All Forum Posts by: Sheena Prattis

Hi, thanks for the information. Yes, I actually did ask about both- being able to buy and sell, and also being able to finance the homes and was told by the State of Florida and the Compliance Officer that I would need to contact the Real Estate Commission regarding the ability to finance.

I've read quite a few posts here on mobile home investing and I know for a fact, living in Florida requires you to get a license for ANY mobile home bought and sold as an investment opportunity. According to Florida law, anyone who buys, sells, or deal in mobile homes must become a dealer. I have spoken to several representatives from the State, the compliance officer for the region, and the instructor for the mobile home licensing course and all have told me that I am not allowed to buy more than one MH and sell it for profit without a license. I've had my license for two months and have been trying to find a loophole where I'm actually able to buy a home and finance it but I'm being told I cannot do that either. I'm also told if I upgrade my license to a dealer, I would be able to do more, but still didn't get a definite answer as to whether I can finance, advising me to contact the Real Estate Commission. I'm in a situation right now where all I'm doing is advertising to bring the buyer and seller together; no real money to be made right now until I can get more opportunity. I talked with the licensing instructor last week and he told me the law has been revised to provide more opportunity for broker and I'm actually able to buy a MH, assign the title in my business name, and when I sell, re-assign it to the new buyer. Still not clear because the compliance officer is saying totally different.
For anyone who has the idea of investing in mobile homes in Florida, be aware of the licensing law.

Thanks again for the information.

Understood... I was thinking about this whole process earlier and realized that was the missing piece to my puzzle- find properties with no realtors assigned. I had even read that earlier in my research- don't know how I forgot that... thanks

Yes, you're right. Pretty new to this so if I get a few that's giving me the cold shoulder, I would naturally think most. I'll keep checking... thanks

Just beginning to learn about investing. Been reading on wholesaling and contract flipping. I talked to a realtor yesterday who basically made me rethink what I'm trying to do (dream buster). He told me that he was working with a man who tried doing the same thing and for two months, he and the guy would meet twice a week. He never made any $$ because the guy wasn't able to locate any property where the seller would allow the contract to be sold, plus most realtors are not agreeable with it. He wasn't totally sure what the client was initially doing because he was never direct about it, but eventually he figured it out. He said this type of business (flipping contracts) is more difficult to perform than any other real estate deal. He did tell me about the ABC transactions with short sales but you need thousands of dollars to purchase the home in order to resell it. Florida, he states, is very competitive in real estate, and there are many investors with huge amounts of money; basically if you don't have thousands of dollars to invest initially, you won't get much assistance. In fact, I contacted a couple of title companies to get information on their services and mentioned what I wanted to do (assignment of contracts) and never got a response back. I can't avoid what I want to do so I've been honest with anyone I speak with. I'm not asking anyone for a handout and I believe in bootstrapping my way if necessary, if that's what the environment calls, but there must be an easier way for the little people like me to connect to someone that can at least be a mentor and say 'yes' or 'no' from time to time as I find my way. Many investors have been in the same position that I've been years ago. Then again, many people forget that's where they once been.

Do most title companies refuse to do business with investors who are engaged in assigning contracts?

OK, thanks... I believe it was your seminar I listened to on Sunday.

Hello all,

Ok- I'm pretty sure this topic has been discussed many times as well as the answer to my question... thanks to this site, I received an email on Sunday inviting me to an online seminar about contract flipping. I listened to the seminar. I had been reading on flipping homes (contracts) for quite some time but now would like to get started. I pretty much understand the basics but have one question that's confusing to me- where should I look for a title company; should it be in the state where the seller is located or where I'm located? I don't want to sound naive but I guess I am in this industry (won't be naive for long though) . Any feedback will be much appreciated

Well, I totally understand. I'm pretty new to this site but there is alot of information that people have been willing to share. Maybe we'll come across some real good information on this (making deals w/o any of your own $$).