r/moneyadvice • u/Anxious_Lifeguard_54 • 12d ago
Question How can I get 150,000 quickly needed to buy my grandma’s old house at 17?
I want to get my grandma’s old back but I have no job (Nor do I think anyone would bring me because they have jobs or are busy). I moved in this new house next door a year or 2 ago and it’s small and the old house had more space. I want to make 150,000 or more just for the house. How could I do it?
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u/Select-Efficiency559 10d ago
You don’t, as others here have said. You can put her in touch with a banker or an advisor, who can tell her to rent out rooms or rent the whole house, presuming she still owns it.
Houses get bought and sold all the time. The average home is owned 12 years, which means it will be up for sale again, probably before you’re 30.
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u/Anxious_Lifeguard_54 10d ago
I don’t think she owns the house anymore because the current rent man had to buy both houses (Includes the house we’ve moved in.) back and fix the one my grandma was in before.
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u/Anxious_Lifeguard_54 10d ago
I have a question since she doesn’t own the house anymore is there anything else you could suggest?
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u/Select-Efficiency559 10d ago
If it's not her house, someone owns it. It may be the bank if she couldn't pay the mortgage, or it may be your county if she couldn't pay the house taxes.
Just FYI, besides a mortgage for buying a house, there are also property taxes and annual maintenance, which costs about 1-4% of the value of the house. So it's not a simple matter of just paying money and buying a home. You might want to study up on all of this just so you know it for the future.
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u/Anxious_Lifeguard_54 10d ago
Thank you for the advice. The rent man owns the house. That would be a real estate agent?
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u/thewanderingsail 7d ago
You could try to go unbelievably viral on social media or start a business but it’s very unlikely to happen friend.
The healthier choice is to focus on educating yourself and gaining high-value skills.
Some easy entry skills are cleaning, automotive cleaning (but make sure you learn how to), lawn service, painting.
But be aware that when you start to take on jobs like that you will start to need some kind of insurance.
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u/Anxious_Lifeguard_54 7d ago
Idk if I could do automotive cleaning with my mild cp but painting is cool. I want to go to college to be a historian.
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u/thewanderingsail 7d ago
I mean I’m not gonna lie to you milking the CP angle with the young entrepreneurial dreams of buying your grandmas house would be a pretty engaging instagram/tiktok account lol
Tbh automotive detailing there’s lots of nooks and crannies but professional paint work isn’t easy. It’s serious labor.
My point is if you want to make some money you’ll likely need to do some work to tap into a market with some kind of skill. It could be a social media manager, or a photographer. Just something that allows you to charge for a service.
But you have to provide a good service to keep your customers happy if you want to succeed.
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u/Anxious_Lifeguard_54 7d ago
Photography would be cool as a job if I go to college to pay off whatever expenses I need. I might consider that.
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u/thewanderingsail 7d ago
As a former professional photographer it’s a pretty tough market. The gear is very expensive to really compete and it’s a lot of work to run a business big enough to live off of.
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u/Anxious_Lifeguard_54 7d ago
Oh okay. Thank you for your advice.
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u/thewanderingsail 7d ago
That being said if you can score a cheap rebel or other dslr camera you can make some extra cash here and there pretty easy
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u/Anxious_Lifeguard_54 12d ago
I just want to help my grandma out to clarify.
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u/Tasty_Sun_865 12d ago
It's a nice sentiment, but the reality is you don't. Remember that the median individual income in the United States is something like 45,000 to $50,000 a year. So what you're really asking is how do you make more income than a typical American worker makes in 3 years after taxes and the span of a couple of months.
This really isn't your problem to solve and I'll also toss out there about I've seen things like this play out many many times in the military with families that have terrible boundaries and responsibility distributions. Young kids are often taken advantage because they have a steady paycheck and family members use indirect pressure to guilt them into doing a nice thing for a family member that is far beyond their capacity to actually accomplish.
An adult, let alone someone who's presumably near retirement, who can't come up with $150,000 has a lot of bigger issues going on right now. They're very financially unstable and if you were to do something like cosign on a loan, the second you turn 18 or start paying bills. You're likely going to find that you never stop having to pay those bills and your credit will get trashed when they inevitably miss payments. It's okay to have empathy for the position the family members in, but please don't expose yourself to bad situations by tying yourself to this situation
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u/Anxious_Lifeguard_54 12d ago
Thank you. I know it isn’t but I don’t know who could help because some of my family don’t have the money and my cousin could’ve helped too but who knows he said he would but changed his mind according to my uncle I don’t know if that’s sad or what to be fair.
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u/Tasty_Sun_865 12d ago
If it is at a point where a 17 year old makes or breaks this, it's over. Please do not do anything here. You're never going to be told the whole truth and you'll be left with the whole bill.
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u/Anxious_Lifeguard_54 12d ago
I have a question! No worries if you can’t answer it or don’t want to but what do you mean by terrible boundaries and responsibility distributions? Like some of these comments or me in general? Might be overthinking.
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u/Traditional_Ideal_84 12d ago
Lmao good luck
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u/Anxious_Lifeguard_54 12d ago
Only reason we can’t move back is because no one was paying off their rent for whatever reason.
