All Forum Posts by: Mary Jay

In these cases we just document the situation and the remedies we attempted to make. They don't have a case if you have done everything you said you did. You have done what you can, move on.

Personally, it’s not as difficult as you may think (depending on many factors). I had 3 rentals while working full time. After work, I would go work in the house until ready for showing (houses were in good condition so not full remiss). For showings, I simply scheduled in the evening or weekends. Realize, all My properties are within 20 minutes from my house  so not much travel time. Very rarely are there emergencies, and having a few good contractors takes care of that. Assuming year long rentals (are obviously way more work), you should be able to work a full time job and still manage rentals. I think I could manage 15 or so properties if I had to with a full time job, but obviously need some flexibility in job and contractors you must trust. 

I'm still in the learning phases, but trying to both stabalize my income and also figfure out how I could invest in real estate while working fulltime 40-50 hours a week. I imagine there is a lot of work and things that need to be sorted during the day and cant wait for the weekend. 

So how does one balance a ton of work with starting out buying real estate?

My thought: the majority of business owners know nothing about this requirement. I suspect Trump/Vance will win the election, and this useless law will disappear.

@Nathan Gesner  I concur it is a useless law.  It is supposd to catch money laundering, but it exempts any company with more than 20 employees and grossing more than $5 Million.  Does that mean that money launderer never have more than 5 employees and never make $5 Million.  The law is unnecesary, redundant, and is am addront to small business.  Just as big box stores stayed open during Covid but small businesses were forced to close, this law will impede small business and force some businesses to close permanently.

Yes, I write on the envelope do not forward and tell the post office.

Write your congress person and senator, telling them how difficult/expensive it is for small businesses to comply.  The penalty is $500 a day fine and two years in jail. 

When I am sending the notice to my rental and I know they are not there I send it certified, signature required, no not forward, and the post office returns it back to me for no one signing it and the webpage gives a day to day accounting of the letter's travels.