Lonnie Deals In Texas - Posted by J. Webb

Real Estate Investing Mobile Homes & Mobile Home Parks
1

Posted by J.Webb on October 07, 2007 at 16:54:48:

Hi Brian,
My questions were answered by several nice folks who I could speak to on the phone. Sometimes a short phone call answers things more clearly than a stack of emails…

Essentially, my concerns were with having to get a reseller’s license here in Texas. Apparently I can do ONE (1) deal in my name in a 12-month period without having to get the license. Plus a 2nd deal is possible as long as it is in my wife’s name. Seems like Texas is making it hard to do “Lonnie Deals”…
I am going to try to do a deal (or with my wife - TWO) and see how they go. Still, I’m going to need to do other R.E. investing mechanisms until the working capital is there to either get the reseller’s license ($275 fee; plus a 20-hour class @ $250; plus $1000 to get bonded) or go on to other investment opportunities.

Hope this info helps others here in Texas. Good luck!
J.Webb

2

Lonnie Deals In Texas - Posted by J. Webb

Posted by J. Webb on September 29, 2007 at 19:25:06:

Hello,
I am preparing to get started with Lonnie Deals here in Texas and had some questions.

  1. As an investor do I need any license to buy a used MH from someone and resell it to another party?

  2. In general, what kind of taxes are involved (i.e. sales tax, capital gains tax, etc.).

Thanks for your help and good luck to all!
J. Webb

3

Re: Lonnie Deals In Texas - Posted by Donovan (TX)

Posted by Donovan (TX) on September 30, 2007 at 21:18:56:

HUNDREDS of posts on this in the archives. Just do a search for “dealer’s license” & Texas, or “Texas Lonnie Deals.”

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Re: Lonnie Deals In Texas - Posted by J.Webb

Posted by J.Webb on October 02, 2007 at 06:01:43:

Hi, I’ve searched the archives but some of the posts are quite old. Is there someone here in Texas that is currently doing Lonnie deals and can get in touch with me via email or phone? I just have a few specific questions. Please contact me at deanreneeproperties@gmail.com .
Thanks and have a great day,
J.Webb

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Re: Lonnie Deals In Texas - Posted by J. Webb

Posted by J. Webb on October 01, 2007 at 07:01:13:

Donovan,
Thanks, I found plenty of info.

Much appreciated!

J. Webb

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Re: Lonnie Deals In Texas - Posted by Brian-TX

Posted by Brian-TX on October 03, 2007 at 20:54:36:

Why don’t you ask your questions here on the forum so that all can benifit from the answers you recieve?

Brian