This article will guide those who want to know exactly what 420 real estate is all about. You might be wondering, does a real estate agent need to know about marijuana? Let’s find out! This guide will provide an overview of 420 real estate and the people working in this field. It will cover how much cannabis is worth and how marijuana is an asset for the buyer and seller alike; it’s worth discussing now that prohibition has largely ended. There are many different aspects to consider when dealing with the cannabis industry, from legality, certifications, and insurance to marketing methods and business strategies.
What Exactly Is 420 Real Estate?
420 real estate is an industry that deals with the purchase and sale of property that has been utilized for marijuana cultivation. To clear up any confusion, it is important to understand the difference between cannabis and hemp. Marijuana has a much higher THC content than hemp. For this reason, cannabis tends to be more potent than other forms of hemp, such as CBD oils. THC, for tetrahydrocannabinol, is the chemical compound found in marijuana leaves that gives people a ‘high. The most common form of this chemical is delta-9-tetrahydrocannabinol (THC). CBD oils, on the other hand, are made with psychoactive THC at less than 0.3%. These oils used for medical purposes as they help people suffering from serious illnesses such as chronic pain and epilepsy. Because the amount of THC in CBD is so low, it will not cause a high.
What Are Some Advantages of 420 Real Estate?
Cannabis is one of the most valuable crops in the United States, accounting for $44 million in wholesale and retail sales. Doctors like marijuana for a variety of reasons. It can treat PTSD and has known to combat insomnia, depression, anxiety, arthritis, and more. Cannabis is quickly being discovered as an alternative to combat pain and other serious medical conditions. Not only that, but companies have also come up with innovative ways to consume marijuana. They including edibles (marijuana snacks), tinctures (liquid form), balms (solid form), oils (liquid form), etc. In recent years, marijuana and its products have become more common in the public forum.
Are There Any Disadvantages of 420 Real Estate?
Many advantages come along with cannabis real estate. However, there are a few disadvantages that come with the business. The most common scam is the ‘419 scams. Which involve a person pretending to be from Nigeria or China and pressuring a seller into giving money for land or property. The next biggest issue is taxation or lack thereof regarding marijuana real estate. Some citizens are still unhappy with this new industry. So they may try to screw over the company or the buyer. This includes lowering the value of the land or property to make a net profit.
What Are Some Reasons Marijuana May Not Be Taxed?
Currently, marijuana is not taxed on a federal level in states where it has been legalized. But that doesn’t mean that it’s completely off the hook when it comes to taxation from a state or federal standpoint. In Colorado, for example, marijuana is taxed at 23% on sales and 15% on other transactions involving marijuana. As a result, the sales tax for marijuana has gone towards different aspects of the state, including education and transportation. In 2015, Colorado’s revenue totaled $135.6 million from medical and recreational marijuana taxes.
Conclusion
The 420 real estate industry is still in its beginning stages. Many people are still not entirely comfortable with the idea of legalizing marijuana. However, time will tell if this is a popular decision. As long as the cannabis industry has substantial support and positive attention. You can expect to see more and more companies entering this field in 2017. People will likely fill these jobs with degrees related to the marijuana industry, such as business, agriculture, and biology. At least the next step in changing people’s minds about marijuana is getting rid of all prohibition laws for medicinal purposes.
