Hello, my name is Noah and I am very new to real estate and BP. I am apologizing in advance for this cluster of a mess of questions. First question is what are the best colleges that offer either a major in finance and minor in real estate or a major in both and which is more beneficial when It comes to being a real estate developer(What I want to do) . I always see Wharton being at the top of finance, real estate, etc. in posts and I read that to get in to Wharton you obviously need great grades (which I have) and something like great diversity or something and write a compelling essay on why you should be at Wharton(it's obviously harder than I made it sound), after Highs school I plan on enlisting in the Army for about 6 years, I'm an eagle scout and I am related to a founding father, other than that I dont have much more to put for the "Diversity/Culture section" Back to degrees the reason I don't want to get just a real estate degree is I would like something to fall back on in financing or something similar to real estate developing if the risk in real estate gets too high for me. I also heard of people doing construction management and finance for degrees or construction management and real estate too. I guess the overall question is which is the best for real estate development plus a back up job in financing or banking or construction management. I would also like to know people's thoughts on being a multi unit franchisee to fund real estate projects. Sorry for my poor writing I've never posted a discussion or anything of the sort. Thank you for all future answers. I couldn't decide whether to put this in starting out or real estate developing sorry if I chose wrong one.
Hi @Noah Wolcott . What a great questions you have posed. I knew I was always going to get into real estate (it's just a part of my family), 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. I know many people in my program that went on directly to be licensed brokers. Also, with construction project management being a good paying field, students are able to get well paid internships while in school. Look into Construction Management degrees, there are lots in California and on the west coast, and let me know if you have more questions. Best to you.
As Julie pointed out, Construction Management is a great option if you want to get your foot into the built environment. I'm actually working in the architecture industry and have been so fascinated with the whole concept of architect/developer that I've started studying for my brokers license. I feel like the architectural experience coupled with the understanding of the buying/selling process would prove to be useful if I ever decide to transition into development full time. I also know several individuals who started out as architects and went on to get their MBA's before transitioning into a development company. As a result their knowledge in design application and business proved to be very useful.
Regarding schooling, don't hesitate to do your research, visit the campuses, and get to know the professors. There are a lot of great schools out there and not all of them are classified as Ivy League. At the end of the day it really just comes down to where you feel most comfortable, the selection of classes that are being offered, and what opportunities are there for making lasting connections/relationships.
Thank you in advance for your service.