Q: Is there a certain age that you have to be in order to buy and invest real estate?
I am 13 and looking to get into real estate to make a steady income but don't know we're to start or if I can get into investing in property's right now or if I have to wait.
A: There is no age requirement for owning property in NC. To enter a binding contract to purchase or sell property, the minimum age requirement is 18. Similarly, banks require you to be 18 to sign a mortgage, again, because it is a contract.
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A:
In North Carolina, there's no specific law that sets a minimum age for investing in real estate, but contracts, including those for real estate, generally require someone to be 18 or older to sign them. This means that, at 13, you would need an adult, such as a parent or guardian, to make purchases on your behalf.
However, you can still start learning about real estate investing now. Begin by studying the market, learning about different types of properties, and understanding basic real estate terms. This will help you be better prepared when you're older and ready to make investments directly.
You could also explore ways to invest indirectly, like through a custodial account or other options that let minors participate in investing with adult supervision. Taking the time to learn now can set you up for success when you're legally able to sign contracts on your own.
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