SGA approved the Real Estate Investment club’s budget request of $790 last week. The budget will go towards guest speakers, investment board games and other assorted costs.
The club was founded in the spring of 2013 by junior business majors Chris Salazar and Sam Frasco, along with seniors Erik Niemeier and Caleb Nickels. The club was formally approved by Dean Campbell and the Student Personnel Committee on Sept. 19.
Salazar, president of the club, said at the SGA meeting that he formed the club because he “built up a passion last spring, and started trying to learn as much as I can.”
He, along with three other founding members, began learning more about the subject through real estate investment books, online articles and current professionals in the field.
The group’s main focus is on personal development, hoping to create leaders across campus. They function as a “mastermind group,” where students can come and bounce ideas off each other, and educate themselves on a litany of business philosophies regarding real estate investment.
The club had its first official meeting last Tuesday, where Augustana alumus and full-time real estate investor, Ryan Husmann, spoke to the students, sharing his first-hand knowledge of the field and providing tips to success.
The club also has six speakers lined up for the upcoming months.
Salazar noted that another reason he sought out the creation of the club was because Augustana does not offer classes or majors tailored specifically to real estate investment.
He said at the meeting, “we are taught about stocks and bonds, but not really real estate investment.”
Accounting professor Nadezhda Schwartz admitted the absence of such a program, but stated Augustana is “preparing you for the financial world in general, it might not be very specific to real estate investment, but it is very hard to kill all the birds with one stone”
In saying that, Schwartz saw this club as “one more step to improving overall financial literacy [among students] .”
Second to technology, real estate investing accounts for the medium by which the most members on the Forbes 400 list acquired their wealth. This list, which documents 400 of the richest Americans, is staffed with people such as Mark Zuckerberg and Warren Buffet.
Salazar said he “cannot count on a job in this economy, even with an Augustana degree.”
He added that his passion for success has been a driving factor behind the club and he hopes that he will be able to attract more passionate and focused individuals with the same goals.
Junior Matt Stevens, the business representative for SGA, thought the club could be beneficial.
“This group would be an excellent move to allow students at Augustana to strive for success,” said Stevens at the SGA meeting.
The club has about 30 members, most of which are freshmen. The club accepts students from all majors and minors, not only business. The club meets Tuesdays at 6 p.m. in Olin 305.