Buying rental units after age 50 - Bad Idea?

[CL Ziegler]

Hi Everyone,

In a casual conversation the other day a friend said: 'You can't look for a quick return. Any money made will be over the long term.'

That has been bugging me ever since he said it.

Here's my question...

Where do you plan to make your money from a rental? Short term (monthly cash flow) or long term (what does that even mean; appreciation upon selling out) ?

I will admit that when I got into rentals (I own 6 SFHs) I was trying to increase income in the short term. But my friend's comment has kinda rocked my understanding of what it's all about. If I'm investing now to make money LATER then why bother with all the aggravation. Is it worth it?

Another question:

Is it still practical to continue acquiring rental units later in life? If a person is over 50 years old, are long term rentals still a good vehicle for investment?

Look forward to your responses. Thanks in advance...