Here’s to many more milestones ahead!

At your scale, you would likely need to go full steam ahead and get the required licenses.

Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.

Just a heads up that Dave Meyer and Henry Washington answered this question during the podcast episode we published yesterday (Ep. 1,057).

Quitting is a head trip and it takes a while to wrap your head around it but life, just as in retirement, is what you make of it.So, how are you doing it.

In my experience, these are the guys that want draws all the time (and it is easy to get ahead on them based on percentage).I tend to avoid the guys that can "start right now".  

Just notify your lender of what you are planning on doing ahead of time.

This getting way ahead of myself and into the realm of daydreaming, but it is something that's on my mind. 

Looking ahead, I’m aiming to start investing in long-term opportunities in Spring 2025. 

Some lenders specifically cater to U.S. citizens abroad and have experience working with unconventional income documentation.It’s great that you’re already thinking ahead for your next property.