Masters in Real Estate Programs -- The First Step
I'm currently working as an Industrial Engineer, but I am more than eager to transition into the commercial real estate development domain. I'm 25 years old and I'm searching for the best online MSRE/MRED as I'm unwilling to move. This is because I live near my father--who has recently shifted from small business ownership to commercial real estate investment & development--and the goal will be to continue the family business once I have a decent foundation of knowledge and skills. I'm looking for a program that can provide me with the basic tools required to navigate the commercial real estate industry while working part-time for him. My ideal school will provide me with a basis of knowledge that I can build on once I start working with my father. Unfortunately, he is still somewhat new to the game and operates pretty much solo. He also has a portfolio of several impressive commercial buildings, so he is fairly content right now and isn't active in many other projects. But, I'm stuck trying to figure out where I will have the most opportunity to learn.
I've been accepted into the Georgetown online MSRE and the University of Arizona online MRED programs. I live in Portland so I will probably apply to Portland State's MRED program as well.
Does anyone have any insight on if the GT program would provide this for me? Or if you have any other ideas. I've just never felt so motivated to learn about an industry, so I plan to get as much out of the program as possible.
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Hey have to be honest, if you really want to get the benefit of the program you have to do in person. Online will do very little for you in terms of meeting your classmates, professors, industry professionals is frankly boring for 1-2 years of classes.
You will not get much out of it, you will learn more working for your dad now day to day and doing whatever he needs. You can get into better programs such as NYU's maybe Columbia. I would candidly only do this if you go in person regardless of where you apply. Look you want to stay in Portland long term but you need relationships - other developers, capital, brokers. I am currently at NYU MSRE, if you enroll and say move to the city you meet capital providers that everyone across the country wants to meet, you talk to brokers everyone is trying to get in touch with and who are doing the biggest deals in the country and are some of the most active, and in terms of marketability a disagree from a well known firm (MIT, Cornell, but especially NYU/Columbia) will look a lot better for a new firm having the NYC prestige when trying to bring on investors outside of New York who are say unsophisticated HNI who are new to real estate and looking for reasons to trust you through your credentials. Candidly if you went to University of Arizona I would think this kid just parties, is not very intellgient, why am I choosing this guy over the MIT MSRE grad that just sent me a deck and who's dad I know as well.
But again cannot stress it enough I candidly think it's a waste of money if you do 100% online when we are no longer in covid and there's really no reason to. We have technology you can help your dad daily outside of Portland with anything he needs and do an internship/take classes in say NYC. It really makes no sense unless you don't care about where you get a degree and if it's online, but then why are you doing it - you can just learn on the job and make mistakes like everyone else has.
The GT program is well-regarded, I know a ton of people who've done it and they all generally have good things to say about it. That being said, they were all in person.
I did the GT online. Happy with the experience and it has done its job as a "checks the box" resume item. I will say though, when I did mine it was around ~$32k total and with the tuition reimbursement I had access to it was essentially free. Today the program is about ~60% more expensive, so cost/benefit analysis I'd probably lean more towards an MBA.
Complete waste of time unless you do it in person. Might as well take some online excel courses and a masterclass.
if you want to stay west coast USC has a great program.
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