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Dual masters
Hey all,
Im entering into grad school at the University of Miami in the fall. I am enrolled in the Master's of Architecture 3 year program, with plans to pursue An additional Master's in Real Estate Development + Urbanism. To be frank, I do not have an architectural background, but I do have a creative mind. My goal in life is to be able to develop, design, build, and own my structures. Though I am having doubts about being in a three year program and am weighing my option of just pursuing the MREDU degree. Does anyone in the architecture/development industries have anything to bring to the table.
You have a creative mind, but do you have a spotless mind, or a beautiful mind? We need more of those.
what do you mean by this
Try Google . . .
My mind is completely empty. That should count for something.
Need money to design develop and build own structures. No degree needed.
An architectural license is though. Well in most cases. That license tends to require a degree . . .
Arch license comes an average of 13 years later. And the want to develop and build too? How many years will it take to learn all three? Best to just have money hire it out. Start today.
It will take decades to only learn how to do ONE of these things well. Also how do you 'have' the money?
use other people's money. Those who already have the money or inherited it. You don't need much of any money to get a business license and those basic stuff. It does to get real estate. That depends on the cost of the real estate, do work to increase value where the increase in value is more than the investment. This comes with timing. Real estate market value goes up and down with the market so that has to part of the equation of timing the work so you sell at the upswing in the market value (maximizing the value of the sale. If you don't have the money to even start the real estate development and flipping... you need someone else with money to investor. In other word, an investor, from which they need to get back what they invested and you and them work out the profit sharing. You need to pocket away your profits for future development when you need to invest on your own as that will eventually b the case. However, you need someone else with money to start that kind of business. The only way you make money without money without an investor.... well that is printing your own money or robbing the bank so... that's a no go option if you want to do things legally. An investor is anyone who contributes money to an investment. This can be crowdfunders or traditional.
Bottom line: Make a friend who has money and willing to invest money.
For some insight on the topic, I suggest reading James Petty's book Architect and Developer which contains a great deal of information on self initiating projects. Tge book also contains interviews with several architect/developers.
Many people have gone down the architect/developer career path. Degrees in real estate development are a fairly new phenomenon. Prior to the emergence of real estate graduate programs, most people went to architecture school and learned the development side through work experience or self-study.
I read it as “Duel Masters”. This is much less fun.
It's laptops at dawn, baby.
I'm envisioning the duel scene from John Wick 4.
I think it's a positive move to do a dual degree. Career advancement and being nimble to shift to the changing work environment an re better suited to individuals who are not solely locked into one specialization. Unless you full heartedly want to become an architect and grind solely on that then having a broader education is a good idea.
My son finished a business degree and is working in Real-estate development and now considering going back to school for planning / project management / construction management / architecture. to make himself more of an asset.
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