Does REI and College go together?

Question

Is it necessary for a Real Estate Entrepreneur to attend college if he/or she is planning to be a full time investor. If so, what would you study to help boost your career?

Joe Villeneuve · Answer

The more you know, the more power you have.  Specifically in "money" and Law.

1 - Learn about the banking system and how money actually works.

2 - Learn about contracts and what you can/can't do

3 - Learn about marketing and advertising

4 - Learn about Business Management

5 - Learn about Accounting (not the same as money)

6 - Learn about Business Planning

7 - Learn about the internet and networking (this is computer networking)

8 - Learn about using software...mainly Microsoft Office, and your accounting software of choice

9 - Learn how to speak to people in groups and 1 on 1's

10 - ...and last, but most definitely not least, Learn how to Learn...and NEVER STOP.

Dev Horn · Answer

Ultimately, you have to have a passion for either or both ~ real estate, or getting a degree.

We tend to put our focus, time, and money into those areas in which we are passionate, because those are the things we love to do and we're good at.

I don't think this is a question of "logic" so much as a question of the "heart".  At 54 years old, my best advice is to do what you LOVE to do, put everything you have into that, and you can do well at something you enjoy.

That applies to going to college as much as getting a job or career.  If you love and want it, go for it.  If you have no real passion for something, don't waste precious time and energy on it.

Michael Boyer · Answer

Nice points here above and see also the recent BP blog piece (dec 12th) by Colegrove, right on this topics (title begins "Three Ways Education....") . Best of luck.

Jill DeWit · Answer

@Raynard Young

Have to be honest here - the stuff you learn in the real world rarely compares to college. How many times have you heard folks with business degrees, even MBAs, say "wow that really prepared me for starting my own company"? Um - like zero?

College is SUPER expensive and if you are not pursuing a specific degree like engineering I am not sure that is the best investment.

Hope that helps!

Jill

Tyler Weaver · Answer

Definitely not necessary.  I would look at it more as a life experience than a step to becoming an investor.  I got a degree in finance and real estate development.  Other things of interest could be marketing or construction management.

Jeff B. · Answer

A good class in Contract Law, Accounting is nice to know and these can be obtained at the community college (usually) w/o the need of a for year stent leading to a  Bachelors degree.  Two years would yield an Associates degree and more 'background'.

Regardless, learning the Laws, Regulations, Rules of RE is still required reading.

Does REI and College go together?

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