Читать книгу Buying Real Estate Overseas For Cash Flow (And A Better Life) - Kathleen Peddicord - Страница 44

The math is the same whether you're calculating the rental yield for a property in Arizona or Argentina. The expenses, though, can be different, and this is the second critical factor to take into account when projecting cash flow from a property investment overseas. Calculate what your return will be gross and then ignore that figure. Only the net matters.

In Ecuador, for example, the tenant pays the homeowner's association (HOA) fee on top of the rent. Some countries impose a withholding tax on gross rental income when it's paid; you recover any overpayment by filing an annual tax return. And management fees for short-term rentals can range from 15% to 35% and more, depending on the market.

A gross rental yield of 25% sounds great until you calculate the expenses and find that it nets to 3% after backing out management splits, building fees, and other higher-than-typical expenses for that particular property. Looking only at the top-line return, you could dismiss a gross rental yield of 12% that nets to 6% in the same market.