What's the Best Way to Sell a House to Pay Tuition

[Berish Edelman]

Hey y'all. Finishing up on a flip and the plan is to use the proceeds to cover a good chunk of our kid's tuition bill. Trying to figure out the best way to set it up to avoid taxes as much as possible.

If we just give the house to the school, and then sell it 'for them' (obviously with a written agreement that our costs will be covered by the proceeds), with the profit counting against our tuition, does that help us maximize the amount of tuition we'd be paying off?

Thanks!

[Elaine Gee]

Hi

That’s a great question. I did brrr a few time to pay off my 2 girls Cornell tuitions. Both graduated with no student loans and we didn’t have to dip into our savings. Not sure if that was possible without brrrr method. If you have any questions, reach out to me. Kids are very expensive, lol.