Hi all,
Hypothetical - Mum & Dad have three kids (16, 18 & 21 - all studying). They want to give them a foot up by buying an IP for each (one this year, one next, one the year after).
Parents would buy the property now, rent it out and let the applicable child move in or continue to rent it out (the child could rent elsewhere if desired and have it as their first IP) when they are able to comfortably service and take over the loans.
If there's a post where this has been discussed could someone post the link (i've searched without any luck)? If not...which way would you do it?
Thanks again everyone
Hypothetical - Mum & Dad have three kids (16, 18 & 21 - all studying). They want to give them a foot up by buying an IP for each (one this year, one next, one the year after).
Parents would buy the property now, rent it out and let the applicable child move in or continue to rent it out (the child could rent elsewhere if desired and have it as their first IP) when they are able to comfortably service and take over the loans.
If there's a post where this has been discussed could someone post the link (i've searched without any luck)? If not...which way would you do it?
Thanks again everyone