Weed, Cannabis, Mary Jane, no matter what you call it, there is a growing demand for Cannabis Friendly Real Estate Investors willing to rent to space to cannabis business owners. Retail & warehouse space are in short supply. New legal cannabis business owners are looking for a place to call home near you.
I had the chance to speak with Ryan George of 420property.com . Ryan recognized the demand and developed a marketplace for cannabis friendly landlords and tenants to connect.
How big is the legal cannabis business?
The National Football League is estimated to generate $12 Billion in annual revenue. Legal Cannabis business is projected to be a $7.1 billion business by end of 2016.
In its fourth edition of The State of Legal Marijuana Markets, ArcView Market Research predicts that the legal cannabis market will see a massive $21.8 billion in total annual sales by 2020.
What is the Law?
Currently, the United States Federal laws recognize marijuana as a schedule one drug, making it a controlled substance, and illegal in the USA.
However, as of the date of this post, there are 4 states with legal recreational marijuana and 20 with legal medicinal sales. The November 2016 elections have an additional 20 states with ballot measures to legalize cannabis.
What are the Challenges?
The industry is in its infancy. The industry education process is full of industry trade shows, ballot measures, and public discussion.
The industry needs legitimate business owners and operators.
Financing, Real Estate, Banking are all challenges for marijuana businesses.
Locating a dispensary is a challenge. Local government restrict the location of retailers regarding distance from a school and other public places where minors gather.
Many landlords would rather not get involved with a controversial tenant that could bring unwanted attention or traffic to their property.
These challenges create pockets of opportunity for willing landlords.
This is a chance to not follow the herd.
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