McKenzie
How will a degree in Business Finance help me to become a real-estate mogul?
I want to buy/ sell real-estate. Ultimately, I would like to own a real estate company. #real-estate
5 answers
Coni J. Mackey
Coni J.’s Answer
Hello McKenzie R,
A degree will give you the basics of running a real estate business, but if you want to buy/sell real estate you will need additional training. Also, it depends on what KIND of real estate you will be buying and selling. Are you talking about residential or commercial? If residential, homes or 1-4 families? If commercial, apartment complexes, office buildings, hotels, strip malls etc.? Research different types of real estate and specialize (learn all you can) in one area.
My experience has been in buying and selling residential homes. My education was working in title and escrow companies, mortgage companies (and eventually owning two), commercial real estate companies, going to different seminars and reading every book on real estate (buying and holding, flipping homes, investing in mobile homes, lease options, how to be a landlord, just to name a few), to hone my skills.
Having a college degree is great, but nothing beats experience, having a mentor and learning the basics of negotiating! From my experience, common sense, having a passion for real estate, and knowing your numbers have made me successful. Good luck!
Petet Otub
Petet’s Answer
It will help you understand structured transactions, however, you don't need a finance degree to become a real estate mogul. You just need to understand real estate, real estate markets, and opportunities as well as well and how to get financing.
Personal financing you need great credit score
Herman Sheynin
Herman’s Answer
The beauty of Real Estate is that it is simple to understand and does not require skills beyond, reading, writing, very basic math.
It does however require great people skills and the ability to create and maintain long term relationships with many different types of people.
So to answer your question, a degree in business finance will not help you to become a real estate mogul. IMHO - It will put in in debt and reduce your chances of saving up enough money for a down payment on an investment property.
Lori Gattineri
Lori’s Answer
Business finance is a great way to get started! Take the opportunity to learn as much as possible. If you find classes focused in commercial real estate finance take them. Getting a good base of knowledge will help you build you confidence so that when you are working on your acquisitions you can know the finances behind the investment.
terry pritchett
terry’s Answer
It will help you in any aspect of finance, your own or others. It will also help you in every day life. Take as many classes as you can, get your Real Estate license, join a networking group. Work for a Real Estate company to get your feet wet and learn the industry. Always be open to opportunities, big and small and keep asking questions! Have fun! It's a life long experience!
Be willing to learn, and understand numbers.
Dino Bruno