I feel extremely wealthy though my bank accounts would argue with that sentiment.
A couple years ago I had over a quarter of a million saved up in cash. But I was constantly looking over my shoulder. I lived on the edge and slept with one eye open, trusting no one…feeling on the verge of being raided or robbed at any moment. Fuck that!
Now I’ve invested everything into my cannabis brand, hemp brand, toll processing hemp facility, cannabis manufacturing facility, GLG events, R&D and land.
Point is that I feel wealthy in terms if social equity and will never go hungry with the network I have built. And now that almost all my investments are starting to trickle in revenue it’s a matter of focus and persistence to open up the floodgates
I’m doing aight in my cannabis income streams, steady 150-200k take home the past 3 years in a row.
But I also have real estate that I own outright, one that I rent out for now (soon to be living on), another that produces ~30% of my food (increasing 5% annually as things mature). As well as another property that costs me $1000/year to lease where I raise my cattle. That makes up another ~30% of my diet (and brings in like 20k/year).
Like @Killa12345 I am debt free, although only because I am between loans, of which I like to keep 25-50k out in loans that I pay off in advanced to build “credit”. I do this with my credit card as well, max it and pay it off 100% at least once a month.
I’m invested in 10 various companies, 5 of which are cannabis. 1 pays dividends.
I actively trade crypto currency, gold, silver, ammo, and other precious metal…
I consult, advise, give lectures, and teach classes. Mainly on cannabis, but more and more permaculture as well.
Yet, I spend 90% of my time with my little family.
Remember, dollar bills are only one small form of capital. True wealth comes from relationships with people and Earth. Always diversify.
I’d be exactly where I am. Controlling my own destiny. This is the most undependable incestuous bullshit filled industry I’ve ever seen. Make your own product, sell your own product, build a reputation. Your reputation is worth more than any commodity.
This is a pretty good failsafe in any industry, no matter how the public markets are doing.
The people who have made the most in the least amount of time are those whom have done this. Andy DeFrancesco for instance was/is involved with Aphria, LHS, SOL, HeavenlyRX, Medmen, and a few others.
You basically just need a good network to execute that. Package a “deal” (acquire existing companies, or maybe pair some operators with some naked licenses, etc), have an underwriter to take it public, if you’re going onto the CSE/NEO/etc secure good promoters, etc. There aren’t many people who have done this and maintained a good reputation… most if not all of them get too greedy and take horrible deals public.
And the Canadian ibanks are a whole different story. For even the highly regarded ones, their cannabis process has been this (yes I’m generalizing):
Find a deal & take it public. Take a hefty underwriting fee.
Have your analysts place a very high price target, which retail investors will follow.
Have “partners” short once the stock hits said price target, take a %.
Have other “partners” offer predatory financing to the company, take a %.
When predatory financing runs out, run a few gypsy swaps, etc. Of course, take a %.
Previous life. Millionaire in liquid capital. No credit no assets
Life now. Millions in assets. 6 figure credit line. Currently 40 grand in debt
Experience: cultivation distribution processing
If I could go back I would get rid of the idea that I “always need to be working and making money”
Or especially hitting some dollar benchmark by a certain time like some kind of fuckin Houdini
And I would instead , sit back watch the market with a magnifying glass, identify trends and bottlenecks in prime locations and Execute, accumulate, and as supply increases, get out and start over again.
Always keep health your number one priority.
Example: providing a service as a mechanized dryer in 2019 is the equivalent of extracting in 2017
If you have a chance to be a first mover, take it. Rinse clean repeat keep this cycle until you know that you can be the best at something. You will know when that time comes.
And one more thing:
Trust no one but yourself. Don’t even trust yourself until you can. You will know when that time comes. Until then, family only. Not “fam”
I wish I knew it well enough to give a clear synopsis, but honestly since it’s mostly specific to Canadian markets I don’t care enough to spend anymore time on it. I’ll always respect Canadian cannabis pioneers whether it be for what they’ve developed in terms of breeding, hash, seed/fiber/etc, but in terms of the public markets I have zero patience left. In a few months they’ll be back to where they deserve, shilling junior mining penny stocks.
And again I’m generalizing - I mentioned Andy who I think has actually done a great job with SOL, LHS, HeavenlyRX, even his Aphria transaction will probably work out way better than people initially thought. The public will likely never know the names of the worst offenders.
well, Our saying is real hustlers never get caught idk what you’re talking about lol
