Denver CPA Lights Up Pot CRE
For one Colorado CPA, thereâ€™s real investment potential in real estate catering to marijuana. (There's also a lot of money to be made in Taco Bell franchises.)
In what may be the first-ever real estate investment group targeting marijuana growers, Colorado-based Advanced Cannabis Solutions has filed to raise $5M in debt with the SEC. In turn, company CFO Christopher Taylor (and local accountant) will use the funds to buy commercial real estate for marijuana operators. We chatted with Christopher, who says ever since the landmark law was passed that legalized medical marijuana in Colorado, those commercial operators have had a tough time finding space. (Suddenly pot is easy to find and retail space is hidden.) Operators can't get mortgages like normal businesses and many landlords still scoff at doing business with them. With his company on the buy side, he will lease properties in areas that allow for the zoning back to those operators. And it doesn't hurt that Chris already has an "in" with a lot of marijuana growers, given he's done accounting work for many of them. "We pretty much know all the operators in the area."