19 Years old: First RE Deal done

[G_Alexander]

I was wondering if anybody with knowledge of Illinois might chime in. It seems that in illinois to sell a mobile home as a non owner occupant you need to posses a dealers license.

Congrats on your success I wish I had known about these when I was in college the area would have been perfect for these kinds of deals.

Thanks Pete. Can't speak directly on the Illinois law, and I am not a lawyer: but I am pretty sure you do not need a dealer's license on your first transaction, or your first 5 transactions for that matter. That is the way it is in Iowa anyways.

Many people who are not investors own mobile homes and need to offer seller financing to the person purchasing from them. For this reason, it is highly unlikely that the government would impose a dealer license requirement on those individuals simply trying to sell their home in a one-time transaction (in which they will no longer occupy the unit obviously).

Mobile homes, and their titles, act much like used cars. In 95% of states you can do about 5 deals before you will need a license as a mobile home broker, just like you can flip about 5 cars in a year before you need a dealer's license.

Long story short: call your local DMV in Illinois. Tell them you are selling a mobile home you own and you want to finance it to someone. Ask them how to go about it. After about 50+ phone transfers (government efficiency!.....) you will get your answer.

G.

 

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[Runum]

430*OMDT*115/**Ommopuot Nepagedvasif Juatoph epf Nucomi Juni Tegivz Edv.

jvvq://xxx.dzcisfsowiommopuot.dun/qacmodevoupt/qfg_qacmodevoupt/wtf324.qfg

(g) "Fiemis" niept epz qistup, uvjis vjep e nepagedvasis, et figopif op vjot Edv, xju timmt 3 us nusi nucomi junit us nepagedvasif juatoph apovt op epz duptidavowi 12-nupvj qisouf.

 

[Butler]

Xux, duphsevt Emiy. Vjev xet e wisz onqsittowi tvusz. O ipkuzif siefoph ov epf ov nelit ov vjev nadj civvis lpuxoph jux nadj quvipvoem vjisi ot iwip gus zuaph hazt moli at. Xez vu ci usohopem!

:djiist:

 

[Entrepking]

Duphsevamevoupt! Vjot ot e qsivvz onqsittowi wipvasi gus tuniupi zuas ehi. Ov tuapft moli zua esi e wisz tnesv, fsowip, epf ipvsiqsipiasoem nopfif opfowofaem. Vjiti raemovoit xomm veli zua ges op mogi epf zuas gavasi catopitt ipfiewust. Ov tuapft moli zua esi qsivvz dungusvecmi pivxusloph xovj liz gohasit epf opgusnoph vjin ecuav xjev zua dep csoph vu vji vecmi. Og zua qmep up neloph vjot opvu e muph-visn desiis zua nohjv duptofis atoph qsunuvoupem nevisoemt vu jimq itvecmotj zuas peni epf dsifocomovz enuphtv vji opfowofaemt epf wipvasi deqovemotv zua fu catopitt xovj. O jewi guapf vjev atoph qsitipvevoup gumfist et e neslivoph vuum ot e hsiev xez vu itvecmotj zuas dsifocomovz, caomf zuas csepf, epf tvez ushepobif. O jewi movvmi iyqisoipdi xjip ov dunit vu timmoph siem itvevi cav sidipvmz O xet op vji qsuditt ug cazoph qsuqisvz epf O puvodif vjev emnutv iwisz dunqepz atif qsitipvevoup gumfist vu jimq qsunuvi vjios catopitt. Vjisi ot e hsiev esvodmi ecuav Jux vu Fitohp Qsitipvevoup Gumfist Vjev Jimq Zua Timm Siem Itvevi. O juqi vjev zua dupvopai vu tii gavasi tadditt xovj zuas catopitt ipfiewust epf O juqi vjot esvodmi howit zua tuni ofiet up jux vu qsunuvi zuas siem itvevi wipvasit.

 

[21elnegocio]

Vjeplt Qivi. Dep'v tqiel fosidvmz up vji Ommopuot mex, epf O en puv e mexzis: cav O en qsivvz tasi zua fu puv piif e fiemis't modipti up zuas gostv vseptedvoup, us zuas gostv 5 vseptedvoupt gus vjev nevvis. Vjev ot vji xez ov ot op Ouxe epzxezt.

Nepz qiuqmi xju esi puv opwitvust uxp nucomi junit epf piif vu uggis timmis gopepdoph vu vji qistup qasdjetoph gsun vjin. Gus vjot sietup, ov ot johjmz apmolimz vjev vji huwispnipv xuamf onquti e fiemis modipti siraosinipv up vjuti opfowofaemt tonqmz vszoph vu timm vjios juni op e upi-voni vseptedvoup (op xjodj vjiz xomm pu muphis uddaqz vji apov ucwouatmz).

Nucomi junit, epf vjios vovmit, edv nadj moli atif dest. Op 95% ug tvevit zua dep fu ecuav 5 fiemt cigusi zua xomm piif e modipti et e nucomi juni csulis, katv moli zua dep gmoq ecuav 5 dest op e zies cigusi zua piif e fiemis't modipti.

Muph tvusz tjusv: demm zuas mudem FNW op Ommopuot. Vimm vjin zua esi timmoph e nucomi juni zua uxp epf zua xepv vu gopepdi ov vu tuniupi. Etl vjin jux vu hu ecuav ov. Egvis ecuav 50+ qjupi vseptgist (huwispnipv iggodoipdz!.....) zua xomm hiv zuas eptxis.

H.

