gcgang
Thinks s/he gets paid by the post
- Joined
- Sep 16, 2012
- Messages
- 1,571
Please direct me to thread if this has been covered, but...
Daughter at college. Talking about buying house, she would live there and be landlord for 2 roommates. Told me she’d make $1400/mo with an $835 mortgage payment.
Several thoughts / questions come to mind:
1). Should I simply own in my name, or should I set up some sort of company (LLC)?
2). I’ve got enough “spare” cash so probably wouldn’t get a mortgage.
3). I assume there are still deductible expenses/depreciation for furniture and upkeep.
4). Would probably sell in 2-3 years.
5). I’m not really looking to make money, but see it as a way to interact with my daughter on finances.
I’d appreciate any thoughts of those of you who have experience in this area, especially pointing out things I may not be considering.
Daughter at college. Talking about buying house, she would live there and be landlord for 2 roommates. Told me she’d make $1400/mo with an $835 mortgage payment.
Several thoughts / questions come to mind:
1). Should I simply own in my name, or should I set up some sort of company (LLC)?
2). I’ve got enough “spare” cash so probably wouldn’t get a mortgage.
3). I assume there are still deductible expenses/depreciation for furniture and upkeep.
4). Would probably sell in 2-3 years.
5). I’m not really looking to make money, but see it as a way to interact with my daughter on finances.
I’d appreciate any thoughts of those of you who have experience in this area, especially pointing out things I may not be considering.