If you are ready to take your finances to the next level and build long-term wealth, below are some of the best income producing assets you need to consider. And remember in this first section that there is more risk in these assets. But a good investment portfolio helps balance these risks and diversifies your income.
By owning rental properties, each month you can collect a nice rent check that pays down your mortgage. Additionally, you build equity in your properties and then later you can be sell your property for potential profit (pending the housing market).
It’s great for those who need cash quickly because they don’t have to jump through financial paperwork hoops like they would with a bank. Plus, the interest rates are much higher when they are through banks.