hey monkeys,
I am in process of moving my family is moving back from Asia to the US.
My wife does not have a profession.
Sadly she dropped out of a top 3 MBA program, and decided she wasn't a fit for b-school.
But she does have a great interest in real estate.
In China, she helped contribute to our family by finding some really good off-market deals, and it's created a lot of balance sheet wealth (unrealized) for us.
I can't practice my profession in Asia, so I'm going to go back to the USA.
I would like to have her involved in real estate in the US, but she'll need a way to acclimate and learn how real estate is done in the US.
Previously she had been admitted to the MRED programs at MIT, Columbia and Cornell.
But we're not sure if these are a good idea for her - she's really not an academic, she's more street smarts (hence she dropped out of the MBA).
Is there some way she can learn the street-level off-market kind of real estate and house flipping that may be of greater interest to her?
She's mainland Chinese, so maybe there's some edge to be found there?
Should she work at a brokerage to learn the lay of the land in USA?
Is an MRED worth it, if she gets a scholarship (2 of the above schools offered her a partial ride)?
she should start in retail brokerage...try to make some commish selling and renting...will help her learn the lay of the land while earning some $$...also helps with people skills based on locale. she can always try to get into commercial RE in the future...but who knows how long that will take.
+1 SB
This - Seems like every retail/mixed use deal we see has 1 of 4/5 brokers on it. They have some sticky networks within their communities. Brokerage has low barrier to entry and within a few years she could definitely be running her own deals.
Depends on where you're going to move but NYC/LA/SF this is definitely possible
DM me. I can provide some guidance and possibly references.
Ooof. My fiance "wanted to learn real estate" and now we're broke and all I have to show for it are afghan rugs that match the blinds.
Kidding, but if she's the MIT/Columbia/Cornell type something tells me she'd be a good fit a Hopkins' Masters Real Estate program.
Well, she declined to go.
English is not her native language, and that's why she dropped out of the MBA program.
She was struggling.
She has insufficient confidence to pony-up to a US grad degree.
Hence I wrote the post, trying to figure out what else she can do to learn the trade without going to school.
My sense is that she'd be better off at a brokerage - maybe a commercial broker trying to sell big projects to Chinese corporate real estate buyers.
She has resisted.
That said, she gravitated most towards the Columbia program.
MIT is supposed to be pretty quantitatively taxing, and has a smaller alumni base.
And my wife, being Chinese, liked the idea of living in a Chinese-part of NYC over Boston.
Not really aware of Hopkins. Why would you recommend it?
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