Jason Duggar, who turns 17 in April, is entering the family real estate business!As most of you know, Jim Bob and Michelle Duggar have used real estate as a means to provide for their large family since early on in their marriage. They own a number of commercial and residential properties, many of which they rent out. Now that they have grown children with varied skill sets, they often purchase properties in need to work and hire their kids to help.
Jim Bob Duggar and Jason Duggar recently cosigned the deed to a fixer-upper house located 30 minutes from the Duggar family home. It is a single-family dwelling built in 1958 and has three bedrooms, two baths, and a total living area of approximately 2,000 square feet.
At $33,000, the Duggars got a great deal, but the house needs repairs. News of this purchase comes less than one year after Jana Duggar bought a commercial property that once held a tattoo parlor.
This story was just picked up by the tabloids, so we wanted to give you the facts, as we knew you would be wondering.
Photo courtesy duggarfamily.com
Wow! That's amazing..he is so young to buy a house... congrats to him!!
ReplyDeleteWell it's not like he himself bought the house. The money without a doubt comes from their business with TLC. But it's good to see him into into real estate like many in his family. The Duggars do not flaunt their money and I'm sure it's nice for them to be financially blessed. And I mean that in a good way!
DeleteHe could not do this on his own. His dad is the cosigner.
DeleteThat's because at 17 he can't even have a checking account by himself. I just had to be the adult on my 17yo high school graduate's account. In September, I will scoot right off that.
DeleteGood for him!
ReplyDeleteThat's awesome! Good for him! Invest early and it will pay off.
ReplyDeleteHow can a 16 yr. old "co-sign" a deed? As a minor, he can't sign anything. So Jim Bob bought it himself and put Jason's name on the deed? That's different from what you're stating, like he's become some sort of real estate tycoon at 16.
ReplyDeleteNot sure about the laws in your area but where I live my husband got a large loan ($15k) from a bank legally with no cosigner when he was 17. So yes it is plausible :-)
DeleteThis is not at all typical. I can't fathom a bank granting a loan to a 17 year old without a cosigner. Contracts signed by someone under the age of 18 are not binding.
DeleteNo mention by article author of the word Tycoon!
DeleteThis family is so wise to teach their children how to be independent, responsible citizens, and a lot of comments seem to be missing the point!
They've been in a hit TV show for many years, so I would guess they have been getting pay checks for all those years and have been wise in how they invested their earnings. How awesome for young people to learn lifelong skills like this family is teaching!!! Congratulations!
$33K could buy a college education for your kid, too. Something that would last his whole life.
ReplyDeleteYes!!! Then if HE HIMSELF desires something other than his fathers occupations, he could earn the degree of his choice and pursue it.
DeleteThe kids' refusals to work for (or own) something that isn't connected to their father somehow is beyond mysterious, into kind of impossible to explain logically.
DeleteJust because you have a degree doesn't guarantee you a job or career... this coming from someon3 that has a business management degree and isn't using it...
DeleteSorry but college is overrated. Getting into the trades is a great idea. Kids are burdened with college loans and can't even buy a home. This family is so right in many ways. Sadly most of America is a disaster.
DeleteYeah, I imagine this is something the Duggars do regularly for financial reasons. I doubt he has earned the money to do this. It's a tax thing.
ReplyDeleteConfused. Your title said that Jason bought a house, but it was actually Jason and Jim Bob? It also insinuated that Jason will be hired by Jim Bob? I was hoping this would be about Jason gaining some independence and renting out this place himself
ReplyDeleteThat's awesome! With Gods grace and their hard work they will have a great means of providing for their own families one day.
ReplyDeleteYeah, but maybe at this young age it would be better if they went to school and maybe did a bit of waitressing, if they wanted to gain a few dollars...
DeleteAre you kidding? This kid is gaining invaluable career and life skills, through an avenue that nearly all wealthy people are involved in and can set this kid up for life at such a young age and your suggestion is maybe he should do some waitressing instead? I would have loved such an opportunity this kid is getting instead of working at KFC or retail as I had done when I was his age.
DeleteWow, I really wish my daughter could meet a young man, that was raised like those young men, wish she could meet one of them....I love this family!
