On Monday, March 2nd CARW welcomed Trista Curzydlo, an expert on the legal side of the cannabis industry. Those in the real estate industry have a lot to consider when thinking about getting involved in a cannabis-related deal.
Key takeaways from the event include:
- It is still ILLEGAL! Regardless of decriminalization in certain states, marijuana is still illegal at the Federal level.
- When you start working with cannabis industry clients surround yourself with competent cannabis legal counsel! This is a different animal than anything you’ve ever dealt with!
- You do not have to accept every client. If you are not comfortable, do not take it on!
- Develop a great relationship with your banker. The cannabis industry is largely a cash industry. The bank needs to be prepared and understand what you are doing when navigating the financing waters.
- Have a healthy appetite for risk.