Cannabis Property Investing

[Michael Taylor]

As an owner of a licensed cannabis dispensary in California and deal technician of other cannabis retailers, I’ve noticed the big winners are always the property owners. I just got my real estate license and know of several real estate deals I can broker for good money but I’d much rather become the property owner in the transaction. Since working with banks is a no go I’m wondering if anyone has an opinion on how best to structure a deal like this and what equality I should give as I don’t want to be to greedy or short myself. I have money to put in the deal but always love putting up nothing 
some basic numbers would look something like this

$1,000,000 purchase

Property rehab paid by tenants $200,000 (sewage, city water connection, fire sprinklers, external and internal rehab)

Rents would be locked in at 10 years + multiple 5 year options & 2.5% annual increases starting @ $9,000/mo gross 

[Steve Morris]

I own IIPR (a REIT focused on MJ grow and warehousing places) and this thing has taken off like crazy. So I think that end of the biz is pretty lucrative.

On the retail outlets, in OR, we're definitely getting swamped with new ones (I think it was $30/g 3 years ago and now I'm seeing $3/g advertised).  So don't know if I'd reach for leases.

I'd be kinda wary since (was an ex-engineer) in the early 80s everyone wanted to open a computer store since they loved it as a hobby.  That didn't work out so well.