College Real Estate Courses?

Question

My wife recently just landed a job at the university that we both graduated from. One of the perks is that we both get to enroll in a certain amount of courses each year for free.

The college of business offers quite a few real estate courses. I could just take a couple random classes (online if I want) including Real Estate Principles and Practices and Income Property Appraisal, etc. Have any of you gone through a real estate curriculum, and if so, do I really have anything to lose?

Bill Gulley · Answer

Right, try building a house without a foundation! The difference between a RE Professional and an RE Operator. IMO, the reason people don't start from the beginning is two fold, too much of being in a hurry and being too lazy. It shows in many of the threads here, when someone has a problem with a lien, an encumbrance, the valuation process with odd properties, title issues, even writing a contract or setting up a business entity. Nothing wrong with asking such questions, it's part of learning as well, but seems to me as if the basics missed is often more of a problem because someone jumped in and started something according to some guru and now they must re-learn.

Why do you think some students want to go to Harvard vs a State school? Or going to some small business school. Quality of education, it makes a big difference, especially to your future income. One thread here was about 100 ways to make money in RE, I failed to mention, become a guru! That is a business, education, they do it for the money and prey on those who want the quick and easy way......there is no quick and easy way to be a professional! Good luck, again....

Dave M. · Answer

I also think this is a great idea. The courses are likely more tailored to those who will be working in the corporate real estate world - or already are. To the extent they are from your local market these will be great contacts for you.

James H. · Answer

One thing about school is that it will help you better quantify and organize the ideas behind what is going on. After I finsih my master's in engineering and take the state license exam for civil engineering, I may take some real estate courses at the university and get some sort of graduate certificate. It is possible, with my engineering background, that extra education combined with my real world interest could get me in with a major developer doing some kind of analysis and learning the profession. Just an idea I have played with. Whenever taking classes at at the University, I would make it a point to at least get some sort of certificate with those courses.

Nick Johnson · Answer

Bill Gulley Thank you, that is precisely why I plan on taking some courses. I know real world education is better than anything else, but if I can ALSO get a foundation of knowledge in the basics, for free, there isn't much downside.

I think some people look at it too critically by saying "You'll waste time in class when you could be reading books/forums/blogs and working with real investors." I say, why not do both?

Mark Tamondong · Answer

Hmm. Just like other have said, those courses may be so general that it only teaches an overview and understanding of some basic information when it comes to property investments, etc. and appraisals.

However, for you to better learn in the real estate industry - you have to take more practical courses that will help you in terms of applied knowledge and not just mere knowledge.

Bill Gulley · Answer

Long ago I taught Principles of RE, it will give a good overview so that you understand liens, encumbrances, types of interests held, conveyance, zoning issues, etc.

As Bryan mentioned, personal finance, business finance and business law courses will be the basis for RE investing. Accounting is the language of business, 101, 102 and managerial accounting should cut it just fine. While accounting is all about counting the beans, economics will help you see how the beans are cooked, LOL, meaning that's when the three topics of finance, accounting and economics make the complete receipe. It's about 24 hours all together in the RE arena.  Good luck!

Bryan Hancock · Answer

Finance classes are the most important IMO.

If they offer any tax accounting classes those would be super useful too.

Almost everything else is better learned by doing in my experience.  Perhaps a business law class would be helpful too, but that training is too broad to be super helpful in specific situations.

Nick Johnson · Answer

I'm liking the sound of this course: "Commercial Real Estate Finance." Definitely need to increase my practical knowledge of the math side of things. Seems like that is the quickest way to make a complicated topic VERY simple.

Brandon Turner · Answer

Yeah, I'd focus on anything having to do with the math behind real estate investing! Math is super important, and vastly misunderstood in the real estate investing world!

Ned Carey · Answer

Real Estate Principals and Practices sounds like the title of the textbook for my real estate agents class. I learned some interesting stuff in RE agent school.

I suspect most of these are going to be academic classes, without a lot of practical real world down in the trenches information that will apply to real estate investing. However if there is a class on commercial property it will probably be a very good basis for understanding how to evaluate cash flow.

College Real Estate Courses?

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