American buy to let?

[Work-Shy-Wanabe]

I have come across a British agent selling American property in the New York state area with very high rental returns (35 to 40%). Just wondered what’s the catch? I know us property market is in free fall so the property value is likely to fall but with 40% returns on capital each year I could deal with that.

[Work-Shy-Wanabe]

Well, looking at it further with assorted rates and fees the net returns arent as high 15 to 20%.