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Young people investing in RE

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TNT

New Contributor
Aug 31, 2007
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I have seen several post about young people buying RE and how they can't because of their age. I was wondering how a person under 18 might go about buying RE. Could they form an LLC and have it buy the RE. Can they even hold an LLC or some other entity? I know about the parents helping but are there other ways? Any thoughts:3some:?
 

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Allthingznew

Contributor
Aug 26, 2007
408
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25
The difficulty someone under 18 faces is that they cannot enter into contracts, they have no legal standing yet, someone has to do so on their behalf, this is typically a parent/guardian for obvious reasons. This doesn't stop some of them from entering contracts, but if the contract is ever contested, it is typically considered void or easily voided as the minor never had the capicity to be in the contract.

It's in the minors best interest to have a parent involved as they have to trust the one entering the contract on their behalf.
 

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