College Major?
I start general education classes here in June I'm going to a school here in Kansas City called UMKC looking at possibly majoring in economics , I just wanted to hear from members on Biggerpockets that did go to college; What was your major ? & would you say your major was beneficial to your Real Estate Business .?
Thanks,
A.D
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#3 Guru, Book, & Course Reviews Contributor
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#3 Guru, Book, & Course Reviews Contributor
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Undergrad was a double major accounting and finance and minor was economics then an MBA.
What is most important that you obtain the degree, show that you can finish what you start so to speak. Few actually end up working in the area of their major. It seems to me that all basic business classes will be applicable to RE, even marketing lol.
RE really requires analytical thinking, an ability to creatively solve problems withing given constraints and social skills, but then that could be applied to any career.
If I had were an EE, I'd be inventing the latest gizmo widget, a red one, lol! Engineering is the hot major or our time, not business.
Actually, as I have told my sons, RE is something to do as a second career, building long term financial security, it's not really something that makes a great reliable income in the first few years for those of limited or even significant resources, IMO. Any if you have greater resources, banking is a better choice. Related or complimentary careers or education is the way to go. As an engineer, you might own a heating and air company, or an electrical company that will generate profits. Being a survey engineer will always put you in an area of land use changes.
I would suggest you consider fields that provide a good financial security in themselves and most important in a field that you are excited about, that you will enjoy.
Your personality should guide you as well. Are you really entrepreneurial or are you happier having more security and fewer headaches. The days of being an engineer and working for a large corporation for your entire career are probably over, but being marketable in the world economy is key.
You will need to love what you do to be the best at it. It doesn't really matter what your major is, but the more challenging the path the greater the rewards. Remember, the very best trash collector is a very successful person. Good luck
BA in History. Helped in a round about way. I think it gives me better perspective and patience. Though, no history jobs ; )
BS in Chemical Engineering. Hasn't helped me directly in real estate, but my analytical nature in general definitely helps.
I'm glad I went to college, but in all honesty if I had known then that I wanted to pursue real estate, I may have skipped it altogether.
Sociology has helped me in real estate and in life.
I graduated with a dual degree in finance/real estate. It definately helped me. I'm in Columbia graduated from University of Missouir-Columbia, not far from you.
#4 Off Topic Contributor
- Investor
- Round Rock, TX
Electrical Engineering undergrad and MBA graduate work. Both have helped me a great deal with investing IMO. EE taught me to be very meticulous and has made the finance coursework quite easy. The MBA helped a lot with background business information.
The real world is the best teacher though! There are many things you can't learn from a book.....although the books do help more than many lead on.
Almost finished with a BA in Sports Management, not sure if I want to go straight to grad school or not.
Could anyone use an intern??
Sounds like we were cut from a similar cloth Bryan! My undergraduate degree was in Physics and I received an MBA a few years ago.
I can't tell how useful the physics degree has been to real estate, but I certainly understand the thermodynamic principles that govern the vapor cycle in your typical residential air conditioning unit. :mrgreen:
The MBA on the other hand has been very useful, but certainly NOT a requirement for RE investing. For me, college is about gaining an Education, not simply learning a Trade. There are several things a good businessman should know whether he's flipping houses or building rocket ships, such as ethics, deductive reasoning, spelling/grammar skills, communication, etc.
The best business people I know are very well rounded. Some of the poorest are absolute experts in one narrow field.
Accounting. Very helpful when tax time arrives. If I had to do it over I would skip college and start my investing career earlier.
BBA in Management
My bachelors in Accounting and masters in tax have proved quite useful.
Never under estimate though what you learn in the school of hard knocks and from those you connect with.
Marketing Major with a Logistics Minor here.
All in all, I believe graduating through a business college will help your understanding of all the things required to owning your own company. Book keeping, cash flow, sales, inventory, etc.
If you're hardset on Economics, I would definately make sure you acquire your degree through the Business college at your University. At my school, you could either get a Bachelors of Business Administration in Economics, or a Bachelors of Social Sciences in Economics. The business route included the Accounting, Finance, Marketing, Management, etc. The social science route didn't include any of these.
I have a similar background to Bryan and Mitch -- Undergrad in Electrical Engineering and MBA...
Undergrad in Engineering Physics and an MBA. My dad is a residential builder, so I also learned a lot from him. I think all three parts of my education helped me become a RE investor.
Ph.D. from the School of Hard Knocks
(summa cum laude, naturally...)
Definitely a strong trend here with at least 4 with engineering/science undergrad degrees and MBAs.
#4 Off Topic Contributor
- Investor
- Round Rock, TX
I'm trying to figure out if that is a good thing or a bad thing :mrgreen:
education major....may have helped in teaching me patience, which is great, since now i 'babysit' grown adults twice my age...aka tenants! it was actually my hatred for the college that made me tired of paying ridiculous sums of money for on campus housing, and so i eventually looked to live off campus, where i bought a house and rented out a bedroom..... and this fueled my passion for real estate...so, in a round about way, thanks college!! :D
#3 Guru, Book, & Course Reviews Contributor
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#3 Guru, Book, & Course Reviews Contributor
- Investor, Entrepreneur, Educator
- Springfield, MO
Undergrad was a double major accounting and finance and minor was economics then an MBA.
What is most important that you obtain the degree, show that you can finish what you start so to speak. Few actually end up working in the area of their major. It seems to me that all basic business classes will be applicable to RE, even marketing lol.
RE really requires analytical thinking, an ability to creatively solve problems withing given constraints and social skills, but then that could be applied to any career.
If I had were an EE, I'd be inventing the latest gizmo widget, a red one, lol! Engineering is the hot major or our time, not business.
Actually, as I have told my sons, RE is something to do as a second career, building long term financial security, it's not really something that makes a great reliable income in the first few years for those of limited or even significant resources, IMO. Any if you have greater resources, banking is a better choice. Related or complimentary careers or education is the way to go. As an engineer, you might own a heating and air company, or an electrical company that will generate profits. Being a survey engineer will always put you in an area of land use changes.
I would suggest you consider fields that provide a good financial security in themselves and most important in a field that you are excited about, that you will enjoy.
Your personality should guide you as well. Are you really entrepreneurial or are you happier having more security and fewer headaches. The days of being an engineer and working for a large corporation for your entire career are probably over, but being marketable in the world economy is key.
You will need to love what you do to be the best at it. It doesn't really matter what your major is, but the more challenging the path the greater the rewards. Remember, the very best trash collector is a very successful person. Good luck
MFA from UMKC in.... Acting and Directing
Undergrad in Theatre - Temple
Worked as a professional actor and professor for a while and then my interests shifted.
Absolutely the best degree for Sales :)
While it has been helpful, if I were to do it all over again, I would have done accounting and economics and taken a position in Finance.
I know, I know, they are totally related.
Political Science undergrad and currently working towards an MBA.
They have both helped although in different ways.
BA in corporate finance, and master and phd in economics.
In my opinion it is not so much about the courses studied as it is how you applied it and used it later.
Some material was quickly forgotten, while other material I use regularly and applied early has been very valuable in many endeavors.
Are we talking your ability to "shotgun" a 6-pack of Pabst Blue Ribbon? :mrgreen:
I remember that class well. :D