Investor -- dealer? Mr. Garcia please help! - Posted by chill

Posted by Ed Garcia on July 02, 2002 at 09:43:39:

Chill,

Normally I give pretty sound advice. But today, I don’t know if it’s your question or my mood, I feel like telling you to just do what you want to do.

Technically, your activities define the functions of a dealer. On the other hand you own the park and are still considered a landlord. Chill, you don’t tell us how many spaces are in your park or how many more deals you plan to do. If you plan to do 5 deals or more, I might, (notice I said might) consider getting a dealers license. If you’re just doing the one deal or maybe a couple more, I wouldn’t lose any sleep over it.

Chill if this is really a concern to you call the DOH (Department Of Housing).

Ed Garcia

Investor – dealer? Mr. Garcia please help! - Posted by chill

Posted by chill on July 02, 2002 at 08:51:18:

We own a mh park and have put a couple of mhs in and have set up lease-to-own options. That has worked ok, but now we want to use an investor to add another home. If the investor buys the mh and carries the note (which we found and will have moved and set up and sell) and we get a portion of the profit in the sale for our services, does that make us a dealer? We don’t want to be a dealer.

How could we structure this?

Thanks.