All Forum Posts by: Christopher Christian

@Jim Pellerin This is  something that I have heard over and over, and getting my real estate license is another approach I am considering. Thanks for the advice! 

@Ryan H. Joseph I love what you said about setting more obstacles for ourselves. The time and money commitment would certainly be a huge obstacle to financial independence, but up to this point I have only been viewing the MBA as a way to overcome obstacles. Fantastic point.

While Rutgers is the top public business school in the Northeast, it is certainly no Harvard or Columbia. It is, however, less than half the cost. To your point, I have read many times that unless you enroll in a top program you are wasting your time. I wonder how true that is.  

While I do have corporate finance experience, so many of the real estate industry jobs I have seen require prior experience in that industry. I also want to get more into the acquisitions side of things which is not something I am exposed to in my current role. I work in the music industry, so it would be quite a jump! 

Thanks so much for the response, and best of luck!

@Caleb Heimsoth I considered this as well. From what I have read (and what admissions at business school reinforced), the part-time MBA is more suited for those trying to advance in their current career while someone trying to change careers would benefit more from the full-time program. I wonder if it's still possible to change careers with the part-time MBA, though. 

@Chris Jensen Great points. I am considering the MBA to increase my earning potential as well, but taking on all of that debt and then not being able to land a higher-paying job would be a nightmare. As you mention, the loss of borrowing capacity is a huge concern for me as well. I love your idea of trying to get a job in the real estate industry without the MBA. For some reason I have it in my head that making a career change like this would require the MBA, but maybe not! Thanks so much for taking time to reply.  

@Ernesto Hernandez This is a good point. My current problem is that my income makes it difficult for me to save anything substantial to invest in real estate at the moment. To your point, however, taking on $60K in debt at 38 years of age is certainly not ideal. Perhaps I will explore other ways to increase income that requires less of a time/money commitment. Thank you for the response! 

@Caleb Heimsoth Thank you very much for the input!

Hello!

I have been driving myself crazy trying to determine whether or not I should go the MBA route, so I'm hoping to tap into the wisdom of the BP community to help with this huge decision.  I'm considering Rutgers Business School in NJ, which is the #3 rated MBA program in the NYC metro behind NYU and Columbia. Average starting salary for graduates is right at $100K, and upwards of 90% of graduates obtain employment within 3 months of graduation. The cost of the program is $60K.

A little about me:

-38 years old (would finish the program at 41)

-I currently work in corporate finance at a large media company with 2 years of experience in the department. I have been with the company for 10 years but worked in operations then account management for the first 8. Basically, I have 2 years of corporate finance experience in media.

-Current salary: $60K-$70K range (I live in the NYC metro, so this doesn't go very far.)

-My ultimate goal is to build a real estate portfolio to help me reach financial independence, but I currently own zero properties. Again, living is expensive out here!

Why I'm Considering an MBA:

-To increase my income to have more money to invest in real estate (I have already cut spending about as much as I can). 

-To (hopefully)  land a job in acquisitions at a large real estate firm (ex. Marcus & Millichap) to develop a deeper understanding of commercial real estate and to expand my network in the industry. I also hope to work in an industry I am passionate about.

-I love learning new skills

Concerns:

-That the $60K in student loans I would take out will be detrimental to obtaining financing for my own real estate acquisitions.

-That I may be able to make the career change without an MBA by teaching myself the necessary skills and by networking. I don't know how realistic this is, however

Ok. That's it in a nutshell. What do you think?

Thanks!