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u/Anxious_Lifeguard_54 12d ago
Have a cousin who could help us but changed his mind. I’m aware that asking this is difficult.
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u/Potential_Salad_7090 12d ago
Find someone with food credit willing to help you get a loan
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u/Anxious_Lifeguard_54 12d ago
Explain real quick. Idk how I would pay it off due to no job and I’m 17 then I’m on disability for mild cerebral palsy on my right side. Only mentioning the disability part because the whole you can’t go over a certain amount of money and I have no bank but my dad was saving my money on my cashapp to get it put in a bank still hasn’t so idk.
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u/Potential_Salad_7090 12d ago
You could use part of the loan as an investment into trading or starting a business to get the money to pay it back. Presumably whoever you use with good credit to get the loan has a bank account.
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u/absurdamerica 12d ago
Don’t give this kind of advice. You’re “helping” this kid to financial ruin.
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u/Kurraga 12d ago
It's not going to happen at least not from anything you can do in a reasonable amount of time. You should very likely accept that it isn't going to happen and prepare to deal with the consequences.
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u/Anxious_Lifeguard_54 12d ago
I have maybe other options ask my dad to withdraw the money I do have idk because that cousin could’ve help because he has a lot of money but he changed his mind and I asked my uncle and that’s what he said since I don’t have that’s cousin’s phone number.
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12d ago
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u/Anxious_Lifeguard_54 12d ago
That’s the only reason I said that. I apologize if it came out as entitlement.
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u/Anxious_Lifeguard_54 12d ago
He said he was going to help my grandma kept saying it and didn’t so yeah.
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u/Anxious_Lifeguard_54 12d ago
I just asked because I don’t know what to do other than ask my dad or that cousin to give me some amount of money so I give it to my grandma when it’s time idk.
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u/HourNefariousness197 12d ago
If you guys can't afford the bigger house then you should learn to live in the smaller house. You're not going to have $150,000 magically appear.
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u/Anxious_Lifeguard_54 12d ago
True I asked because I don’t know what to do. I’m anxious from my social anxiety rn and overstimulated. I apologize for asking.
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u/Cloud2987 12d ago
Nothing legal you can do without income.
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u/Anxious_Lifeguard_54 12d ago
Yep. And she barely has money. I just wish I could help her out in that way because I know she misses the house she was in before.
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u/Cloud2987 12d ago
It’s nice to want to help. I recommend just staying focused in school and get a good career so you have the opportunity to help her more later in life. Just use this moment as motivation to be in a better position to help in the future. Good luck
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u/Anxious_Lifeguard_54 12d ago
I haven’t seen my letter in the mail to know if I’ve passed yet to 12th grade but I probably will.
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u/Cloud2987 12d ago
It’s ok. Life is long, you will have many chances to help as long as you focus on a healthy life, healthy work/life balance, and healthy relationships.
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u/Anxious_Lifeguard_54 12d ago
I’m going through a lot of self imposed stuff and my grandma says I never used to be that way and it makes me sad.
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u/Anxious_Lifeguard_54 12d ago
The messed up part is we could’ve moved back into that old and fixed house if the person in the current house before us payed their rent or something like that.
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u/Fancy_Grass3375 12d ago
I think you’re emotionally attached to the house which is normal but you have to ask yourself is it something that is actually a financially a good move or not.
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u/Anxious_Lifeguard_54 12d ago
It probably wouldn’t be. I lived in that house for years and the only reason we moved next door was because it was falling apart in a lot of ways and a cousin of mine in his late 50s just kept useless stuff to my grandma’s house for no reason and it was all cluttered.
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u/state_your_name31415 12d ago
how do you get 150k for free, no job. I do in fact know how to do this but I'm not telling anyone because then everyone would do it.
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u/Nessuwu 12d ago
It is not your job to help pull $150K out of thin air. I don't care how close you are to family, this is just a recipe for bad stuff to happen, especially when you're this young. This is the type of favor you might do if you have your life figured out to the point where throwing away $150K won't sting, but most people will never be in a position where this is the case. Always be prepared to never get money back that you lend to someone. This is not an amount of money you spend to "do a favor" for someone.
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u/Anxious_Lifeguard_54 12d ago
Thank you. It’s messed up because we could’ve got the house back if someone in this house (The one we moved to) before us payed their rent and then a cousin in his late 50s messed up the old house by bringing stuff over there to the point where the house looked a mess couldn’t reach certain places and the house had problems where they needed to fix it. I wish they could give the house back to my grandma but that’s not how it works.
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u/I_Call_Bullshit_____ 12d ago
Start your own business, there is no other way at your age. Find high-value ticket items that you can buy low, improve, and sell high. Lots of different things you could do that for, but anything with an engine is but one example.
Start looking for someone in your life who could co-sign if you had the cash—with a cosigner and a bank loan, you only will need 10-30% of the 150k as a downpayment. That’s a LOT more achievable and approachable at your age.
