Posted by Philip on April 12, 2004 at 18:23:05:
In Missouri if you do all that work, but still have the same physical address (wife), then it will be seen as your own sale quite possibly.
That is what some folks with more experience tell me, anyway.
Since I do not have my own park and have not secured a dealer’s license yet, I have to do a few L/O’s and 3 sales per year…that way I don’t go over the limit.
I am going to get my dealer’s license, just have procrasinated.
Also, currently, I am doing a few deals that will actually BE my folks as primary investor, with their money and my work involved. I can get buy with that.
Lonnie Deals in Ohio? - Posted by Bill Kenn
Posted by Bill Kenn on April 12, 2004 at 12:11:59:
Ordered and read Lonnie’s books. Fired up and ready to go. Contacted Ohio BMV and was informed that I need a dealers license to buy and sell used mobile homes in Ohio. Requires 3500 sq. ft lot, sign, office, etc. Requirements seem unreasonable. Would appreciate any help and advice.
Re: Lonnie Deals in Ohio ? - Posted by Keith (OH)
Posted by Keith (OH) on April 13, 2004 at 19:16:45:
We fall under one of these 2 categories;
You are required by the State of Ohio to have a license if you;
- “make more than five casual sales of motor vehicles (inluding mobile homes) in a twelve month period…”
- “engage in the business of brokering manufactured homes…” where;
“Manufactured home broker” means any person acting as a selling agent on behalf of an owner of a manufactured or mobile home that is subject to taxation…"
So what happens if you get caught…
Except as otherwise provided in this division, whoever violates this section is guilty of a minor misdemeanor and shall be subject to a mandatory fine of one hundred dollars. If the offender previously has been convicted of or pleaded guilty to a violation of this section, whoever violates this section is guilty of a misdemeanor of the first degree and shall be subject to a mandatory fine of one thousand dollars.
A WHOOPING $100 fine !!
I don’t think I’d worry about it too much.
Re: Lonnie Deals in Ohio? - Posted by Ron F
Posted by Ron F on April 12, 2004 at 21:50:44:
What Karl said!
Keep in mind I’m not an attorney, and my advice is worth exactly what you paid for it, but here it goes…
As a relatively new investor (8 deals and counting), I went through the same questions myself. Ask yourself what benefit a license would give you? Skipping title, saving about $20/deal in conveyance fees/title fees, another set of initials on your business card?
What are the repercussions of not having a license? So far I have found none, but it seems to me that since I’m already paying more on each transaction than a dealer would, maybe I could ask for a refund if the BMV police ever come knocking?
What part of Ohio are you in? I’m in the norhtern Cincinnati area.
Search the archives - Posted by karl (Oh)
Posted by karl (Oh) on April 12, 2004 at 19:17:01:
We’ve had a lot of discussion on this topic over the years. Do a search in the archives for “Ohio dealer license Karl”, you’ll find several strings of discussion that should answer most of your questions.
Ohio offers a used mobile home broker’s license that eliminates the sale’s lot requirement. (Funny that the person you spoke to at Ohio BMV didn’t tell you that). But you still need an office separate from a residence, must keep office hours, have someone answer the phone, etc. Go to the Ohio BMV webpage, you can download the application for the broker’s license from there.
I’ll be interested to see the answer that Keith’s lawyer comes up with, and what he charged him for the info!
I’ll have that answer shortly… - Posted by Keith (OH)
Posted by Keith (OH) on April 12, 2004 at 18:17:13:
I am in the process of having my attorney research that exact question. I should have more info. soon. When I find out I’ll forward it to you.
You prolly got the wrong info - Posted by Briton (IN)
Posted by Briton (IN) on April 12, 2004 at 15:07:28:
I am pretty sure you got the wrong info. First of all common sense tells you that you may purchase and sell a mobile home. There may be a limit to how many you may buy and sell before you must become a dealer. I think in your neighbor state of Indiana it is 10.
Even if the number you may buy and sell is low there are ways around it. A corporation, you, your wife, your trusted parent, brother, ect, Can all do that many as well. If they do the title work you’ll get away with it. Look into this more. Listen to the advise you get on this board and good luck, Briton (IN)
Re: I’ll have that answer shortly… - Posted by Bill Kenn
Posted by Bill Kenn on April 12, 2004 at 18:41:49: