Military to REI.. MBA?

Question

BP,

I am currently an E6 in the Navy and I have been serving for 7 years. I have one more year on my contract. Currently, I am working on finishing up my Bachelors degree at Rutgers University. Me and my partner have a small 5 unit portfolio that we own/manage and we have done 6 flips together in the Ohio.

I am at a crossroads and I need to decide to either invest full time or peruse an MBA in real estate. Does any of the class room stuff apply to the business, is it worth the time? What would you do with the GI Bill? As side from cutting my teeth doing deals is there any education worth pursuing?

I wholeheartedly appreciate your opinions as I have grappling with this decision for well over a year.

V/r,

Stas

Elizabeth Wilson · Answer

@Stas Solomon -  Im a full time investor/flipper/landlord.  I also finished a two year full-time MBA last year.  There may be others out here who had experiences in their programs that helped them in real estate (or anything entrepreneurial), but personally I think the only reason to do it is if that is what is required to move up the corporate ladder.  I can't recommend enough getting out there and learning as you do each deal and also networking, connecting with mentors, good coaches, podcasts, books, or working for someone you admire in the business.  I got paid to get my MBA and I learned way more from running my businesses than I ever got from sitting in a classroom.  Please respond here or message me if you have any more questions. Happy to help!

Stuart Grazier · Answer

@Stas Solomon I personally don't think an MBA will help you in any way to build your real estate investing business. I have been investing for about 9 years, just completed my MBA about 6 months ago (using Navy TA), and I truly believe it did not help me gain any additional knowledge or benefits for real estate investing, besides adding a piece of paper to my resume. As @Elizabeth Wilson and @Jeff Keller stated, an MBA is good for climbing the corporate ladder, but the best thing that helps build your real estate business is a good network, experience (learning from mistakes), and taking action. An MBA won't help you in any of those departments.

My advice: If you want to just build your real estate business, save the GI bill for your kids and continue to learn by doing deals, building your network, and self-educate by reading books/blogs, listening to podcasts, asking questions to those who are doing what you want to do, and find a mentor. If you want to get a corporate job, get an MBA.

Peter Benson · Answer

Thanks Elizabeth, I definitely plan on expanding the playing field. I cant get out there for a few more years so I was just curious what other investors are seeing in the area.

Jeff Sprunger · Answer

if it's  Post-911, go to school and use the BHA to live for free.  House Hack?  Multi-unit?

Elizabeth Wilson · Answer

@Peter Benson -  while sites are great for data for analysis, there is nothing better than "boots on the ground" (pls forgive the military jargon!).  Find recommended agents, REI groups and PMs (and connected folks)  They know the markets. And remember that sometimes the best investments aren't in your city. Don't limit yourself.

Jeff Keller · Answer

Hi @Stas Solomon.  If you want to get into corporate real estate management/investment the MBA would probably be very helpful. Many large companies and universities have internal departments to manage their properties and evaluate purchases. I suspect using your GI Bill to get the MBA would be a good choice.

Peter Benson · Answer

Stas,

I dont think you will ever find yourself regretting spending two years of your time to get a MBA especially if it is in real estate. since you already have a couple units, it appears you know what your doing and probably could keep the REI going while your in school. just my .02.

I am in the Navy too, but I have a couple more years to go till retirement (4 yrs). I am looking at moving to Troy (near Clopay) and working on WPAFB. I have been scouring the different sites trying to get a sense of where to invest when i get out there. Where are you buying your properties? I was thinking Huber heights, but troy has some cheap properties that look like they have potential.

Best of luck in all your future adventures.

Pete

Military to REI.. MBA?

Most Popular Reply