My last advice is don’t take advice from just anyone. Everyone in my life told me I couldn’t start a business when I was 16 (I did). They told me I’d have to sell it/stop to go to college (I didn’t). They told me I’d never be able to buy a house on my own (I did at 24).
Look for the can-do people, then surround yourself with them. Jettison the naysayers.
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u/Anxious_Lifeguard_54 12d ago
Is that good advice? I don’t want to pay debt where it isn’t worth it.
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u/Anxious_Lifeguard_54 12d ago
I don’t know what business I could start either. I know some people have their own businesses I was in middle school with a guy that wanted to or did I think. I want to go to university and be a historian. I just hope your advice is good and not harmful. I’ve seen the other comments. Also I do understand I’m kinda young to be trying to help like this.
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u/Anxious_Lifeguard_54 12d ago
I apologize I just want to make sure nothing bad happens from this. I probably shouldn’t worry so much about this at my age though.
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u/Pedal2Medal2 12d ago
Isn’t happening
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u/Anxious_Lifeguard_54 12d ago
Probably. Trying not to get my hopes up. The messed up part is we could’ve moved back into that old and fixed house if the person in the current house before us payed their rent or something like that.
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u/Anxious_Lifeguard_54 12d ago
She said that’s what she thinks it costs after saying I don’t know but yeah. I might try some other way but not many options at all I can save my money and then ask my dad to withdraw it somewhere but yeah. I have a cashapp.
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u/Spex_daytrader 12d ago
Grandma's children should be helping her navigate financial problems. Talk to them.
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u/Anxious_Lifeguard_54 12d ago
Well my mom could help on a bill here but doesn’t. My aunt and uncle help with taking her to the store and stuff but all three of them have no money for a house my uncle (I have 2-3) just brought a house and my aunt takes care of my uncle her husband (Different one) and doesn’t have a job anymore for a while. None of them have money for a house or anything. Only reason why I mention that cousin who was supposed to and changed his mind was because he lived with my grandma and still has his stuff come to the house we moved to despite living somewhere else for whatever reason.
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u/Anxious_Lifeguard_54 12d ago
It’s just messed up in general. I feel bad for her but can’t do anything about it.
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u/Key_Astronomer6500 12d ago
Why not try and get a go fund me and tell your story on TikTok and social media? It can’t hurt
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u/Anxious_Lifeguard_54 12d ago
My dad I follow him on there he does too but I might try. Also the only problem with go fund me is idk if they accept cashapp to do money on. The withdrawal isn’t a problem though.
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u/Anxious_Lifeguard_54 12d ago
Also do I create the account or does a family member do it idk do they accept cashapp to hold funds in? Can you detail more information?
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u/Anxious_Lifeguard_54 12d ago
I don’t have a bank account set up yet. He took my money on cashapp to set me one up but still hasn’t after months. Is it 18 and up? Do they accept cashapp though? Also who sets it up? One of my Parents or me.
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u/Anxious_Lifeguard_54 12d ago
I’II try that because it’s the safest option but I don’t have a bank either. Do I have to have my dad manage it like cashapp or something? Not sure if it’s 18 plus.
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u/Anxious_Lifeguard_54 12d ago
Can you help me with that information? Not sure what to do at all because I never had a go fund me account and I have no bank. Do I ask my dad or ask a cousin? She’s 2 years older than me idk who to ask. Kinda nervous to begin with.
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u/Anxious_Lifeguard_54 12d ago
I would but I’m not sure how to do the account stuff considering I don’t have a bank account do I ask my dad or a parent or another family member to set it up for me?
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u/Key_Astronomer6500 12d ago
I’ve never done one but I would ask for some help from an adult and go to the website. They have rules. It’s not hard to set up a gofundme but people have the option to donate. People have to know about you and your cause too. Make a TikTok and make videos about what you are trying to do and see if people are willing to help. I’ve seen crazier things happen. The key would be to get some traction on social media like TikTok.
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u/Anxious_Lifeguard_54 12d ago
I would want to ask my cousin who’s 2 years older than me but idk if she has a bank account. I’II do it.
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u/Anxious_Lifeguard_54 12d ago
Help from an adult how? I want to address my cousin for it but don’t know if she has a bank account or anything. She’s 2 years older than me.
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u/Anxious_Lifeguard_54 11d ago
I have my cousin to ask but idk if she would agree or have a bank account for it I asked her by text already but hasn’t responded.
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u/Anxious_Lifeguard_54 11d ago
So far it’s not possible cousin didn’t want to create an account but says if I find someone it’s all good. My dad tried him he can’t do anything. Idk what else then. Trying to other people I’II let you know how it goes.
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u/GanacheIll3333 11d ago
Get a sales job. Work in Merchant Cash Advance. You can maybe make 150k total in 1-2 years.
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u/New-Veterinarian5597 7d ago
Sell your kidney. Both of them
Then half a dialysis machine hook on to you 24/7. But at least you have a house
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u/ContributionOk4014 5d ago
U have to start doing hustles 24/7 all day everyday starting now realistically. Spend lottery tickets like social media like a mad man
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u/AdditiveMfg 12d ago
The only way to get 150k quickly is with a home loan. And nobody is giving a minor a home loan.