I own a POH in Florida and I want to convert the park to TOH. I’m working on getting my dealer license so I can sell the homes to the tenants. My question is how should I set up the license. Should I just do it in my name? The park is in an LLC with one equal partner and two minor partners. If I do the park everyone I think will need to get finger printed and will be a bit of a hassle. The other idea I had was to set up another LLC just for the license but I don’t know how that would work when it comes to selling the homes.
It’s hard to get that kind of advice from a forum like this because every situation is different. However, it is very common to set up two separate LLCs – one for ownership, and one for operations. The members do not have to be equal in both LLCs. You could even set up a dealership LLC where you are the sole member, yet any cash derived flows into the holding company, which is owned by all of the members. A lawyer who knows how to set up LLCs can make this work for you.