OK NOW What Am I Supposed To Do? - Posted by Thane, MI

Posted by Karl (OH) on December 18, 2000 at 22:26:55:

You don’t need a license in Ohio, and there’s not as much snow.

Karl Kleiner

OK NOW What Am I Supposed To Do? - Posted by Thane, MI

Posted by Thane, MI on December 18, 2000 at 13:36:26:

After attending the CRE conference last February and reading Deals On Wheels, I decided to get started. I bought and sold 2 Mobile Homes using investor’s money and now have a much better net worth as well as cash flow.

Understanding that I shouldn’t do more than 2 or 3 deals without being liscensed, I began the process 2 months ago. I live in Michigan and one thing that is required is to have a surety bond or $10,000 cash. I don’t have $10K (that’s why I wnat to do more MH deals) so I applied for the bond. Every company is refusing to issue me a bond.

I am not a home owner so my “net worth” is not at least $10k. For this reason they will not bond me. THAT IS WHY I AM DOING MOBILE HOME DEALS… TO INCREASE MY NET WORTH. Now they tell me that I need to increase my net worth before I can do Mobile Home Deals. I am stuck and feeling very frustrated.

Can sombody PLEASE tell me what I can do?

Without trying to sound like a lawbreaker… - Posted by Blane (MI)

Posted by Blane (MI) on December 19, 2000 at 15:34:23:

Hey Thane,

I’d just keep doing mobile home deals. I’ve got 4 under my belt downriver here now, and every once in a while I take out my dealers license application and look at it. And then put it away.

Now granted, I’m a homeowner so I may not have your problem in the future, but to date not being a dealer has had little effect on me. Got kicked out of 1 park, and another one requires a security deposit 'til I get a license, but other than that, nothing. A snotty wench at Conseco in Livonia said I couldn’t get their repo lists without a license, but I just called one of the other reps, and he dropped it in the mail.

One of these days some of us should take Karl up on his offer to work in Cincinnati. With all the business he has, what the heck? It’s only a 3 hour drive for me on a good day, and all this shoveling has gotten a bit old. Careful what you wish for Karl!!! :slight_smile:

Keep at it Thane and good luck.