Being a landlord is a great way to help you plan for retirement. Many landlords start out purchasing one or two properties to help bring in extra cash every month. Then they start buying more properties and turn this into their retirement plan.
But as many landlords start getting older, they realize that with all of their various properties, it has become a full-time job which keeps them from being able to do the things they want to do like traveling or spending more time with family.
Eventually, managing so many properties can become a burden on these landlords, especially if they have had lawsuits from their previous tenants. When you try to sell, taxes can also become an issue when owning and managing so many properties.
How Can Great Lakes Properties and Investments Help?
We have the ability to help clients with a 1031 Exchange into a DST, Delaware Statutory Trust. This allows you to own the properties but no longer have to manage them. So, you still get to collect those checks every month, without having to worry about maintenance, tenants, and all of those time-consuming responsibilities.
Great Lakes Properties and Investments provides you with this strategy to help you plan for retirement so you can spend time doing what you love when you’re ready to stop being a landlord.
Learn More About Great Lakes Properties and Investments
If you are interested in learning more about Great Lakes Properties and Investments, please contact us today with any questions!