I too served in the Navy 1980-1990 did well and got a job with American Airlines as an A&P Mechanic, did well, but did not enjoy the environment (union) always concerned about layoffs, paycuts, transfers and shift work. I left in 1994 and went into financial product sales and eventually sales management and recruiting( self employed), did well, made and saved alot of money. Now I own a chain of bulk candy stores and just purchased a MHP. Change is nessessary for growth. You determine how big (financially) you want to get. I have been a member of the UBA (unemployed buba’s of america) for 12 years now and enjoy the benefits = 1) Freedom from a Boss, 2)Time off when I want, 3) Unlimited income…as much as I am willing to work for and last but not least 4)Tax benefits.
This is the PDF application form for the state of New Mexico. The website says that a licensee must post a consumer protection bond in the amount of $50,000. Is this form typical for “Lonnie Deals” or is this for New Home Dealers? I can’t imagine having to submit all of the requirements on this form. The state differentiates between a broker and a dealer but I can’t find any Broker license applications. Thanks for any direction and assistance.
Is this a typical requirement from state to state?
I. Temporary Sales Locations: Any licensed dealership may display and offer for sale manufactured homes in a single family residential area specifically designated for manufactured home use.
(1)The dealer shall notify the manufactured housing division in writing, on a form supplied by the division of the address(es) and location where homes will be displayed and offered for sale.
(2)The fee for a temporary sales location shall be $50.00 and shall be renewed every six months.
Re: Dealer License Requirements - Posted by JeffB (MI)
Posted by JeffB (MI) on March 26, 2006 at 07:01:09:
Yes, surety bonds are a common requirement in many states according to what I’ve seen and also read on this forum.
That form is a piece of cake. But if you THINK it’s a big deal and that it will stop you from doing deals, then you’re right! Michigan’s process is much more ambiguous than yours and I still managed to stumble through it last year. Have you done a deal yet to even know if this is something you want to pursue?
The bad news is that it appears to be very tough to acquire a dealer’s license in the State of NM.
The GOOD news is that it should reduce competition in the market. I figure that the requirements (probably by design) would scare away most people that are looking into the business or force them to operate illegally, which may reduce their activity in the market.
It also seems that having a license would add legitimacy to your operation, which may help in dealing with Park owners/managers as well as buyers/sellers.
Does anyone know how long the process of getting a license typically takes (assuming that the test is passed on first attempt)?
Again, the following is an exerpt from the The State of New Mexico Manuf. Housing Rules and Regs. Would you even bother with this? It sounds like a typical LD would sell before the paperwork could be submitted. It seems like this is an example of the difference between what “John and Charlie” would do according to Lonnie.
Thanks!
I. Temporary Sales Locations: Any licensed dealership may display and offer for sale manufactured homes in a single family residential area specifically designated for manufactured home use.
(1)The dealer shall notify the manufactured housing division in writing, on a form supplied by the division of the address(es) and location where homes will be displayed and offered for sale.
(2)The fee for a temporary sales location shall be $50.00 and shall be renewed every six months.
Posted by Don Wilson on March 28, 2006 at 22:00:06:
When I started looking into this business last year I had the same questions…Licensing. Here is what I found out: 1) GOTC and buy your first Lonnie Deal 2) Sell it to a qualified family for a small downpayment and a monthly amount thats doable for them 3) Learn from yours and others (the forum) mistakes and do it again.
If you are good at it and like doing it then go and get a license. If you don’t like it and your terrible at it then find something else you can do.
Here’s what Ive learned about the people business (sales). Some will, some won’t, so what!..next The point here fellas is that most people do not get out of their comfort zone (couch) and try new things because of fear! (F-alse, E-videce, A-ppearing, R-eal). I have worked with hundreds of people that want to make lots of money but when they find out it requires change (getting out of their comfort zone)they start justifing there J.O.B. (J-ust O-ver B-roke). “Well I guess its not so bad I have benefits, retirement, senority etc… I think I will just stay here because its too difficult to do this new thing.”
Nothing good comes easy!!! If its easy, its sleezy! Now when I ask people about a new business opportunity or another investment…How hard is it? If they say its easy my response is…no thanks Im looking for something thats hard as hell, that way I know I have a chance to make some real money!
One last thing…Read DOW 3 times before you do anything in this business. This little book gives you a system that is proven…If it aint broke…Don’t fix it!!! What a Biz!!!
Re: Dealer License Requirements - Posted by JeffB (MI)
Posted by JeffB (MI) on March 29, 2006 at 18:33:49:
It’s not on a website (that I’m aware of). You’ll need to call Lansing, the Dept of Labor and Economic Growth (DLEG) and ask them to mail you the information. You should receive it a few days later.
Thanks Don,
The risks that I have taken in my life have revolved around jobs. I got out of the Navy in 97’ and after seeing the world I went back to the comfort of the small town I grew up in because it was safe. I worked in the oil field for 2 1/2 years before I finally worked up the nerve to up and move. I took a federal job over the phone that I wasn’t quilified for and I moved to the big city. That job lead to the job that I am currently working, which is a great “job”. The point of this autobiograghy is that I’m ready to take another chance and try something new. Everything that I have read on this site has been informative and has lead me to dig deeper for more answers. I plan on taking your advice. I will read the books atleast 2 or 3 times and I will go make a deal happen and see if I happen to be good at it. I’m excited to see what life will look like in a year. It may be completely different or exactly the same, which isn’t a bad thing because I have a lot of blessing from a great “job” to, more importantly, a wonderful wife. We’re planning on starting a family soon and I would love for my wife to be able to quit her job and stay home until our kids start school. I think this may be the ticket. Who knows maybe she will end up working with me. With her charm we could probably make a lot more money.
Posted by JeffB (MI) on March 28, 2006 at 22:09:22:
Great post, Don. I’m bookmarking this one for my next bad day (they are few and far between in this biz). There’s certain to be a motivational catch-phrase in there for all occasions! …“if it’s easy, it’s sleazy!”… hah, great stuff, I love it!