All Forum Posts by: Lilian Gonzalez

Your kids won't be able to qualify, even if you gift them the DP and closing costs.  To give any gift above like $15k in 1 calendar year, you'd need to fill out a special form to not get slammed with gift taxes. 

I doubt buying a house for them is a financially good idea unless it makes sense as a true investment where you buy it below market value and it pencils out factoring in all expenses.   

Buying with an LLC will just limit your borrowing options to higher rate, higher risk commercial and DSCR loans.

I'd have my kids live at home the 1st 2 years while they attend a local community College, then transfer to a state 4 yr school.   Good luck!

Your kids won't be able to qualify, even if you gift them the DP and closing costs.  To give any gift above like $15k in 1 calendar year, you'd need to fill out a special form to not get slammed with gift taxes. 

I doubt buying a house for them is a financially good idea unless it makes sense as a true investment where you buy it below market value and it pencils out factoring in all expenses.   

Buying with an LLC will just limit your borrowing options to higher rate, higher risk commercial and DSCR loans.

I'd have my kids live at home the 1st 2 years while they attend a local community College, then transfer to a state 4 yr school.   Good luck!

Purchasing assets in a child's name is a hassel and not nessisarily worth the additional risks. In the event that you own rental property and pass on the children will get the asset with a step up in baisis. No extra taxes to pay. Make sure the numbers make sense from an investment perspective. A short term investment while your children are in school may not work out. (or it might, just make sure you know the numbers)