What career could benefit a college grad interested in real estate investment?
I am a sophomore in college interested in pursuing real estate investment after accumulating enough money/experience. I have considered working at a small real estate investment company for 1-2 years after graduating and then pursuing a JD/MBA focusing on real estate. How valuable would legal knowledge of real estate be in an investment career?
Would it be better to ditch graduate school and focus on a career at a firm?
Thanks in advance
Answers
653 points
DaveDiggz answered 6 months ago …
You probably want to try working at a Real Estate DEVELOPMENT company first - anyone I know who has done well in real estate started out in development. Reason being, it always helps to know how your product is manufactured. Plus, depending on what type of real estate you get into, you'll probably end up dealing with development firms anyway.
And no matter what, definitely work for a couple of years before investing the time and money into grad school. You might even find out you weren't meant for a career in that particular field. So getting out there, getting experience, etc., is probably the best thing you could do.
3127 points
EthanR answered 6 months ago …
My guess is if you start off working for a real estate company that specializes in investments, you will ditch the grad school idea pretty quick. However, a good education is never a waste of time. I am thinking perhaps a Master's in Finance, rather than an MBA, would be more helpful.
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698 points
7million7years answered 6 months ago …
Both answers are good, and anything that gives you commercial experience is great ... just ditch the idea of BECOMING a developer (will be tempting if you work for one); if you become a developer, you tend to confuse the BUSINESS of real-estate developing with actually INVESTING in real-estate.
I have a degree in IT, yet somehow I managed to parlay that in a multi-mill. property portfolio ... but, if I had my time over, I'd do IT + accounting.
For REAL commercial experience, I would definitely ditch business school (by that I mean, business as a subject ... stay in school!) and start a business - any business - on the side. Pretty soon, you'll know more than your professors ... just ask my 13 y.o. eBay-business-owner son (sources his own products, writes his own ads, keeps his own set of books .. all with no help from me or anyone else).
677 points
Dragonsbane answered 6 months ago …
I will agree with everyone else and suggest that work experience is far more valuable than an education on paper. Nothing against a good education, but for the price it's probably quite overrated (or at least that's what I've heard). Everyone seems to have suggested development. I would also suggest a commercial real estate brokerage, they do everything from property management, investment management, marketing and even development these days. If you can't find a decent job since the industry isn't exactly flourishing these days, I would also suggest cold calling executives until one gives you a job, an internship (even unpaid if needs be). If you have balls and persistence, I'm sure that this will land you a far better job than any job you could get without personal connections in the industry.
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2547 points
Oldman answered 6 months ago …
Here are a few supplemental suggestions of areas that will be of use: Study English composition and writing, so you can read the legal and financials, and recognize obfuscation. Study some economic statistics, so you can understand some of the limits to statistical projections and analysis.
Go to the home sites of Cohen & Steers (stock symbol = CNS) (a real estate investment manager) and look at the backgrounds of their officers and what they might want to see in employees applying for positions.
Be aware that "legal" is only as good as the interpretations, and MBA's are only as good as the common sense in evaluations.
On the job experience show what needs further study. Study stops when you die.
677 points
Dragonsbane answered 6 months ago …
Anyone here in commercial RE or RE development?
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norbust answered 6 months ago …
i took a course on realestate law and real estate investing online through edison community college of naples and ft myers fl.
investing in realestate do not invest in mobile homes or condoniums try looking for a property like a single family home, villa, apartment or townhouses that need little cosmetic improvements to the house.
if you don't have time to manage your property i would encourage all begginners to look at a reit where you share the divend earned amongst the other share holders of the land.
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