Heyyya
is it possible to invest under the age of 18 because my mother is going to let me use her signature![evil4]
My goal is to get at least 3 IP’s by the time i finish yr 12.[grad]
If anyone has some tips or advise that would be great!
Iil_Man,
If you go ahead and do what you claim, borrowing your mother’s signature (with or without her consent) you had better familiarise yourself with a word which will (without fail) get thrown at you a great deal, especially by those in the legal/justice system:
FRAUD
Don’t do it; it’s a
CRIME!!!!!ohhhhh ok, thanx monopoly!
so i have heard of people getting property underaged how is it done???
cheers, brady
Hi Brady,
Yes they do….I was one of them myself.
I bought my first property just 2 weeks short of turning 18, but I was not allowed to sign the contracts, this had to be done by my parents as I was still legally a minor.
Cheers,
Jo
hmmmm.
so what your saying is you used your parents signiture because you ccouldnt use you own?
isnt that fraud?
cheers, brady
No Brady,
I didn’t USE their signature, THEY signed the contract themselves!!!!
The contract was signed as Mr & Mrs X and/or nominees, and then two weeks later (when I turned 18) I was the named owner.
Had my 18th birthday been months away, another option would have been for them to sign all the paperwork but put me down as a “tenant in common” and later transfer the title to my name solely. Or some such process……check with a solicitor for exact terms, but there are ways around it. BUT YOU CANNOT SIGN THE CONTRACT ON YOUR MOTHER’S BEHALF she has to do that!!!
She can sign for you, as you are a minor, but not the other way round!!!
Furthermore, she can sign the sale contract as my parents did, with you as a nominee, and then nominate that your name be put on the title.
Jo
ooooooooooohhhhhhh.
hahahhaha thats what i meant in the first place! i wasnt going to write her signature, she would do that but it would be her signature not mine. haha.
that other strategy sounds good too monopoly.
thanks!
Hi lil_man,
i hear ya, there is actually a way of purchasing property under the age of 18, serious guys, it can be done…
… if you guys recall, early last year, a case of 61 babies (thats right toddlers), were able to access the first home buyers grant, and have their name on the title, it works in such a way, where there is a caveat held over the title until the minor turns 18, and then the title is transfer over to them… since then, they have changed the law, were now you have to be 16 years of age, before you can access the first home buyers grant… still thats 2 years off 18…
im not quite sure how it works, but i have my solicitor, working it out now, on how a minor can purchase such a property… (for my brothers sake), but also due to the fact, that i deeply believed that in another 2 years, the FHOG, will be lessened, as many states are now reducing the FHOG amount and that in 2 years time $7000, wont go as far as it does now…
sorry for not much more help…
but in the mean time, and if you really want to get into the investing, what about if you open a share trading a/c, its very simple for minors, just get someone who can go as a trustee for you, and you account can be set up within minutes…
im not quite sure how old you are lil_man, but when i open my brothers share trading a/c for him, he was only 15 at the time, still he is under 18 yrs of age now, but he trades a few times a week (with real money), and has a simple stockwatch list that he paper trades as well, but he is definetly doing well, but hes definetly gained more experience and practice skills, than people twice his age, who have only traded a few times, or who have never traded in there life before.
… but definetly give it a shot, the more experience you get, will put you miles ahead of your friends, and its knowledge you will always hold and have….
Cheers,
sisthaaaaaanks sis!
that helps heaps, im only 13 now but ill start the day i hit 16.
i am already half way into the stock market, only a few more papers and things to sign!
Great to Hear!
Wish you best of Luck, but please read and learn as much as possilbe, cause one day, i want to hear the story of a young trader, who can consistently beat the market!
Good Luck!
sis
Oh lil_man,
this might be an idea, but ill share you a story, back in my high school days, which werent too long ago…
i use to run a cleaning business, where every morning i would go out and clean building offices and factory offices, normally this would take 2 hours every morning before high school would start, and were i would start work every morning at 6 o’clock to 8 o’clock, i just do these light duties, anyway… i was getting a good amount of money for the 2 hours work every day, and the guys would pay in cash…
but soon not longer… my brother took over for me, were he would go do the duties for me, and not long after i would give him half the earnings every morning, and it saved having to do the work… the story is, this was my first business, but instead of me having to get up and do this every morning, my brother would do it, get his cut, and id get my share, even though my involvement soon became non existence, yet i would always have this cashflow coming in, as long as he was doing the work… for a long time, this worked out really well and great…
not long after that, my brother began doing the same thing, he started doing paper deliveries most afternoons after school, but because his best mate and him would go fishing soon afterwards, his mate, started doing half the paper run, and soon after that, my brother was recieving the full income from that, yet, always his mate would do half the run for him, so that they could go fishing sooner and earlier,
they would drop there crab dilles in the river, then come back later, to see there catch and then would sell the crabs to the local convience store, and make some small profit on the side…
what i do remember is, the convience store owner, would pay them for the catch they would offer him, and because of the end of day trading, usually the hot food such as sausage rolls and pies, would be given free to them… there little business operation worked out quite well, and was quite successful…
… these are just some small stories to share, but something you can think about, and can be your only little business you can easily start up and run…
wish you good luck and all the best!
Cheers,
sis
You must be logged in to reply to this topic. If you don't have an account, you can register here.
