Look for assets that appreciate in value. With something like a mobile home park, you get cash flow and income while the asset itself grows in value. You want assets that go up in value, not just a quick cash flow play. You could start driving for Uber and generate more cash flow, but that won’t make you wealthy.
What makes you wealthy is owning assets that go up in value. If you can borrow money to buy an asset, and the asset grows faster than inflation and the interest on the debt, your net worth increases over time.
Key points
- Cash flow alone, like a side gig, won’t build wealth.
- Look for assets that produce income and appreciate, such as mobile home parks.
- Debt can accelerate wealth if the asset grows faster than inflation and interest.
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