Every week, I answer my subscribers’ questions on my YouTube channel. If you want your business and investment question answered by me, a property multimillionaire, please put your question in the comments section of this week’s Q&A video. Next week, I’ll do my very best to answer your question. Please remember to subscribe to my channel or you may well miss my reply!
This week, I got a really good question about starting out as a deal sourcer at age 17. I bought my first property at age 17 myself. It is really great when young people want to get started in business or property so I decided to cover the question here on the blog. I hope that my answer will be useful to young people and their parents looking to get started in the world of entrepreneurship.
Will Alexander says…
Can you package and sell deals as a teenager e.g. aged 17/18?
Yes, you can if you're 18 years old; you're an adult. Therefore, you can do whatever you want in England. In the UK, you can get married; you can travel the world; you can set up a business; you can build an empire at 18. You can do what you want, no different from a 28-year old!
If you're 17 years old, you are technically a minor according to UK law. You can’t set up a business bank as a 17- year old. However, you do have a national insurance number. You should usually get a national insurance number just before you turn 16. My videographer just told me that information.
So when you turn 16, if you've got a national insurance number, you can trade as a sole trader and you can get paid. So if you want to help people, you want to be a deal sourcer, you can.
What I used to do when I was 17 was I used to work as a sole trader, I used to find people tenants for their rooms and I was getting paid for my time.
If you are going to be a deal sourcer you can just say, ‘hey, can I go out on viewings and help find you properties’ and you'll just get paid by investors and landlords for your time. Then when you turn 18 and set up a business you've now got a bit of money behind you and a bit of experience.
So yes you can, is the simple answer!
If you would like to see all the questions in this week's video, you can watch the full video at the top of this blog post!
No matter how old you are, it is always the right time to start learning about property. You can start by reading my books; watching my YouTube videos; or even attending one of my free training days (if you are a minor please come with a parent or guardian and ask them to make the booking). You can book a free ticket to my next event here. I hope to have a chance to speak to you about property and business in person.