Otherwise, He Said, You Don’t Know How Those Regulations Will Shape Up – Or If They Come Together At All.

That’s what happened in Adelanto, where prices shot up to 10 times what they were before the High Desert city voted to allow commercial cultivation. And that’s the case in Humboldt County, where a 240-property that sold for $600,000 two years ago is now on the market for $8 million. Instead of going to cities where marijuana businesses are already legal, Mikalonis recommends aspiring investors do some research to find cities that have been open to marijuana in the past, such as ones that voted in favor of the recreational marijuana measure Proposition 64. Then he said to find property that meets state requirements by being at least 600 feet away from schools and that’s zoned for cannabis-appropriate uses, such as agriculture or light industry. Once they’ve got the property, Mikalonis suggests developers lobby local city council to permit and regulate cannabis businesses in that area. By contrast, Herzberg tells investors to seek out properties in cities that have already started the process of drafting regulations for cannabis businesses. Otherwise, he said, you don’t know how those regulations will shape up – or if they come together https://www.washingtonmedicalmarijuana.biz at all. “If you’re sitting there trying to turn new cities, you’re missing the opportunity,” he said. “There are just a ton of cities at play as we speak.” While it’s great to get in before land values take off, Mikalonis said, “If you miss the first round, all is not lost.” The company he works for, K Street Consulting, helped a client who bought suitable property right outside Coachella’s designated cannabis zone. They went back to the city and got them to expand the zone to include that parcel.

To read more visit http://www.ocregister.com/2017/05/13/investors-gather-in-huntington-beach-to-talk-taxes-stocks-and-marijuana/

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