Appraiser · Victorville, CA · Member since 2009 · 9 posts · 5 votes
I am a Commercial Real Estate appraiser & am currently appraising a 48,000 SF industrial complex (four 12,000 SF metal buildings) in Adelanto, CA in the High Desert of the Victor Valley.
My building and two others are In Escrow at HUGE price increases over what these buildings were selling for Pre-MJ Ordinance by the city. Buildings are In Escrow for $4,000,000
I have also obtained lots of data for the City of Desert Hot Springs which has a more developed market at this point.
I would like to interview any investor involved in the real estate end of the Medical MJ industry - listing, selling, buying, and/or leasing buildings which will be used for cultivation.
John C. Carlson - Victorville, CA
Have to see my listing to get my contract info. Have tried to put it in in previous posts & was told that wasn't allowed.
Hi John-- I work in the Commercial arena in Mass, and a number of colleagues have tapped me for info on this. I'd be over stating to call myself an 'expert' in this field...but who is? I tend to rely on the known factors of other reasonably useful U&O, and I would advise you to do the same. Be conservative, if only to protect your license and reputation.
Care to chat, I'm game, of course. I'm always happy to chat with other professionals.
My concern is that MJ is still illegal under federal law. Yes, the prez did tell the DEA to back off, but there might be a new prez in 2017 or 4 more years.
I haven't kept track on how his"executive order" method of lawmaking is surviving the test.
I attended a medical marijuana briefing by a criminal attorney (defends medical marijuana businesses) recently who described CA SB 643, the Medical Marijuana Regulation and Safety Act (MMRSA). The attorney explained that the feds will get off the backs of individual states as long as they have a strict regulatory framework in place governing medical marijuana in their state. The bill has passed but will go into effect Jan 1, 2018 after all the enforcing agencies are set up. This supposedly will pave the way for recreational legalization as well.
So who knows really with a new president but medical marijuana is a tsunami no one is going to be able to stop. A way needs to be made to put rules in place so everyone can cash in, including the government.
How can a state law supercede a federal law.I don't believe it can. it's the reason CA's very strong anti-spam law has been watered down, and the Federal CAN/SPAM prevails.
The law can say let's play nice, but that's just words. If had some cash to invest I would be knocking on my nephews door in CO. But for me, 4M is to be a risk. I would be looking at entry level property. With federal asset forfeiture laws and zero tolerance,wow. Just Look how the "legit" dispensaries in Oakland where treated UNDER the prez.
@Chet Mazur Everything in RE is a risk. Calculate your risks, and make sure your risk-adjusted returns are there. Federal law, as related to state and county allowed marijuana operations, is a decreasing risk.