Columbia is a university (and perhaps a few towns in the US of the same name), but in Colombia, the country, I rent to expats whose rental rate is tied to the dollar. My cash yield net of expenses and vacancies is 11% with no leverage. That seems ok to me. Risk and the perception thereof are two different things – many folks confuse the two. Nevertheless, I wouldn’t put all of my eggs in that one basket, but as part of a quasi-diversified portfolio of assets, I suspect it will play its part. Also, I’m in Medellin a fair amount as it is (well, pre-pandemia) so it’s a local asset to me.
