Updated about 12 years ago on . Most recent reply
retired from real estate
just wondering how many of you have retired from real estate at a young age? how long did it take ?
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The thing with real estate is that it lends itself to not retiring from real estate, but to keep it going.
An attorney that I know had 30 some rentals and confided with me that he made more money from rentals than from the law firm. After he retired from the law firm, he still kept all of his rentals and when he passed, they went to his family, who have continues to rent them and continue their ownership legacy.
Some people get into real estate to provide for their retirement, so their goal is to keep the real estate not to jettison it.
They might turn the management over to somebody else, but since the properties are often debt free there is still a lot of cash generated and with very little or no work, a perfect arrangement for retirement.
And then there are the people addicted to real estate, who continue buying real estate longer after there is a need to do that.
And from my personal observation more people quit real estate long before they retire. They have a bad experience that dissuades them from continuing, or they make a mistake that makes them think is this worth it, or they just get tired of real estate. There is a tremendous turnover of real estate investors, and more people quit real estate, than hang in there until retirement.