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Building Real Estate Wealth For Your Kids
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There are three simple ways to start building real estate wealth early with your children.
In this informative episode, Jennifer and realtor Kathy Crosby discuss these three strategies in more detail, offering valuable insights for your real estate journey with your children.
The first strategy is to buy a rental property when your kids are born and let it appreciate in value over 18 years. When they go to college, you can sell the property and use the profit to pay for their education.
The second strategy involves selling the property to your young adult child at a reduced price through a gift of equity. This helps them get started in the real estate market.
Lastly, you can purchase a home near the college your child attends, preferably with at least three bedrooms for potential roommates. The rental income from their friends can help cover the mortgage expenses.
In this episode, you’ll also hear:
- Rental cash flow you should look for
- How appreciation works
- Cash out refinance when your kid turns 18
Must-listen moments:
[00:02:45] Strategy #1. Buy, hold then sell
[00:08:16] Strategy #2. Sell the property to your kid
[00:11:28] Strategy #3. Buy a property when your kid is in college
[00:12:28] How to build your kid’s credit score
To contact us visit www.loanwithjen.com
Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
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