going back to school, what to study?

Question

Some may consider it a waste of the investment, but I have the "post 911 GI Bill" to use so I'll actually have my schooling 100% paid for while getting a housing allowance based on the expenses of the area.

If you had this opportunity where would you go, what would you study, and why?

I have a choice I'm leaning towards, but don't want that to color your answers, so I'll leave it out for now.

Bill Gulley · Answer

Follow your dream! Your interests and what you enjoy is what I would suggest. Use your VA to the fullest extent, you earned it! Recently read that employers are looking for people who can think outside the box they are looking for liberal arts students more than business degree types. History, political science, music, languages are just some undergraduate paths mentioned. They are looking for people that can specialize in business with specific training the company way. Business degrees like accounting and marketing are fine with other liberal arts classes that teach you how to think rather than rules and proceedures such as accounting (accounting doesn't get too creative until you get to a higher level). Overall, I'd suggest mixing it up if you want to be in business, get a well rounded broad base education that can provide flexibility in the future. Good Luck Technical degrees were sought as well, programers, engineers and science types. Law is always an option and there are many law students grads, who are not attorneys (some starve...).

Steve Babiak · Answer

One thing that nobody has yet mentioned is: aptitude. I spent a couple of years as a university grad student teaching assistant, and there were some undergrad students who wanted to pursue certain curriculum, but they lacked the aptitude to be truly successful at that curriculum. In other words, if you're not strong in both math and science, don't try to study to be a rocket scientist (astrophysics). Only you know your strengths and weaknesses - choose a curriculum where you can amplify your strengths and hide the weaknesses.

J Scott · Answer

I figured it would get removed as spam. And I'm working on being the friendlier, more accepting J Scott... :)

Don Konipol · Answer

If you meant what should you do, I don't know enough about you. If you meant what would I do, I would get a specialized real estate degree instead of the general business degree (MBA) I obtained.

Jeff Arndt · Answer

I recommend finding a degree that helps you make as much money as possible to fund your deals. Obviously you need to understand simple math for investments, but I really don't know if a specific college degree is going to help if your long term goal is to be a full time investor. I too am an engineer right now and don't particularly like it. However, I figure I can suck it up for a few more years before I can get my business up and running.

James H. · Answer

Ouch that stings a little being an engineer, lol! Just kidding, I know what you mean. It's kind of funny because of all the business owners I know who run consultancies are engineers by training and kind of curl their lip up when they say a smart businessman hires out his marketers and bean counters,haha! I think the lesson is that as a successful business owner/real estate investor, you tend to be a bit of a jack of all trades and and a specialist in only one area. So, no matter what you do, you will need others to fill in gaps. Therefore, do what is interesting to you and you will be more willing focus on that thing. My mom always told me "do what you love to do and then you'll be good at it, and then, If you are good, at it you will make good money at it."

Mike Andrews · Answer

Another thing to keep in mind is that to be successful in real estate you don't necessarily need to study it in school. Being on BP, staying on top of the news and making your own real estate investments is a great way to learn the business and you can study something else, like finance, economics or even political science, in school while you're learning real estate. Find something that interests you and study it. You'll be much more happy in college that way. And Thomas Handy is right, units are a great buy, especially right now.

Jeff Thompson · Answer

Brian Hoyt Interesting comment about Civil Engineering as that was the path I was previously pursuing, in fact I have an AA in Engineering (which is of course mostly GE and math). Thing is I have no desire anymore to be an engineer, I'd rather hire one. I debated going to business school when I'm attempting to learn business on my own right now, and will be running one before attending. I am very much the 'self taught' and "lifelong learning" type, but down the road when I become interested in bigger deals having credentials certainly won't hurt and school will fill in things I missed and give me an opportunity to improve the way I do things. Should I study something different just to diversify? Thanks guys, I'm solidifying my choice.

Account Closed · Answer

Go wherever you would like to live for awhile. Study whatever you're most interested in. I studied finance and accounting and found it extremely useful when I started my own business. However, I wish I would've taken more of an interest in real estate earlier on. But that hasn't stopped me from reading countless books and other learning materials on the topic. Just remember, the end of school is not the end of learning, it's actually just the beginning!

James H. · Answer

Civil engineering and then some experience working as a civil engineer doing land/site development is another path. A lot of the big developers have their roots in civil engineering. For a lot of real estate investors, a civil engineering background would be next to worthless. But for the things you are talking about, very relevant. City managers also often come from civil engineering consultancies. But you need to be business saavy too. You don't have to learn business saavy in school, but you do have to learn engineering in school (to work as an engineer).