Sometimes it can be a struggle to get enough money to have the kind of retirement that you've always dreamed of. Knowing this, entertaining the thought of leaving behind anything substantial for your surviving loved ones can seem like an unattainable dream. However, this doesn't have to be the case. You're never too old or inexperienced to begin investing in real estate through rental properties. By following these steps, you can begin to create a steady, strong stream of income that you can use to live well throughout your retirement and pass along to your loved ones in your estate planning. 

Find Properties You Want to Own

This step can be as simple as looking at a website. Remember that the more units that are on the property, the more money you'll make. So strive for grabbing up duplexes, triplexes, or ever a row of townhouses. Make a list of properties that you're likely to be able to purchase due to your budget. 

Get Your Funds Together

If you don't want to use money you already have saved up in order to buy the property, apply for a loan from a bank. You'll have a better chances of the loan being accepted if you tell them what it is for, and have a property in mind that is for sale and already has tenants in it paying rent. When it seems as though the bank will merely have to sit back and let you send them money, they can be a little more generous with their credit. If you had to build a structure and then find tenants to occupy it, you may have a much more difficult time convincing the bank to give you a loan. 

Line Up a Property Manager

Though you may have the time, you probably wouldn't want to spend a lot of your retirement running from property to property checking on the state of the structure and repairing leaking faucets. That's where a property management firm comes into play. You pay them a portion of the rent from the properties each month so that they can be on call to make sure that everything in your building is safe and up to code. 

Once you have all these components in place, you can just sit back and reap the benefits of the passive income that this real estate situation creates. Now you have a way to thoroughly enjoy your retirement while still having something of value to pass on to other members of your family in your estate, which can be handled by an estate planning attorney, like those at Acton & Snyder, LLP.