Real ROI of a JD/MBA for CRE Investing/Development?

Question

Hi everyone,

I’m looking for perspective from people who’ve built careers in commercial real estate investing or development. I’m currently in my first semester of a JD/MBA program at age 22. My long-term goal is to work in commercial investing/development, and I have no intention of practicing law. I also don’t plan to pursue IB or REPE.

So why did I enroll in a JD/MBA? Honestly, family pressure played a significant role. Now that I’m actually in the program, I’m questioning the opportunity cost. I’m not at a top-tier school where the credential or network would create a major career inflection point, and I’m struggling to see a meaningful ROI for what will be another 3.5 years of school plus debt.

My intuition is that gaining direct experience—getting involved in deals, development work, underwriting, operations, etc.—would be far more valuable for where I want to end up. But before I make a decision, I’d like to hear from people who have actually taken these paths:

• Does the credential meaningfully change career trajectory without the boost of a top-tier name/network?
• Are there scenarios where the letters alone generate sufficient ROI?

Does the credential meaningfully change career trajectory without the boost of a top-tier name/network?

Are there scenarios where the letters alone generate sufficient ROI?

I’d appreciate any input—especially from those who’ve been operators, developers, or investors in the commercial space.

Thanks in advance.

Chris Seveney · Answer

if you want to get involved in deals, go work for a real estate company. It would be the best education you've ever received, and you get paid to learn

Elealeh Fulmaran · Answer

Candid take: outside a top program or a legal career path, the JD/MBA rarely moves the needle for operators; deal reps, mentors, and a tight track record do. If you want development/investing, stack experience now: join a local sponsor or GC, underwrite 1–2 deals a week, walk sites, and learn entitlements and capital stacks. If you stay in school, engineer ROI by targeting internships with active developers, picking courses that sharpen contracts, zoning, and negotiations, and building a sponsor network; if you don’t see a clear path to paid reps within 6–12 months, consider pausing and going full‑time into an apprenticeship. The letters help when paired with real deals; by themselves, the ROI is thin.

Henry Clark · Answer

OP.  Magna cum laude, Phi Beta Kappa, MBA, CPA at largest CPA firm in the world.  Controller, CFO.  It helped to train my thinking.  But not worth it for our CRE investments.  Actually it will slow you down as you will get trapped by the salary.

1.  Commercial is tough. You can’t live off it the first few years, so you need a day job.

2.  As a half way measure.  I would sign up for military JAG.  Get college paid for, get paid,  believe 8 year commitment.  You will get Base Housing Allowance which is tax free.  Use this to build a cash snowball and buy houses and sell for profit.  Build up about $400,000 over the 8 years.  Or stay in and keep investing.

3.   Get out and start syndicating or do your own investments.

Real ROI of a JD/MBA for CRE Investing/Development?

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