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What should i major in if I'm looking to invest in real-estate or accounting?

#real-estate #major #career-exploration #accounting

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Chad’s Answer

I have an accounting degree and work as a CPA in a large accounting firm. If you are interested in working in accounting there are lots of job opportunities working in public accounting or for a company. If you wish to be a CPA you will need 150 credit hours total and have to pass the exam relevant to the state where you want to work. The profession is in demand and in addition to accounting classes its often helpful to exposure to data and data analytics which can help you understand the relevance of financial information.

I don't specifically work in real estate but the skills you learn in accounting are often helpful in evaluating an investment opportunity as well as performance etc. I agree with the comments above about the relevance of business law in the event you will be invovled in evaluating legal agreements. There are also lots of hoops to jump through in the event you develop property (permits for example).
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Amy’s Answer

Hi Taisha,

Both of these career choices will require solid understanding of financials and accounting principles. I would recommend either majoring in Accounting or Business with a minor in the other. You may also want to consider getting your Real Estate license, or taking some real estate classes to help you understand the process and become connected to people in this industry. Another suggestion is to take some business law classes as part of your overall degree program.

Good luck!
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Samantha’s Answer

I'd definitely recommend majoring in accounting. If you choose to become a CPA later in life, you'll need a large number of accounting credits to meet the 150 credit hour requirement. People who don't major in accounting and choose to pursue CPA certification often end up needing to take additional classes to get more accounting credits, even if they also pursue a master's degree. If you're not positive what specific career you'd like to pursue yet, majoring in accounting is a great way to enhance your skills and make yourself marketable to future employers, while also leaving your options open in the future. Even if you don't decide to work in accounting directly, the skills you learn as an accounting major will be transferable to many other business, finance, and real estate oriented careers. CPAs are highly respected in the business world and many finance and real estate professionals seek out CPAs for a wide variety of roles.
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Wes’s Answer

My suggestion would be to major in accounting and if you are interested in investing in real estate, consider pursuing a minor in finance. One of the advantages with the accounting major is that you get to understand how the transactions and activities of a business really impact the financial results of the business. With the accounting background, you'll be able to review the financial information of businesses (including real estate entities) that are potential investments for you and understand what drives the business and its profitability. This knowledge will also allow you to consider how future events or conditions might impact the financial results of potential investments.
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Lauren’s Answer

Hi Taisha,
I agree with Amy's response, it would be great to take some classes that would prepare you for work in real estate or accounting.
There is a big legal component in real estate so I definitely recommend taking business law or other law courses. I think it would be beneficial to check out some free real estate learning materials on YouTube and gaining a better understanding of what real estate investment would entail. Also other business classes such as marketing and management would be useful for career exploration as those would tie into real estate as well. In terms of accounting, I recommend majoring in Accounting or Business and minoring in something more specialty such as real estate or law. Another suggestion I have would be trying to get an internship or other experience shadowing a realtor. This would be great for strengthening your real estate knowledge and getting real world experience.
Best of luck to you!
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Jelani’s Answer

I would say you can major in Business Management with a concentration in Real Estate.
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Andrew’s Answer

I'd definitely recommend a Business Administration degree with a concentration in Accounting. From my personal experience, I originally had a concentration in Finance and an accounting professor recommended that I switch my concentration from Finance to Accounting since with an Accounting focus, one can do both Accounting and Finance. On the other hand, with a concentration in Finance, you're essentially limited to Finance. That actually played out in my career path as I started my professional career at PwC and later had the opportunity to transition to a finance role at a different company. For the real estate side, I agree with previous responses on looking into obtaining a real estate license.
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Krishna’s Answer

Hi Taisha,

Great question! These are great fields to get into. In terms of majors, you have a variety of options. You can opt to be an accounting or business major and concentrate in real estate as a specialty. You may also want to consider if you want to become a CPA or not as that will require additional credits whether it be through another major or grad school.

Good luck!
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Jessica’s Answer

In this case you need to get a knowledge in accounting, finance and real estate. So you can pursue a degree in Business Administration, Finance or entrepreneurship, depending on what you like more.
If you are not into numbers, you can check this link : https://www.collegeconsensus.com/degrees/best-degrees-real-estate/ that offers other diversified options such as : Digital Marketing and Graphic Design.
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Brennan’s Answer

I would recommend taking classes on project finance and financial modeling. Once you know how to model, every real estate project becomes a model.

Taxes are very important in maintaining and keeping a good rate of return for investors, so also pick up taxes.

Lastly data analytics. Without this knowledge, you will be behind in any industry in the future.

Often the accounting can be picked up, so basic entry level accounting courses help, but time better spent in financial modeling, data analytics, and as the others stated, real world real estate experience.
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Adam’s Answer

Obviously accounting classes are a given. I also agree with Brennan's response in terms of areas to focus on.

One thing I will add is that you also want to take some non accounting/analytics classes. Maybe these could be something like sustainability or operations management or maybe even child psychology or something like that. If you go the real estate route depending if it is commercial or residential, you'll want to have some of that basic knowledge so you can speak intelligently on various related areas as well as aiding you in your ability to relate to potential buyers and sell property.
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Andres’s Answer

Hello Taisha,

Personally I would suggest majoring in accounting or finance.

I chose accounting because I felt like there was a path with the CPA to generate consistent and sustainable income but both are good options and prepare you well for the workforce. Accounting is also very diverse and provide you with the flexibility to explore finance careers if you want to try something different.

Real Estate is interesting and can have good career outlook as well but you do not need to graduate with a degree in real estate to get a real estate license to buy/sell homes. I personally just sold my home and my agent had an MBA and a degree in business administration. If you would like to learn more about real estate before exploring that as an option you can always to take a class as an elective .
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LaTonya’s Answer

Taisha, you may want to review the real estate rules of your state. The link below should assist you:
https://www.mass.gov/real-estate-brokers-and-salespersons-licensing

I hope this helps.
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