According to a report by Business Insider, this number could grow to as much as $100 billion by 2030. Among the various cannabis stocks out there, don't overlook Innovative Industrial Properties (NYSE: IIPR), a real estate investment trust (REIT) that works with medical cannabis operators across America. Innovative Industrial Properties was founded in 2016 to help solve that obstacle.
Such enterprises often beget lucrative stock investments, and investors often turn to such stocks in hopes of beating the market. IIP is a different kind of real estate investment trust (REIT). IIP is one of the few REITs devoted exclusively to this property type.
Cannabis stocks aren't typically high on my list of go-to durable wealth creators -- except when it comes to Innovative Industrial Properties (NYSE: IIPR). Between its highly repeatable business model, persistently rising cash flows, and valuable service it provides for the cannabis industry, Innovative Industrial Properties (IIP) is a great option to increase your chances of retiring as a millionaire. Let's analyze how IIP makes money and why it might be a good fit for your portfolio.