Cashflow
Double-digit gross yields on well-bought stock in Columbus, Cleveland and Detroit.
US rental property for international investors
Your entry into American real estate
Most people never start building their real estate portfolio in the USA because they do not know where to begin, who to trust, or how to get a mortgage without an American income. That is the part we solve. We find the property, arrange the financing, handle the renovation and put a trusted local manager in place, so your first US rental is a decision rather than a project. Then we do it again for the second.
- 10–13%+Gross yield
- $120–250kEntry prices
- €50,000Minimum capital
Why American property
In the Netherlands, transfer tax, the box 3 regime, rent caps and the points system have compressed rental returns, and investors in many other countries face their own version of the same squeeze. In landlord-friendly American states the arithmetic still works: rent follows the market, a non-paying tenant leaves in weeks, and lenders underwrite the building rather than your salary.
Leverage
DSCR loans to 75% LTV, available to non-residents with no US income or credit file.
Law
No statewide rent control and no points system. Leases and deposits stay negotiable.
Tax
Depreciation and interest deductions reduce the tax on positive cashflow considerably.
Three markets, one team
We operate where the numbers hold up and the law is workable. Our people are on the ground in all three cities, and every property we buy is one they can reach by car.
Growth market
Columbus
The 13th fastest-growing city in America. Ohio State University anchors a permanent tenant base, and Intel and Honda are investing billions in the region.
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Yield market
Cleveland
Median prices of $120–160k against a US average near $417k, and more than 60% of residents renting. The shortest route to a second property.
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Value-add market
Detroit
Michigan law favours the landlord and prices remain low against rent. Renovation is where the return is made, so this market rewards local execution. Particularly suited to cash buyers.
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Where the law is on your side
Landlord protection varies enormously between states. We buy only where eviction is measured in weeks and rent is set by the market, which rules out most of the coasts.
- Our markets
- Landlord friendly
- Tenant friendly — avoided
From first call to rental income
Six steps, fully managed. Most clients go from the first conversation to a tenanted property in three to four months, and never travel unless they want to.
- 01
Strategy call
Budget, goals and risk tolerance. We tell you plainly whether this is a fit.
- 02
Financing
Lender introductions and a DSCR pre-approval, so you know your real budget.
- 03
LLC and banking
Entity formation, EIN and a US bank account, arranged remotely.
- 04
Selection and offer
Underwritten shortlist, then negotiation through our licensed local partners.
- 05
Inspection to closing
Inspection, title, closing and any renovation, supervised on the ground.
- 06
Letting and management
Handled by a trusted local property management partner, with reporting back to you.
Example deals
Three worked examples of the property types we buy, with the arithmetic we use to judge them. Illustrative figures, not offers, and not a projection of your return.
Duplex · Columbus
Columbus duplex
Two independent rental units under one roof, our preferred investment in Columbus. A manageable renovation of about $15,000 gets it ready to let.
- Purchase price
- $205,000
- Renovation
- $15,000
- Monthly rent
- $2,500
- Gross yield, incl. renovation
- 13.6%
- Equity at 75% LTV
- $51,250
Cashflow · Cleveland
Two-unit duplex
Two tenancies under one roof, so a vacancy costs half the income rather than all of it.
- Purchase price
- $145,000
- Monthly rent
- $1,600
- Gross yield
- 13.2%
- Equity at 75% LTV
- $36,250
Scale · Columbus
Eight-unit multifamily
Two side-by-side quadplexes, all two-bedroom units. Value follows net operating income here, so better operations raise the building's worth directly.
- Purchase price
- $650,000
- Monthly rent
- $6,360
- Gross yield
- 11.7%
- Equity at 65% LTV
- $227,500
Example deals based on property types and price levels we transact in. Every deal is underwritten individually before it is presented to you.
Run your own numbersFree guide
The international investor's guide to US rental property
The essentials from this site in one PDF you can read offline and share with your partner or advisor.
What's inside
- Columbus, Cleveland and Detroit compared, and who each market suits
- How financing works without US income or credit history
- How we underwrite a deal, with three worked examples
Who you work with
Olaf Groenewegen
Founder of Greenroads Real Estate, working between Europe and the American Midwest with clients across Europe and beyond. Deal sourcing, acquisitions, brokerage and property operations, alongside a personal portfolio in the same markets we buy for clients.
Greenroads is not a listings site. We take on a limited number of clients at a time, as we are hands-on in the transaction and we build long-term personal relationships with each client.
- Based
- Europe and Ohio
- Clients
- Europe and worldwide
- Focus
- Ohio and Michigan
I invest in the same markets we buy in for clients, and I work between Europe and the American Midwest to do it.
On a first call I will tell you plainly whether this is a fit. If American property is the wrong move for you, I will say so.
Olaf
Explore further
Free webinar
Buy Real Estate in the U.S.
An hour on how international investors actually buy American rental property: the market as it stands, the full process, worked example investments, and the step-by-step route to a first purchase. Ends with an open question round.
- 01The market now
- 02The process for foreign buyers
- 03Concrete example investments
- 04Your route to a first purchase
- 05Questions
Presented by
Olaf Groenewegen
Founder, Greenroads
What to expect
- One hour, ending with an open question round
- Worked example investments
- Your step-by-step route to a first purchase
Held in Dutch, with English sessions on request. If it is not a fit for you, we will say so.
Questions we are asked most
Do I need to travel to the United States?
No. Entity formation, banking, financing and closing are all handled remotely. Clients who want to see the market join the quarterly Ohio tour, but it is optional.
How much capital do I need to start?
From roughly €50,000 in cash for a leveraged single-family purchase, covering the deposit, closing costs and a reserve. Larger buildings need proportionally more equity.
Can I get a mortgage without US income?
Yes. A DSCR loan is underwritten on the property's rent rather than on your salary or credit file, and is available to non-residents buying through a US entity.
Who manages the property afterwards?
Day-to-day management is outsourced to a trusted local property management partner in the same city. We appoint them, oversee them and stay accountable for the result.
How am I taxed on the income?
Rental income is taxed in the United States, with depreciation and interest deducted first, and treaty rules determine how it is treated at home. We coordinate with your own tax advisor rather than replacing one.
What does Greenroads charge?
An acquisition fee on each purchase, disclosed in writing before you commit, plus the property management partner's fee on the running property. Fees are on the table at the first call, not later.
Next step
Thirty minutes, and you will know whether this fits
A free strategy call. We look at your budget, your goals and the market that suits you, and tell you honestly if American property is the wrong move.
- Office
- Str. Knyaz Boris I 55, Floor 2Sofia 1000, Bulgaria