Laws in Washington State (Jacque, Mike, Scott) - Posted by Stan (WA)

Real Estate Investing Mobile Homes & Mobile Home Parks
#1

Posted by Stan (WA) on July 21, 2001 at 11:43:17:

Thanks for the information. I will check with the dealerships in my area. I haven’t ordered the packet yet, but will do so shortly. Any other advice on doing business in WA?

I’m on the other side of the Sound around the Kent Valley.

Thanks,

Stan

#2

Laws in Washington State (Jacque, Mike, Scott) - Posted by Stan (WA)

Posted by Stan (WA) on July 18, 2001 at 24:25:44:

I want to start investing in mobile homes so I started investigating the regulations and discovered some interesting information about Washington State.

I’m not an attorney, but the way I read the regulations you must be a dealer to conduct business as discussed in Lonnie’s books. This isn’t a big deal but the requirements are to post a $30K bond, $500 license fee (in addition to business license), and maintain a place of business in an area zoned for commercial businesses with several other restrictions. Otherwise you can be charged (probably wrong terminology) with “curbstoning” (the term in the RCW) if you do 5 or more deals a year.

My question is, how are others in Washington State dealing with this? Have you had any problems?

Thanks for any information.

#3

Re: Laws in Washington State (Jacque, Mike, Scott) - Posted by Jacque - WA

Posted by Jacque - WA on July 19, 2001 at 12:52:09:

Hi Stan,

I have a dealer?s license through a mobile home dealer located in Bremerton. They charge me $200/year plus referrals back and forth (I buy the older ones ? they sell the newer ones). This doesn’t include the states fees. Have you ordered the packet yet? They require a credit/criminal check and it takes a little bit of time.

Others are simply ignoring the dealers license requirements - the fine is $100 per year if they even catch you. I know one guy who has been doing it for 3 years and never had a license, never paid a fine. However, I am NOT recommending this as the way to go.

You may call around to some of the dealerships in your area. I have tried to get some licenses through the company that I am using but they want to only have 1 or 2 people go through them for some reason.

Where are you at in Washington?

Good luck to you - the business here has been really good to me and I’m sure it will be to you as well.

Jacque