Colli Real Estate

16 year old Real Estate Investor?

I’m looking to get involved into real estate after reading many books such as the Rich Dad Poor Dad Series, Real Estate Riches, Nothing Down and real estate negotiating – but I have a few questions.

1.) If I apply for a loan, would the loan be in my mom’s name or in both of our names?

2.) Where can I find my local real estate investing club?

Thank you.

You cant sign legal documents until you are 18, or emancipated. They would have to be in your moms name. All qualificaitons would have to be in your moms names. Her credit will be used, her income would be used to qualify etc.

Your name would be nowhere on the loan documentation or on title. Not until you are 18. Emancipated means you go before a judge and prove that you are legally responsible enough to be an adult. Its like getting a divorce from your parents. They are no longer responsible for you, and you have to prove to a court that you can legally be responsible for yourself. Income, Financial ect.

Sorry thats just the rules.

Good luck with your future in the investment business.

Real estate closing and negotiating – Home closing tips

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