Posted by Daniel-MO on January 24, 2003 at 18:43:18:
I still have yet to make my first deal. I’m waiting to meet with a PM who is a little hard to get to but could be a good lead. We’re stuck in snow & cold weather in St. Louis at the moment.
Anyway, I did some checking in MO and after 3 deals, you need a dealer’s license, a business location, pay state fees, etcetera.
Note that you don’t need any of this for your first deal or two. Even then, one might set up a couple of different LLCs or I might do three deals in my name and three more in my wife’s. I figure if I get that far, paying the fees to the state, etcetera will have its advantages (not having to pay sales tax twice, for example).
In any event, people who own MHs sell them all the time without a dealer’s license, because they’re selling one.
My plan is to sell one or two, see how it goes, and then “go pro.”
I be Iowa, and every other state that requires licensing of used MH dealers has a minimum number of sales before you must register.
I’m sure other folks on this board know more about this than I do, but I thought I’d pass that along, FWIW.