Buying a house for your child's university expense

[Daniel Mills]

I was listening to the podcast today and Brandon mentioned that he bought a four-plex for his daughter when she was born on a 15-year mortgage. the idea is by the time she graduates high school she will have a property free and clear and can use the equity to keep investing or pay for college. Yet, he said it was his house and he was going to pull out his money through a cash-out refi. I was wondering how to set this up. Is his daughter on the title. If not, How can she access the money when it is paid off. If only Brandon is on the title, he would have to pay a gift tax to give her the house, right? I want to do this when I have a kid but I was hoping someone could explain the particulars of how to do it.