Idaho Foreclosures and Short Sales to fund college?

522844 — Sun, 04 May 2008 20:12:00 GMT

Parents and grandparents please, please read this carefully. I have written about this in the past and advised many indivuduals. I think it is time to write about this again. Those I mentioned this to a few years ago and put the idea to practice are well on their way to funding a wonderful education for their children or grandchildren.

The timing for this idea has never been better and getting better every day. What I am talking about is an idea I heard about a few years ago. It is very simple: Buy a home when your child or grandchild is born or up to 2 years of age and pay it off in 15 years by putting it on a 15 year mortgage. Rent the home out and 15 plus years later deed the home over to your child or grandchild. The child can then continue to rent out a free and clear home to fund their education or sell the home and have a sizeable amout of money to fund a great education at just about any college or university in the country.

The home becomes a tax write-off for you and since your child or grandchild is in a much lower tax bracket, the tax consequence is minimal for them. The reason I say timing has never been better to implement this idea is because of the high number of Idaho Short Sales and Idaho Foreclosures. In many parts of the country just like Idaho one can realistically purchase a home at 70, 80 or 90 percent of real market value.

Look at a real estate value graph that tracks real estate values over time and you can see there are always corrections and plateaus but real estate always goes up in value over a 10, 15 and 20 year time frame and has never failed to do so. It is very feasable that if this Idaho Real Estate market turns around in the next year or two Idaho Real Estate values could begin appreciating rapidly. It is very possible that if you purchased a home today you could see the property double or triple in value in 15 years.

Most Idaho Foreclosures and Idaho Short Sales can be found at Southwest Idaho Real Estate Search. You can give your child or grandchild a lot of things but they will never forget the quality college education you made possible for them.

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Idaho Foreclosures and Short Sales to fund college?