Lonnie Deals in TX, still looking for some answers - Posted by MarkHOUTX


#1

Posted by Dan on December 14, 1998 at 19:26:27:

This sounds like a good idea, but how do get around the

different location rule? If the MH is located in a park other than where the dealer has set up his operation?


#2

Lonnie Deals in TX, still looking for some answers - Posted by MarkHOUTX

Posted by MarkHOUTX on December 12, 1998 at 22:27:23:

Can some experienced person doing Lonnie deals in Texas tell me how you are doing them? Did you get your dealer license? Or have found a method to get around that? I realize lease/options is an opportunity to work around the license issue. I’m interested in hearing how some successful rei’s are doing these Lonnie deals in Texas. I went to the dealer class in Austin and I’m having trouble getting the bond. Plus TDHCA said I would have to move the MH to my dealership lot (of course, I don’t have a dealership lot), or get a license & bond for each MH I buy/sell in a park, or transfer my license & bond from used MH to used MH as I do deals (takes 2 to 4 weeks). All 3 of these rules are ridiculous and prohibitively expense. How are you guys doing it here in Texas? If you prefer, send me an e-mai with your phone number and I’ll call you for the details on my nickel. Thanks in advance for any help you provide.


#3

Re: Think Creatively!!! - Posted by DanM(OR)

Posted by DanM(OR) on December 13, 1998 at 10:32:47:

Mark,

  1. I am not in TX
  2. I am not currently doing Lonnie Deals

However, I was very interested in doing them in the begining and spent a lot of time researching it in my state. This is what I did.

I found a dealer, actually a MFR home dealer who has a dealer license, RE broker license, a dealer lot, and a bond. He was willing to let me do deals under him for a percentage of the profit. How much? That’s up for negotiation.

Why am I not doing Lonnie Deals? Well, the town I live in only has a couple parks and used MHs for sale are a rareity.

Decide what you want to do and don’t take NO for an answer!

Good luck!!

Dan


#4

Re: Think Creatively!!! - Posted by MarkHOUTX

Posted by MarkHOUTX on December 13, 1998 at 20:11:09:

Dan, Thanks for the info. I was wondering if any one was doing just what you described. So, I’m glad I’m thinking along your creative lines. Can your clarify the term “MFR” for me? Is that for “manufacturer”?


#5

Re: Think Creatively!!! - Posted by DanM(OR)

Posted by DanM(OR) on December 13, 1998 at 21:11:03:

Mark,

Great to hear it! You are right in does. I meant manufactured homes dealer.

Good luck

Dan