“When each of them graduate I would turn over the deed to the property and they could use the income to pay off their student loans.”
So this means you would encumber them with properties and turn them into landlords half way across the country. What if they want to focus on their careers after spending all that time studying and now playing landlord to a home in Indiana. What if there is a vacancy, who pays the mortgage? If it goes negative will they go further into debt?
If I were a fresh graduate I don’t think I’d want to deal with a property barely spinning off any cash flow half way across the country. I’d rather focus on work and pay off my own loans.
Heck, if I were them I would just SELL it since you gave them the deed, and use the proceeds to pay off the loans faster.
Buy the home in Murrieta, and start focusing on saving for college and retirement. Or tell your kids now they are on their own for college and get them to start saving!
