Interview with Dusty Lashbrook, Futureland Corp Advisory Board Member
I recently caught up with Dusty Lashbrook, who agreed to divulge his extensive financial back-ground and reasons for sitting on the board of Futureland Corp (FUTL), a Florida-based real estate company in the cannabis industry. Futureland Corp is engaged in the business of leasing land and growhouses in the cannabis industry. Coming from a very traditional background working for Fortune 500 companies and banking/finance, I was very intrigued as to why the transition to the cannabis industry, which is characterized by startups, high risk and a wild west mentality.
1) Hi, Dusty, can you please give me a quick bio of who you are, where you are from and how you became interested in the cannabis industry in general?
I spent the first 29 years of my career in financial services; in banking and mortgage banking. During that time I managed every aspect of the mortgage and loan process with concentration in capital markets, operations and technology. During that time I worked for a number of companies, large and small, public and privately owned including one of the early dot com’s.
In 2005 I opened my own consulting practice which initially focused on assisting financial services companies with technology and operations but it soon gravitated to assisting start-up and early stage companies in taking an idea and turning it into a successful business. That assistance included developing business plans, technology roadmaps, and increasingly, securing the financing and capital the Company needed.
Early in 2016, I joined World Net Capital l; a consulting and commercial lending firm that specializes in raising capital and providing commercial real estate financing. WNC has arranged in excess of $2.0billion in financing since the Company started.
Over the years I have watched with interest, the successes that medical marijuana has had in the treatment of certain diseases and maladies. This has provided great relief to many. I have also watched the progression of legalization across the country ushering in the growth of a new industry. In regard to recreational marijuana, we have seen the success that it has had in Colorado in the generation of tax revenues for the state with few if any issues.
2) Tell me more about your background in commercial real estate, specifically your work with World Net Capital I. What kind of commercial real estate were you dealing with? Have you dealt with land and greenhouse purchases before?
My financial services career started in banking with an emphasis on commercial and residential real estate lending. My work with start-up and early stage companies required me to assist with commercial real estate financing. With Work Net Capital, we provide commercial real estate loans for a variety of projects, big and small. We offer loans as small as $500K and we are looking at a project today that requires over $300 million in real estate and equipment
financing.
Since November of last year, I have been assisting a family friend in Colorado in developing their 90 acre property into a state-of-the-art indoor grow facility including securing the financing. This project has required looking at greenhouse and equipment vendors that operate in this space.
3) The cannabis industry has one particular challenge. Because it is still illegal federally, obtaining financing is difficult, if not impossible. How can you leverage your real estate experience in terms of finding creative solutions for financing?
Federal illegality is an issue and because of this, most banks still have an issue providing financing and banking services for the industry. I am seeing this change though. In regard to the real estate financing, non-bank entities have increasingly gotten involved in the space and there is funding available for well-planned projects in the industry today. The non-bank entities do only look at projects above a certain dollar threshold. I am currently involved in securing financing for the project in Colorado mentioned above and my efforts with that project can be leveraged for Futureland Corp (FUTL).
4) How did you come in contact with Futureland Corp (FUTL), and what made you decide to become a member of the board of advisors?
I have known Futureland principals, Jerry Krystoff and Sean McNamara for a number of years. Knowing my background and the work that I am doing today, they reached out to me and asked if I was interested in joining the advisory board of Futureland Corporation. I felt that I could be of value and agreed to join the advisory board.
5) Where do you think you can help Futureland Corp the most as an advisor?
I believe I can assist Futureland in a number of areas including assisting them in the development of their business plan, sourcing financing, and analyzing new opportunities for the Company. I look forward to adding value to the company in any way possible.
I recently caught up with Dusty Lashbrook, who agreed to divulge his extensive financial back-ground and reasons for sitting on the board of Futureland Corp (FUTL), a Florida-based real estate company in the cannabis industry. Futureland Corp is engaged in the business of leasing land and growhouses in the cannabis industry. Coming from a very traditional background working for Fortune 500 companies and banking/finance, I was very intrigued as to why the transition to the cannabis industry, which is characterized by startups, high risk and a wild west mentality.
1) Hi, Dusty, can you please give me a quick bio of who you are, where you are from and how you became interested in the cannabis industry in general?
I spent the first 29 years of my career in financial services; in banking and mortgage banking. During that time I managed every aspect of the mortgage and loan process with concentration in capital markets, operations and technology. During that time I worked for a number of companies, large and small, public and privately owned including one of the early dot com’s.
In 2005 I opened my own consulting practice which initially focused on assisting financial services companies with technology and operations but it soon gravitated to assisting start-up and early stage companies in taking an idea and turning it into a successful business. That assistance included developing business plans, technology roadmaps, and increasingly, securing the financing and capital the Company needed.
Early in 2016, I joined World Net Capital l; a consulting and commercial lending firm that specializes in raising capital and providing commercial real estate financing. WNC has arranged in excess of $2.0billion in financing since the Company started.
Over the years I have watched with interest, the successes that medical marijuana has had in the treatment of certain diseases and maladies. This has provided great relief to many. I have also watched the progression of legalization across the country ushering in the growth of a new industry. In regard to recreational marijuana, we have seen the success that it has had in Colorado in the generation of tax revenues for the state with few if any issues.
2) Tell me more about your background in commercial real estate, specifically your work with World Net Capital I. What kind of commercial real estate were you dealing with? Have you dealt with land and greenhouse purchases before?
My financial services career started in banking with an emphasis on commercial and residential real estate lending. My work with start-up and early stage companies required me to assist with commercial real estate financing. With Work Net Capital, we provide commercial real estate loans for a variety of projects, big and small. We offer loans as small as $500K and we are looking at a project today that requires over $300 million in real estate and equipment
financing.
Since November of last year, I have been assisting a family friend in Colorado in developing their 90 acre property into a state-of-the-art indoor grow facility including securing the financing. This project has required looking at greenhouse and equipment vendors that operate in this space.
3) The cannabis industry has one particular challenge. Because it is still illegal federally, obtaining financing is difficult, if not impossible. How can you leverage your real estate experience in terms of finding creative solutions for financing?
Federal illegality is an issue and because of this, most banks still have an issue providing financing and banking services for the industry. I am seeing this change though. In regard to the real estate financing, non-bank entities have increasingly gotten involved in the space and there is funding available for well-planned projects in the industry today. The non-bank entities do only look at projects above a certain dollar threshold. I am currently involved in securing financing for the project in Colorado mentioned above and my efforts with that project can be leveraged for Futureland Corp (FUTL).
4) How did you come in contact with Futureland Corp (FUTL), and what made you decide to become a member of the board of advisors?
I have known Futureland principals, Jerry Krystoff and Sean McNamara for a number of years. Knowing my background and the work that I am doing today, they reached out to me and asked if I was interested in joining the advisory board of Futureland Corporation. I felt that I could be of value and agreed to join the advisory board.
5) Where do you think you can help Futureland Corp the most as an advisor?
I believe I can assist Futureland in a number of areas including assisting them in the development of their business plan, sourcing financing, and analyzing new opportunities for the Company. I look forward to adding value to the company in any way possible.
