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The salary you pay your child for being
property managemer is tax deductible. This deduction can go towards your student’s books, supplies, or food expenses.
Save on gas money when visiting your child. Another perk to owning rental property is that you are allowed a tax deduction twice per year in order to inspect any out-of-town property. The primary purpose of your trip must be inspection and maintenance of your property. However, visiting your child may be a secondary purpose. Be sure to document all trips and their purpose.
Use
real estate Tax Deductions to generate extra cash.
The depreciation deductions you claim each year on your rental property give you immediate cash, which can be used toward college expenses.
Finally, your child has graduated and its time to sell your property. Use
profits from your investment to pay off your loans. At 8% per year appreciation,
property will be worth $ 20,000 - $40,000 more at
end of four years, depending on
original price.
Because housing in college areas is in very high demand, your property’s value should increase substantially. The best and easiest way to sell your property is to list it in
school and city newspapers with an ad that reads : “Send your child to college free. Call me for details!” Most likely, you will recieve calls in
first day or so. Inform your prospects of how rental property can finance their child’s education. This key strategy will enable you to pay off any pending loans and leave your college student debt-free!

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