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A College Degree or an MBA is NOT NEEDED to be “Financially Free”
Look at Forbes’ top 10 United States wealthiest people. Notice the top five “self made” billionaires (excludes the Waltons who’s net worth is due to inheritance) are college dropouts. If MBA/college degrees were the answer, this would not be true. ...
College Families Overpaid The IRS – Again!
College families who made their best guess as to which of the Education Tax Incentives would save them the most on their income taxes have put their 2004 tax returns to bed. However, for many, a sigh of relief may be a bit premature and...
Get A College Education Online
Nowadays everybody wants to get ahead in his career. For this many try to improve their educational qualifications so that they can have better job prospects and get a better salary slip. But alas this is not an easy task once you start working....
Online College Degree - The Choice Of Today
Online college degree programs are rapidly becoming the mode of learning education of choice among teens and young adults. Empirical evidence would suggest that there are five principal reasons why this may be the case:
Convenience
The Number 1...
Why College Degrees?
Formal education is one of those things that have become a part of our culture. It is nesecary and it is a prerequisites when applying for a job. Education to some extent, helps people get aquanted to and better experienced in the field which...
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Send Your Child to College FREE!
College is one of the largest expenses through the course of your child’s life. It is also one of the main causes of debt in America. With today’s rates of inflation, it is very hard to save for an event that will occur eighteen years down the road. However, capitalistic America has provided many ways to send your child to college without paying a single red cent. Below you will discover just how easy it is to reach financial freedom.
Property near college campuses has always been a prime investment arena. Now,it can be the key to funding your child’s education. Three months before your son or daughter starts college, buy a well-maintained home within two to three miles from campus. When choosing a house, keep the following in mind.
- Make sure the home has at least four bedrooms. This creates a maximum rental and sell value.
- Take out the largest mortgage possible.
- Furnish the home from second-hand stores. (College student’s aren’t too picky. To find out, ask your nearest mother : )
Make your son or daughter the property manager of your rental property.
Making your child the property manager allows you to reap tax and business benefits, while also teaching your student about the business world. You could easily pay your child a small stipend to handle the responsibilities of a property manager. These include:
* collecting rent
* inspecting the property weekly for cleanliness and damage
* renting the property when there is a vacancy
* contracting any repair work that is needed
* reporting to you on the property’s financial and physical condition
The salary you pay your child for being the 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 the 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 the profits from your investment to pay off your loans. At 8% per year appreciation, the property will be worth $ 20,000 - $40,000 more at the end of four years, depending on the 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 the 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 the 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!
About the Author
GranMamma is the webmaster at the Baby Names Box - http://www.babynamebox.com - Where you can explore over 6,000 baby names and their meanings. Sub-categories include Disney ,J.R. Tolkien names, Fantasy and Folklore names, and many names from the literary classics. Read articles ranging from parenting and family to home and gardening. Be sure to say hi to GranMamma!
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