Question for Blane or Thane...... - Posted by Jay(MI)

Posted by Jason on November 15, 2001 at 11:19:21:


I have found the answer to my questions. I wouldn’t mind sharing the info with you… Shoot me a email…


Question for Blane or Thane… - Posted by Jay(MI)

Posted by Jay(MI) on November 13, 2001 at 06:05:46:

Hello gentlemen,

I have lonnies course on order and hope to have it in a day or two. I understand I need to be licensed to invest,buy or sell mobile homes, which seems pretty straight forward. My question is that I was told by another poster that I also need to be licensed as a lender if I provide owner financing. I find this hard to belive as these would be secondary market deals and I would be creating my own notes. Even operating under a corporate structure like a LLC or S corp shouldn’t cause a need for this licensing? According to the michigan state web site and others, secondary note financing is unregulated and there are no licensing laws governing it… Have you guys run into this financing concern… If so, how do you get around it? I cant imagine that all michigan mobile home investors are licensed lenders. I cant wait to get started, but I also dont want to cause problems down the road!!! I thank you for your time…


Re: Question for Blane or Thane… - Posted by Blane (MI)

Posted by Blane (MI) on November 15, 2001 at 21:11:46:


Sorry, I’ve been off the air so to speak. Your poster is wrong, it’s not an issue. And you don’t need to wait for your license to get started. I did some deals before getting the license, and probably other MI’ers did too.

Licensing isn’t a big deal either, you just have to wait for the next MH Commission meeting before you’re approved. Feel free to drop me an email if you have other questions.


Re: Question for Blane or Thane… - Posted by Kevin B

Posted by Kevin B on November 14, 2001 at 23:14:28:

Great question. We have the same question as we are about to get started in the Detroit area.

It looks like the Michigan Mobile Home Commission dictates most of what you are asking but could use some verification from some the MI experts out there…


Re: Question for Blane or Thane… - Posted by Kurt Smith

Posted by Kurt Smith on May 04, 2006 at 09:32:41:

Blane, I am in Lansing Michigan and I am trying to get educated a little bit before doing my first deal. Could I email you directly. This is embarrassing but half the time I can’t find the thread I was on in order to see a response to my questions. Thanks