Miami Beach Condos: Want a Job? Become a Landlord

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Tom Lauricella
For retirees calling it quits from the 9-to-5 world, it might be worth considering another career move: landlord.Changing light bulbs may not fit with the traditional image of retirement. But the strategy can kill several birds with one stone, especially for retirees who buy a small multi-family building, live in it and manage it at the same time.Done thoughtfully, owning and living in a multi-family house can provide a relatively predictable stream of income, the potential for long-term price appreciation of the property and, of course, a roof over your head. It could hold particular appeal for retirees against a backdrop of uncertain prospects for stocks and government bonds and meager interest rates on savings accounts.There’s also the potential to provide something harder to quantify for retirees who have difficulties walking away from a full-time job: a challenge, a purpose and an opportunity for accomplishment.”Unlike things like commodities or hedge funds, where the advice is, ‘Don’t try this at home,’ buying a multi-family property is something you can try at home,” says Lawrence Glazer, a managing partner at Mayflower Advisors in Boston.Of course, real estate isn’t an investment, like a stock, for which you can just click “buy” and not be responsible for whether it is worth more in five years. Upkeep and business decisions will be on your shoulders.”I equate it with having a kid,” says William Procida, a veteran real-estate investor based in Englewood Cliffs, N.J. “You’ve got to wake it up, feed it, clothe it and put it to bed at night.”

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About Pamela's Blog

Pamela Diaz-de-Leon With an accomplished background encompassing Diplomacy, Architecture, Business and Film, Pamela Diaz-de-Leon brings to the real estate industry the entrepreneurial expertise which stem from her interdisciplinary experience. Her world wide network of distinguished personalities carefully knitted of relationships formed in her five years as the Cultural Attaché for the Instituto Cervantes, serving the King of Spain, in Chicago, and her Hollywood connections acquired while working with a recognized film distributor, give her the global platform in which she has developed her business with great success. Knowledgeable, informed and organized she holds ethics and integrity as her highest values thus, providing her customers with an excellence of service that ensures their utmost satisfaction and their continued loyalty to her work. Office. 305.677.5055 Cell. 305.720.8439
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