ReplyDeleteI think it's great that he is learning to manage his money as well as gaining business experience. However, I personally think teacher our kids not to borrow at all if possible is great. If you can make payments to a bank you can make payments to a savings account. This is true especially if your still living at home. I recently bought a property for $33,000 and didn't borrow a dime to purchase thus no interest. It can't always be done but it's great when you can.
ReplyDeleteThat's a great ideology, but is not possible with a majority of people. My husband and I have both been working for 40+ years and have just barely made ends meet. My two daughters never complained, but I always wished I could have been able to give them more. If I hadn't been able to have credit and payment plans, my family wouldn't have amhad anything! Groceries, clothes, school supplies, shoes - nothing! So while that idea is nice if you have the money to support it, it's not always possible.
DeleteThey didn't cosign a loan they consigned the deed.
DeleteYes, it's a great idea and works for some, but not for many.
DeleteWay to go Jason! Good start to a great business future!
ReplyDeleteGood for him.
ReplyDeleteThat is so great! Wonderful that they are sharing their skills with their kids!
ReplyDeleteThat's wonderful! I'm glad the Duggars are still in the real estate business. Especially since some people think all they do is sit at home collecting checks from TLC!
ReplyDeleteI'm proud of what Jason has done. He's going to turn that house from a home that needs a lot of work to a move-in ready home. I can't wait to see the finished product.
ReplyDeleteThat's really neat, I'd like to pick up a real estate license at some point after finishing my business degree and going to trade school for carpentry. Wish you all the best Mr. Jason, it's a very competitive business.
ReplyDeleteGood for you Jason! I can't believe he is turning 17 already. It seems it was only yesterday he was a little one.😊
ReplyDeleteCongratulations!
Way To Go Jason!! Praying this will be just the first of many profitable investments for you!
ReplyDeleteMy husband abandoned me early last year. Although I did all I could to get on my feet, I was unable to do so and have been homeless ever since. It has only been in recent days that I was able to rent a small room in someone's house for shelter during the winter. As I read your post, I wished someone had taught me the tools needed to buy a home... it would have made a huge difference in my life. Good job, young man. God bless you and your lovely family.
ReplyDeleteI'm so sorry to hear and am praying you get on your feet soon. God bless you!
DeleteWhat will a 17 year old do with a home? Flip it? Certainly his parents will not allow him to live in it. Maybe, the should have invested the $33,000 in a college education for him.
ReplyDeleteAgree. Wasn't it Jesus who taught his apostles to fish?
DeleteWell, that depends on how you define "fish". ;) A number of the disciples were already fishermen by trade, and Jesus actually called them away from that trade to become "fishers of men."
DeleteAnd yes, I think he is planning on flipping the house. So if all goes well, he'll get that money back plus some! Which he can then choose to invest as he wishes.
He's going to fix it up and then sell it. Maybe if he desires to go to college he can use the money from the sale of the house.
DeleteWell done young Jason!
Actually Jesus was more concerned about His apostles being fishers of men. Matthew 4:19 and Mark 1:17
DeleteFlip it, buy another, flip that, buy another, flip that, and so on...
DeleteGood response anonymous 5:50PM :)
DeleteIt would be great if it was fixed up for Jessa and Ben with another baby on the way. The current residence is so tiny.
ReplyDeleteI agree. Jessa should be helped out more. She will be having another child real soon. What about the other older kids too ? What did they get? Does Joe have a home? Why did Jessa receive such a tiny home when the parents knew she had the same views as Jill to have a large family? And I do believe at 17 you are too young to purchase a home. And if you do why have your parents on the deed? Why? If something happens to him....does the parents then own it? Am just wondering.......
DeleteI have a cousin who married her high school sweet heart after she graduated after college . Her husband was given a home after his high school graduation that his parent bought for him and they rented out until he married. Why did Jim need to put his name on the home? Is he doing this to all his kids?
DeleteBecause Jill married first.I'm happy for Jason
DeleteLow cost housing! $33,000!! Between Niagara Falls and Toronto, in Hamilton, Ontario, we just viewed a 1958 single family home, 3 bedroom, 2 bathrooms, 1,400 sq. ft., on a busy street, in need of repairs, for $350,000.00. I think I want to move to Arkansas. Congrats Jason on the fine purchase.
