So one of our captains was selling his farm in Michigan. A very rich man who owns a famous old folks development in florida walks up with cash and buys it site unseen and the deal is done in record time. His reason for buying......I want to use the climate controlled horse barn so my son can build the biggest grow house in Michigan. This guy will soon have a monopoly on weed growing in Michigan. His son was just another american pot head living on daddies dime. Now with daddies backing he will be the biggest bong baron in the midwest. They buy as many weed operations as they can in an attempt to take over the market and monopolize this barely regulated new market. The little guy has no chance around this kind of capital being thrown around.
A friend was growing before the last legislation passed.
The requirements before even being considered for a grow permit now is crazy $$$.
Plus , license's (read $$$) don't quote me I'm not accurate with so many changes bantered about) for growing. processing,distributing/transporting,selling...
That means having the property and facility to grow and process. And if in the dispensary game to eliminate the middleman ,another place to sell it from.
That's hundreds of grand ,but only a start.
A place I hunted, another friend sold to a potential grower. (Usually a team of investors).
Was paid well too!
The township did not allow a grow after regulations got sorted out amid speculation and now the property is for sale. With a possible split.
Or the buyer did not get a permit. (They are limited by communities.)
My friend teamed with an investor trying to get in on the new regulations. He knew from visiting Cali years ago that a million is peanuts...
The investor wanted him to put his house in the pot for financial leverage.
I suggested my house is the last thing I'd risk, but that it was his business. We have not spoke since. (But should.) I'm gunshy around such dealings being watched by the knowing local and beyond law enforcement that have already bit him by forfeiture law.../We take your cash and stuff and you can sue us in court to get it back.
They go to lots of meetings with community folks for/against allowing a grow or sale.
If one leans towards allowing such , speculators buy facilities.
There are usually multiple potential growers lined up at meetings. When/if a permit or permits will be granted ,they need to have their ducks in a row already to get one.
That's the crazy part creating buying real estate on speculation , and ensures the little$ guy won't be involved.
A cottage industry co-op would benefit more local folks ,but that's not the states interest I guess. Harder to regulate vs easier money .
definitely maybe kidding buddy.
yesterday.
