Chicago-area landlord Derrick Rowe had to sell three properties and borrow against his retirement to make ends meet this year.By Derrick Rowe
I was three years from retiring when COVID-19 hit. But the pandemic has stopped me in my tracks and set me way back. Now I don’t know if I can ever retire.
There isn’t much wealth passed down between generations in my community. I grew up in Chicago public housing and wanted to teach my children about investing, about building wealth.
So I’ve worked as a landlord for decades to build up something for my retirement and my kids.
When lockdown started, the governor put a moratorium on evictions — nobody wanted people on the street. I understood this goal, but I was, and still am, confused on how housing providers were supposed to pay for this decision.