So your children are getting to the age that they are looking to head to university for the first time. They are leaving the nest and going to live and experience life on their own.
Did you know….??
To create some cash flow for yourself and create equity for the next 4 years while they are in school, purchasing a home for your child heading to university may be an option for you:
- 5% down payment
- Cash flow and not pay down someone else’s mortgage
- Help offset the cost of University
- Safe environment for your child
When You Become The Landlord:
- Regular monthly income with positive cash flow from the property… could be paying your mortgage
- With each mortgage payment, the equity grows in the property adding to the bottom-line of your Net Worth Statement
- They aren’t making any more land and property values may likely be more stable than the stock market which can go up and down like a yoyo daily!
- When the market value of the property increases, you can benefit from the equity growth adding to the bottom-line of your Net Worth Statement
- Forced savings plan – having your savings or assets “tied up” in real estate means that you can’t easily access them avoiding any sudden decisions to liquidate or spend!
- You can deduct certain expenses from your income potentially reducing the tax you pay such as your initial closing costs, mortgage interest, property taxes, insurance, maintenance, upgrades, property management, utilities etc.
- If you do have losses from your rental property due to some large expenditures one year, it can create some instant tax relief and reduce your tax bill
- Long term sustainable wealth growth using a fixed asset – real estate
There are many resources available to assist you as a landlord and as a specialist in this area, I can answer all your questions and provide you with recommendations that will best suit you! I can be reached at 519-760-4391 or firstname.lastname@example.org