good education background for real estate investing?

Question

My long-term goal is to get into real estate investing. I have completed the education required for and will be taking my real estate license exam next month. I do not have 6 months income saved and do not see it feasible with school and work while living independently. I would like to pursue the education or degree that would be most beneficial in the long run for investing. I have thought about Construction Management (associates) and then from there pursuing a Construction Engineer (bachelors) degree hoping the experience and knowledge will help me flip homes and start saving for investing. My brother is taking the business route in real estate and going for the Business Management degree. We both eventually want to end up owning a business together and so I would like my education to bring equal value to the table. Any thoughts, comments, or suggestions would be greatly appreciated.

Answer 1

It sounds like you are spreading yourself pretty thin! If you do not have some money saved up or another source of income, then pursuing a traditional real estate agent position will not be easy. Most large firms are going to require you become a realtor, there are MLS monthly dues, desk fees, Errors and omission dues and marketing fees that you have to consider. Most agencies also require you have 100/300/100 insurance limits on your vehicle if you don't already.

Figure on at least $1,000 up front and a couple hundred a month in fees.

I can offer you an alternative if you email me with your request. We are a national company expanding rapidly and offer an alternative to the traditional brokerage that I think may appeal to you and fit in your schedule.

Answer 2

I have been investing full time for 6 years. Most real estate investors are not real estate agents. Most have gone through the school of hard knocks. Networking is the best, know the market, know the contacts, talk to everyone in the market even if they seem silly or worthless. Experience is everything and college cannot teach you what you need to know about the nuts and bolts of investing. The gurus have some knowledge, but take care to filter the message.

Answer 3

Best of luck to you but I don't think it takes a degree at all. What it does take is a sixth sense that they don't teach in college. The only way to get it is to get in the street and wheel and deal.

I do think studying and passing a brokers license exam would help if you open a Real Estate Brokerage business, that's how you can snag the cream before it hits the market. More Millionaires are created this way than any other.