Posted by Ray (NJ) on January 20, 2000 at 11:24:17:
You’re asking the wrong guy. I’m just starting doing Lonnie Deals. Thus, the reason for my original questions.
I read in a few places (I wish I could remember and post them here), but there were fines for not registering the “business”, for not being properly “licensed”, for not having the correct “permits”, etc. Actually, I thought I read a post on this site (but could have been a competing site) referring to a California man being fined $125,000 (yikes!) for financing Mobile Home deals (yikes, again!). Now, it could have been due to fraud, or something major, but I don’t remember. I have read in other places about potential fines for not receiving the proper permits before doing deals.
Unfortunately, I can’t VERIFY any of this. This is the only obstacle I have before doing the deals. As a business owner (retail & service businesses), I know how diffcult local and state agencies can be. I just want to cover my rear before doing anything.