Hey All,
Whats the deal with underage investing??? im 13 and i want to know is it possible because i would like a head start in investing so when i finish yr 12 i could have something to fall back on because my parents are getting older and i dont want to have to rely on them because they have to have their life aswell.any help would be great.
cheers, bradyKeep saving lil dude
once you prove to yourself that you can save you will be ready to go when you turn 18, the bigger deposit you have saved the more property you can buy!
You will need a job too to service the loan
Luke [cap]
My 2c worth Lil man,
Keep you eye on the goal and prepared to be BORED.
At 13 it is boring to save and develop good spending habits. But these skills will set you WAY apart from your friends.Try and stay motivated by reading books and using the forums like this one.
Just think of staying committed to the goal as doing your future self a massive favour. When you are 18 buying your first investment you will definately want to thank your 13yo self
Unfortunately you have to be over 18 to sign an enforceable legal contract (so yes 18+).
That though doesn’t have to stop your progress. You will have to team up with someone who is over 18+. Grandparents (who have either been involved with real estate or business) can be useful in the fact that they can sign the documents and if they have enough equity qualify for any loans. Of course if they have not been entrepreneurial it will be a lot harder (and I would not peruse this option). The only reason why I suggested it is because they usually want to put family ahead. Parents can also be useful too (see above).
Another reason is to try and start to form a relationship with some who is entrepreneurial that your parents or you know. Offer to work for them for free (as Robert Kiyosaki did for his “Rich Dad”). This requires maturity though, and it is important that you treat them with total respect and honesty, esp. if you want them to help you. With them work out a deal that will benefit you both, and show them you have plans if the investment goes bad – this and respect is very important.
Lastly if you find great deals resell them to us private investors! This is a great way to make some quick cash! Or find a investor who will get the loan in their name (but you will have to provide at least 50% of the profit to them to make it worth while – so check out wrapping to get higher returns).
Hope this helps.
O’h and it’s Lucifer, Not Lucipher. Cheers.
Rgds.
Lucifer_au
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