college degree needed / useful for REI?

[NoMoneyDown]

It used to be you needed a degree to be an insurance agent, but not anymore, I guess.  A lot of jobs do require a degree as a minimum still, although, I can't recall any at the moment.  Heck, even some administrative assistant - (don't call 'em secretary) - jobs require a bachelors degree these days.  

[propertymanager]

I agree with the others.  To quit with only 2 terms left is very immature and shows a desire for short term gratification that will not serve you well in the future.  REI is a tough business with a LOT of frustration, problems, setbacks, etc.  If you can't stick out getting a degree, I can almost guarantee that you won't suceed in REI.  In addition, having a degree as a backup is a smart move and the degree will open many doors in the future.  People respect the fact that a person sticks with college long enough to get a degree.  Conversely, being a dropout has a very negative connotation.  There is absolutely no reason that you can't start your REI career while you are in school.  

Mike

[jdeity]

wow, a quitter, can't follow through, you guys are really really getting personal here.  i'm not saying i am going to stop.  i am going to stop *if* it won't serve me in REI, which i don't think it will.

i am not closing doors, i can always just go right back and get my degree if i want.  

seriously tho, just laugh at me and think i'll fail if you want to, but keep it to yourself.  if i do i do, end of story and you were right;  being negative and telling me i'm wrong or dumb isn't going to change my mind.  i'm not asking if you guys think it is a good idea (or looking for approval or support as somebody here claimed), most people think most of my ideas are dumb.  on the other hand, i am doing much better than most people i know, so i do things my way and it works for me.

the way i see it, my pros of taking leave from my school:

PRO: save 8K in tuition
PRO: make at least 4K working that i wouldn't have made if i took classes
PRO: keep my job, so i will have provable income of ~30K/year when i go looking for my first place in jan/feb '07

CON: no degree in hand to put on resumes
CON: negative connotations of being a dropout
CON: lost knowledge that otherwise would have been obtained by last two semesters

as far as those cons go, respectively: it doesn't appear i will need a resume to prove anything in REI, negative connotations don't bother me because i am criticized on many other things i do and other's opinions of who i am do not bother me, and the lost knowledge is very minimal in terms of significance to my goals in life (*and* i will use that time for REI studies, so that actually makes that one a con).

i am really open to objections based upon how it would negatively affect me in REI.  calling me a quitter without knowing who i am is pretty lame.  if i make a decision that i believe is a better strategy, i am doing it because i honestly belive that, not because i am afraid of doing two more semesters at my school.  so let's leave that stuff out, and also whoever mentioned that i would have wasted those years i already spent, that is irrelevant, they are now a 'sunken cost'.  if, as of today, pursuing the degree further would hurt my REI goals, then it is a dumb move for me to do, no matter how many years were already vested.  think of those as years vested in the wrong way, spending more years towards something i will not use is just wasting more too.



(if anyone really feels i'm making a horrible, horrible decision you can feel free to pm me, just post that you did in this thread, i dunno if it auto-alerts, and i will tell you a bit more about who i am and what i'm about.  but let's try to keep this STRICTLY in terms of how having the degree or not will affect me in REI, as REI is what i am pursuing, and i don't really have interest in putting my goals in life aside for something that at best will be a crutch if i fail.)

[JOHNNY Q]

Get your degree. It will open doors.If all else fails you have that degree to fall back on. It is worth it.

[jdeity]

Get your degree. It will open doors.If all else fails you have that degree to fall back on. It is worth it.

if i end up hating REI i can just go back and get my degree.  my degree opens doors that i have no desire to go through.  

it's fine if you're sure i'm making a mistake, and think that i will fail in REI and want to go get a 9-5 in some company.  i just disagree.  if i leave, i still have the ability to go back if i choose to.  i have zero desire to do a 9-5, i want to be in investing and real estate in general.  i am going to get my first property, and find a job working where i will learn about real estate, maybe working with a developer, helping construction, or as a realtor.  who knows.  but i'm not the least bit interested in the type of jobs that my degree will allow me to get.

that being said, again, any other objections, strictly in the REI paradigm, to not having a college degree?  please don't hold back telling me it won't effect me in REI because you think it will make me make a decision (or reinforce my decision) that you think is bad.  

i want to make a career out of REI.  if the only reason i should get a degree is to have somethign in case i fail in REI, then i would be hurting my start in REI by setting up protection in case i fail.  the thing is, even if i fail i will just work in REI-oriented jobs to learn and rebuild capital to start again.  but please don't tell me that a degree matters for REI if it doesn't and you just feel better thinking i will get my econ degree.

[JOHNNY Q]

I am in the mortgae industry. I went to college, but never finished. If I had to do it all over again I would finished it. If the real estate do not work out and you have to get a 9-5 job. Your degree will open door for based  salary at least 30,000 a year and room for advanced to management. I have been where you are but , most mortgage companies and banks admires you went all the way. All of the successful people I deal with  all have a degree. But what I have is a lot of experience dealing in all type of business phase. I know for example that David Thomas, The founder od Wendys did not finish school. Also Henry Ford. My point is that I use to think that education was over rated.Knowledge is power was the old saying. Applying that knowledge is power!  What I lack I can find a person to do it.That is being educated.. using the resources you  have and learn to delegate and control your result and destiny.I learn thru the school of hard knox. I am street smart and professional smart.  I went to seminars , networking with people , library, massive reresearch etc.. to obtain the knowledge and use it. But if I finish my college degree, I might have been where I am a lot sooner. It is harder to go back to collge.If you are single.. do it now, beacuse your college education  will be secondary to your wife or kids. If I was going to hire anyone, I would want to hire a college  graduate.I do not have the time to explain to some who does not have the mentality or capacity to comprehend. Most people are reading at a 8th grade level.I  hope this help.

[JOHNNY Q]

If you should  ever decide to do more in real estate as a professional.  I a degree will save you time  and money. In the long run that degree will pay for itself. In investment as a investor no license is needed. But as a professional, you will bypass most people due to your degree.  

[propertymanager]

A degree is NOT required for REI.  It is just that simple.  So, if you want to drop out, do it.

However, could a degree be extremely valuable for REI.  YES!  The value of the degree is intangible.  What you clearly don't yet understand about REI is that there is a BIG difference between doing a couple of deals as a newbie and being successful running a business.  To be successful, you will need to learn to run a business.  Someone who knows how to run a business can operate just about any type of business - the product or service offered is of little consequence.  

Will a degree make a difference in your success in running a business - I say YES!  Running a business is about building professional relationships.  When you are sitting down with a potential investor, or a bank president, or other professionals - they are all college graduates.  Inevitably the conversation will get around to your education.  They will tell you about their college and ask about yours.  I can't tell you how many times this has happened to me.  They're scoping you out.  When they find out that you're a dropout, what do you think will happen?  They won't say, I'm not going to invest with you - they just won't do it.  I know I wouldn't invest in a dropout!

Another thing that you don't realize is that most successful people don't just have one business.  Most successful people are involved in multiple enterprises.  Personally, I operate 3 businesses and my wife runs another one.  Has my engineering degree helped in my REI business and the other businesses - ABSOLTUELY!  Would I be less successful without that degree - ABSOLUTELY!

Some people learn from others and some people have to reinvent the wheel.  Which one are you?

Mike


 

[Steve Smith]

Your degree will be of little or no use in your REI career.  

However, it will be of tremendous importance in your other careers.  And you will have others.  Get it now while you have momentum in that direction.

[JOHNNY Q]

My Dad ask me what is the difference between  a smart man and a wise man. Answer: A wise man learns from a smart mans mistakes.