With a cannabis business plan, a location, and an idea of possible returns, securing the money is the next big step. However, if financing is needed, the banks will say no. Arizona Hard Money Loans are the best option for cannabis dispensaries in Arizona.
As of 2011 with the Medical Marijuana Act in effect, the ADHS (Arizona Department of Health Services) began to accept applicants care givers and card recipients. Nearly a year later in 2012, state-regulated dispensaries began to appear. Currently, there are more than 150 dispensaries in Arizona. Dispensary applicants must pay an application fee of $5000, must have three years of Arizona residency minimum, must employ a licensed doctor, and must only be affiliated with one dispensary.
According to ADHS’s Medical Marijuana Report, 121,915 pounds of marijuana were sold in 2018 in Arizona alone. The estimated value of Arizona’s medical marijuana market surpasses $400 million dollars, and it only continues to grow. This growth is enticing many to invest in a market of growing returns, despite the legal grey area and inherent risks associated. Marijuana could possibly be the new Mecca of investment. Trends suggest increasing use per capita, growing consumption of current medical marijuana users, and increasing lobbying to mitigate state and possibly federal regulation. The takeaway is that cannabis is a $400 million industry on a state level and a multi-billion-dollar industry on a national level. Despite the legal hurdles and the state versus federal conundrum, getting into the legal cannabis business today could equate to undreamt earning potential in the future.
Planning, research and funds play a huge role in the medical cannabis industry. First of what, where, and when. What is the business’s focus? Is it focused primarily on cultivation, clinical consultation, or retail. Where? Locating an area in accordance with the ADHS’s CHAA regional guidelines can be a challenge. Where will your dispensary find the right niche to sell its products, what type of real estate is needed, and where will the funds come from to purchase the dispensary’s infrastructure.
Though the application cost is only $5000, other financial elements should be established beforehand. With a business plan, a location, and an idea of possible returns, securing the money to put things into motion should come to mind. If financing is needed, the banks will say no. Arizona Hard Money Loans are the best option for a dispensary in Arizona.
Arizona Hard Money Loans are available through a hard money broker. Find the financing options that are right for your cannabis dispensary. For Arizona Hard Money Loans, talk to a broker at Level 4 Funding today!
Level 4 Funding LLC
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Arizona Tel: (623) 582-4444
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Dennis Dahlberg Broker/RI/CEO
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22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.