Posted by ScottS(NC) on February 13, 2002 at 18:48:10:
Gerry,
Thanks, yet another reason to avoid dealer status as long as possible. Thanks Again, Take Care ScottS(NC)
Karl K. question for you? - Posted by ScottS(NC)
Posted by ScottS(NC) on February 11, 2002 at 18:39:06:
Karl,
Thanks for all the recent posts, Good Stuff, please keep it up. Awhile back I believe you said you were still dealing without a license. I am quickly approaching my 20th deal and I havent had any problems but dont want to invite any either. I have called my states licensing agent and after explaining what we do they all give me diffrent answers to whether we should seek a dealers license. I am not intrested in seeking a license just for “bragging rights” or status so I figure I will get licensed when it becomes a requirement for lonnie deals and not before. I would be intrested in knowing your current status and view on this subject. And any other experienced lonnie dealers that are avoiding the dealer issue I would be intrested in your views as well Thanks Karl and any others. Take Care ScottS(NC)
No license yet - Posted by Karl (Oh)
Posted by Karl (Oh) on February 11, 2002 at 23:01:51:
I’m still plugging away without one, for the same reasons that you mention.
However, Ohio watered down their Used Mobile Home Broker’s License requirements. You don’t need to keep office hours anymore, or have an inventory lot - the two requirements that would keep most of us from qualifying. You do still need an office separate from your residence, with a business sign. The one big park I work has offered me office space in their building, but I just can’t post a sign out front. If I have to get a license some day, I’ll have to figure out how to work out this office space problem.
I’m approaching 70 deals, and I have yet to have anyone ask me if I had a dealer’s license. The folks at the county auditor’s, treasurer’s, and title offices all know me, they either assume I’m a dealer, or just don’t care.
I heard that Ohio created a new database last year that lets them sort title info by the number of titles all non-dealer’s have transferred. There must be a couple of us Lonnie Dealer’s at the top of that list screaming for someone to investigate. I’ll probably hang tight until I get that call from the state.
Karl Kleiner
Re: No license yet - Posted by Jeffrey
Posted by Jeffrey on February 12, 2002 at 17:54:59:
After 20 deals wouldn’t the sales tax savings pay for the cost and hassle of getting a dealer’s license? Seems that a buyer who want’s to back out of a deal could wreak all kinds of havoc and obtain leverage through “blackmail” if they’re savy enough to figure out that you’re brokering without a license. Then again possibly I should just shut up because I have yet to do one Lonie deal!
Jeffrey
Re: No license yet - Posted by ScottS(NC)
Posted by ScottS(NC) on February 12, 2002 at 16:16:43:
Karl,
Ohio sounds very similiar to NC I am going to continue “investing” as well, until I must be labeled a dealer. I have been told by a DMV officer that a garage with a seperate outside entrance would qualify here, just an FYI. Take Care and Thanks ScottS(NC)
Re: No license yet … So what??? - Posted by Paul(TX)
Posted by Paul(TX) on February 12, 2002 at 10:33:06:
Karl:
What you’re saying here seems to tie in with an online argument that Lonnie had recently with another investor.
There seems to be a lot of things that a County or State government COULD do, but I wonder how many investors have actually been “hauled off in shackles and tortured by the mobile home police”? Even talking with numerous State employees seems to produce a number of different responses!
It seems like you just have to take a gamble … and wait for them to come knocking. Otherwise you can very quickly talk yourself out of this business!
Reminds me of “Better to ask forgiveness than permission”.
Thanks for your other excellent posts and also look forward to Chuck’s perspective on this one.
Regards.
Paul
Re: No license yet - Posted by Karl (Oh)
Posted by Karl (Oh) on February 12, 2002 at 23:09:51:
Jeffrey,
They did away with the sales tax on used mobile homes several years ago. But we still pay a $1 per $1000 conveyance to the auditor. So I can transfer any mobile home title for aproximately $20-$40.
Buyer’s don’t know whether I’m license or not. They don’t ask those kinds of questions. Besides, I’m not brokering, I’m selling my own homes. I’m more concerned about a buyer backing out of a deal and trashing a home. That’s a more likely problem.
Karl
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Re: No license yet - Posted by ScottS(NC)
Posted by ScottS(NC) on February 12, 2002 at 21:08:16:
Jeffrey,
I only have to pay the title transfer fee on used mobiles in NC as far as I know. The DMV does not ask for a sales tax only the transfer fee. I believe the diffrence is new mobiles versus used. Of course I could be wrong I am learning as I go like everybody here. Take Care ScottS(NC)
Re: No license yet - Posted by Gerry (NC)
Posted by Gerry (NC) on February 13, 2002 at 12:37:01:
Mobile Homes sold by a dealer in North Carolina are subject to a 2% sales tax with a $300 maximum… If the MH is purchased from an individual or someone other than a dealer then no sales tax is due.
Best wishes Gerry(NC)