Pittsburgh PA · Member since 2018 · 26 posts · 6 votes
Hi all,
I am 19 years old and am finishing up my first year of college going for Accounting. I have only had one accounting class and it does not seem to be that interesting to me, but it is useful and I predict will help with my future of investing.
That being said, I am considering transferring schools to get a degree in Real Estate. The description of the major talks about investing constantly, which obviously I want to do.
While I was searching on the forums earlier, not many people talked about a legit Real Estate major as most colleges do not offer it. Would getting a Real Estate degree be more applicable and help to advance myself or is Accounting a better major?
Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
7y
Hi Bryce,
If you want to be a Real Estate Broker you will probably need to pay a college to get a degree.
In that case look at the Broker Requirements in your state and see if the classes at the college match those required. Then only pay for a school that offers those classes.
Then you can be a salesman/boss of salespeople.
If you want to be a CPA you will have to take Accounting classes, and probably to a masters degree level, then take the CPA exam after paying for an outside study course to prepare for the exam (because the college degree does not prepare you for this).
Then you will probably have to work for a couple of years for a CPA firm to get enough hours to get certified. Then you can do taxes for small business people and real estate investors and charge CPA fees. (but you will then probably have to learn Quick books and some form of tax preparation software, because none of the things you have paid for so far will have taught you that.
If you want to be a truck driver. The median annual wage for a trucker that works for a private fleet, such as a truck driver employed by Walmart, is $73,000, although most make around $40,000 a year.
If you want to be a real estate investor/owner you don't need any college, just investment cash and time to work at it, plus a knowledge of how it works, and a good debt to income ratio to borrow. Plus there is no guarantee you will ever get rich doing this--it's all up to you.
Which one is the best for you? I don't know. Everyone's situation is different and the ALL involve work and risk. There is no golden carpet of easy money in any of them. You will have to make this decision (possibly with the help of your parents).
If you need some clarity on this decision read Tony Robbins book "Awaken the Giant Within" and write out the life plan things the book recommends. (That little step (hard work) has helped a lot of people gain clarity for their future.)
If you read the book, you will need to do things like design your perfect day, and write down if you could have anything you want, what you have. Things like that.
Accounting degree is more versatile. You can still do real estate through investing. First year classes are general, second year gets more specialized, but the real fun started in 3rd and 4th year when classes are much more specialized. Look through the calendar for your college at some of the senior level courses.
Real Estate Broker · Santa Ana CA [South Coast Metro] · Member since 2016 · 459 posts · 202 votes
7y
Most agents do not have a degree in real estate, if you are planning on property managment or planning or city jobs than a BA in RE would be necessary.
Being a CPA you will have a much easier time finding a job and as a CPA you can focus on RE and do RE its easier to get a Broker's license when you have a CPA you can skip the agent requirements