Opinions on obtaining a Bachelors Degree

Opinions on obtaining a Bachelors Degree

Statesboro, GA · Member since 2015 · 99 posts · 24 votes

My main goal is to start my own real estate business. I'd like to do it all: wholesale, rehabs, flips, rentals, etc. I'd like to start with wholesaling, then work into flips, possible spec builds, then working to possible rentals. With that, how do you feel about a degree in Construction Management? To be honest, I've always had a negative mindset and considered college to be mostly a large business. A bunch of people agree, some don't. Regardless, the majority of what I'm wanting to do is fix and flips. A Construction Management degree would help me manage my money, people, time, equipment, materials, etc. It would also help me become better at scheduling, knowing the safety standards, and help with my budgets. This also takes 4 years to obtain a bachelors in. My father is a superintendent over construction projects. He manages the electricians, plumbing, tile guys, drywall, you name it. I feel like he would be very beneficial with my business, but he's also not someone I can really learn from. Though I know he would be a major benefit for me, isn't this something I should have a good head on before jumping into? There's pros and cons to each way. I think in 4 years I could have a lot going on rather than just starting out after that time. But also, I could save a lot of money from the knowledge of getting my degree. Also, by keeping my GPA up, I can go to a university and only spend around $15,000. So... $15k and 4 years of learning, or slowly progress into my own investments and have 4 years of experience on the ground instead of in the books? I know plenty of people have done it without this education and it's not completely necessary, but is it beneficial enough to invest in my education? All opinions welcomed!

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Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes
10y

Remember to figure the cost of education into your numbers.

You might find some non-transfer classes at your local community college.

Four years of experience vs. four years of study and expenses ...

Is there a way to work on investing while studying? Maybe you do a rehab or fix-and-flip and have your tuition covered before the end of your first year of school.

Dunno, man... 

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  • Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes
    10y

    Remember to figure the cost of education into your numbers.

    You might find some non-transfer classes at your local community college.

    Four years of experience vs. four years of study and expenses ...

    Is there a way to work on investing while studying? Maybe you do a rehab or fix-and-flip and have your tuition covered before the end of your first year of school.

    Dunno, man... 

  • Investor · PA · Member since 2013 · 1k+ posts · 602 votes
    10y

    A good education will definitely help with job prospects.  I would probably lean towards an engineering or business degree.  I doubt many construction managers have a degree in construction management.

  • Investor · Juneau, AK · Member since 2015 · 980 posts · 741 votes
    10y

    Hunter, there is piece on how higher ed can help in real estate (by Colegrove, Dec 12th, I think, in the BP Blog)... 

    My own view is why not try the "best of both" worlds. That degree seems like it opens up options. But why not add practical experience, too.

    Most colleges have class offerings flexible enough that you could still work part time in construction or a related real estate area (and I find employers often open to college students and working around their hours). Schedule classes for Tues/Thurs and work M/W/F (even SAT, too, if you can)...

    The you graduate with a degree PLUS a year or two (or more) of accumulated experience (piecing together 3-4 full time summers + 20-30 hours a week during the school year)...

    Best of luck!

  • Investor · Colorado Springs, CO · Member since 2011 · 322 posts · 238 votes
    10y

    You can do it all if you want.

    When I am asked for my opinion on getting a college degree, I will tend to say something like "...it doesn't matter what degree you choose, however, you should defiantly minor in Business Admin"

    Business Admin will give you an introduction in what it takes to commercialize your talents. Notice I used the word -introduction-. Whatever business you choose to get into will require you to learn and grow on the job. Graduating with a business degree may help you avoid common business mistakes; mistakes that can break you earlier on. Being familiar with common business pitfalls and learning how to avoid them, in my opinion, can be learned in the class room (and on BP) when you don't have it all on the line.

    Personally I majored in business administration with a concentration in entrepreneurial management. I earned my BA an AA and AS is three years from accredited institutions. Pay attention, you do not need to take four years to earn a bachelors.

    I have a full time W2 job, own several buy and holds, commercial and residential, and love to flip SFH when I find good deals. 2015 is big year for me as my net worth will breach the 1 MIL mark for the first time...now on to my second MIL.

    Good luck to you

  • Julie MarquezPro Member
    Investor · Skagit County, WA · Member since 2016 · 1k+ posts · 807 votes
    10y

    Hi @Account Closed . I like that you are considering the options. I knew I was always going to get into real estate (it's just a part of my family and my dad is an electrician by trade), so for me, getting a construction management degree was the natural choice. I love the built environments, so my other idea was architecture, but I didn't want to spend long hours in the design studio. I went to Cal Poly, San Luis Obispo, and then graduated from the University of Washington with a BS in Construction Management.

    The degree was a fantastic learning experience. It's a specialized business degree, very practical in studies, and all directly related to my career in commercial project management for a general contractor. I also apply my skills to residential rehabs, rental management, and all areas of real estate. I highly recommend the construction management degree for anyone looking to get into real estate. Also, with construction project management being a good paying field, students are able to get well paid internships while in school. And with a good economy you can get great project engineer position upon graduation at any firm. Someone with a construction management degree is a great commodity in this project management world. At a large general contractor, you will learn how the most successful companies run their business. And you will learn yourself, and if you make costly learning curve mistakes, it's on their dime, not on your hundred dollar. I think even working for someone else is a great experience. 

    You could start with your first two years of school at a junior college, and then finish at a university. Or you could find out if you dad's company, or any other large general contractors, are hiring interns. I think the degree has helped me immensely, but getting a college education was always a no question for me. I suggest getting the degree and working for a general contractor while in school, and keep working for the GC while doing your own thing on the side and until that grows to what you desire.

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