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Updated almost 10 years ago on . Most recent reply

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6
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2
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Benjamin Adkins
  • Los Angeles, CA
2
Votes |
6
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17 Years Old and I want to complete my first transaction before 18 is this possible?

Benjamin Adkins
  • Los Angeles, CA
Posted

So I am 17 and I graduate high school in June. I have a goal of completing my first real estate transaction before I turn 18. I know there are legal issues that I may encounter but my parents said they will help me. So I was thinking of having them be for lack of a better word figure heads and I could be the brains behind the operation. If someone like me had the right knowledge and the proper guidance do you think this goal is achievable. I know this will take hard work and I'm ready I just want to know if this is possible or am I thinking of a goal that is far fetched. And if you do think do think this is possible, what steps do you suggest I take? I was thinking of a baby step transaction something very small. If that even exists? I am currently reading books and taking classes and going to my local REIC.

Most Popular Reply

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777
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742
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Curtis Bidwell
  • Rental Property Investor
  • Olympia, WA
742
Votes |
777
Posts
Curtis Bidwell
  • Rental Property Investor
  • Olympia, WA
Replied

My son bought his first home when he was 15! It is correct to say you cannot contract prior to 18, HOWEVER, nothing says you can't establish an LLC and contract on behalf of the LLC. That is how we did it. I did help him in that I am a 1/3 member of the LLC and the registered agent. But through the LLC he was a legal owner.

  • Curtis Bidwell
  • Podcast Guest on Show #95
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