Posted by max-Va on December 27, 2006 at 22:13:54:
There is a story of a 15 yr old doing hundreds of thousands of $$$ in real estate. He does it by phone and internet. He sends his partner (mom) to meet and sign up the deal.
Sorry no way that I know to get around the 18 yr old legal age without a partner.
Legal Age - Posted by Chanel
Posted by Chanel on December 26, 2006 at 23:00:06:
Hi, my name is Chanel. I live in California. I would like to wholesale properties but I’m not sure if I’ll be able to because I am only 16 years old. I take real estate very seriously and do not like to play games. Do I have to be 18 years old to wholesale properties? If so, is there a way around it i.e. LLC’s, partnerships?
The problem is that… - Posted by Gary-Oregon
Posted by Gary-Oregon on December 30, 2006 at 01:05:28:
a contract executed by a monor is voidable by the minor. So someone would have to be crazy to enter into a contract with a minor knowing that the minor can void it at a future date for no reason at all.
Having said that, John’s post is correct and very good advice. LOL
“Removal of Disabilities” option - Posted by John Merchant
Posted by John Merchant on December 28, 2006 at 15:50:10:
Every state has a statute on allowing a minor who has a legitimate need to have his “Disabilities of Minority” removed by a local court…so he/she thereupon becomes an adult in eyes of the law so he/she can contract as an adult.
This statute usually requires the minor to be at least age 17 so you might have to wait until then to file for same.
Until then just have some trustworty friend front for you. Not illegal for you to buy, but if it’s then in your name you couldn’t sell without judge’s intervention.