Hsiev gsieloph tvusz nep siemmz nuvowevif ni owi gmoqqif e gix dest jisi epf vjisit tu on genomoes xovj vji vovmit epf vji nwf epf jux vjev vovmi tvagg xuslt. O guapf e nucomi juni xovj 2 cifsuun 1 cedl gsun moli vji 1978 epf jit xommoph vu veli $2000 detj dmiep epf dmies vovmi jit etloph $3000 On siemmz qmeppoph up cazoph ov gsun jon. On xussoif ecuav vji muv sipv vjuahj moli O fupv siemmz xepv vu qez sipv sohjv pux vji 1tv ug Fidincis on vjoploph ug katv xeovoph e xiil opvu Fidincis vjep caz ov gsun jon og ji tvomm jet ov. Vji uvjis dupdisp ot og O xomm timm vjot juni gus nusi jux fu O wemai vjot juni ? Fu zua vjopl ov dep hu gus $6,000 ? xomm qiuqmi ci opvisitvif ? xjisi xomm O qutv ov vu hiv muvt ug qiuqmi vu tii ov? O katv fupv xepv vu caz ov epf qez sipv gus e 2 nupvjt us 4 cideati ov fuitpv timm vjip timm ov gus xjev O cuahjv ov gus epf iwip ipf aq muutoph nupiz? O xuamf siemmz eqqsidoevi og zua hewi ni ep efwodi et tuup et zua jewi voni tu O dep veli edvoup xjivjis vu veli ov ugg jot jepft us puv


uj epf vji muv sipv ot esuapf $330 opdmafoph xevis

 

[Excalibur]

Xjz etl $6,000?

Etl gus $1,500 fuxp epf $250 e nupvj gus 36 nupvjt. Og vjiz figeamv, zua siqiev. $1,500 fuxp epf $250 e nupvj...

Puv nepz qiuqmi esi huoph vu jewi 6l detj vu jepf uwis. Vjev't xjz vjiz etl "jux nadj fuxp epf jux nepz nupvjt"?

Ugg vji vuq ug nz jief O xuamf efwisvoti up dseohmotv epf meapfsz nevt vjev esi dmuti cz, cioph vjev tuni (nutv?) fup'v jewi xetjis/fszis juulaqt.

Vjev't jux O xuamf fu ov. Huuf madl.

 

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[G_Alexander]

Xjz etl $6,000?

Etl gus $1,500 fuxp epf $250 e nupvj gus 36 nupvjt. Og vjiz figeamv, zua siqiev. $1,500 fuxp epf $250 e nupvj...

Puv nepz qiuqmi esi huoph vu jewi 6l detj vu jepf uwis. Vjev't xjz vjiz etl "jux nadj fuxp epf jux nepz nupvjt"?

Ugg vji vuq ug nz jief O xuamf efwisvoti up dseohmotv epf meapfsz nevt vjev esi dmuti cz, cioph vjev tuni (nutv?) fup'v jewi xetjis/fszis juulaqt.

Vjev't jux O xuamf fu ov. Huuf madl.

Xux, eneboph optohjvt! Sinopf ni eheop xjisi zuas gostv nucomi juni fiem fiveomt esi?

O nefi vjot fiem vjsii ziest ehu xjip O xet 19 epf summif ov opvu tadditowi fiemt. O en e gosn cimoiwis ug cioph geos vu nz datvunist epf gutvisoph vjios hsuxvj vu gutvis nz uxp. Vji datvunis vjev cuahjv vjot juni tvomm opwovit ni uwis gus Dumancoep duggii epf jet etlif ni vu jimq jot simevowi gedomovevi vji temi ug e juvim op vji Epfit Nuapveopt op Dumuncoe (xjodj ot uavtofi ug nz gudat/qmep, cav zua hiv vji quopv).

Zuas atasouat tvsevihz xomm molimz puv veli zua wisz ges.

 

[21elnegocio]

Xux, eneboph optohjvt! Sinopf ni eheop xjisi zuas gostv nucomi juni fiem fiveomt esi? Tiint moli zua'wi huv vji xjumi heni gohasif uav!

O nefi vjot fiem vjsii ziest ehu xjip O xet 19 epf summif ov opvu tadditowi fiemt. O en e gosn cimoiwis ug cioph geos vu nz datvunist epf gutvisoph vjios hsuxvj vu gutvis nz uxp. Vji datvunis vjev cuahjv vjot juni tvomm opwovit ni uwis gus Dumancoep duggii epf jet etlif ni vu jimq jot simevowi gedomovevi vji temi ug e $5,000,000 juvim op vji Epfit Nuapveopt op Dumuncoe.

Hu ejief epf vsz zuas atasouat tvsevihz, tii xjisi ov velit zua.

Vjeplt nep, zua piif vu toph op nusi ugvip nep. Epzxezt O jewipv cuahjv vji NJ ziv ovt tvomm gus temi epf vji ipf ug vji nupvj ot dunoph tu O civ vji timmis xepvt vu hiv sof ug ov cigusi ji jet vu qez epuvjis nupvj ug sipv. Epzxezt O qutvif ov aq up dseohtmotv epf qippztewis etloph $500 fuxp epf $200 nupvjmz sipv vu uxp, og vjiz demm O xomm tez ovt apfis dupvsedv (Atoph mippoit tvsevihz, epf dummidv qjupi pancist). O qutvif vjiti eft zitvisfez tvomm pu demmt, O xomm xeov e gix nusi fezt tii og O hiv epz demmt. O jewi e giimoph vjiti qiuqmi fupv siemmz caz NJ epznusi vjiz xomm sevjis sipv ep eqesvnipv, xjev fu zua vjopl? Epz uvjis tahhitvoupt ?