Out of State Mobile Home Deals and Multiple Business Licenses - Posted by Angelia Clayton

Real Estate Investing
#1

Posted by IdahoRob on March 14, 2000 at 19:49:57:

Angelia
This is a touchy subject so here is some things for you to think about. If Greentree takes a mobile home back and resells it for more than is owed on the present loan are they a dealer. They have hundreds of mobile homes for sale at any given time all over the United States. I bet you will not find one State that they are listed as a dealer.

What i am getting at here is talk to park managers in the terms that you work for a small Finance Co. -which make loans on mobile homes — and the way it does that is to buy the home and Finance it.
A Dealer buys homes to make a profit on a one shot sell-- where The finance Co. Pays him at closing. And the Finance co. Makes money on the note just like you do.
Why not see what Tenn. regulations are as a Finance Co. are. I have in my state and is the way I choose to go.

IdahoRob

#2

Out of State Mobile Home Deals and Multiple Business Licenses - Posted by Angelia Clayton

Posted by Angelia Clayton on March 14, 2000 at 12:59:53:

We have just moved one mile across the state line from Alabama into Tennessee. All of our mobile home deals have been in one park in a four-city area of Alabama. These cities have grown into each other, thus appearing as one larger city. Three of the four cities are located in one county with the largest of the cities in a separate county. We have our AL dealer’s license and want to start utilizing other parks in the area.

Does anyone know how we handle the city and county business licenses since we live out of state? Is the rule that we are required to have a busines license in every county and city that we have “purchased” and “sold” a home?

I keep envisioning our friend’s carpt cleaning business, which has a license only in the city in which his actual business is located and has workers dispatched into all four cities.

Any help would greatly be appreciated.

Thanks,
Angelia