MS in Real Estate vs. MBA in Real Estate

If I read your post correctly, your GPA is pretty old so you could probably point to successes in your career, the GMAT, and other coursework to mitigate the low GPA.

I think a good avenue to pursue is an MBA program that is associated with a strong MS program in real estate. For instance, Florida's MBA/RE looks worth considering in that you can specialize in real estate at the same time has you retain the flexibility of an MBA.

In what region do you plan to work?

Yes, I've been out of school for 8 years now. To be frank, I'll work in any region of the country if there is "opportunity" but I prefer to be on either coast. Ultimately, I'm just trying to play with the cards I'm holding.

Why do you think an MBA is the better option? My opinion today, and it may change tomorrow, is that the MS may be better for me for a number of reasons.

1) I've been studying for the GMAT for a few months now and I'm improving but I don't necessarily think I will score in the mid 600's. Maybe if I get a tutor from Veritas or Manhattan I can get there. I have already taken the PR regular course and found it helpful to a degree in outlying my exact strategy for each questions type. This matters because if I do not do exceptionally well on the GMAT I can enroll in NYU's School of Continuing and Professionsl Studies for a Graduate Certificate in Real Estate (4 classes). If I get a 3.0 average or above I can automatically matriculate into the NYU MS Real Estate program. (This is one of the best real estate programs out there). I have much more confidence in my ability to get at least a 3.0 than approx a 650 on the GMAT.

2) I am set on Real Estate. One of my goals in life is to eventually own enough investment properties to be able to live off the income and develop some properties as well. Real Estate is something I understand (I'm the son of a contractor, etc. ) and it seems to be the only game where I can see the whole chessboard. Working for others is not my goal but I will certainly work in Real Esatate (for the right reasons such as money, contacts, knowledge, resources) for many more years to be able to get to where I want to be. So, the more knowledge I have on financing options, development, R.E. law, etc. the better I'll be. I don't neccesarily want to be a manager of direct employees and run some large division of a company. I think I can make significantly more money, be master of my own time, and enjoy my life better if I seperate myself from the hierarchy of corporate culture, which I can't stand. So I don't think I should take mgt, HR, Info Sys Mgt and other classes that MBA students have to take.

You make a number of good points. If you are firmly committed to real estate then the flexibiliy of the MBA is of little use to you (unless, of course, you change your mind). Nonetheless, note that for many of the business schools you have mentioned a 650+ score is not necessary.

True, a 650 score is not a certain necessity for many of the schools I have mentioned. But I would personally think hard about getting an MBA from a second tier school vs. an MS in real estate from NYU (which is an internationally acclaimed program). Although the courses taught in an MBA would certainly be useful to me if I were to start my own business I think an MS plus some supplemental MBA type courses along the way from NYU's School of Continuing and Professional Studies would give me the perfect education to run my own development/property management/private equity firm.

Hi,

I'd strongly recommend shooting for the stars. You NEVER know where you can get into.

When I did my application process, I opted for the "elites" that you mentioned and somehow got into my top choice, despite less than stellar grades. I did, however, do really well on the GMAT. You've been out of school long enough that GMAT would be weighted much heavier anyways.

Good luck!

Hello,

Does anyone know of the added value of doing both an MBA and a Masters in Real Estate concurrently? I'm considering a dual program but I'm not sure if the benefits exceed the time and cost of doing both.

Thanks.

My scenario is similar to that of the author of this topic. My Bachelors degree is in Real Estate (Fresno State) and I've been out of school for 14 years. I started my own real estate appraisal firm as a junior in college and the business has been very successful. I've been encouraged by others to teach at the local university. I really don't need an MBA for my career. It is more for professional development and for eligibility for potential teaching opportunities if they arise. I'm also the father of 3 small kids and the sole provider for the family. I've focused in on the real estate concentration MBA from Florida State because it is the only online MBA program I've found with a concentration in real estate. If there are others I'd like to know about them. Now for the bad. While my upper division GPA was OK (3.1), my lower division (GE) was well less than stellar. My cumulative GPA is 2.7. I just finished my first practice GMAT test from Princeton Reviews website and scored about 500. Does anyone know if the low GPA would automatically preclude me from admission? Do I need a stellar GMAT score to offset the GPA or does my work experience outweigh my academic performance?

I'm no expert, but I always got the feeling that the longer you've been working, the less undergraduate matters (i.e. GPA) matter. Given that you have your own successful real estate appraisal business, I think they would focus on that a lot more than GPA.

I've known people with lower GPAs who have gotten into decent business schools, so I don't think you would be automatically precluded. I think if you just picked up a GMAT book and studied it for a few weeks, you could probably raise your score some.

If you can get an idea of average GMAT and GPA from the online program, it may be a good indicator of where you stand. (Although I'm not sure that information may be available.)

MPV52302,

Have you been admitted into any real estate programs yet? If not yet have you narrowed down your options? What do you think about UCONN Real estate MBA program? I"m considering applying for Uconn's MBA program (they have a concentration in Real Estate which would be the reason for me applying) I feel like i'm in a similar boat to you (and others that posted also). I"m interested in real estate and want to make enough income from my real estate ventures to have the ability to choose, if I decide so, to work for myself.

Have you found any specific differences/advantages in working toward an MS vs. an MBA?

Connecticut

astachowia -- sorry but it seems MPV's last visit here was April, 2005..

When I was taking my MGMAT class, there was a classmate who was studying for GMAt in order to apply to a MS Real Estate program at Columbia. Apparently it has a great reputation among the employers. You should check that program out.

I think MS in real estate is better than MBA in real estate because the poor structure of MBA in India if you like to do MBA than you should choose the IIM than you can compare the MS with your MBA
builder in bhopal

Hey !
I just saw your message and I need an advice. Even I am planning to apply at NYU real estate program but I am not sure about the job oppurtunities after the course. Can u please tell me if by any chance you know abt it?

Also can u please tell me the total tution fee for the MS real estat program. I am not able to find the complete cost for the full program and what gmat score can get me into nyu ?

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