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.
But that doesn't mean it's a ticket to get rich quickly nor is this company risk-free. Let's analyze how IIP makes money and why it might be a good fit for your portfolio.