Comments on: What is the best major for a entrepreneur/investor looking to deal with real estate? http://www.famousentrepreneurs.org/famous-entrepreneurs/what-is-the-best-major-for-a-entrepreneurinvestor-looking-to-deal-with-real-estate Famous Entrepreneurs, get expert advice from entrepreneurs Tue, 25 May 2010 13:24:05 +0000 hourly 1 http://wordpress.org/?v=3.0 By: MrBizPlan http://www.famousentrepreneurs.org/famous-entrepreneurs/what-is-the-best-major-for-a-entrepreneurinvestor-looking-to-deal-with-real-estate/comment-page-1#comment-2195 MrBizPlan Sun, 28 Jun 2009 03:04:59 +0000 http://www.famousentrepreneurs.org/famous-entrepreneurs/what-is-the-best-major-for-a-entrepreneurinvestor-looking-to-deal-with-real-estate#comment-2195 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<br><b>References : </b><br> 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
References :

]]> By: Lydia M http://www.famousentrepreneurs.org/famous-entrepreneurs/what-is-the-best-major-for-a-entrepreneurinvestor-looking-to-deal-with-real-estate/comment-page-1#comment-2194 Lydia M Sun, 28 Jun 2009 02:50:59 +0000 http://www.famousentrepreneurs.org/famous-entrepreneurs/what-is-the-best-major-for-a-entrepreneurinvestor-looking-to-deal-with-real-estate#comment-2194 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!<br><b>References : </b><br>http://www.wildtips.com/entrepreneurtraits.htm 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!
References :
http://www.wildtips.com/entrepreneurtraits.htm

]]> By: Aemad http://www.famousentrepreneurs.org/famous-entrepreneurs/what-is-the-best-major-for-a-entrepreneurinvestor-looking-to-deal-with-real-estate/comment-page-1#comment-2193 Aemad Sun, 28 Jun 2009 02:35:59 +0000 http://www.famousentrepreneurs.org/famous-entrepreneurs/what-is-the-best-major-for-a-entrepreneurinvestor-looking-to-deal-with-real-estate#comment-2193 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.<br><b>References : </b><br> 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.
References :

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