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Anyone here have experience with any real estate graduate programs? I think these are generally not worth the exorbitant financial and time commitments, but for me it is not strictly a financial ROI equation so I am considering a few select degree programs*
My main purpose is to learn more about larger scale development projects, particularly urban infill and sustainability-focused developments. I would find such info/courses to be fun and gratifying. I would also expect to learn enough to feel more confident in structuring my own development projects (I have no experience with this right now, just basically learning on the job owning an REI business that has grown from doing SFH rehabs to multifamily, to commercial and now building new SFH) We've considered several deals to develop small 20-40 home communities and although we passed because the numbers didnt quite add up, part of my hesitation was my lack of experience/understanding. And I am hoping that having this degree would give me the option to find a good corporate job should I stop running my own business for whatever reason.
Anyway, would love to hear your thoughts, particularly if you have experience in development or graduate programs.
*If you're curious, the four programs I'm considering are Masters of Science in Real Estate Development at Columbia and MIT, Masters of Real Estate Development + Urbanity at University of Miami, and the Graduate Certificate for Walkable Real Estate Development at George Washington.
I completed the MSRE program at Hopkins a few years ago and it opened up a ton of doors for me. I was in the exact same situation you're currently in buying up small homes and selling them. I now put together large land deals for a national home builder using what I learned at school. I did find that it was mainly geared to commercial real estate not residential but your results may vary. We had a phenomenal residential development course that set me on that path to where i'm at today.
MIT has an open source classroom if you search for it that has pieces of their MSRE program online for free.
Do you think the degree helped you greatly in getting the job you have now? Was it worth the cost? (The masters programs I've looked at are 70-80k for tuition)
Why have you decided no to continue doing what you were doing before the degree?
Interesting...part time comes out to be much cheaper, ~47k.
Anyway did you have any thoughts about my questions:
Do you think the degree helped you greatly in getting the job you have now? Was it worth the cost?
Why have you decided no to continue doing what you were doing before the degree?
Sure, it definitely helped. I was only half way through the program with no prior institutional experience and it helped me beat out 30 other people for the position.
I have a wife and a kid and a couple mortgages so knowing where my paycheck is coming from every other week makes my life a lot easier.
Oh good to know. I have been investigating job postings that often "prefer" MRED degrees but it's nice to hear about an actual instance where it made the difference. Thanks for your reply!
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