ReplyDeleteNo you don't because the low cost of houses is because of a depressed economy in the area.
DeleteBefore you make a move, I suggest you check out the job prospects, potential salaries, and quality of the public schools in Arkansas.
DeleteThe GTA is extremely overpriced. Consider Chatham region or near Owen Sound or anywhere in northern Ontario. You are looking to live in one of the densest populations in Canada. The Duggars live in a rural setting. Kind of like small town Saskatchewan or New Brunswick.
DeleteWell, if you have a job that doesn't depend on the local economy, living in an area with low cost housing is a fantastic idea.
DeleteThat is amazing, good for Jason.... Never hurts to start and learn at a early age.... I wish him luck....
ReplyDeleteA minor cannot be bound by a legal contract. Jason is a minor. There is more to this story than what is written here. All the kids older than Jason are of the age of majority and maybe this is the reason Jason is now a "homeowner". Jim Bob still has legal control over Jason
ReplyDeleteSad. I thought the same thing.
DeleteI was just wondering. Isn't the Duggars a third generation of real estate agents or is it the 4? So they are into making money. Are any of the kids having a desire to follow in their parents foot steps? Or are they just turning their money to their father who does the investing ? How does that work?
Deletethank you for always reporting the facts! i must have missed jana's news on her house. is she still working on it? i'd love to see her progress. she's so good at decorating!
ReplyDeleteIt's a commercial property or building.
DeleteThanks for the post. I'm so tired of seeing headlines about how crooked the family is or shocking revelations from a close family friend. Rubbish!
ReplyDeleteI come here for the voice of truth and reason.
I would love to know what Jana is doing with the commercial property? I think she would make a great interior decorator☺. To have her own businedd with a business of staging houses up for sale.
ReplyDeleteGood experience and lessons at a young age. Understanding how to make good business decisions young should provide more success later.
ReplyDeleteGlad his parents helped as cosigner to start building his credit.
My parents were helped out when they purchased their home but Randolph did not put name on the house. He just gave them a gift of money. What Jim Bob did, I Was wondering is this what most people do?
DeleteCongratulations Jason! I am happy for you. Enjoy your new adventure at your young age. It will be a big project but it is something that you have done before with your family. I am sure that you will have lots of good help.
ReplyDeleteWhy wasn't Josh given a fixer upper? Or Jill? Just wondering....Is there favorites in this family? Wasn't Josh given his own business too? Poor Jessa. Poor Jinger.
DeleteI just love the Duggar family! Wish I had been one of their daughters and I have a "J" name, Jennifer. Congratulations Jason!
ReplyDeleteI would do exactly the same if I had the money, owning a house is always a good investment.
ReplyDeleteNot sure about the validity of this report as he is not old enough to enter into a legal contract to purchase since he is not 18 nor, to the best of public knowledge, an emancipated minor.
ReplyDeleteThat's why his father cosigned.
DeleteLilly and Elly only post facts. They are not like the tabloids. He didn't buy it himself, Jim Bob cosigned for him.
DeleteEvery state is different.different . plus if you read it Jim Bob cosigned it for him. Jason not liveing in the house he just fixing it up and going to sell it.
DeleteCo-signer implies Jason signed the contract also. Legally he isn't old enough to do that. Jim Bob had to be the one to actually purchase the property, and he probably just put the deed in Jason's name, which is entirely different than cosigning.
DeleteAre all the Duggar boys into the construction business ? Does any of them want a college degree? Are any of them real estate agents ? They could be making big money just in that alone as their parents are.
DeleteI'm not sure what that area of Arkansas is going to do with all those Duggar real estate "tycoons," if the area is so depressed that you can buy a house for practically the loose change you find in the sofa cushions. It's one thing to buy low...quite another to find a buyer willing to buy high when you go to sell.
DeleteGood for him!
ReplyDeleteWow that's amazing!!! Being smart with your money now, will make finances a breeze when you are older! Good job Jason
ReplyDeleteCongratulations Jason. Good luck with the house.
