Because of my special ability to make money without working traditional jobs everyone tells me to major in Business. So thats the plan right now. I love helping people so I was hoping to learn more about becoming a financial adviser. I just don’t want to be in a situation where it takes years to make decent money.
I want to use my investment skills in the real estate market asap. But I need a reliable decent paying job to begin how I would like. I’m currently under the Finance degree route, but I’m afraid that it will be too broad for me to land a good job out of college.
So should I continue with a business degree? More specifically for someone wanting to own duplexes/ trailer parks/flip property would a finance degree/w business minor be the best option?
Thanks all.
Thanks for both of yours answers but I need a little more help. I realize that I do not actually need a degree to work in the real estate field, but I do want a decent paying job fairly quick out of college.I want to make 30k/yr pretty quick out of college save up money and buy a duplex or rental unit of any type. Pay this off asap then buy another and so on. Just a basic strategy that should work since I’m a single young person. I know that a finance degree will eventually help me in anything related to business, but I do not want to be stuck in a situation where I cannot find a job with a degree in Finance. Also I am not dropping out. I want a four year degree to keep graduate school & political interest in the future open.
So the question is- How confident can I be in landing a decent landing job out of college with a degree in finance? Or should I get a degree that guarantees me a job completely unrelated and just read books about real estate?
3 Responses to What is the best major for a entrepreneur/investor looking to deal with real estate?
No need to get a degree for that kind of stuff.
Just learn Excel and read a lot of books, articles, etc. and with those analytical skills + hard work, you can do everything!
Best to get a real estate license b/c it will be cheaper for you that way.
Hello,
Here is my personal advice. My husband is a full blown entrepreneur. He dropped out of college 1 semester shy of graduating with an accounting degree to pursue his business interests. The accounting classes (especially tax) was the only beneficial thing he learned. If you stay in college, then major in accounting/finance. This will apply to any business. If you want to drop out, then trust your instincts. It will probably take a while to build up a decently profitable business, so keep that in mind.
Also, here is a good article about traits/characteristics of an entpreneur. Good luck with everything!
You sound a lot like me…
I went the same route as you: Got a finance degree, bought a duplex in college, pulled equity out two years later and bought a fourplex, got a job after college helping entrepreneurs and startups with angel investments and now I work as a business consultant and I own a couple of businesses myself.
So…from my perspective, you seem to be on the right track with real estate. It is a good investment especially if you can live there for two years when you purchase it. Owner occupied properties have lower down payment and longer loan terms so long as they are 4 units or less.
Regarding the degree…Finance is by far the best degree if you are interested in real estate. Analyzing cash flows, figuring “net present value” and capitalization rates are imperative to making sound investment decisions that will make you a profit.
The problem I have found with a finance degree is not that it is too broad, the problem is that the workplace views people with accounting degrees as more suitable for financial analysis positions than people with finance degrees.
I know that sounds crazy, and to a large part it is… People who have been trained to read and interpret financial statements do it better than people who have been trained as bean counters. Finance is a relatively new field so I believe over time it will become more accepted and better for graduates of the program.
Until then, my advice is stick with the Finance degree but add in an accounting minor or even double major with accounting/finance (then you can sit for your CPA). You will never regret taking those extra classes when it comes time to apply and interview.
Regarding a “good paying job” 30K a year shouldn’t be a problem (depending on where you live). In 2002 I made 29K a year starting, after two years I was up to 36K, then I transfered jobs/markets and now I make 52K (but I also got an MBA).
Good Luck
Mr. BizPlan