All Forum Posts by: Tyler Psenicska

@Scott Wolf @Ronald Rohde

Thanks for your input guys. It's important you call these things out.

So to be clear - besides finding something private - is HML my only option or would there be local banks that will lend to cannabis companies? We have companies in the state I live that I know could do this - I'm just not familiar with OK.

More context. These guys were already tenants on the property for 4 years. They've already built their facility for about $350K and are operating. They want to be left in peace to run their business and sign a lease with me that includes an option to purchase the property back at a higher, predetermined price.

It's a unique situation - the cannabis company and land owners know each other very well, however the relationship is tense due to issues unrelated to business. The land owners want to exit and the cannabis company does not have the cash right now to buy the property, though they wish they could (they opened 2 retail stores so tight on more debt). They may continue to expand on the property.

I'm glad you said something about the value.  At least for the first 10 years the value is in the income. There's currently an 8400 sqft building and some other small buildings. They seem very unlikely to want to move, and I'd be okay with that. However the property is placed in a growing area. The neighboring properties are being developed. This lot could certainly be subdivided - it's 14 acres. 

Hey everyone,

Thanks for clicking on this. I'm an existing residential investor looking to make a real estate purchase of vacant land in Grady County OK that I will be leasing NNN to a medical marijuana company that already legally operates on the property. Here are the details:

They are taking care of the land, taxes, etc. as part of their lease and will build their own buildings on it. They've already built a few small warehouses.

They have an existing 10 year lease on the property and are willing to resign a 10 year lease. The tenant will pay about a 12%-15% cap (goes up due to increases) on the deal.

The current property owner will sell to me for about $200K.

Here are my questions:

I'm assuming I'll need 25% down for anything commercial - is this correct?

Is there is a way to do some form of bridge loan so I may pay for the property in cash to expedite closing and refi into long term financing? How much does this product cost to use?

What type of permanent financing do I need - business loan or SBA? Are there separate commercial real estate products? Does it matter that it's vacant land?

I'm assuming cannabis will be an issue and I'll need to find a local credit union that is okay with lending to me if my tenant is cannabis. Any guidance?

Hey everyone,

Thanks for clicking on this. I'm an existing residential investor looking to make a real estate purchase of vacant land in Grady County OK that I will be leasing NNN to a medical marijuana company that already legally operates on the property. Here are the details:

They are taking care of the land, taxes, etc. as part of their lease and will build their own buildings on it. They've already built a few small warehouses.

They have an existing 10 year lease on the property and are willing to resign a 10 year lease. The tenant will pay about a 12%-15% cap (goes up due to increases) on the deal. 

The current property owner will sell to me for about $200K. 

Here are my questions:

I'm assuming I'll need 25% down for anything commercial - is this correct?

Is there is a way to do some form of bridge loan so I may pay for the property in cash to expedite closing and refi into long term financing? How much does this product cost to use?

What type of permanent financing do I need - business loan or SBA? Are there separate commercial real estate products? Does it matter that it's vacant land? 

I'm assuming cannabis will be an issue and I'll need to find a local credit union that is okay with lending to me if my tenant is cannabis. Any guidance?

Thank you so much in advance for your help!