Kind Blend – Marijuana and Real Estate
The cash flow behind cannabis real estate
Michael Conroy is a real estate investor who capitalized on the legalization of marijuana and set up shop in Denver, Colorado. Not just small-time grower, Michael owns a 30,000 sq. ft. industrial property that he utilizes to grow cannabis for his business. The marijuana market is hot in Colorado and so is the cash flow with Mike making upwards of 45% ROI on his properties annually.
In this episode, Michael shares how he got started in the real estate business and how he jumped on the opportunity to begin marijuana cultivation. Mike talks about the numerous hurdles encountered along the way and how he stayed the course to become a success story in an industry where most fail.
Five Key Points:
- Being a temperate leader is key in understanding that you have a job that you’re trying to accomplish just as much as your employees do.
- It’s a complex operation to grow the marijuana plant, process it, and deliver it to market.
- When it comes to marijuana growing spaces, it’s all about location.
- There are only 10-15 names in the marijuana cultivation industry that are recognized nationwide.
- If you want to enter the marijuana growing business you have to position yourself for success by partnering with a competent operator.
Favorite Athlete:
- Bo Jackson and Frank Thomas, both played on the Chicago White Sox baseball team
Favorite book:
- The 7 Habits of Highly Effective People by Steve Covey
Pro tip:
- Part of being successful is side-stepping “no” on a daily basis.
Thank you Michael for taking the time to share your expertise on building a real estate business around marijuana cultivation.
**Tune into our conversation here - iTunes - Stitcher -
Invest well,
John Carney
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