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Do you think prices will keep rising?

Q: I want to give my 21-year-old daughter the money to buy a condo to live in. Do you think prices will keep rising?

A: I think it is a great idea. It does not matter about “prices rising.” It is a multi-purpose asset.

She will always be able to live there, rent it out for income or grow tomatoes on the balcony. A tenant will pay it off for her, and by the time she is 40 she will have that rental income forever. However, as for you giving her the money … I would do it only by way of a family trust. You make the decisions, but it will be hers at 40 or so. Unfortunately, I have seen a lot of families fall apart over improperly structured real estate deals … or understanding each other’s obligations and rights.

About Ozzie Jurock

OZZIE JUROCK (FRI) is the author of Forget About Location, Location, Location. Ozzie Jurock is also president of Jurock Publishing Ltd. Peter C. Newman in his book Titans called him a Real Estate Guru. Vancouver Magazine called him one of the 45 brightest people in Vancouver. Ozzie Jurock appears every 2nd Wednesday on Global TV News Hour. He also authored the book: Forget About Location, Location, Location and has written hundreds of published real estate articles in the Vancouver Sun, Business in Vancouver, the Globe and Mail, the Western Investor and dozens of magazines. (List of published articles.) Several thousand people have subscribed to his monthly and weekly newsletters Jurock Real Estate Insider and Jurock's Facts by Email.

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