Real Estate Investor · Boston, MA · Member since 2016 · 1 post · 0 votes
Greetings,
I have been an avid reader of the forums and decided it was time to contribute.
I have some experience in investing, I have bought a duplex, managed tenants and since sold this property to a good profit (200k). I have reinvested the money into a multi family investment property that will cashflow as well as bought a condo for myself.
I was wondering your thoughts on this- I currently have an associates degree from a community college, and was considering going back to school for my bachelors degree at a pretty well known school in Boston. It will cost me around 30k. My goal is to continue investing and to not have a day job. My degree is finance and account management. Am i out of my mind or is this a neccessary degree? Part of me feels like this will be my only chance (I just turned 30, single, no kids) and part of me says I will only put myself in the hole 30k when I could instead reinvest this money.
Thoughts on higher education please? Thank you so much for your time!
Investor · Madison, CT · Member since 2014 · 710 posts · 458 votes
9y
@Frank Vent - I am generally pro-higher-ed, but in your particular case, I don't know how necessary it is. You've got some real estate experience, you know you can succeed with it. What are you hoping to get out of the degree? If you wanted or needed a higher-paying W2 job in order to invest, then it might be a good investment, but you don't seem to want that. You can learn a lot about finance and account management by investing that $30,000.
Atlanta, GA · Member since 2016 · 22 posts · 8 votes
9y
What kind of "ROI" will you get from that degree? Will you make enough to offset the time and money spent acquiring that degree?
I work in IT. I got my degree many years ago for a total of $25K - $27K for a Bachelor's, and the ROI is many many times of what I invested. So in my specific case, it's the best money I could have ever spent. It has allowed me to acquire assets: investing in family business and buying rental properties.
With the 30K, you may be able to get a rental property (I'm a new investor, not knowledgeable in other areas of REI) that can generate much more than the new degree will. And if done right, this initial 30K investment will compound into many others in the future.