Im 17 years old. I look forward to start co-wholesaling, I have a significant amount of knowledge to haul in a pool of buyers ready to invest in or buy properties. The thing is, can i sign a co-wholesaling agreement if im only 17? Im not technically buying or selling any property under my name? Im simply setting up deals and walking . The wholesaler and i split the assignment fee 50/50 and when the deal closes he or she will send me a check of half the money made in the transaction. Is that legal?
Thats a complicated question @Luigi Gutierrez. Technically if you are under 18 you can't legally enter into a contract. You could if you were emancipated. All contracts are different but in the case of RE contracts, if signed by a minor it is void. States have different laws. Check your specific state but its not likely.
cow-hole-saling ... sounds messy ;-)
what do you mean by emancipated
emancipation means this read this
but I dont think tou will wantbto do it I would ask your parents to cosigne for you insted
thanks for the help. so if i get my parents signature, i can start
@Luigi Gutierrez Even by starting now, you might find that you turn 18 before your "significant knowledge" will REALLY "haul in a pool of buyers ready to invest"!? (But if I guessed wrong, there is always that parent thing).
Then, if your knowledge becomes indispensable to your co-wholesaler/s, there is nothing wrong with you negotiating for MORE than 50% of the profit-spread! Cheers...
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