Is college necessary?

[Mack Braun]

Hello all! I am currently taking a year away from school to explore my options in real estate and whether or not those options would require a college degree. I do enjoy school, but after two years of accumulating debt, I am struggling to see how it will help me with a career in real estate investing. I am not opposed to taking a different route then my peers are, but I can't get over the idea that college is a must for success. Over the past 6 months, I have been listening to podcasts, reading, and spending time on the BP website, and I can truly say I feel like I have learned more useful information than I have in my previous two years of school. I am starting to believe that the time money and time spent earning a degree might be better spent learning through doing. I am looking forward to hearing some opinions. Thanks!

[David Lee Hall, III]

As someone who spent six-figures (of debt) on a college degree, I can say little of my degree has translated to real estate. My $0.02 is that the most important things are networking (which I am horrible at), and education (which is not required from college). No one has asked to see my transcript or degree when buying real estate. If you could replace that loan for school with one for a duplex, then you could learn RE first hand while providing yourself a place to live. 

Flip argument: Are you studying for a 6-figure salary. A degree that makes you a high-income earner makes traditional financing easier. You may be making barely enough to eat as an entry level handyman or property manager if you "just leave school" and try to get into the field without connections or experience. That degree could allow you to spend 40-hours a week getting paid well and another 10-20 hours a week on RE until the RE is self-sufficient. However, if you are studying American History or French Literature, your degree may not pay off with the same benefits. :-)