College is one of the largest expenses through the course of your child???s life. It is also one of the main causes of debt in America. With today's rates of inflation, it is very hard to save for an event that will occur eighteen years down the road. However, capitalistic America has provided many ways to send your child to college without paying a single red cent. Below you will discover just how easy it is to reach financial freedom.
Property near college campuses has always been a prime investment arena. Now,it can be the key to funding your child's education. Three months before your son or daughter starts college, buy a well-maintained home within two to three miles from campus. When choosing a house, keep the following in mind.
- Make sure the home has at least four bedrooms. This creates a maximum rental and sell value.
- Take out the largest mortgage possible.
- Furnish the home from second-hand stores. (College student's aren't too picky. To find out, ask your nearest mother : )
Make your son or daughter the property manager of your rental property.
Making your child the property manager allows you to reap tax and business benefits, while also teaching your student about the business world. You could easily pay your child a small stipend to handle the responsibilities of a property manager. These include:
* collecting rent
* inspecting the property weekly for cleanliness and damage
* renting the property when there is a vacancy
* contracting any repair work that is needed
* reporting to you on the property's financial and physical condition
The salary you pay your child for being the property managemer is tax deductible. This deduction can go towards your student's books, supplies, or food expenses.
Save on gas money when visiting your child. Another perk to owning rental property is that you are allowed a tax deduction twice per year in order to inspect any out-of-town property. The primary purpose of your trip must be inspection and maintenance of your property. However, visiting your child may be a secondary purpose. Be sure to document all trips and their purpose.
Use the real estate Tax Deductions to generate extra cash.
The depreciation deductions you claim each year on your rental property give you immediate cash, which can be used toward college expenses.
Finally, your child has graduated and its time to sell your property. Use the profits from your investment to pay off your loans. At 8% per year appreciation, the property will be worth $ 20,000 - $40,000 more at the end of four years, depending on the original price.
Because housing in college areas is in very high demand, your property???s value should increase substantially. The best and easiest way to sell your property is to list it in the school and city newspapers with an ad that reads : Send your child to college free. Call me for details!??? Most likely, you will recieve calls in the first day or so. Inform your prospects of how rental property can finance their child's education. This key strategy will enable you to pay off any pending loans and leave your college student debt-free!
Alli Ross is the webmaster at the baby names box - Where you can explore over 6,000 baby names and their meanings. Sub-categories include Disney ,J.R. Tolkien names, Fantasy and Folklore names, and many names from the literary classics. Read articles ranging from parenting and family to home and gardening. Be sure to say hi to GranMamma!
no-contract cleaning service Mundelein ..As a parent there are lots of things that you... Read More
Speaking as a Michael (a Hebrew name, meaning "Who is... Read More
When your child shows signs of potty training readiness, it's... Read More
One of the questions I ask in parenting presentations is... Read More
When we consider that the word allowance means, "allowing for,"... Read More
Often I will hear parents say, "I just ignore Jr.... Read More
You do what you can to keep your little ones... Read More
Often, the struggle at dinnertime with your picky eater is... Read More
The Greatest Gifts in Life, which are always created for... Read More
Libraries offer more than books. They are places of learning... Read More
There's a phrase that's become popular over the past few... Read More
Most people have more training before they receive their driver's... Read More
Why Is Spending Time with Your Child So Important?For children... Read More
The wonderful adaptability of children in dealing with the challenges... Read More
Parents are in a unique position to "monitor" their children's... Read More
They Spur Members To Grow EmotionallyTatiana Tannenbaum grappled with a... Read More
All children will likely have many different health problems during... Read More
There's a new trend for party entertainment. It seems as... Read More
You are sitting with the professionals who know about learning... Read More
Think back to your own childhood. Chances are, some of... Read More
Saying no to our children is not always easy or... Read More
Moms, did you ever question your value as a role... Read More
Last night Tom's daughter, Sue, came out of her room... Read More
Information is gold when you are adopted. Every tiny piece... Read More
Nothing touches the heartstrings of a parent more than the... Read More
maid service near Glenview ..A tall, weary-looking mother with glasses, walked into my counseling... Read More
You send your child to school and the teachers teach... Read More
Should a parent give a child a tangible reward when... Read More
Home schooling. What is it? What does it mean to... Read More
At age seven months in the womb, humans begin language... Read More
Despite the potentially dangerous side-effects of Ritalin, public school authorities... Read More
As with everything, names go through cycles of change with... Read More
Many people still think that the game of chess is... Read More
According to researchers, most children enter school with a good... Read More
Emotional OverloadMany single parents say they deal with a variety... Read More
Sitterphobe "I never have a second to myself," this mother... Read More
Even as a busy parent, I'm sure you've seen a... Read More
Do you have a consistent problem with your child lying... Read More
I remember when my daughter was born, later my son.... Read More
So your little Susie wants to join a competitive gymnastic... Read More
I look out of the window as I am writing... Read More
Individualism is a common thing in today's modern society. Many... Read More
One of the most difficult struggles in life for a... Read More
How on earth can you help your family cope with... Read More
A while ago I received this story from David in... Read More
Parents looking for a quick fix usually choose troubled teen... Read More
"Home Schooling ? Look Before You Leap"Are you considering home... Read More
"My son won't go to bed at night without a... Read More
School authorities often complain that classes are too large. They... Read More
There is a new stage of development for parents to... Read More
Parenting |