Posted by Ruben (KCKS) on May 29, 2007 at 13:01:58:
Posted by Ruben (KCKS) on May 29, 2007 at 13:01:58:
Getting started again/need advice - Posted by Howard-NE
Posted by Howard-NE on May 29, 2007 at 12:15:03:
Hey folks! It’s been a long time since I posted a message and/or read any info here! I guess this business is still profitable so I need to finally jump in an get started! Ok, I’m in Nebraska but they require us to have a dealers license. If someone could please read the below link and give me some advice on what I can do to jump in, i’d appreciate it.
(click on ‘instructions for dealers license’)
I’m thinking maybe go and talk to a couple dealers and see if they’ll let me work with them?
Re: Getting started again/need advice - Posted by lawbreaker
Posted by lawbreaker on May 29, 2007 at 12:47:16:
Here is a repost of something Lonnie posted awhile back that might help your situation. For me it made the difference in getting started or not.
Once Upon A Time
Once upon a time there were two men named John and Charlie. Both men had finished school after getting a “good education” and was now working a “job”. The problem was, they both worked a job they didn’t like, that paid just enough to live on. But that “job” provided “security and good benefits”. At least that’s what "they: said.
These two men kept hearing about how you could make a lot of money buying and selling mobile homes, so they decided they wanted to give it a try. So they both bought a book that explained exactly how to do this.
John was the type of man that was more concerned about details and paper work and making sure everything was exactly proper and right, rather than just doing a deal and making money. And John also listened a lot to what “they said”.
When “they” told him that this mobile home business couldn’t be done where he lives, John believed it. When “they” told him he couldn’t buy cheap mobile homes where he lived, he believed it. When "they’ told him that he would have all kinds of problems with licenses, paper work contracts, John believed everything “they” said. “They” even told John that people go to jail, and get fined big bucks if you didn’t have a dealers license. Then “they” told John of cases where the buyers stopped paying and just skipped out leaving a trashed home. John was just terrified.
Then John checked with a lawyer who charged him $500 to review his contracts and advise him what to do. (His lawyer knew nothing about mobile homes, but he was willing to do all the research necessary for only $150 an hour, so John wouldn’t get in trouble). Finally John decided this mobile home business was much too risky and expensive. So he decided to keep working his job. After all, he was now making $8.00 an hour and was due for another 50 cents an hour raise next year if his company was still in business. So John kept doing the same things he had been doing, and kept getting the same results he had always gotten. (A small pay check.)
Charlie, on the other hand, wasn’t as smart as John and didn’t even know he couldn’t do these mobile home deals. “They” didn’t tell him it couldn’t be done where he lives, or that he needed a lawyer, or that his buyer wouldn’t pay, or that he could go to jail, and all the other war stories that “they” like to tell. So being a little dense, Charlie just started doing it. After 3 years, Charlie had bought and sold a lot of mobile homes, had created $300,000 of mobile home notes and was getting checks dropped in his mail box almost every day.
Then Charlie decided to do something totally unthinkable…he quit his job!! All his friends and family tried to tell him what a horrible mistake he was making. How could he give up a steady paying job with good “benefits” and even a “retirement” plan when he reached 65? But Charlie was just plain bull headed, and stubborn as a mule and refused to listen to what “they” said. So he quit that job that he hated and was now full time in the mobile home business. Charlie was a now a man without a job. What kind of a future could he expect with no job, no guaranteed benefits and not even a retirement plan.
Everything was bopping along just fine for Charlie. Then one day a terrible thing happened…a man from DMV called and told Charlie he couldn’t buy and sell mobile homes without a license. Charlie said, “A license!! I need a license? I didn’t know that, nobody told me I needed a license. My goodness, what do I have to do to get a license”? The DMV man said, “You have to come in, fill out an application and pay $1,000.” Charlie said, “OK, I’ll be right down, after all I sure don’t want to get in trouble for not having a license.” So Charlie got a license and now he can buy and sell all the mobile homes he wants without worrying about getting in trouble with that bad DMV man.
Now Charlie spends half his time just hanging around the house, going fishing, or waiting for the mail carrier to deliver mobile home checks. And regardless how hard his wife tries to persuade him to get a “real job”, he still refuses to even look for one. What will the neighbors think, Charlie?
Happy investing to all,
PS I never heard anymore about John. He’s probably still working that “good job”… unless he’s been “downsized”.
Re: Getting started again/need advice - Posted by Howard-NE
Posted by Howard-NE on May 29, 2007 at 13:08:24:
That was a great post!!! Exactly what I needed to hear…