[quote=no_such_reality]I’ll go with Flu’s mortgage thru Bank of Parent idea.
Daughter lives in a better place cheaper, Dad keeps interest, daughter get’s equity upside. Equity downside, daughter get’s Dad showing the landlord ropes when they turn it into a rental.
Don’t quote me, but I think you could structure the mortgage through an LLC, bundle the payments to you as either retained earnings or dividends and then write off of taxes two trips a year to ‘check’ on your investment target market.
Not sure how many wins that is for you and daughter’s family but it looks like a lot.[/quote]
If there was a way to have my toddler be a landlord without raising all sorts of flags via Mr. Taxman, I would have already done it.
Remember, the game isn’t always about how to get the maximum returns right now…Part of the game is to figure out how you can pass on stuff to your heirs without Mr. Government wanting decimate it…Since everyone else expects you to take care of them, you might as well take care of one of your own first.
The note MUST be official… For all sorts of reasons. From Mr. Taxman…to also the case in which IF your daughter (if she is married) gets a divorce.Sorry, not to sound pessimistic here.But the last thing you want is for the her significant other to split 50/50 with the property, but your daughter to get stuck with the loan 100% or worse, you just forgive the loan. Speaking of loan forgiveness, I wonder what sort of games one can play with that….
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[quote]
Don’t quote me, but I think you could structure the mortgage through an LLC, bundle the payments to you as either retained earnings or dividends and then write off of taxes two trips a year to ‘check’ on your investment target market.
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Whoa… Wait a minute there. Can you explain this to a layman like me… Say what?
