If you’re a more aggressive investor, you can buy fixer-upper properties in retirement and then flip them for a profit. This will require you to be much more hands-on with your investment, and you’ll be taking on additional risk. For starters, you’ll have to pay carrying costs, such as your mortgage, while you improve and try to sell the property. But you’re also taking the chance that you won’t sell the property at a high enough price to generate a profit.
On the other hand, fixing up and flipping properties, when properly done, can be a quick way to generate some extra retirement income. But you’ll have to understand your market and the true costs involved in renovating a property to have the best chance to come out ahead.