I'm trying to decided what my college major should be and the closest major my school offers to real estate is finance and marketing. Which one would be prepare me for my real estate career?
Congratulations on having an interest in real estate at such a young age. So I take it you are already enrolled in a specific University. I would major in finance and accounting along with any entrepreneurship classes offered. If they have real estate classes that would be beneficial as well. You might want to look into taking some architectural classes at an entry level if possible.
But let me take a step back...what do you want to do with your life? Do you want to run a real estate business or be an investor or both? There are many amazing careers outside of real estate which provide the ability to invest in real estate passively or on the side. If you have a specific passion or interest in a specific career you might want to purse the high earning career option and invest in real estate on the side until you can duplicate your high earning potential. Maybe real estate is your passion...if it is then become a sponge of knowledge. Connect with as many deal players in your area as possible and focus on getting the best of the best internships. Make sure you stay active in school and keep your grades at a 4.0 (or as close as you can). From there start setting goals for your future. If one of those is building a real estate company start making that happen while pursing an amazing career in the same industry. Transition over as soon as you can (but not too early). A lot of people see real estate as this sexy and easy path to wealth. Well it isn't always sexy and it's almost never easy. I'm making a lot of assumptions about your post so forgive me if I went in the wrong direction.
Finance is broad and can be applied to many fields. It definitely comes in handy when analyzing deals...Good luck!
100% agree with this choice. I did econ with almost enough for a double with finance as an undergrad. It will serve you very well. The thing lost on most aspiring investors is the big picture of how real estate interacts the universe of other choices. You will be able to present the closing argument on why real estate is the superior to your private money partners very effectively.
finance 100%. I have a masters degree in real estate development from JHU. There are a couple schools on the east coast that have MS degrees in the field.
I left college after 1.5 years. I worked in manufacturing and became a millwright. If I had to do it again, I would probably have saved the money and just taken some night classes in accounting. If I were to gonto college to get a degree it would probably be in accounting. I always tell anyone that they should take some accounting classes. If you know how the number work together and can prepare financial documents, cash flow, balance sheet, ect. Then you can run any type of business you want. It is the basic build block of business.
In the end I may be in the minority in my view that folks should focus on getting an education as opposed to a degree. A degree says something however knowing what you are talking about means a whole lot more.
Hands down, major in marketing. Being a real estate professional is synonymous with being a marketing professional. Also, while you're attending college, study, pass and put into practice your real estate license before graduation. In retrospect, this is what I would have done differently. The earlier you get started in real estate, the closer you are to being a full time principal, which is the ultimate end game and reason we're all on this site, right?
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