somerset county: Sellstate Access Realty - Buying a Rental for Your Student
- 08/22/08 04:59 AM
There are many advantages to buying a property for a child who's in school. But, before you start looking for just the right rental, you may want to think about loaning your child the money so that he/she can buy a house. A friend of mine did this for his two daughters (same school, a year apart), they kept the house after graduation and found jobs in the area and stayed there. Eventually they did sell when getting married, and he was 'paid back'. Remember there are tax implications for owning rentals. First of all, you'll have to pay taxes on the … (0 comments)
There are many advantages to buying a property for a child who's in school. But, before you start looking for just the right rental, you may want to think about loaning your child the money so that he/she can buy a house. A friend of mine did this for his two daughters (same school, a year apart), they kept the house after graduation and found jobs in the area and stayed there. Eventually they did sell when getting married, and he was 'paid back'.;)
;)
