Property for Grandchild / Children

[Bernie Huckestein]

I will be a first time and new Grandfather early summer 2018 -- stoked about that for sure!!

I'd like to purchase a 1 - 4 unit right after birth on behalf of the child...when he/she graduates from high school he/she would have this property free and clear...could then leverage it for more investment, keep renting it and enjoy the cash flow, sell it to pay for college...whatever.

What is the best way to proceed with this so that I maintain control for approx 18 years but then pass it on...what about taxes for the 18 years...how to transfer the property or is it titled to and infant?

I am sure I am not the first one to do this...appreciate the ideas on the best way to set this up and manage.

Thanks, b