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Investor Question

Discussion in 'Homeowner Assistance Forum' started by Imager, Dec 9, 2004.

  1. Imager

    Imager LawnSite Member
    Messages: 23

    My Question does not pertain to lawn but I'm looking at being a property investor. The problem is that I'm only sixteen! Is there a way to obtain a loan at my age anyway?
     
  2. gscone

    gscone LawnSite Member
    from NY
    Messages: 81

    Really depends on how long you've shown to have credit history. Can someone co-sign with you? Can you show steady income over the course of XXXXX months/years? You may want to further educate yourself on this topic by reading books and speaking to RE brokers/agents, loan officers, anyone in the field. Good luck.

    GC
     
  3. geogunn

    geogunn LawnSite Gold Member
    from TN
    Messages: 3,010

    I dunno how things work on the LEFT COAST but I suspect you cannot enter into a loan contract until you are 18.

    and then you are going to need a co-signer. you sound like a kid with big plans. I hope it works out for you. good luck.

    GEO :)
     
  4. ALarsh

    ALarsh LawnSite Silver Member
    from Midwest
    Messages: 2,412

    Check out richdad.com
     
  5. Gatewayuser

    Gatewayuser LawnSite Bronze Member
    Messages: 1,765

    I am going to do that too, but you need to wait until your at least 18 and even then you are going to need a good income and probably a parent to sign.
    My brother is a loan officer for HR block and thats what he said. But I wish a lot of good luck to you! :waving: You can make verrrry good money if you invest right. payup
     
  6. out4now

    out4now LawnSite Bronze Member
    from AZ
    Messages: 1,796

    Just remeber not to overextend yourself because real estate is not a highly liquid asset. Persoanlly for your age put it in a drips fund or index fund for now and finance your own loan on a property latter in life, why pay interest to someone else when you can be paying yourself first.
     

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