Hey SN

All the best with the job hunting and that you find something that suits you location-wise. Also, good luck with the move back to the UK and hope all goes well.

Thank you Weenie. 4 weeks to go!

This blog post has become outdated rather quick, as you are now a Dollar millionaire! I wonder how are the numbers of your BTL looking? Do you regret renting vs buying? Has your experience been positive so far? I've been tempted to step into the BTL business, but I hear a lot of negative stories.

100% don't do it! The only reason we did was because we didn't want to sell at a loss.

It's been a headache from day one, plus we would have made more if we had invested it in the stock market. The first tenant trashed the place and didn't pay the last 3 months of rent, 3000+ for repairs.

After 3 months of it being empty, the second tenant we need to send an electrician for just the fusebox switch going off or a plumber to fix a wonky tap (all he needed to do was tighten it.)

We also pay 20% to a fully managed agent. It would maybe be better if you can go over yourself to fix simple things or check on it.

The double home stamp duty in the UK and being unable to expense mortgage interest also makes being a landlord terrible. We can't buy another home now until we sell the BTL without paying huge tax costs, so we're renting until the 5 year fix is up at the end of 2025.

Curious how your tax situation will pan out, do you have to file or does the company do it for you? Last thing you needs is hefty tax bill.

I've already filed my taxes for 2023, in the USA it's year to year.

I purposely don't re-enter the UK until after the new UK tax year starts, so all of my severance would have been paid out while a US resident (with a lower tax bill). I'll just have to file at the end of 2024 to the IRS and pay taxes as a split year resident.

Nice, from personal experience the trailing tax returns are a pain. My return was….let’s just convoluted. I know you’re raring to get back to work, I took 3 months out after returning and wish I’d taken more!

I wish I could... Something feels different this time around within the tech industry though, everywhere is laying off, the job market is tough, AI on the horizon. I feel like there isn't much time left to make hay while the sun shines.

Cars are nothing but trouble.
We have a car turning 10 soon and with a few bumps, scratches etc... it's unsellable.
We'd have to waste a lot of time selling it and it would be better off me working a few days instead of pouring money into fixing it up (and the time wasted)

Hopefully your move back goes well - I am told London is under control of a cabal of islamists, the deep state and the FT - so be careful!

Thanks GFF.

I'd love one of those high paying remote jobs so I don't have to suffer London again. Funny that you mention the FT, they're recruiting 😄

I’m enjoying hearing this story developing.

Your car dilemma reminds me of when I left the Middle East. I’d bought a Jeep in cash and had to sell it before I left. I only had a couple of time wasters come look at it.

This Palestinian guy wanted a car for his daughter and low balled me over the phone. He called me again like 2 weeks later when I was only 1 week from leaving.

Lowballed even more. I said no but then he pulled out about £12k in cash and said I am serious I’ll buy it now. I folded and took the money 😂

I regret buying it. But at the time it seemed like there were no other options (the US had a car shortage.)

We did get to do some nice trips in it as we put a bed in the back.

If we were staying we probably would have kept it until it broke.