Buying a second home in retirement can be a great way to generate income. But it's not without risks and downsides.
Brett Johnson, owner & licensed real estate agent at New Era Home Buyers, has clients who purchased second homes in highly sought-after areas of the country. Within a few years, in addition to gaining equity, the homes were paying for themselves through rentals. He also has clients who cover their mortgage, HOA and management fees with rental income, and still make a little extra on the side.
