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Updated over 4 years ago on . Most recent reply
Leverage rental portfolio to add to wife's income
I am thinking to leverage my rental portfolio to make income for my wife so that in couple of years she can get qualified for rental loans by herself. She is a stay at home mom taking care of our two kids. I do at 9-5 job and also make 6 figures plus gross rental income. Currently the properties are all on my name and loans as well.
I am thinking to add her name on the title of few existing and new properties and let her claim some/all income on the properties while filing tax returns. Just like how partners would do on a deal.
Do you think, this makes sense?
We file taxes jointly by the way.
If there is a better way, please let me know.
Thank you!