Real Estate on the side as a DCM guy?
Folks, I'm working a good old boring DCM gig (working both corporate and CRE debt deals) at a no name middle market bank. Pay is ok (in line with lower middle market bank pay). Hours aren't bad ~50 hrs per week. Work is boring and there are limited exits. I'm not being mentally challenged at work at all, so I've had a lot of time to think and reflect. Recently, I've been thinking about investing in RE part-time. I think it's a great opportunity and a great way for me to use my brainpower to better myself & improve my knowledge. I live in a ok cost of living area and the money I make goes a long way where I live. I'm currently a senior associate on the way to VP. I think at the VP level, I will have a lot of discretionary income since I'm single and don't have a GF. With that being said, here are my thoughts:
(1)My bank offers tuition reimbursement for graduate programs. I'm thinking about getting a MSRE degree and having my bank pay for ~50% of it. It'll cost about $25-30K out of pocket for me over two years (part-time), but I'll end up with a masters degree from a good school (Think: NYU Shack, Georgetown, etc...), education on CRE and a good network. I'm thinking I can build connections in the program (partner with them) and perhaps do some development work on the side (buy/build/renovate & hold) after graduation (thinking residential apartments, large duplexes). I think this plays well with the CRE experience that I have now, but is most costly. On a side note, I'll probably be ~30 by the time I exit the program, so I'll actually be taken seriously.
(2)Work on buying properties in my area and try to build a network online. This is the less costly and easier/faster option, but I won't have a good network or a lot of knowledge on RE.
I'm leaning towards #1, but I wanted to get a sanity check on this forum. Does this make sense to you guys? Is this doable? I think this would be an endeavor worth pursuing since I think it would be mentally challenging and put me on my path to passive income.
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