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.
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.
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
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.
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.