“With so many obstacles and regulations in the weed business, owning your real estate is the only thing we can control in this industry,” Sally Vander Veer, CFO of Denver-based pot shop Medicine Man, tells Inc. “It's essential to long-term success.” That’s because, if you don’t own your own grow-house, it's typical for landlords to up the rent significantly after marijuana-growers invest huge sums of money converting the space. And the local real estate business is booming for buildings perfect for growing weed (aka zoned as light industrial). Vander Veer and her brothers bought just such a building in 2014 for $2.5M, and they recently sold it for $6M. Among all the uncertainty in the pot business, weed entrepreneurs can only make one safe bet: buy real estate….read more
This powerful four-member “team” could mean the difference between success and failure in real estate. Sometimes a team can accomplish far more than a group of lone individuals. For example, cyclists in the Tour de France take turns riding at the front of their group, decreasing the wind for those behind them. Wolves hunt in packs to take down animals 20 times their size. And for those of us who were children of the '90s, we all remember Ducks Fly Together…read more
Think you can’t invest in real estate because you love to travel? Think again. Here’s how one traveler renovates, manages and rents her investment property, no matter where she is in the world.
Sometimes it’s worth investing in a middle man. Pant describes hiring a property manager after a phone consultation. She signs the contract electronically and keeps tabs on the property’s needs by email. The property management company does all the necessary upkeep, like cleaning gutters, and sends photos to Pant when tasks have been completed.
Even when she’s adventuring around the world, Pant knows her property is in good hands. read more
Nationwide home prices are now within 10 percent of their pre-crash peaks and seven states have surpassed those peaks, some have been establishing new high marks for several months. CoreLogic said today that its Home Price Index (HPI) that tracks that home prices nationwide, including distressed sales, rose in March for the 37th consecutive month on a year-over-year basis.