Posted by Andy (NC) on April 19, 2007 at 09:01:18:
Hey Ryan,
Thanks for the response! I am located in Asheville, NC.
Documents and Dealership questions for NC? - Posted by Andy (NC)
Posted by Andy (NC) on April 17, 2007 at 14:46:45:
Howdy all.
I’m just getting started in the MH business in North Carolina, and have some questions for anyone kind enough to answer:
(1) Are Lonnie’s documents good as-is for North Carolina, or do I need to see a lawyer and have the documents modified (e.g. purchase agreeement, sales agreement, prom. note,lot rental agreement, etc)? Are there usury laws in NC, and what is an appropriate interst rate for mobile home notes (I am in Western NC)?
(2) I understand it that if you sell more than 4 trailers a year in NC you must become a dealer, which involves having a seperate office zoned appropriately for dealership use. I have heard of people using storage units for this purpose just to satisfy NC’s requirements. Has anyone solved this issue in a creative way that satisfies the NC DMV?
If anyone has any info on these items I’d be much obliged!
Happy investing,
Andy
Re: Documents and Dealership questions for NC? - Posted by Ryan (NC)
Posted by Ryan (NC) on April 17, 2007 at 19:56:47:
Andy,
There is a lot of view points on the dealer issue in the archives, spend an hour reading and you’ll have more view points than you’ll know what to do with.
Lease options are IMHO the best compromise as of right now. you wrote that you are in western NC, there are several of us in the area… where abouts are you located?
Best wishes,
Ryan Needler