A first-time poster on BP here, and it's a bit of a heavy one! I'm in my mid-20s and recently had a career dilemma. I've always been very interested in real estate but didn't know exactly what to do. I love technology and design, so I figured I would get my Masters in Architecture, and eventually be an architect-developer.
I moved to Boston almost 2 years ago to pursue my master's degree. When I moved here I renovated a condo. I absolutely loved the process (even living in the condo while the reno was going on). The more I study real estate, the more I feel that my architecture degree isn't helping me much, I'm not being taught to sell, negotiate, read/understand contracts, understand clients or anything much beyond the actual design of architecture. I'm also currently getting my real estate license, and I will have a job with a broker once I get the license. As of now my career path includes flipping some places, possibly have a multi-family unit, and then eventually get into development.
Would it be worth leaving the architecture school to pursue another type of degree like a Master of Science in Real Estate which will be more beneficial to real estate, or even an MBA perhaps?
Any input or advice would be greatly appreciated!
How much time in school do you have left? For the most case, for the stuff discussed on this website you don’t need a degree. Now if you’re a fund manager for a RE portfolio that’d be different.
I️ wouldn’t leave your degree program. Finish and go get a job in RE.
I have about 2 years left. But that would be 2 years of strictly focusing on school. My school is notoriously heavy with the work load.
so you just started? If you don’t finish I would suggest not getting another degree. You don’t really need a degree for this stuff.
That's great you renovated a condo! It sounds like you have the drive...
I would ask you what your next goal for the next year? Then break down your goal into Q1, Q2, Q3, Q4- and you can hit weekly targets which will lead you towards your major goals.
@Adam Eckerman Most careers in real estate do not require a degree. Some of the more specialized areas might but most folks in this field come to it with other backgrounds. If you enjoy your studies and have a passion for it then go ahead and finish it but recognize it may not be directly applicable to your career. At the same time, a degree in architecture could give you an advantage in understanding structural quality/integrity when analyzing properties. Best of luck.
@Adam Eckerman Take this coming from a 61 year old guy who sincerely wishes he had jumped into REI 35 years ago.
I wasted decades of my life chasing a career in medical sales. I started off by knocking on the doors of doctor's offices selling diagnostic equipment.
I worked my way up through the ranks from regional sales manager to national to director of sales - I had finally made it. Then the company was sold and I was, as they say, redundant. I was told by the CEO that I was to go back to Boston and be a street-level salesman again.
BOOM. Dawn finally broke on Marblehead.
I had spent the last 20+ years working for people and companies who didn't give a rat's flea-infested behind about my hopes and dreams - much less my grand career plans.
I finally latched on to real estate in 2014 - something that I'd always been interested in and I FINALLY found my calling.
In the last year, I have made more than any year in the supposedly lucrative field of medical sales - and I've been home every night. No more airport>hospital>hotel>repeat.
I can spend time with family, friends and church. I have my life back.
So in my opinion, you should think seriously about whether investing another couple of years in schooling that's not going to help you is a smart investment.
Not only are you going to accumulate school loan debt, but you're also going to sacrifice the earning capacity of the years you spend in school.
If I had it to do over, I'd have skipped college altogether.
Hi, @Adam Eckerman
I think we've all been through this situation at some time in our lives. In my opinion, you should do what you like, real estate is the vehicle for a better financial life. You can work on what you like and at the same time make investments in real estate.
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