Question on Option/Lease - Posted by Samw

Posted by Jon B on June 30, 2003 at 21:12:29:

I have a quick question for you if I may? How would you find a dealer/broker & partner with them? Exactlt how would you do this & what would you offer them & what exactly would they give you? Basicly how would that work & the benefits? Any help would be greatly appriciated. Thanx all

A1C Jon B

Question on Option/Lease - Posted by Samw

Posted by Samw on June 29, 2003 at 13:31:38:

I recently bought the How to get rich by helping others book by Ernest Tew, and I have a question on the Net lease option.The question is more geared towards how the Net lease option is able to bypass the Florida licence requirement?

For example if I enter into a Net lease option with say 2 buyers over the year and both are net lease agreements where the tenant/lessee has the option to exercise their right in 5 years.And assuming they did execise thier option they will be basically take over the title of the mobile home at the agreed option price.When they do that,will I still be treated as a dealer as I am transferring the title to two mobile homes in that given year?
I do understand the benefits of selling on option/lease as it will go around the 6% sales tax and all the benefits but Iam not sure about what I meantioned above

Would appreciate all responses…

Re: Question on Option/Lease - Posted by Gary Fl

Posted by Gary Fl on June 29, 2003 at 18:14:52:

Florida law is pretty rigid, however after getting my dealer license I believe I would have been better off to partner with a dealer/ broker to avoid the overhead. Do the first deal and look around for a broker/dealer that is not threatened by you. Ernest’s materials are top notch and he is a wealth of information.I put high value on anything he says.He has stated that the enforcing of the law seems to happen when someone ( read competitor or unhappy customer) turns you in. Most customers will not know to do this, but for the timid ( like me)there are ways to cover your fanny. Gary