Should I get a 4 year degree?

8 Replies

I am currently attending a community college to get my Associates degree in Business. I am wondering if it would be worth it for me to go to a 4 year college after? Or should I i complete my two years here and go straight into it? I plan on becoming a real estate agent and plan on representing buyers to start. I also would really like to find a solid Triplex or Fourplex that can cash flow to house hack, getting kind of sick of paying someone else rent every month when I could be the one collecting this “passive income.” I understand that there is far more to it than collecting a check every month, but I think the possible benefits far outweigh the work required. I was told it would be easier for me to get clients when representing the buyer because it can be hard for a young new agent (19 as of now) to gain trust when it comes to selling someone’s home. If you think I should further my education and get the 4 year, what Major? Marketing? Economics? Would I be more respected as an agent if I had a 4 year? Or will a 2 year do the same trick?

Side note: Anyone here from the Grand Forks/ Fargo North Dakota area and know of any BP meetups? Or looking to start one? Just looking to network and soak up as much information as possible.

I would definitely encourage you to get your 4 yr.  You can stick to Business Administration.  Most people won't select you as an agent because you have a degree, they will select you  based on your knowledge and likability.  However, getting a degree isn't just about the topic.  It teaches you HOW to think.  What are good questions you need to ask, what are some other way to look at scenarios, how can I apply some creativity to this to make it work for my client, how can I work to make this transaction work well for everyone, etc.  It's also a good backup if things don't go as planned.  Think exit strategy.  

On  side note, if you decide to become an agent you will need 2 years of solid income before you can qualify to buy a property.  SO, if you are wanting to do that sooner rather than later, it might be worth it to get a job first, and then start your RE career. 

Good luck!

If you're unsure of what you want to major in I wouldn't personally waste the money on a 4 year for a degree that you might never need. How will a 4 year degree effect your ability to obtain a mortgage in the short term? Will you be able to get a job in a field where college debt makes it worth it in the long run? Have you ever had a job? Do you currently work? If so does your current job have alot of room for growth in the future without a special degree? Are there any other fields that your interested in working in besides being an agent? You could try another job and work PT as a agent and build that up on the side? That way it limits the strain of solely relying on income as a agent and still keeps things fun. 

I know a lot of people would tell you otherwise but theres nothing wrong with finishing your 2 years and going back later. Gain some life experience at 19 years old most kids are busy partying and running up their debt. Learn from others mistakes and try to break the rat race.

I got degree and has helped me personally, if you choose to do so you could have your college buddies rent from you in a house hack so you can still live cheap, just dont rack up student loan debts. tough question to answer via a thread.  I would find some people you emulate and ask them

You don't need a degree for real estate investing or working as an agent. Take it from a guy who does both and has 2 engineering degrees.

Life is a little bit like chess and a favorite philospohie of mine is: always act in a way that increases your options. In other words, don't get backed into a corner.

Agents have a 87% drop out rate in the first year and similar in year 2. If you make it to year 3 you are a veteran. So you may not like it as much as you thought.

Going to college is one option, going into the trades is another. A skilled trade will earn you more money faster and you won't be in college debt. The question really is what is a good fit for your personality, what would you enjoy? If you have a love for academia, go for it - if you dread it, don't torture yourself, there are plenty of other options that can be very succesful. Don't think W2, think business owner.

Get one that makes money like engineering, then turn that into a business, then figure out what you want to do.  I did English but I had technical training in estimating and construction to go with it so I really didn't need the technical degree.  I'm anywhere from $100 to $200 an hour for my opinion depending on the project.  Not full time, but at rates like that I don't have to be.  There's good money in knowing real estate numbers and a sense of resolving issues in the field.  That money comes in handy when you need it to make a deal work.  Real estate is a capital intensive business.  Don't let anyone fool you into believing otherwise.

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