The innovative concept of the “Kiddie Condo” could be the unique solution you’ve been searching for. This strategy, which combines the advantages of parents cosigning as non-occupant borrowers for their college kid with the potential for long-term investment, offers a fresh and distinct approach to securing your child’s education and financial stability, providing you with a sense of security about their future.
By cosigning on a mortgage for your child’s home, you can help them establish and build their credit history early, setting them up for a future of financial success, a prospect that fills every parent with hope.
Purchasing a property as an investment property provides housing for your child during college and offers the potential for appreciation and rental income, serving as a valuable long-term investment.
As property owners, you may be eligible for various tax deductions, such as mortgage interest, property taxes, and depreciation, which can help offset the costs associated with homeownership (consult with a tax advisor / CPA)
Unlike conventional student housing options, owning a condo grants you extensive control over the property. This control and flexibility empower you to tailor it to your child’s needs and rent out additional rooms to other students, opening up the possibility for extra income, giving you a sense of empowerment over your financial decisions.
Involving your child in the homeownership process teaches them valuable financial responsibility and real estate management lessons, setting them up for financial literacy.
We encourage you to take the next step by contacting The Toenjes Home Loan Team at Peoples Mortgage in Tempe, Arizona. Our experienced professionals can guide you through the process and help you secure a bright future for your child. With our expertise and personalized service, you can rest assured that you’re making the right investment decisions for your family’s financial well-being.
Justin Toenjes (ten-yes) is a highly accomplished finance professional with a strong background in mortgage banking and a passion for helping individuals achieve their financial goals.
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LO Licensing: Justin Toenjes, AZ LO-0912116 CA-DFPI167048 CO-100032832 FL-LO118111 ID-MLO-2080167048 NV-68467 TX NMLS-167048
Peoples Mortgage – 2055 E Centennial Cir, Tempe, AZ. 85284
LO Licensing: Kathi Alosi, AZ LO-0914249 NMLS-259189
Peoples Mortgage – 11201 N Tatum Blvd, Suite 140, Phoenix, AZ 85028
Company Licensing: Peoples Mortgage Company, A DBA of Moria Development, Inc. AZ 0904164 California – RMLA4130661, Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act : www.peoplesmortgage.com/privacy-policy CO, Regulated by the Division of Real Estate FL-MLD1223 ID – MBL-2080006274 NV-4200 TX peoplesmortgage.com/license NMLS-6274
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