Retirees find second career as landlords

Some retirees have found the perfect second career: Landlord.

At a time when stock investments are uncertain and many homes are not selling, some retirees and near-retirees are keeping their money in rental property and banking on a steady second income.

“Real estate can be a wonderful asset to have in retirement, because when you have tenants, you have money coming in every month and, if you don’t have pensions, that’s important,” says Barbara Pietrowski, a Certified Financial Planner in Roanoke, Va. Just like any other aspect of real estate, the key to being a successful landlord is location, location, location.