With the economy in a long term slump, fewer people will be able to buy a home. Banks are not willing to loan large amounts anymore, so people will be forced to rent. For the the person looking for a new way to save for retirement, rental investments may be a good business.
There are IRA accounts that include real estate, and if it’s the right kind of property, the investment could be very profitable for the long haul. Rental houses are not particularly good to own. They typically require a tremendous amount of maintenance, and you can’t count on the tenants to do it. Condos may be a little better investment. However, a trailer park is probably the best way to go. The tenant owns his own trailer, so you are not saddled with the expense of keeping up the home itself. Your responsibility is the lot the trailer sits on.
You may choose to make part of the trailer park a place for RVs and the the other part a place for mobile homes. If you keep strict guidelines for lot upkeep and keep a deposit on each renter, then hopefully you won’t have troublesome residents who make your business expenses higher than they should be. Regardless of the economy, people will always need trailer parks, so this could be a real estate investment that could easily finance your retirement. If you make your home in the park, you can continue to work elsewhere while running your personal business.