My kids are only three and one, and I want to give them the world—which is exactly why I am investing in real estate.
Combine that with a few rental properties, and you will have tuition paid for in no time.
If your child’s after-school activities are costing you a few hundred bucks a month, a rental property could be a great way to cover, or at least help out with, these expenses.
Check with an accountant and/or a lawyer on the best ways to transfer business funds into your personal account.
Offset family vacation costs.
Again, I personally would reinvest this money back into the business, but if you want to splurge on travel, real estate can give you that option.
If you are a parent who wants your child to have a job when they’re old enough to work, the perfect opportunity might be working in the family real estate business!
After school is an ideal time for them to take 30 minutes to an hour to go get your vacation rental ready—and it’s conveniently around the same time check-ins start.
Not only will they see the income versus expenses, but they will learn the valuable lesson of reconciling books at the end of every month.
What strategies do you use to help pay your family’s expenses with real estate?