Is college worth it for an aspiring RE developer/investor?

Question

Hello all,

I’m currently in High School. I already know that I’m an entrepreneur, and I love real estate, so I’m almost positive I’ll be a developer and investor(but not closing myself off to other possibilities). School bores me most of the time, of course I will graduate HS, but the idea of four years at college, for a degree in something that may be pointless and may waste my time and money, I just can’t wrap my head around. Many people go to college to be better suited for a job, but that’s no what I want, I want(and know I will be) a boss! I’m sorry if this is coming across as arrogant, it isn’t my intention, I’m just trying to say that instead of wasting my 529, I could invest it and get real working experience. What do you think?

Thank you!!

Michael Jones · Answer

Alex, I understand your dilemma. In high school, I started a computer networking and repair company and was making $60 an hour making my own schedule and being the boss (of me). For a time, I considered not going to college because I too thought I didn't need it. Ultimately, I felt I needed to go to conform to what was then, 2006, a clear cut path in life that I must graduate high school, to go to college, to be successful in life. The world was a slightly different place back then. Facebook was barely started, there was no Uber, there was no AirBnB, etc. When the '08 crises hit, and banks stopped lending money, and the economy completely shut down, I felt fairly grateful to be in school and switching my major to accounting which guaranteed me, literally, a job out of college. I've since moved on from that, but I still have my CPA license which serves me well in many capacities.The point of sharing all that is that we never know what is ahead in life. We don't know what the economy will be like, or what jobs will be available, or what industries will be revolutionized through technology. There are very few people I talk to who say they regret their time in college. College is a maturing process and you can make some truly wonderful relationships. You can also waste 4 years of your life and a lot of money if you don't take the opportunity seriously. Another thing to consider, it will never be easier to attend college than it is when you're younger. You tend not to have family responsibilities and as you get older, your desire to sit still and learn diminishes even further - particularly in a heavily structured setting like college.

All that being said, it sounds like you have a definite vision for your life. There are MANY successful people who didn't attend college or who dropped out. Typically because an amazing opportunity came their way. If you're seriously considering not going to college, you need to obtain an education in what you are interested in by finding a mentor and busting your butt. There are plenty of people out there who are looking for someone to hustle. I literally heard someone ask to find help finding a mentee yesterday in Austin for real estate purposes. You won't need to go to college to be a successful real estate developer or investor. However, you may find that you need the job that college can offer in order to obtain the capital needed (not necessary if you're a good salesman and can put other people's money to work).

I've never had someone ask me whether or not my college degree justified or allowed me to do business with them on the real estate side of things.

Greg Dickerson · Answer

Yes you should definitely go to college and graduate school as well especially if you want a successful career as a real estate developer. A lot of developers have degrees in civil engineering, construction management, architecture etc but several universites now offer programs for real estate and real estate development. You should pursue a degree in one of those programs as well as a minor/emphasis in finance. Then get your MBA form the best school you can get into if you have the resources and mental aptitude. The network alone will be worth many times the investment and it goes by very fast and you can intern with a development company while you are working on your degrees. If I could go back and start over this is what I would do as I did not go to college and learned it all the hard way which took me a lot longer and cost 10 times what a formal education would have cost.

Marlen Weber · Answer

@Alex Greenberg I admire your enthusiasm and entrepreneurial spirit. While most people attend a university to become better suited for a job, these days most jobs require a 4 year degree to prove that someone was able to start and finish something successfully. The actual skills needed to perform a job come from doing said job day after day, therefore a college degree proves more than skills to a potential employer. It shows commitment, time management, and lots of other experiences. Not to say that these skills may only be proven by attaining a college degree, but this is often what a degree will represent beside a field of study.

Alex Greenberg · Answer

@Marlen Weber I’m not sure I understand entirely. Of course I will need a job for some time, but I look to be my own boss, and I’m not looking to be an employee(for very long), I’m asking if college is worth it for someone like me who will take more of an approach to become an owner as opposed to being a long term employee.

Is college worth it for an aspiring RE developer/investor?

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