Hi everyone, my name is Michael I'm 14 years old and I live in westchester county in New York. I want to start some sort of llc or other corporations so I can sign contracts. So what I'm looking for now is an attorney I can talk to and see what the story about everything is, does anybody have any recommendations of some attorneys I can talk to for some advice. I will be looking to start out with buy and holds pretty soon as long as my parents approve of it. Do you guys have anything to say to me about this and also do you have any recommendations of some attorneys that I can talk to? Thanks in advance!
Does anybody have any recommendations in or near westchester county? It can be in the Bronx, as well or other nearby places.
Michael talk to your local agents and see which lawyers they recommend. If the same name comes up I would go with him.
If you want advise from a lawyer it may not come cheap, I would suggest looking for a mentor first if you don’t have one..
How do you plan to finance your deals?
First I would like to form this llc maybe in two or three years so I will have enough capital, then I will probably either partner up with an investor I know or just get an fha loan. @Raul R. Also, thanks for the advice, do you personally know anybody by any chance?
I have some mentors I talk to as well, they all don't really know much about what I should do
They never started real estate at such a young age for this to be a problem.
I invest Out Of State so I don’t have many contacts in Tri State area I do have a great CPA that lives in NYC when you’re ready. My closing attorney that I use in the Bronx is in his late 60s so unless you are ready to close on a deal I doubt he will want to mentor you.
I know it will sound cliche, at your age just continue learning. If Real Estate is your passion consider getting a major when the time comes that will help you with your passion..
A lot of novice mention they want to partner up, remember this when the time comes..
Why would someone want to partner up with you? What do you have to offer??
As of yet I haven’t partnered up with anyone, I plan to at some point. When I do first question I will ask is what can this partner offer, bring to the table that I don’t have?
Thanks for the help @Raul R. We should keep in touch!
In many jurisdictions, Minors under the age of 18 cannot enter into legally binding contracts. I am not 100% clear on NY, but you cannot form an LLC at that age. There are provisions under the UGMA/UTSA where you can be a beneficiary, but talk to a NY lawyer for guidance onthat.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing