Real estate that generates income or is otherwise intended for investment purposes rather than as a primary residence is called investment real estate. It is common for investors to own multiple pieces of real estate, one of which serves as a primary residence, while the others are used to generate rental income and profits through price appreciation.
Income from investment real estate is called “Passive Income”. By adding passive investment properties to a portfolio, an investor gives themselves the freedom to choose which activities are most important to them. Many investors find a great deal of enjoyment out of managing properties and find it very therapeutic to do the work themselves. God bless them! Others find it very therapeutic to take walks on the beach and to one day hope to make the beach part of their retirement.
Regardless of what brings you joy in life and how you want to spend retirement, supplementing that retirement with passive income from real estate is a great way to build security, peace of mind and additional income.