Do I need a Mobile Home Dealership License?

[Philip Lamachio]

I just started reading Lonnie Scruggs book 'Deals on Wheels' on buying/selling and financing used mobile homes. I was attracted to the used mobile home market because of the low cost of entry and the fact that I don't really want to be a landlord.

However, just ran into a small problem. Mr. Scruggs seems to suggest that you need to have a Mobile Home Dealer's License to do this. This will require a $35K 'surety bond' in my state. 

Well, I don't have 35K that I can just let sit in escrow...

Anyone know more about this issue? 

[Philip Lamachio]

Thanks John, yes, I went to John Fedro's site and found that page. 

I think I have a workaround....Virginia allows 5 per year w/out a license, and SC allows 4. My state allows 3. 

I don't see any reason I cannot buy and sell in Virginia or SC as well....that would give me 12 mobile homes I could buy/sell/finance in a year. 

In approx. two years time or less, I should easily be able to have the 35K for a surety bond assuming $200/mo. per note cashflow and holding 12 - 18  notes.