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May 0507:00 PM EDT
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In this live 60-minute masterclass, How to Get Ahead of MBA Recruiting Now, we’ll walk through the four biggest mistakes incoming MBAs make and how to avoid them so you’re not scrambling to catch up once recruiting begins.
May 0706:00 AM PDT
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A strong MBA application is built long before you start writing essays. In this session, Scott Edinburgh (Founder, Personal MBA Coach) shares 6 practical ways to improve your MBA profile before MBA application season
May 0710:00 AM EDT
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Sia Admissions Founder Susan Berishaj is covering this live on YouTube, May 7: how admissions committees actually evaluate goals statements, who is in the room, and why the goals statement most applicants submit wouldn't survive that conversation.- May 07
11:30 AM PDT
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Most MBA resumes fail not because of weak experience — but because of how that experience is presented. In this episode, we break down what makes an MBA resume effective, and how to shift from listing responsibilities to demonstrating impact... - May 08
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May 1111:00 AM IST
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04 Feb 2019, 07:51
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Hi Everyone,
So here is my current situation: I've been accepted to Cornell Johnson (no $) (still waiting to hear back from Tepper, Penn, and Tuck). I have very little savings because I've been investing most of into my real estate business (currently average about $3k/month in passive income with the properties under management). My original goal through investing in real estate was to use the income to help pay for things I cannot finance with student loans (car, phone payment, trips etc.)
I recently had to fork out what little I had in my savings to take care of an unexpected problem at one of my properties. That made me question whether it was realistic to attend my MBA this Fall of 2019. What if another roof leaks and I have to pay $10k to get it repaired? (assuming it's due to wear and tear and therefore insurance doesn't cover it). What if half of my tenants decide to move out at the same time and leave the units in bad condition? (I understand this is unlikely but still a possibility).
I'm not sure if everyone has savings when they enter their MBA program, but given my circumstances I would feel most comfortable if I had at least $30k in savings to cover such unexpected expenses.
I currently make $70k from my full time job and about $30k from the real estate investments annually. The real estate properties will be under management so they will not take much time away from my studies (just have to do book keeping and make a few decisions about repairs and tenant issues here and there).
After talking it over with a few people, I feel like I have the following options:
(1) Request to defer a year from the top choice I end up getting into (I know deferment it unlikely based on what I read on here). But I suppose I could always reapply next year and in that case I would also have time to increase my GMAT score (I scored a 720 last time) and perhaps boost my other credentials as well. I think I could comfortably save up at least $30k (probably more) which would put me in a much less stressful position while completing my MBA a year later.
Downsides to option 1: Given a post-MBA consulting salary of roughly $140K (conservatively) I realize my opportunity cost would be very high by waiting a year. Also, I would likely have to reapply and have no guarantee getting in again.
(2) Take a chance and matriculate this fall. While I think I could most likely pull this off (getting $3k/month in rental income and hopefully putting it aside in case something goes wrong). My fear is I would be very stressed thinking about worst case scenarios (e.g. tenants destroy the place and move out, requiring me to pay out of pocket while not receiving any rental income for a while and at the same time trying to find new tenants and handle any insurance claims).
Cornell wants the initial deposit ($1,500) at the end of this month. I'm trying to decide what to do next. Any help would be greatly appreciated, thanks.
So here is my current situation: I've been accepted to Cornell Johnson (no $) (still waiting to hear back from Tepper, Penn, and Tuck). I have very little savings because I've been investing most of into my real estate business (currently average about $3k/month in passive income with the properties under management). My original goal through investing in real estate was to use the income to help pay for things I cannot finance with student loans (car, phone payment, trips etc.)
I recently had to fork out what little I had in my savings to take care of an unexpected problem at one of my properties. That made me question whether it was realistic to attend my MBA this Fall of 2019. What if another roof leaks and I have to pay $10k to get it repaired? (assuming it's due to wear and tear and therefore insurance doesn't cover it). What if half of my tenants decide to move out at the same time and leave the units in bad condition? (I understand this is unlikely but still a possibility).
I'm not sure if everyone has savings when they enter their MBA program, but given my circumstances I would feel most comfortable if I had at least $30k in savings to cover such unexpected expenses.
I currently make $70k from my full time job and about $30k from the real estate investments annually. The real estate properties will be under management so they will not take much time away from my studies (just have to do book keeping and make a few decisions about repairs and tenant issues here and there).
After talking it over with a few people, I feel like I have the following options:
(1) Request to defer a year from the top choice I end up getting into (I know deferment it unlikely based on what I read on here). But I suppose I could always reapply next year and in that case I would also have time to increase my GMAT score (I scored a 720 last time) and perhaps boost my other credentials as well. I think I could comfortably save up at least $30k (probably more) which would put me in a much less stressful position while completing my MBA a year later.
Downsides to option 1: Given a post-MBA consulting salary of roughly $140K (conservatively) I realize my opportunity cost would be very high by waiting a year. Also, I would likely have to reapply and have no guarantee getting in again.
(2) Take a chance and matriculate this fall. While I think I could most likely pull this off (getting $3k/month in rental income and hopefully putting it aside in case something goes wrong). My fear is I would be very stressed thinking about worst case scenarios (e.g. tenants destroy the place and move out, requiring me to pay out of pocket while not receiving any rental income for a while and at the same time trying to find new tenants and handle any insurance claims).
Cornell wants the initial deposit ($1,500) at the end of this month. I'm trying to decide what to do next. Any help would be greatly appreciated, thanks.
