Thinking about taking the plunge with ~$175k

[SimplySour]

So I've been growing for about 12 years, I'm an upstanding member of my local professional community, and I've managed to save about $175,000 in liquid cash over the years, all legal that I've paid taxes on. I have a masters degree, a very supportive wife, and a desire to really get into this industry full-fledged. I'm not an 18 year old with a pipe dream that's never grown. I've managed fairly large grow-ops by myself, and I've produced extremely high quality meds over the years.

My desire is to buy a building and a store-front to grow/sell my wares.

I've been looking into Rhode Island or Michigan for setting up shop. I've been reading statute after statute to see what is required, and what is allowed. My wife wants to move to Colorado, but I feel the markets in Colorado and Cali are so saturated right now that it may be tough to enter the market.

I was wondering if anyone could offer any insight onto emerging communities or any advice/suggestions.

I should mention that it's really not worth it for us to quit our jobs here and move unless we can net at least $350k per year.

 

[Yes4Prop215]

everything sounded good until the "netting 350k per year" part....even though you can bypass the nonprofit by paying the managers a high salary the cops still dont like seeing people make 3x their salary growing/selling weed. id imagine alot of that 350k will be spent on your local community to butter up your peers...

 

[SimplySour]

everything sounded good until the "netting 350k per year" part....even though you can bypass the nonprofit by paying the managers a high salary the cops still dont like seeing people make 3x their salary growing/selling weed. id imagine alot of that 350k will be spent on your local community to butter up your peers...

My wife and I are not greedy people at all, but I subscribe to the philosophy that you cannot help the poor, or benefit those in need if you are in the same boat. We give a lot of our income to charities, we volunteer at various animal shelters, and we are very very involved with the boys&girls club in our city.

We both have very good jobs, but I don't know how willing we would be to take a $100,000 pay cut to pursue this venture. we live wellllll below our means, don't drive luxury cars, wear expensive clothes, etc.

 

[Yes4Prop215]

yea i hear that, if i was in your boat, i would keep your 100k a year job and just grow under the radar as usual. opening a dispensary is like popping your head of of the gopher hole, the DEA, IRS, and the other greedy pig fucks are just waiting to see people slip up...

a couple guys out here in california got 20 years not for growing weed and the dispensary they ran, but criminal conspiracy, federal MMS of 20 years. they found another way to fuck them, they were making millions but still.....if you are a dispensary your books should show alot of spending on non profit donations to help in court in case anything bad happens. even harborside which is the pinnacle "shining example" of dispensaries had to close one of their branches because of loopholes in the tax code that could fuck them..

 

[Hash Zeppelin]

sounds like you should just keep doing what you are doing, unless you hate your job.

 

[greenmatter]

colorado is not the promised land ...... they are still changing rules and coming up with new and stupid shit. i would count on any of the newer med states being a bit of a fiasco until everything is worked out ... if you can handle the lawyers, cops and politics you might get to help people .... or that same group will slowly chew up your 175K and not blink over how bad they are screwing you. heads or tails?

 

[SimplySour]

This is kind of what I figured. We have been kicking around the idea for a while, but I guess we'll just have to wait until the laws change and/or the DEA stops being dicks about the whole thing. I appreciate the responses.

 

[Lone Wolf]

^ i think there are a LOT of people waiting for them to stop being dicks

...... hats off to those who boldy go where no man has gone before.....

 

[Yes4Prop215]

if i had 175k right now...id put 50k down on a 30-40 acre parcel in humbolt county with OWC..then spend another 20-30k to setup a field of 200 gallon smartpots and a bunch of tents/trailers for living quarters and drying.....find a property with a well and pond if you can and go to work...then you find some kids you can trust to trim and and somebody to dump all that stuff on (preferably out of state please we dont need more outs in cali lol)....

but then your back to the same problem...having a ton of cash and not knowing what to do with it.


i would look into a legal business...buy a vacant lot and convert it to a car dealership..charge the dealers rent...buy a house and charge high ass rent for some growers to use it....become a landlord/property owner and just sit back..