ReplyDeleteJoan,Marion and Marilyn
So once again, a Duggar swooped in and snatched up the property that someone lost or took a massive financial hit on. I don't see that as particularly commendable. This house was listed for much more originally. Why did the Duggars wait so long to make an offer, if they wanted it?
ReplyDeleteThat's called business. You try to get the best deal you can. That's why our economy works. It prevents people from selling things at ridiculous prices far beyond what they are worth. And people who have bought a house know that you never offer the asking price. You always go lower. In this case, it's a fixer upper, and it's quite possible that the house is in such disrepair that it truly is worth about $33,000.
DeleteKeep in mind that the other party had to accept their offer. It's not like they just said, "I know you're listing your home for $100,000" but I want to pay $33,000 for it, and you have to give it to me."
I agree, 3:16. They won't pay fair market price for anything.
Delete8:38, your "go lower" offer info is not always correct. Some markets (for instance, some places in California), you must bid above asking or you'll never get the property. And you certainly pay above tax appraisal price. That's common in many markets, not just the hot ones.
I agree with you Anin @8:38. We bought our home at a much lower price than the asking price and we are very happy with our new home. Our house in CA we accepted a much lower offer that we wanted because it was sold "as is". We didn't have the money to fix it up to get more money for it. We were very wise to buy this our at the price we paid.
DeleteLikewise,the Duggars were wise in spending the money they did and that is commendable!
You can't always go lower than the asking price. You are talking about a certain type of real estate market. Not all markets are like that. You don't seem to thoroughly understand real estate or "business."
Delete@3:16 PM -- Be the change you want to see in the world. Next time you're tempted to buy something on sale, insist on paying full price!
DeleteDo you always buy things full price, or do you wait until things are on sale?
DeleteThe only reason houses are "on sale" for that low is because something is drastically wrong with the economy or the houses or both. And then the vultures swoop in and pluck the juices.
DeleteReal estate is different than retail, 7:28 and 8:21. Your "40% off" sale at the department store can still be making a 40% profit for the retailer over what they paid for the merchandise. I seriously doubt the seller of that house paid less than 33K for it originally, or made any profit from the sale. He or she was probably forced to sell at that ridiculously low price due to the economy in the area. And there was a wealthy buyer, ready to take it. Take from the poor and give to the rich...is that in any way Biblical?
DeleteHow refreshing to see so many positive posts...Stay positive y'all, feels good to be nice...dud in it?
ReplyDeleteIs this the same kid who tried to explain what a cucumber was?
ReplyDeleteLOL!
DeleteThank you for a good chuckle!
DeleteHa ha ha. That's funny. You are right. I forgot all about that. These kids are so young. I hope they get smarter as they age. To sign with Jim Bob Duggar, I would not. He is too much into making easy money from what I can see. Do I dislike him. No. But my said Dad said never cosign with ANYONE. He was looking out for me.
DeleteI hope he fixes it up and donates it to Habitat for Humanity. What do millionaires need with another house?
ReplyDeleteWould be nice to see his house on the show and see it being fixed up. Congrats to Jason for being able to do this!
ReplyDeleteWith that amount of money this young man could have a higher education.
ReplyDeleteThere are so many people with college degrees broke and unemployed waiting for someone to hire them. College education is not the beginning and end of life! Learning a skill that can work for someone or yourself is the winner.
ReplyDeleteNot saying no to college, but there are other debt free options
Whatever the legal technicalities were.... good for him!
ReplyDeleteExcited for him! It's great having his Dad to learn from.
ReplyDeleteWhat a great real life learning tool!!! Can't think of a better way to learn about marketing, construction, etc. Etc. Etc. The thinose a lot of kids learn through books in highschool. Much more meaningful learning it in real life! Our local high school has a construction trades course where they build a house to sell
ReplyDeleteI think it would be amazing to see a Duggar / Bates wedding!!
ReplyDeleteIt looks to me like the next possible match could be Katie Bates and Jason Duggar. Any chance this could be a match? If not, I'll wait to see what happens with the little ones.. maybe future Isaiah and Johannah or Jackson and Addallee? It would be so sweet to see a Duggar Bates wedding.