Do I Need A Licenses In TEXAS?
Hi everyone!
I just bought the book "Deals on Wheels" and trying to start building towards my financial freedom. But I do have a few questions.
1) Do I need a licenses to buy and sell mobile homes in TEXAS?
2) If I do, where and how would I get one?
3) Anyone experienced and in the San Antonio Area?
4) if the NADA book worth the $100 price tag?
If anyone can help, please do so! Thanks a bunch in advance. Good luck investing everyone!
1) yes, dealers license
2) dont know
3) yes, but moved
4) yes , if current[ Edited by DaveREI on Date 11/03/2003 ]
I see it from a little different angle than Dave.
As a principal, I doubt that any license is required for you to buy (for yourself), then sell (for yourself), unless you do a large number- which might then give rise to the legal presumption that anybody doing that many deals in given time...IS, per se, a dealer, as per TX law.
And using different legal entities, such as Trusts, or corporations, or LLCs, I'd imagine one could do a great many transactions very legally, with no license.
Suggest you run this by some of the San Antonio area REI group, some of whom will be very familiar with TX statutes and licensing requirements and who can advise you how to proceed. While staying legal.
I've been privy to too many deals where somebody in a state agency makes a blanket statement about what a citizen can, or can'tdo, and half the time they're blowing hot air.
I'll bet I've seen this 100 times...and more often than not, my client, or the citizen who's threatened by the state agency, when he refuses to be cowed by that state agency, never hears from the state a 2d time.
But to be safe, YOU need to find and read the TX MH Dealer law, so you'll know it as well as the state regulators, and can stand up for your own rights.
texas just happens to have a m/h law
Dave and John, thanks for the info!
About obtaining a license, how long does it take to get one and what is the rough estimate on how much it cost?
About the M/H law, where can I easily find a copy of the law? OR the only way is to the court house?
Thanks again!
Also, if anybody anywhere in Texas is dealing with mobile homes successfully, please chime in. I'm still torn as to start with homes (SFH) or mobilehomes.
You don't need a license in texas to buy and sell houses if you you are the person who is buying then selling a house that you own.
Obtaining a license is not that difficult either you can get one really quickly if you take the required classes online then apply have your classes reviewed. Then you apply to take the test. Then you take the test and then you fail the test like 70 perecent of everyone who takes it then you take it again and pass.
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however once you have the license you can't go into business for yourself you will need a broker. Then you have to work for the broker 2 years before you can take some more classes and then take the test for brokers license.
After you have a license then legaly have to disclose to everyone that you are a real estate agent.
The only reason I would get a license would be so that I would have unfilted access to the MLS and eventually to get a brokers license so I could employ realtors of my own.
so if I buy a mobile home in my name or my LLC and quickly sell them, say within 2 months, I don't have to have a licenses? Is there a limit to the number I can buy and sell? My goal is around 4 to 10 homes a month.
That is a little too ambitious, I have been doing this for a little while now and unless you are doing this full time, and/or have the cash, you can expect to do about 1 a month. Rember, the selling part is the EZ part, it is all the other stuff that gets in the way.