If Mr. Londa could go back in time he would have majored in finance as he now understands the importance of receiving a more holistic business education. While Mr. Londa doesn’t necessarily believe it is essential to earn an MBA in order to be successful in the real estate industry, he does stress the importance of students learning how to effectively use excel, underwrite deals, and fully understand the elements of a financial model.
Mr. Londa’s advice to current students is to read as many real estate articles and newsletters as possible, as he believes gaining a broad exposure in real estate will be extremely beneficial to one’s long term success. Regardless of one’s temperament, Mr. Londa stresses the importance of being tenacious. In the real estate industry where there are few barriers to entry, Mr. Londa believes that many people come into the industry with a lack of vision and thus “follow the herd”. Mr. Londa urges students to not fall into this trap and common tendency of following others. Mr. Londa encourages students to think outside the box, to be persistent and to learn from one’s previous mistakes.