Help with loans as a teen
2 Replies
Chase Guelette
posted 8 months ago
Hey BP! Little background info, I am 15 years old and looking to buy a house before my 16th birthday! How do I, as a teenager, go about getting a loan? I have almost no cash, certainly not enough to buy a house and only work part-time. How do I get a bank to loan to me? I would love any advice, and all responses are appreciated!
CJ M.
Rental Property Investor from Canton, OH
replied 8 months ago
I hate to be the bearer of bad news, but I don't think you'll be able to get a bank loan if you're under 18 anywhere, without perhaps a cosigner. I would use the next 1 to 2 years to educate yourself on this business, make connections and network, build your credit, and save save save!
Dan Sheeks
Rental Property Investor from Denver, CO
replied 8 months ago
Hey @Chase Guelette
Congrats
to you for your ambition! I am willing to help you out with some advice
or even chat on the phone if you wish. But I recommend you read this
article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21. Once you've read it, let me know your thoughts and if you have any questions. Best of luck and hope to chat soon!
https://www.biggerpockets.com/...