Seller Financing
I am in Grand Rapids Michigan just about to jump into mobile home investing. There is still one issue I am uncertain about and that is licenensing and seller financing. I've been picking up different stories from all over the place so im not sure what and who to believe.
My business plan is im sure like many others and that is to buy low preferably with owner financing then sell imediately with owner financing.
What I have found thus far is:
1) I need to aquire a dealer's license even to do only 1 deal per year. (which has a $450 pricetag, plus a $10,000 surety bond, and escrow acnt)
2) I need to find a licensed MLO or become licensed myself to negotiate and handle any sale terms with potential buyers.
Im not asking for a way around the law but there has to be a better way.
I have some money in the bank (not much but some).
I have some marketing material ready to go.
I have the drive and motivation.
Just lacking the direction I suppose.
How are other MH investors in Michigan doing these deals?
Any information, guidence, suggestions, etc would be greatly appreciated thanks in advance for reading and your input.
Adam