Online Master of Real Estate Development
Hello,
I am considering Georgetown's MSRE online program to further my understanding of construction lending (without working for a developer). My background was most recently in Balance Sheet Underwriting for a lifeco, CMBS originations, and Brokerage. I am motivated to pursue higher education to i). add some branding to the resume ii). enhance network in Los Angeles (and the West Coast); iii). built knowhow around construction/development. A $50K tuition spread across 2 years with a 10-hour workload per week does not seem too overbearing.
1. Any thoughts/input on the program/experience in the online format vs. in-person?
2. Has anyone explored a more construction-driven online master program (master of construction) for real estate finance/development?
3. Does anyone know of any other schools of equal or better prestige offering online real estate master's programs?
Any input is appreciated.
Lots of past threads on this. Most come to the conclusion that real estate is extremely local and much of the value of these programs is the opportunity to network in a specific market. This is obviously harder and less efficient online. For networking the best option is almost always the best possible traditional program you can get into within the region you want to live in long term…I would argue this largely also holds true for online/hybrid programs. There are programs that will carry more weight and contacts specific to the west coast. If you are only looking to gain skills it is often discussed that this can be done on the job, or perhaps via less expensive forms of online education. The exception is if you are not at all concerned with cost and simply want to check the box of having a master’s degree. My classmates that got the most out of the Georgetown program took it in person, were a few years into their careers (not switchers) and often received significant tuition reimbursement from their employers. I’m sure there are more but I can only think of 2 alumni I know on the west coast and both are working for themselves.
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According to the National Association of Home Builders (NAHB), developers average about $3 million in gross profit on $16.23 million in revenue. That's an 18.9% percent profit.
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