Worth it to get an MRED (Masters in Real Estate Development)?
Wondering if anyone here has a Masters in Real Estate Development or knows what kind of career path you can follow with it?

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From NYC and I'm self employed in the photography/video business and have been lucky enough to obtain around 15 rental properties, but someone has offered to buy my business and instead of sitting at home all day and watch Judge Judy, I thought I would lean into real estate since I've already learned a lot as landlord and have enjoyed the experience. An old buddy turned me on to the idea; he has an MBA and MRED and has a cushy job at JP Morgan.

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The idea of going back to University at 40 feels oddly uncomfortable though.
[{"id": "ihujr4a", "text": "Well...sounds like you're successful already. Do you have the cash to spend on a degree? You have rentals and experience as a landlord, an MRED (depending on the school) is simply gonna hone your modeling skills. You may touch on some legal topics. \n\nAre you looking to go from self employed to a 9-5? (Personally....yuck). If you go back to school and then want a corporate job, you're gonna be most likely coming in as an analyst type role, project manager, etc. I have an MRED and am a PM. There's a lot of paths you can pursue. It would probably be useful to Google forms in your area that are interesting, see what they're working on, try to talk to some folks, and then look around for a program that meets your desired path. My program was in an architecture school so there was a focus on design and the faculty worked in housing mostly. Other schools are way more finance focused.", "replies": [], "depth": 1}, {"id": "ihus49x", "text": "If you want to work for a developer, I would apply to work for a developer. Going back to school is fine, it may give you networking opportunities and will probably learn some things, I just wouldn\u2019t pay for it. \n\nRead the real estate game by poorvu and see if that changes your mind. It is a bit old, but so are all the old rich people that run everything. \n\nIt may just save you thousands of dollars and years of your life.", "replies": [], "depth": 1}, {"id": "ihuvkhs", "text": "Are you looking at the NYU program?", "replies": [{"id": "ihwgchx", "text": "Seems very pricey. I went to NYU for undergrad but might opt for Baruch for grad", "replies": [{"id": "ihwhc0r", "text": "Yes it is extremely pricy. Just for the record I did about half of a similar degree before I started my current job in the same field as my program. I have learned more in 3 months at this job than I did in an entire year of school. School helped me get my foot in the door definitely though, which might not be an issue for you due to your experience.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ihv0brv", "text": "Read Real Estate Development Matrix by Kohlhepp. \n\nThat book is the basis of the CCIM development track, which is more of a practitioner's certificate than an academic master's-level degree. It will give you a functional overview of the information you'd be covering though, so if you find it engaging then consider pursuing the MRED.", "replies": [], "depth": 1}, {"id": "ihvccq0", "text": "I was actually accepted into a MRED program last month. I decided to defer enrollment to Fall 2023 instead of this fall. The tuition is around 60k. \n\nWhat I\u2019ve found is that most the people in the program have their companies pay for most of it or they simply have the money to spend on the degree. I certainly do not have 60k to drop right now and am not thrilled about the idea of a student loan. \n\nMy game plan is to find a new job with a developer over the next 12-13 months and see if they will pay for a portion of it.", "replies": [{"id": "ihvtuvd", "text": "I think you made the right decision.  The only argument for taking the course would be to create relationships now that will help you find a job. I know people who were able to find their job because of the program.  But if I was you, I would hold off.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ihvuapg", "text": "As someone who went back later, you won't be out of the ordinary at being 40.  It's a Master's program, so by default there will be people who are more advanced in their career.  \n\nBut to echo other people's response, sounds like you've done well, especially if you sold 15 properties in this market.  If you've got the extra cash, doing an MRED isn't a bad idea to develop relationships and get more advanced concepts on real estate.  Real estate is all about relationships, and in any masters program you will do so.", "replies": [], "depth": 1}, {"id": "ihw2hiq", "text": "As a female who has spent 13 years being the best in my area\u2026 and knowing I still made 30% less the men on average \n\nMy advice , is it\u2019s only worth it your male and white. Every firm near me to owned by white guys in thier 40\u2019s-60\u2019s and most managers fit that bill too.\n\nI", "replies": [{"id": "ihwzj6x", "text": "Lol can you guess who is down voting your comment?", "replies": [{"id": "ihxvjq3", "text": "I know some guys hiring for me role, they wouldn\u2019t interview because I \u201ccost too much\u201d. I\u2019m like, bro\u2026. I know what you all make. Lol. Whatever, I\u2019m moving into commercial real estate appraisal and I\u2019m just gonna work for myself. Marginalizing me and my work ( I can\u2019t tell you how many times I\u2019ve structured deals been shot down and then one of the bro\u2019s I pitched to, had another meeting without me and they decided on his new structure which was what I just emailed everyone! Sometimes, they are bonused in my work) because of my gender \u2026 I let it really fuck with my head \u2026 but I\u2019m feeling better now and I don\u2019t need any of \u2018em. And when I left , I left a 3 month consulting contract at 10% more then their average hourly rate min 2 hours for any questions they wanted to run by me. \n\nThey didn\u2019t sign. To this day, I\u2019ve gotten 5 requests from them. 3 In The first 3 months that I would reply to with the contract and rates and the words PAY ME (contract has deposits/upfronts) they didn\u2019t respond.\n\nThe last two came after 3 months, I said \u201cNo, now I don\u2019t even want you to pay me; I want you to leave me alone. \u201c\n\nIf they reach out again I can put an order of no harassment. Lol\u2026 yea because THiS is the harassment . \n\nI would never advocate for a minority to willfully give their professional hours to toxic environments. Their well being is more important. Now, if they want to work for themselves, then go for it and build a better system.", "replies": [], "depth": 3}], "depth": 2}, {"id": "ii2rvk0", "text": "If your a developer and your best in the business, then it is up to you what you charge your clients. Of they negotiate a lower price then you need to get better at negotiating.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ihwexxg", "text": "I'm in the program right now at Portland State. It's great. I want to go into acquisitions(REPE) or join a development team. It's a great program and you will leave it knowing how to invest your own money, do valuations, pitch to investors, etc. The biggest thing you'll learn is financial modeling.", "replies": [], "depth": 1}, {"id": "ihy9y3i", "text": "Why? I am not seeing a purpose as to why you want it other than a bro has a cush job at JPM. Sounds like you have a cush situation right now with no boss. \n\nCan an MRED be beneficial? A MRED from a place like USC is powerful because of the network, but what would you do with it? The knowledge basis from my friends that have one can be somewhat helpful, but it is largely basic finance with a range of legal, construction, architectural and case study classes. The actual stuff you learned on building your business will make it seem alimentary for the most part.  \n\nMaybe check out some udemy or CCIM classes or go to a few ULI or NAIOP events to see what is going on before dropping some significant coin on a degree you may or may not use. It may be that you want to know more about syndication or distressed assets or a specific asset class.", "replies": [], "depth": 1}, {"id": "ii7sgc0", "text": "Look at MIT, USC - I believe their cohorts are a bit older. You can do anything real estate related after. Acquisitions, securities, lending, etc. there\u2019s a couple juniors at the fund I work for that have MRED\u2019s, they all came in as analysts without prior experience, so you\u2019re starting from square one", "replies": [], "depth": 1}]