Getting a late start at rentals

[Dawn Burwell]

I am 50 , single, no kids. just forced onto SS disability. There is no way I can live on 800 a month from SSDI. NOone will rent to me. I’m positive I can’t afford it anyway.

So... what I do have is good credit. Currently living with a widowed mother. ( it’s rough- we don’t like each other despite the love ) so other than car insurance/ food. I have no expenses. BUT I need out !

I’ve decided to buy a multi family and live in a unit. Rent to myself ! :)

Here’s my question... at this late in life: can I excel at being a landlord? What is the best approach for someone with limited income ( and looking out of state) ? What price range could someone in my position afford ? Will my current income really matter? Would it be smart to get a place near a military base ? Or a beach ? Or out in the country which tends to be less expensive ?

I’m scared. I’m worried I may get In over my head. I’m also excited and determined to thrive despite being on disability. I have no retirement and I’m afraid I may be too late.

Any advice or shared experience for hope would be greatly appreciated.

Ps. I’m in Pennsylvania. I would like to go back home to eastern NC. But would consider other areas near water.

[Niels Bjørn Toppenberg]

@Dawn Burwell - I agree with Marc it is never too late :)
Do you have any savings or wealthy relatives that might lend to you?