New to Pennsylvania and REI

[Kenneth Burton]

My name is Ken Burton. I just recently found BiggerPockets while researching PA real estate and manufactured home laws & regulations. Needless to say I am overwhelmed right now.

My background. I retired at age 55 because I had more income than expenses because everything is paid off and I don't borrow money. I am originally from Texas but recently moved to PA (Perry County area) to be around the grand kids. My only investing experience is with stocks, bonds, currencies and commodities. I don't need that stress any more. And, quite frankly I need to do something that doesn't involve sitting in front of a computer all day. I am currently, 59. that magic age where you can start pulling money from retirement accounts without penalty. So I have decided to pull some of that money to build a passive stream of income for my wife. Just in case something were ever to happen to me I could die knowing she would be financially secure just with that income coming in every month.

My wife is pretty well versed on manufactured homes. And, after looking at her numbers we decided to retire in a mobile home because it made financial sense (taxes only go down in the long run). And, it fit with our financial plan of keeping living expense lower than income.

The reason I decided to join BP was because the state of Pennsylvania is a completely different animal than Texas as far as the legalities, fees, licensing, company creation, etc. For example, after reading through the statutes till my eyes hurt I finally figured out I would have to have a automobile dealers license (which requires a place of business) just to sell more than 3 mobile homes in any 12 month period. So, I am here to try and learn, hopefully in a more compressed way, how to start a mobile home rental business legally. I have already had sellers that want to sell me their homes. But, being the conservative investor that I am I don't want to even get involved in that until the business is set up properly, especially with the 3 home limit.

So any help getting pointed in the right direction to getting set up to do mobile home investing in PA would be greatly appreciated.