Posted by wannabedivin on November 19, 2006 at 10:51:19:
The same thing happened to two fo my daughters. They were both under 18 and the courts forced me to use “safe investments” i.e CD’s. Not sure if this applies to you are not
Looking for a note - Posted by Jessyca Strassburg
Posted by Jessyca Strassburg on November 18, 2006 at 08:02:50:
My daughter just recieved a settlement (in my care) for a car accident and I am looking for profitable way to invest $10,000 of her money. I was “getting into” the note business a few years ago but life changed and I quit that to work for a boss:( Need refresher course on best thing to do with this money and I’m sure alot has changed.
Re: Looking for a note - Posted by John Merchant
Posted by John Merchant on December 05, 2006 at 12:13:35:
Jessica, I’d advise you to look around your area for a cheap little Mobile Home you could buy for less than $10,000 and resell for maybe $15-20,000 with down payment and note.
I can’t think of any other little note for $10k or less that you’d want.
Little book Deals on Wheels, advertised heavily on Mobile Home forum here is a real winner and can show you how this business works.
Of course you couldn’t use your minor child’s money unless you have legal right to do so, and in my experience most court’s are unwilling to let a parent or guardian of the funds use money for anything except bank CD.
Whenever a lawsuit is settled for a minor, typically there will be appointed a Guardian for the estate (the money) and that might not be you so you’d need to check and see who it is and what investment rights he/she has.