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All Forum Posts by: Justin Crysler

Justin Crysler has started 1 posts and replied 8 times.

Post: Masters Degree - Best for Investing?

Justin CryslerPosted
  • Leesville, LA
  • Posts 9
  • Votes 1

Thank you all for you comments and feedback.  In speaking with some mentors outside of BP, as well as taking these comments into account, I have decided to pursue a masters in "Management and Leadership" with a certificate in "Project Management" and since I need 4 electives for the degree I chose to take those classes on 1) Ethics and Law 2) Basic Business Management 3) Basic Accounting and Buisiness Finance 4) Marketing and Development.  Many have stated that they are proud of being successful without formal teachings and ultimately these courses are unnecessary, however I feel this is an opportunity that I should not pass up and can only make me better no matter the direction I go.  If anyone is curious how I specifically decided on these courses or half way through the degree you'd like to know if still feel it is worth it then feel free to send me a message!  I'm always happy to discuss, well, anything  with anyone.  Its the best way to learn in my opinion.  Thanks again!

Post: Masters Degree - Best for Investing?

Justin CryslerPosted
  • Leesville, LA
  • Posts 9
  • Votes 1
Originally posted by @Elizabeth Wilson:

@Justin Crysler - what options are you thinking?  Personally I have an MBA and it is not helpful at all (real estate or otherwise). I could not recommend ever getting one unless your job specifically requires it (though it is easy if you are looking for a quick on-line route!

  Is there a degree that focuses on the more on the finance or law side of real estate?  Or what about getting a degree in Spanish or something you enjoy?

Spanish would probably be very helpful, unfortunately I didn't do well in the couple of classes I took in my undergrad so I'll probably steer clear. I'm surprised you say your MBA hasn't helped at all though. Did you have business experience before so it was redundant? I have zero business experience aside form selling a car and sofa on craigslist... would you be so kind to elaborate? Its possible that I don't have a clear picture of what an MBA actually is. Thank you!

Post: Masters Degree - Best for Investing?

Justin CryslerPosted
  • Leesville, LA
  • Posts 9
  • Votes 1
Originally posted by @Ritch Bonisa:

These are interesting questions. I'm a former teacher and coach, so I value education. I do agree that education is most often beneficial. Let's look at it as a business investment. If you want to be a doctor, a medical degree tends to be a good investment. However, I have doctors in the family and they will tell you it's not as profitable as it was for generations before them. Teachers pay a lot for a bachelor's degree - profitability is tougher. Teachers in many parts of the country are just not well paid. Hence, the reason I don't teach anymore. Most teachers are required to obtain a Master's degree, the bump in pay does not represent warm & fuzzy profitability. My wife wanted to leave teaching and open her own business, so she obtained an MBA. You really don't need tens of thousands of dollars in additional education to open your own business unless a degree or specific expertise is required, or licensing is somehow required. In my wife's case it was a totally unnecessary expense - a loss. Education is great, but it can also come down to ROI. Education dollars are investment dollars. If one's thought process is more about making certain amounts of money or living a certain lifestyle, then the upfront choices on career and education should reflect that.

 Your very right and I appreciate you sharing your experience! Fortunately my organization is paying for the degree if I choose to do it, adding only two years to my current contract. If that weren't the case I would most likely only self educate. This, however is an opportunity I want to take advantage of and get the most benefit from long term.

Post: Masters Degree - Best for Investing?

Justin CryslerPosted
  • Leesville, LA
  • Posts 9
  • Votes 1
Originally posted by @Account Closed:

An MBA would be perfect for real estate investing and the business side of things, you could always focus on accounting if you wanted to keep all the numbers in-house. Would a law degree (JD) be an option? That would relate to your current profession and might help you steer clear of any real estate / fair housing legal issues in the future.

Real estate law didn’t even cross my mind to be honest. Unfortunately that degree is much more labor intensive and it’s tough to do that alongside an already full time career. I’m sure it can be done with enough motivation and discipline, but the lawyer side of things simply doesn’t provide that enthusiasm for me. Great idea though! Thanks!

Post: Masters Degree - Best for Investing?

Justin CryslerPosted
  • Leesville, LA
  • Posts 9
  • Votes 1
Originally posted by @Account Closed:

It really all depends if you want your current career to stay your career or if you want to go full time real estate investment. I have been taught that real estate investment is a business or entrepreneurial endeavor, so I believe an MBA would be good as it would teach business and business relationships. I am getting my masters currently in entrepreneurship to understand the intricacies of starting a business which develops business skills and operations, to include working with and developing relationships with colleagues. Of course, I am looking to go full time real estate investing at some point. Not sure if this helps.

I too plan to make this a full time career and am treating it as a business venture rather than a hobby. The MBA is currently top of the list, however I have been told by several professionals that MBAs are flooding the workforce and are not as marketable as other degrees. This is important to me as I need a backup plan if this business fails. With a family take care of I have to keep my options open and available. Although my management experience and leadership skills are marketable, the law enforcement skills are industry specific and my age is an immediate deterrent for many companies. I’d like to stay in this current career only long enough to be full time in real estate.

Post: Masters Degree - Best for Investing?

Justin CryslerPosted
  • Leesville, LA
  • Posts 9
  • Votes 1
Originally posted by @Jana Cain:

You might want to look into a degree focused on "soft" skills like organizational behavior/management. My day job is in MBA career services, and when I meet with our alumni, they commonly say that their soft skills classes (OB, Interpersonal Dynamics, etc) have been most helpful for them as growing leaders in their organizations. Real estate investing is so heavily relationship based - doing a deep dive on the nuances of groups and teams certainly couldn't hurt.

You’re absolutely right! Networking and interpersonal tact are both fundamentals that seem to allow most to sink or swim in this business. Currently I am in a company sponsored 3 month, full time, course to refresh these very attributes. When you get to higher echelons of management those skill often atrophy. I am fairly confident here but acknowledge I can always be better. No matter the degree I choose I will most likely pursue a certificate program in this area too but given that my experience is based heavily on leadership skills already I’d feel like a masters in this area would be slightly redundant (not to down play its importance at all though).

Post: Masters Degree - Best for Investing?

Justin CryslerPosted
  • Leesville, LA
  • Posts 9
  • Votes 1

Mr. Benster, I appreciate the reply! Currently I am middle management within a law enforcement organization. My job essentially translates into project management and general oversight with about 100 folks working for me inside an organization of about 800. I have a bachelors in history, which doesn’t do much in business or real estate, but I have had extensive training in “moral and ethical leadership” which I can apply anywhere. My experiential learning in real estate is limited though. I have done one flip and am currently working on buying my first single family rental property to get my feet wet. My current goal is to begin obtaining small multifamily homes, du-quadplexes, aspiring to own a 30-50 unit apartment complex within 10 years.

Post: Masters Degree - Best for Investing?

Justin CryslerPosted
  • Leesville, LA
  • Posts 9
  • Votes 1

Hello everyone, brand new to Biggerpockets and very excited to learn everything I can. I have a question for those of you deep in the weeds on this. I am working a full time job while beginning my investing career and I have to get a masters degree to progress in my current job. The degree doesn't matter, I simply have to have one. My question is this... which one? My options range from leadership degrees to a traditional MBA, project management and so on. From what I have read here most of us are proud of what has been accomplished without a formal education, and you should be! But, looking back is there an area you wish you had been formally trained on before starting this career? Taxes, buisiness management, personnel, etc? I'm very excited to hear your feedback and am grateful for it! I'm still working on my profile so my apologies for not having much background on there yet. Thanks!