Does an accounting degree help in commercial real estate at all?

Question

I'm trying to see if going to college for a bachelor's degree, learning accounting and earning a CPA will benefit me in real estate in the future.

Any feedback will be appreciated, at this point I'm a little confused and would love some feedback from people in the industry!

Thank you!

Alina Trigub · Answer

@Netanel Ashkenazi

Welcome to BP!

I agree with @Greg Dickerson, degree in Finance will be a lot more beneficial and yet generic enough if you decide to to go into another field. On the other hand, if you're 100% determined to stick to RE, you can get a business degree with a concentration in real estate.

Greg Dickerson · Answer

If you want to get into real estate a degree in finance will go much further. The capital has the loudest voice and controls the deal.

Basit Siddiqi · Answer

@Netanel AshkenaziAccounting degree will allow you to get an above paying job out of college.It will also allow you to see real estate as a business and see how the numbers work on a deal.You can think of many degrees/trades that can help you become a better real estate investorContractor/electrician - will allow you to better understand the in's and outs of a property. You may also be better able to determine what the rehab budget is to fix up a propertyAccountant - Be better able to understand the numbers. You may potentially be able to do your own bookkeeping and tax returns.

Raymond Shipley · Answer

If you want to be involved with the actual deal making in commercial real estate accounting would be a VERY indirect path towards that end. It's not a bad profession (I'm a controller) but I haven't seen many people transition into an "operations" role from being an accountant. It provides a steady W2 which does make obtaining debt easy but it would be better to go directly after the profession you are interested in.

Ronald Rohde · Answer

I think a strong degree with a high paying W2 job is the lowest risk, highest % of success. Buy a 4 unit, rent and renovate. Move up the chain using your W2 as debt borrower. its the best of both worlds, IMO. You need capital to make big moves and unless you have a handy source of family or friends, you need a strong paying job that will allow you to save $100k+ per year.

Scott Mac · Answer

@Netanel Ashkenazi

Hi Netanel,

Probably not, but working as an accountant for an outfit like Greystar (might) if you want to learn some tricks of the trade in big time deals, but that could take a long time and there are no guarantees.

For small time stuff, like flips and SFH and small multi-families you can learn what you need to know on your own and use the money you would have paid the college and CPA prep people to make down payments on real investments for yourself.

Good Luck!

Does an accounting degree help in commercial real estate at all?

Does an accounting degree help in commercial real estate at all?

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