I'm about to buy my first mobile home to flip. Our plan is to fix it up and sell it. My questions are:
Do we really need to get our dealers license if we plan to do this a few more times?
In terms of transporting a home, is there any specifics we need to know? In terms of if we end up moving an older home that built in the 1960's.
How does a trust help blanket our liability and exposure and should we do that from the very first deal?
Right before buying a mobile home in cash what specific things should we look out for: title/liens, whole home inspection.... anything else that could potentially end up cost us quite a bit?
I think with flipping, you should be ok. However, if you start offering financing for these flips, you may only do up to 3. In order to do more, you may need to register as an LLC. With an LLC, I believe you can do up to 6 deals.
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Really? I looked it up and it varied from state to state. but anyways, from what I read, in California, technically, you can't sell even 1 mobile home with the intention of profiting from it unless you have a dealers license.
Is it practical for you to make it your primary residence while you flip it?
I was thinking about staying there off and on while we do flip it.
So if I go call a mobile home transportation company will they be able to tell me the answers or they just going to move a MH regardless because they know they're getting paid. I guess really then, my question comes down to where do I go to find the source of my information? LOL.
Like today, for example. I called HCD to get some information about transporting a MH and what it entails. She said "we only require you to sign 2 different documents and also send over a report going over an engineered tie down system, but you'll have to call DOT for information about moving." really?? You guys seriously can't give me any info on moving requirements??
In terms of requirements for parks and such, we've essentially grinded the last couple weeks on the phones and called every MHP in our 50 mile radius to find openings and ask questions. So we're well aware that certain parks has certain criteria for moving a mobile home into their park.
In regards to the tongue falling off...lol. Is there a way to detect that before buying it? Like if I had a inspector go out there, would they be able to tell if it's sturdy enough to transport?
Make sure that you check with your county and the one you are moving to. Some counties won't allow moving a MH older than a certain age.
Do any of you know when buying a MH in california, if they have the title in hand does it mean that it's free and clear of any liens?
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