Worth to get a degree in finance and economics?

Worth to get a degree in finance and economics?

Surrey, British Columbia · Member since 2016 · 68 posts · 2 votes
Is it worth it to go to school to get a degree to help me in my real estate business?
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Investor · Kirkland, WA · Member since 2016 · 31 posts · 26 votes
10y

I agree with Andrew. That's serious overkill. I have a top MBA (which comes with a large dose of finance and economics). Useful, but not necessary at all, as college courses focus on macroeconomics/microeconomics/corporate finance/etc. At some schools, there are some great real estate courses (mine was one of them) but even those were geared to folks who were thinking of becoming REIT analysts at investment banks and the like.

In short, it wouldn't hurt, but it's geared for bigger/different things (and costs a lot).  A community college course or two (accounting?) would be all you might want and need.

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  • Andrew SyriosPro Member
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    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    10y

    I wouldn't get a degree such as that simply for real estate investment. There are some useful principals, sure, but much of it is geared toward the corporate world usually. I think you can get educated on real estate in more specific ways (like through this site) and for a lot less money personally.

  • Investor · Kirkland, WA · Member since 2016 · 31 posts · 26 votes
    10y

    I agree with Andrew. That's serious overkill. I have a top MBA (which comes with a large dose of finance and economics). Useful, but not necessary at all, as college courses focus on macroeconomics/microeconomics/corporate finance/etc. At some schools, there are some great real estate courses (mine was one of them) but even those were geared to folks who were thinking of becoming REIT analysts at investment banks and the like.

    In short, it wouldn't hurt, but it's geared for bigger/different things (and costs a lot).  A community college course or two (accounting?) would be all you might want and need.

  • Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
    10y

    I have a finance degree, but its WAY overkill for real estate.

    learn efficiency ratios and time value of money, which are both simple, and you'll be more savvy than most RE investors I know.

    @Joseph Delia is right in that a finance degree is useful, but not necessary. Also, he's right that a few college courses would be PLENTY.

  • Mansfield, TX · Member since 2015 · 22 posts · 7 votes
    10y

    Definitely not necessary to get started or for evening learning real estate, but It will help you to understand business and get you thinking about money. My interest in real estate actually was sparked in one of my finance classes!

     As for economics, I think people underestimate how valuable this degree is worth. Gaining a better understanding of supply/demand, pricing, and taxes helps tremendously in any form of business.I believe you can be very successful in real estate if you go into it with an economic mindset. Both are very practical majors to pursue in my opinion.

  • Investor · Kirkland, WA · Member since 2016 · 31 posts · 26 votes
    10y

    Logan brings up a good point about taxes.  One of the best courses I EVER took was a course called "Tax Factors in Business Decisions" during my MBA.  A rare gem of a class taught by a guy who advised Wall Street.  Taxes being such a huge part of (my) real estate decisions, anything even remotely similar that you could find would be worth a flyer.  Super interesting stuff and you really come out realizing that in the corporate world, every financial decision is based on tax treatments.

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