a crazy leg up and advantage in their designing abilities and an eye for art and photography that has helped them create KILLER STR listings, wholesaling websites, and realtor websites.
HR- This teaches more mindset. It teaches you how to run a team, and culture, creates inspiration, motivates others, talent acquisition (which will come in handy for finding reliable contractors and project managers), and the ability to hire slow and terminate fast.
- 4yBruce WoodruffPro MemberContractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
Quote from @Richardd Barran:
That being said, if your education is being paid for, knowledge is never a waste of time.
But wasting time is the biggest waste of all.....
- Investor · Austin TX · Member since 2018 · 151 posts · 165 votes4y
Hi @Joshua Milam! I had to throw my two cents in there, and this might be a little out of the box, but stick with me! I'm going to push for an engineering or some sort of STEM degree for a few reasons:
1. STEM, while having many downsides, has a ton of upsides in that it really helps you to learn how to think about the world. Whether it's engineering or physics, it teaches you how to model big ideas, and bring them down to reality.
2. If you can do the math of a STEM major, real estate modeling becomes much easier!
3. Although your friend is certain that he wants REI to be his future, it wouldn't be insane to think that someone could change their mind from when they're 18 (I know I did!!). By having a STEM degree, it'll open up a ton of jobs/opportunities outside of REI that will set them up for success no matter what path they choose to pursue.4. A lot of folks have said it already, but there is nothing stopping you from getting a STEM degree, AND learning everything you can about REI - reading books, listening to podcasts etc. It's not one or the other!
Hope this is helpful and best of luck to your family friend!
Cheers, - Accountant · Lexington, KY · Member since 2019 · 100 posts · 66 votes4y
I am biased but ACCOUNTING! (Maybe a double major in marketing too or work for someone in real estate sales as an intern while they are finishing their degree.)
I understand where people are coming from when they say college is a waste of time & money in this discussion. But I also understand being set on going to college. The important thing is making a decision and making the most of it.
They could skip college and think they have a $100k head start on everyone else, but if you don't do anything those tuition savings quickly catch up to you. That is not to say success in real estate requires a college degree, but I took college very seriously and built a great foundation of knowledge for my accounting business today, and a large portion of my current revenue can be traced back to people I met in college through networking, classes, and internships.
Since they are set on going, encourage them to take their studies seriously but also explore opportunities available to college students and make the most of their time in school.
- Morris County, NJ · Member since 2020 · 5k+ posts · 2k+ votes4y
Quote from @Matthew Cervoni:
I am biased but ACCOUNTING! (Maybe a double major in marketing too or work for someone in real estate sales as an intern while they are finishing their degree.)
I understand where people are coming from when they say college is a waste of time & money in this discussion. But I also understand being set on going to college. The important thing is making a decision and making the most of it.
They could skip college and think they have a $100k head start on everyone else, but if you don't do anything those tuition savings quickly catch up to you. That is not to say success in real estate requires a college degree, but I took college very seriously and built a great foundation of knowledge for my accounting business today, and a large portion of my current revenue can be traced back to people I met in college through networking, classes, and internships.
Since they are set on going, encourage them to take their studies seriously but also explore opportunities available to college students and make the most of their time in school.
Yes, need to second the networking aspect of college.
@Joshua Milam... Using college education to directly learn about REI should NOT be the point. College is to prepare you to have a "good job" so that you can AFFORD to INVEST. This is why its called "investing" and not a "job." The most vocal here on BP may have started with REI somehow or in one way shape or another, but many use REI is part of their investing strategy (e.g. real estate, stocks, whatever...). Even as a real estate investor, you can't be a "one trick pony." Good luck.
- Lender · Member since 2022 · 338 posts · 374 votes4y
What college is your friend attending? It also would depend on what his specific goal is with obtaining real estate knowledge. In general, I would say any financial knowledge would be beneficial for real estate investing, and some colleges even offer a finance major that is strictly focused on real estate.
- Real Estate Agent/Investor · Peoria, AZ · Member since 2016 · 2k+ posts · 2k+ votes4y
I wouldn't spend a dime on a real estate degree unless I planned on being an architect. Between Google, YouTube, and BiggerPockets, there is more than enough information for free or very cheap that will help you learn to invest.
I'm willing to bet that only a very small amount of successful investors here went to college with the sole intent of becoming an investor.
If I were dead set on going to college, I'd major in STEM. I may be biased because I'm a CS grad, but the money you can earn will help you build capital and the critical thinking and analytical skills you learn to sharpen will help as well.
- Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes4y
Nothing will prepare you. School of hard Knox and learning from other investors at meetups will teach you more
- Real Estate Consultant · Lawrence, MA · Member since 2020 · 216 posts · 157 votes4y
Marketing, business accounting or admin. Ideally you skip college and work for someone in REI. You'll make the gains of 4 years in college in a year or less with the right people.
- Real Estate Agent · Austin, TX · Member since 2020 · 1k+ posts · 941 votes4y
Quote from @Joshua Milam:
Hello everyone, I have a family friend that is about to go to college and is very interested in real estate investing and says that will be his future. He asked me what he should major in and I told him business administration, finance, accounting, etc. Although I am not 100% on what he should study. So my question is if you were dead set on going to college what would you study to help benefit your real estate career or what did you study that has helped you along the way.
Thank you!
Get a job with someone who is doing what you want to be doing, work for a successful realtor/investor, a builder, an apartment syndicator, a flipper. Education in real estate is about books, podcasts, and experience and not as much about traditional classroom education.
- Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes4y
Quote from @Joshua Milam:
Hello everyone, I have a family friend that is about to go to college and is very interested in real estate investing and says that will be his future. He asked me what he should major in and I told him business administration, finance, accounting, etc. Although I am not 100% on what he should study. So my question is if you were dead set on going to college what would you study to help benefit your real estate career or what did you study that has helped you along the way.
Thank you!
When I went to college I studied was Real Estate Finance and Economics.I really focused on going to all of my professors office hours, any networking event, and applying for any mentorship program. The University had a great mentorship program that through that I was connected with a big time developer here in Columbus, Ohio. I still talk to him every month. I got started investing my sophomore year of college, I had $500 to my name, My grandmother lent me $12k for the downpayment on a duplex on OSU campus in Columbus. Over the course of a year my wife and I fixed it up, rented to friends, ate peanut butter and jelly, did everything we could. We then refinanced the property and it has given us $140k in cash back and continually produces $1,800/month in cash flow.
All that to be said, it is not for everyone although I really benefitted from going.
- Real Estate Agent · Fairhope, AL · Member since 2022 · 10 posts · 20 votes4y
Quote from @Jack Mawer:
What college is your friend attending? It also would depend on what his specific goal is with obtaining real estate knowledge. In general, I would say any financial knowledge would be beneficial for real estate investing, and some colleges even offer a finance major that is strictly focused on real estate.
Auburn University in Alabama. They have a lot of engineering and agriculture students. I have a bachelors degree from there and have no idea if they offer anything related to real estate.
- Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes4y
I graduated college in 2010 and have been volunteering with college students ever since. Here are my two cents:
I would have focused on the numbers, because ultimately that's what matters most. Getting a degree in finance, accounting, etc. will go a long way. Although I had an amazing college experience, getting a degree in "Entrepreneurship and Strategy" wasn't that helpful.
But more importantly, use your time in college to network. Get involved in student government, join a fraternity/sorority, and other clubs that can help you grow as a person. Classes don't teach you on how to be a leader. Being VP of Finance for student government where you might have to manage a $1,000,000 budget will. One of the Fraternity chapters I worked with managed a $700,000 budget and had 100 members. It is those skill sets that will help in dealing with different personalities and as close to real world experience. As a matter of fact, I got an internship with a commercial real estate office through my networking, not through a class I took.
- Member since 2019 · 223 posts · 261 votes4y
I would learn a trade (plumbing, electrical, or HVAC). I know this isn't popular with kids. They will be making good money in no time and learn a lot about construction which is a huge part of being successful and real estate. In a couple years they will have a good paying job and be able to house hack their first home.
- Rental Property Investor · Los Angeles, CA · Member since 2018 · 49 posts · 46 votes4y
Quote from @Craig Janet:
I would learn a trade (plumbing, electrical, or HVAC). I know this isn't popular with kids. They will be making good money in no time and learn a lot about construction which is a huge part of being successful and real estate. In a couple years they will have a good paying job and be able to house hack their first home.
I like Craig's advice, at the very least knowing a trade, or having some sort of construction knowledge, will help when assessing an investment.
I have a degree in Interior Design, I wouldn't necessarily recommend it, but it has come in handy. My work experience during and after college was as a design and construction project manager for multi-family and commercial development, that experience has been very useful.
I have investor friends who have degrees in Architecture and Project Management, which also seem like relevant majors if someone is set on going to college.
I worked for a developer the entire time I was in college, although I did learn some things in college, my most valuable experience was in the field. If someone can work while they are studying, I'd say that's the best bet.
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