I’m minor and I’d like to flip houses. How do I do it?

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First, you need to have the resources to either pay cash for a house or get a bank loan for a short-term (6–12 month) loan. The second step is to locate a suitable property by searching your neighborhood multiple listing service, joining real estate investing clubs, going to real estate auctions, browsing online classified advertising, etc.

Purchasing a home, usually one that needs work, and selling it later for more money than you paid for it, plus the cost of the updates or repairs, for what you believe to be a reasonable profit.

You can accomplish this without taking a motivational course. Start by working with a reputable real estate broker who frequently discovers these homes and can assist you in finding these “bargains,” a lender who will base your loan on the renovated property and the appraisal, subcontractors to complete the work, listing with the same broker, and selling. You must either individually qualify for the loan or provide a co-signer who does. I personally know average people that do this for $100K to $1M year.

Vaor

“Unless you have a heck of a lot of cash, you don’t…you can’t get a mortgage. Even then a trust would have to own the houses, you can’t children can in fact own houses through a trust…one of the brady bunch actresses bought a house when she was 11.”

Anonymous

“Lie down at the edge, put your feet up to the base of the outer wall and push.  Push hard.  Push harder.  Get friends over to help push.”

Anonymous

“You can’t, not until you’re 18 in most states and in other states 19, like in Nebraska. That’s because you cannot enter into contracts, like sales contracts and contracting contractors, until you reach the age of majority, which is 18 in most states and 19 in the rest.”

Anonymous


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