 

[SimplySour]

if i had 175k right now...id put 50k down on a 30-40 acre parcel in humbolt county with OWC..then spend another 20-30k to setup a field of 200 gallon smartpots and a bunch of tents/trailers for living quarters and drying.....find a property with a well and pond if you can and go to work...then you find some kids you can trust to trim and and somebody to dump all that stuff on (preferably out of state please we dont need more outs in cali lol)....

but then your back to the same problem...having a ton of cash and not knowing what to do with it.


i would look into a legal business...buy a vacant lot and convert it to a car dealership..charge the dealers rent...buy a house and charge high ass rent for some growers to use it....become a landlord/property owner and just sit back..

We actually own our house out-right, and we have 2 rental properties. Our investment portfolio is pretty good right now, we are fairly safe investors, but I just really wanted to do something I was passionate about. We both like our jobs, and we make a very very very good living, but you can only deny passion for so long, lol.

 

[headiez247]

Totally respect wanting to do that but your best bet by FAR right now is to stay as you are and just keep doing what your doing. Also please be sure to be careful with any grows you do. DEA loves people like you who own their own house and have investments they can freeze.

 

[SimplySour]

Totally respect wanting to do that but your best best by FAR right now is to stay as you are and just keep doing what your doing. Also please be sure to be careful with any grows you do. DEA loves people like you who own their own house and have investments they can freeze.

I appreciate the concern. We've scaled our grow back to just personal use now, lol. One 600 watt, plus a tent in the corner of our closet, more than enough for the wife and I

 

[Kiwi Star]

but you can only deny passion for so long

There's your answer. We all might not be here next month so why fuck around.

 

[HUGE]

You have 2 choises. Underground or Colorado. I say this because of the income you require. The only state where an income of that sort will be tolerated in the open is Colorado and you'll still be under fed eye. The setupcost in Colorado is high talk to moonshine he is proll the utmoy authority on Colorado. Underground if you have connects always works. And you can keep tour jobs. That's almost a mil a year.

 

[forty]

put a lot of thought into stability, long term. canna is an ever emerging, volitile industry with many challenges. if you're stable at 350k with a dependent family i'd say chances are you have more to lose than gain... specially if your askin here.

 

[trichrider]

camoflage some of your assets, perhaps move as much as possible into your childrens names (trusts or outright gifts to minors), quit claim your house to someone very close that you trust with your wife...
many things can reduce your exposure, just make sure that you can prove that all you have was accumulated before going 'critical',
have a surety bond in case things get dicey...
funny thing about passion, it disappears after getting fucked.

 

[REZDOG]

In my very humble opinion,DON'T.
$350K.... No.

My .00002



~RD~

 

[BongRipkenJR.]

I dont see why you need to change your life so drastically. It sounds like you are actually upper middle class and part of a very rare part of society. If you own a house and rental properties and have a good job/life, there is no need to get greedy. Learn to be happy on less and less. Sell everything and move to a place that makes you happy. I dunno, looks like you have all the credentials to be worth something everywhere you go.

 

[teemu shalanie]

pm me send me half , if you got too much to know what to do with , I live in a community that would love a newly donated kids center, you can do alot of good with all that cash if ur secure in your own lives , or drill some wells for some 3rd world hommies, or dig a whole put ur money in it.
sounds like the all mighty dollar got a hold of u bro
TS

 

[gonzo`]

don't be jealous guys... i'm embarrassed for you!!!

SimplySour, you should just treat this like any of your other investments and do the due diligence especially as this one is a little less conservative! The first thing you should do is get hold of a few dispensaries annual reports to see exactly what their cost base is like and to gauge what sort of income they generate. You should also seek advice from a very good lawyer to get a flavor for how the legal side of things are developing and what you can do to position yourself in the safest way. A savvy accountant will also go a long way in helping you keep your books in order so as to please who ever you have to.

In my opinion, this is a big risk considering what you've already built, but the upside is pretty sweet too! Just do your research and make an informed decision.

Good luck and keep us updated!