Author Topic: Landlord at 14years old.  (Read 2765 times)

K-ice

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Landlord at 14years old.
« on: March 30, 2016, 11:57:29 PM »
Hey I just wanted to share this post.

http://youtu.be/GTTczC27fko

A girl buys her first house at 14 and now collects $700/month rent.


Drifterrider

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Re: Landlord at 14years old.
« Reply #1 on: March 31, 2016, 05:35:33 AM »
Hey I just wanted to share this post.

http://youtu.be/GTTczC27fko

A girl buys her first house at 14 and now collects $700/month rent.

Where (what country)?  I don't think a 14 y/o can buy property in the US (not an adult) but.....I could be wrong.

Mr. Green

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Re: Landlord at 14years old.
« Reply #2 on: March 31, 2016, 10:34:17 AM »
Hey I just wanted to share this post.

http://youtu.be/GTTczC27fko

A girl buys her first house at 14 and now collects $700/month rent.

Where (what country)?  I don't think a 14 y/o can buy property in the US (not an adult) but.....I could be wrong.
A bank might not loan a 14 year old money but a 14 year old can own property. Nothing stopping you from putting a minor's name on a deed.

Drifterrider

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Re: Landlord at 14years old.
« Reply #3 on: March 31, 2016, 12:48:24 PM »
Hey I just wanted to share this post.

http://youtu.be/GTTczC27fko

A girl buys her first house at 14 and now collects $700/month rent.

Where (what country)?  I don't think a 14 y/o can buy property in the US (not an adult) but.....I could be wrong.
A bank might not loan a 14 year old money but a 14 year old can own property. Nothing stopping you from putting a minor's name on a deed.

Is that from your experience as a lawyer?  Putting a minor's name on a deed isn't a minor making a contract.  I can put a dog's name on a deed.  Doesn't mean the dog owns the property. 
So, again, what country?

Cathy

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Re: Landlord at 14years old.
« Reply #4 on: March 31, 2016, 02:12:32 PM »
I haven't researched this issue in any jurisdiction other than Alberta, but in Alberta, minors can own property, although the normal property law rules are modified to allow the courts to take into account the best interests of the minor. See the Minors' Property Act, SA 2004, c M-18.1 and regulations promulgated thereunder.
« Last Edit: March 31, 2016, 02:15:03 PM by Cathy »

iamlindoro

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Re: Landlord at 14years old.
« Reply #5 on: March 31, 2016, 02:48:35 PM »
Whether she is the only person on the deed or has to co-own with a parent, I think it's fantastic. I could see it being a point of potential concern for her tenants (who might worry about the maturity level of their landlord, or their ability to quickly address expensive repairs), but from a high-level mustachian perspective, I'm impressed and thrilled at the idea of a very young person investing and growing their assets.  Further, even though she's doing something many adults have done before, the publicity is a great thing.  When we promote young people doing responsible and mature stuff, I think everyone wins.  Invariably, another young person (or their parents) out there will see this and it will set the wheels in their head turning... great stuff!

Christof

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Re: Landlord at 14years old.
« Reply #6 on: March 31, 2016, 04:28:15 PM »

NoNonsenseLandlord

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Re: Landlord at 14years old.
« Reply #7 on: April 01, 2016, 01:54:42 PM »
She cannot legally own property I do not think.  Can she sign any contracts, even utility contracts?  I know she cannot sign a lease with a tenant.  maybe she has a guardian, or property manager?

Bigsacks

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Re: Landlord at 14years old.
« Reply #8 on: April 03, 2016, 07:18:56 AM »
Well she had $6,000 and her mom paid the other $6,000, and I assume her parents put in the cash for the remodel as well so they are probably all on the title.....

But

That is bad ass......

Wish I had started at 14.......I would have 100 houses by now if I had