Buying houses with your kids in Red Deer

If you purchase a house with your 18+ child on title, giving them half of the ownership/title, you’d be able to purchase a legally suited house for 5% down instead of 20% down.
They would have to live there, so even if its not quite time yet, you could save this strategy for later.

There are many benefits to this!
1. You’re buying a rental for 5% down! Yes YOU only get half, but normally even half a house costs you 10% if you buy with 20% down.
2. Transfer of wealth when you die. There’s no estate tax paid when the ownership transfers to full title in your child’s name! Bryce’s Dad bought him a suited house this way when he was 18 and Bryce owns the full title now.
3. You can have your child manage the property for you since he will be living there.
4. The tax write offs are still the same; you’ll pay little to no tax on the cash flow.
5. You get 4X more leverage using 95% of the banks money instead of 20% of your money.
6. You’ll have a higher Return on Investment because you’ll have less invested.
7. You’ll have a 15% slush fund to pull from for emergencies (or if you want to go on a vacation.).
8. You can get 4 rentals this way instead of just 1 for 20% down.
9. You’re building a legacy for the next generations.
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Bryce/Penny Kander