Posted by Brad MN on July 12, 2000 at 23:21:33:
Lyal,
I would like to know some of your ways around this to.
Minnesota transactions - Posted by Greg
Posted by Greg on July 11, 2000 at 09:55:35:
HELP! Myself and a partner are currently trying to start up doing Lonnie deals in Minnesota. I’m running into ALOT of differing opinions regarding rules and regulations from people within Government (imagine that). I get a different set of rules to follow each week. Problem is, I’m a licensed real estate agent and don’t want to do anything that would put my license in jepordy.
I really need to hear from someone in the state of Minnesota who is already doing Lonnie deals. How did you start, what special rules and regs did you need to observe, etc… Please get back to me. I have several good deals waiting, but want to do everything by the book to avoid problems.
Re: Minnesota transactions - Posted by Kerry
Posted by Kerry on July 11, 2000 at 19:12:06:
Greg,
Your caution concerning doing deals in Minnesota is warranted. You will find the answers you are looking for by calling 651-296-4639 or1-800-627-3529 and requesting the “Department of Administration Building Codes & Standards Division Manufactured Home Sales Chapter 327B”
This contains the rules for selling mobile homes in Minnesota. Briefly, in order to sell even one home, you must be licensed as a dealer. You cannot be licensed as a Dealer unless you have been employed as a mobile home salesman for two years under a registered dealer. That lets most of us out.
There is an exception for Real Estate Brokers and Salespeople, but I would talk to the people at the above telephone # about that. Also, a park owner can get a limited dealer’s license for his park.
Doing deals the “LONNIE” way doesn’t seem feasible in Minnesota, unless you are a realtor or park owner. I personally talked to the State and there are NO exceptions (except as noted above) to the 2 year sales rule for a Dealer’s license. All of the parks I’ve talked to in the Metro don’t allow rentals, so that puts a damper on a lease/option.
Order the manual–it is free.
Anyone in Minnesota KNOWING any way around this requirement PLEASE let me know.
Kerry–Minnesota
Re: Minnesota transactions - Posted by lyal
Posted by lyal on July 12, 2000 at 08:06:25:
Kerry, Send me an email at keninvestinc@yahoo.com and we can discuss this.
Lyal
Re: Minnesota transactions - Posted by Ernest Tew
Posted by Ernest Tew on July 12, 2000 at 06:26:55:
My partner and I own a large mobile home park in Marshall, MN. He is a lifetime resident of Minnesota and a park consultant. And, while not actively involved, I belong to a Board of Realtors.
I plan to be in Marshall on Monday and Tuesday (July 17 and 18th). We recently acquired the only park in town, have numerous vacancies, and are in the process of doing a “turn-around.”
We would be happy to meet with you and discuss any arrangement that would be mutually beneficial.
Please call me at (352) 475-1280 or send e-mail.