Questions on Lonnie deals in NY - Posted by Tom


#1

Posted by WadeFL on December 12, 1998 at 19:04:22:

Hi:

I have read both of Lonnies books and they are great. I live in Fort Lauderdale, Fl which is a tropical paradise all year round! Went to the beach today and the water was lukewarm, limegreen and calm…PARADISE!

Anyway, based on the information that I have read from his books and information that I have gotten from this website, you may need to contact the Division of Motor Vehicles and Department of Real Estate in your state…usually located in the State capitol…

Even though mobile homes are not considered r.e…the Dept. of R.E in your state may now the answers to your questions…

I have been operating a small corporation for about three years now…I am 27. I have been able to reduce my tax liability significantly as an S corporation. It also helps to ensure your privacy and less liability.

I would STRONGLY suggest that you do your business deals under a corporation or land trust. Check out Mr. Bronchick courses on this site. He is very knowledgeable regarding real estate law…PLUS he is an investor!

He is a real estate investor and attorney…awesome combo…saving up to buy his lease option workshop course for Christmas…my gift for my future!!!

Nowadays it is really easy to for a corporation: you can get a kit from your local stationary store with CD Rom for computer printout of applicable forms or use one of those services you see in the newspaper…INCORPORATE FOR $99! Most of these services are law firms with high volume incorporation services. They will usually do everything for you including ordering your corporate stamp. I personally used an attorney and I feel good that I can call on them if I need legal advice.

You will have to go to your Occupational License office in your city and secure a county license.

Good luck and happy holidays…

Wade
Fort Lauderdale, FLa
"Santa is going to be wearing beach shorts down the
chimney!"


#2

Questions on Lonnie deals in NY - Posted by Tom

Posted by Tom on December 12, 1998 at 15:12:42:

Hello,

I’m reading Lonnie’s 2 books and have some questions.
What kind of license do I need to start buying and selling
M/H’S in NYS. Will I need a dealer license and a small business license or does that depend on the # bought and sold? Any info such as who to contact would be helpfull. Thanks.

Tom