Posted by David Alexander on January 04, 1999 at 13:56:02:
No, the actual conversation has to do with the ongoing
thread of the Dealer Liscense, that you can only do 1 deal that is sell one Home without a liscense, and, in Texas if you have a Dealers Liscense there are some quirks about actually having to have a seperate liscense for each home, this would greatly slow you down. I was trying to give some ways for them to get around it, or still be able to deals.
Buy the MH and L/O it out, you would get the same cash flow effect.
Have the Seller put in a trust and assign the beneficial interest to you to hide the ownership.
Try to find someone else’s liscense to work under.
You work out a cash price with the Seller, market it and Have the Seller sell the Home to the New Buyer and you buy the note.
My saying what I said about the liability was actually
just regarding what Lonnie says. He prefers to sell them on a note than keep the liability by keeping ownership of them. He doesn’t rent them out because
that could be a lawsuit waiting to happen. I personally don’t want to reinvent the wheel of where
people like you, Lonnie, Ed, Terry, JP, John, Bud and everyone have been.
I probably didn’t word my post correctly. So, correct me and enlighten me.