Beginner Real Estate Education Question?

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I'm surprised! Opening this thread I thought it would be saying go with this guru or mentor, I really like seeing others suggesting a formal conventional education. Real estate is part of the finance industry, a specialty under the finance umbrella. My undergrad carried a double major, finance and accounting and a minor in economics. That was absolutely the key in getting into finance and real estate, my grad level in finance honed skills but it becomes rather unrelated unless I get into a corporate side. Just saying, it can be overkill if you're at the street level of investing. Most think that accounting is for the bean counters who want to be in taxation and/or a corporate office. While that's true, accounting is the language of business, any business at any level. Finance is the engine that drives business, any business at any level. Economics provides the laws of business, yes, any business at any level. I started in RE before I got in the Army, I continued picking up properties as I moved around, not to veer off to tell my story but the Army paid for my education. I started in RE getting information from real estate agents, a builder, a couple attorneys and coffee shop talk with wheeler dealers. I found out the wheeler dealers could get me in trouble and get in my pocket. After school I had to relearn the way I had viewed RE early on, I should have started learning the basics of RE instead of jumping into trying to do a deal thinking like a mechanic. I also suggest you take every business law course, insurance and estate planning course you can take, especially law. To be on the safe side, build your education so that you can be flexible in any profession. Your first concern is earning a living, not "investing". While I had one foot in RE, had I not had the degree I would never have gotten into FDIC as an examiner. That took me into banking and law on a formal basis. That also meant REOs, mortgages, commercial lending and appraisal of RE, businesses and assets. All relating to RE. I then found myself in the mortgage business, directly related to RE investing. Going over this is only to explain that doors open based on your education and experiences in your profession. You're looking for stepping stones through your career that lead you to your interests. Many of those stepping stones will appear later on, unknown to you if you tried to map out a path today. Opportunities will arise and your ability to recognize them will be well grounded in your formal education, not in strategies of any niche of any industry. You lean in the direction you want to go. Develop your experience that leads to expertise in the industry, again not so much in some niche aspect of an industry. Then you'll hopefully land in your area of greatest interest based on your skills, education and expertise. Don't chase the money, chase knowledge and your interests, the money will come. :)

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Peter, I would never oppose a formal education, and if you plan to be in the business, this might open doors for you. However, along the way, I would devour every real estate book, podcast, and attend real estate seminars and conferences to learn the investment side of the business. I have a BA from the University of Michigan with a concentration in Marketing, and although I learned a great deal about business, my formal education didn't prepare me to run my own one day. I learned the investing side by doing the things I mentioned above - attending seminars, networking, and paying mentors/coaches - and oh yeah, jumping in and buying a property. I would also suggest you pick an asset class that excites you, before just buying a house to rent because "everyone else started here". In addition, It helps to at least build a team of lenders, attorneys, and other advisors prior to launch. However, don't wait too long or become prey to paralysis by analysis (or whatever the phrase, you know what I mean). Too many of my students spend months planning, but never launch. Aim, then PULL THE TRIGGER. And as always, feel free to jump on here to ask a question from your unpaid, but highly professional board of real estate advisors! Keep us posted on your progress.

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I am very glad I almost got a two year degree in accounting. I really like that it is much easier to talk with my tax guy.

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Thanks to everyone for your thoughtful responses. I guess the general consensus is to get a degree in a related field to REI but, not to rely it for the majority of what I'll need to know to be successful. I look at myself getting a formal education as a way for me to earn the capital to invest while at the same time gain valuable business skills that will help me in REI. I'm very grateful to have found BP.

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@Christopher Giannino Thanks for the input. I do have an interest in business so I think I should be fine getting through it. @Liam Goble I will look into it, thanks.

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@Tom Meade Thanks a lot. I'm glad to hear that your similar degree has served you well. I feel like the more I can learn about REI in the next 4 years the more confident I will be when it comes time to make my first deals and also make the learning curve for me shorter than normal.

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message me directly and ill give you a list.. If i do now, it will get flagged

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@Gavin Welch I have been absorbing as much as possible about REI over the past month or so through books, and online resources. Do you have any good podcasts to recommend?

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I have a Bachelors in Business Administration/Finance concentration. I wasn't aiming to be a real estate investor in college (actually not sure I was aiming to be anything too specific at that time) but that degree has served me well once I landed in the industry. I went back and got a certificate in RE Finance, paid for by the equity syndication shop I was working for at the time. Education is huge, especially when it's paid for and you have a clear idea of where you want to start your post-navy career. While Bryan may be a little more glib than needed, there really is no substitute for learning by doing - you gotta just get in the trenches and do some deals. But having a good business education behind you will only help you along the way. Thank you for your service, and best of luck in all your future endeavors!

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I would think a degree in economics, rather than a specific business interest, would be very valuable. With an economics degree, you would be able to look at market trends as a whole and determine (hopefully) where the market will be going.