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Even though it is legal in some states, including California as of this month, I would lawyer up before representing a building as suitable for a grow house or a head shop. Regulations are still being passed at State, County, and City levels. Employers can still fire an employee who tests positive. And, the Federal Government still considers it illegal.
Dorie Dillard Austin TX
Debbie Laity has written several articles on the joys and nightmares in dealing with this new emerging market.
Los Angeles, CA
Stevens Point, WI
Booming potential and the states have a free-hand and the feds will soon follow. Employment, tax revenue, Real Estate, related fields and of course the consumers have spoken. They want it. They want to sell it too. Its happening
Los Angeles, CA
Fred Griffin Florida R...
Unless a person is violating the guidelines for marijuana possession in California, the fed does not prosecute. Cultivating, however, is another story. I have had a huge uptick in people calling about rural mountain properties in the Sierra, areas where I don't sell anyway and know none who do. When you ask why they want to buy there, the reasons are typically very vague, and then it's pretty easy to figure out why.
I don't get involved in it but not because I'm worried about liability. I just don't want to drive that far, most are an hour away, nor put in that much work over a small plot of land.
I agree with Fred Griffin however, hopefully not for long
Fred Griffin Florida R...
Annie Adjchavanich - now if this was in Massachusetts....
There have got to be some attorneys who can advise you appropriately here, Annie Adjchavanich - I would not broach this without consulting one. It's too new in your area and I am confident that different states have different laws. Good luck with it though!
Fred Griffin raises some valid points!
Fred Griffin Florida R...
Annie Adjchavanich Very interesting dilemma to experience. Good luck
Someone who can tell your first hand how real estate is impacted is Belinda Spillman and Dick Greenberg . They are both in Colorado, and know more about this.
My business is residential and I have yet to receive any calls for cultivation or retail spaces. Good luck finding the right opportunities, Annie.
1 per week, and the information needed to move forward on this is as elusive as a ball of liquid mercury. I can't get a simple list of which municipalities allow it in Southern California, for starters. Most commercial leasing agents cut me off in mid-sentence when I ask if their space is available for MMJ for my client(s). Couple that with Gov. Jerry Brown mucking up every single law this past week by trying to tie together medical and recreational pot laws, and you have a recipe for expensive research. Then add on the uncertainty of whether the Trump admin is going change course from Obama and start cracking down on the business, as it is still a federal crime.
Living in Colorado, we have seen lots of activity revolving around pot. It is still illegal federally, so I won't list a home with pot growing.
It failed here...
I'm parked and reading. I work with a lot of growers in Colorado. Send them my way when they can't afford your land prices.
In DC, possession is legal. Selling it is not legal - although you can give it away and grow you own - if you can find seeds - up to six plants. And while we don't have retail shops, there are some new condo units that offer special little "grow closets" to provide perfect growing conditions. Who thought we'd see the day?
not in CA so I can't help you
Not yet. I likely will not involve myself in that.
Blog about your experience.
Hi Annie - That's probably the biggest, and for us in real estate, the most notable impact from our legalization 3 years ago - and it hasn't slacked off.
Have a builder who is building warehouse growing facilities in Colorado.
We have been dealing with this in Oregon over the last year. And it is an on going issue as the regulations for this law are still being written.
Not sure the impact that will have on you all in CA but I am sure the new problems will be welcome!
No calls yet.
There are a great many caveats to this industry of defiance. Those who grow, dispense or supply infrastruture or equipment for this industry will find they are not included in the list of federally recognized business/industry meaning lenders won't touch them with a ten foot pole.
As demonstrated with the population of those who appear on the list of sexual predators, local governments can and will pass codes to made it impossible to exist, legally.
It will be renewed class warfare between reality and 'not in my neighborhood.'
Example: In Florida we are dealing with a heroin epidemic. IT was the direct result of closing down the pill mills. Now the $$$ flows to outlaws tax free rather than pharmacutials companies.
Each local will get to decide if the revenue is to be taxed or flow through the black market. That is really the only decision to be made.
If a buyer with a streak of defiance needed help, they can call me.
We have been dealing with this for a couple of years in Washington State now and the state will be issuing guide lines and licensing criteria soon so be very careful....
You'll find local city planning is going to have other ideas. You can't just put up a dispensary wherever you like. They are highly regulated on a local level regardless of recent state law changes. The Feds can still slam them shut any time they like and I think that's more likely now than a week ago...
Prop 64 is irrelevant and a total waste of our time. Possession, use or cultivation of marijuana is still a violation of federal law (which trumps state law). I would not go anywhere near that. I'm going to be reminding my tenants about that too.
I'm in Dallas Fort Worth, Texas, and we don't have marijuana legalization here or maybe not yet....
It's going to be an interesting set of situations you will be facing.
that's a horror show waiting to happen....we'll be dealing with that as of Dec 15....
No, since I'm in Illinois, but make note that if a person is a W-2 employee, he is fine, but the owner can not use this as a form of income. The federal government does not consider this, since it is just a state law. Very interesting!
We're still struggling after 2 years of legalization in Washington State. The neighbors hate the odor coming from the "farms".
I will let someone else to represent land owners.... Not to have cops intereviewing me. May be that real estate broker can get his broker license back since he had a head start a few years ago...
I know you want to open your own neighborhood shop, Annie Adjchavanich!
Might make a great real estate office too
If not yet, you soon will as people scramble to profit!