RYAD
DALILA
Thibault, Managing Partner at Doctolib, a global leader in healthcare appointment booking, and his wife Dalila, are already multiproperty owners in France and have two children. With a strong investment portfolio, they decided to diversify their wealth by purchasing a Ryad in Marrakech.
The Investment
Location: Marrakech, prime tourist area
Property Type: 500m² Ryad with 4 suites, indoor pool, and rooftop offering panoramic views of the Atlas Mountains
Purchase Price: €350,000 (discounted from €370,000 + €6,000 discount on the indoor pool)
Furnishing & Décor: €30,000 (boho-chic minimalist style)
SKYRT Fees (7%): €24,500
Notary Fees (7%): €24,500
Total Upfront Investment: €439,000 (equity + fees + furnishing)
Rental Income (Airbnb):
Nightly Rate per Suite: €80
Occupancy Rate: 80% (approximately 24 nights per month for each of the 4 suites)
Gross Monthly Rental Income: €80 × 4 suites × 24 nights = €7,680
Financial Breakdown
Loan & Financing
• Bank Financing (70%): €245,000
• Loan Term: 25 years
• Interest Rate: 5.3%
• Monthly Mortgage Payment: €1,498
Operating Costs
• Property Management (20% of rental income): 20% × €7,680 = €1,536
• Maintenance, Utilities & Taxes: €300
• Total Monthly Expenses (Mortgage + Management + Maintenance): €2,698
Monthly Cash Flow Calculation
• Gross Rental Income: €7,680
• Total Expenses: €2,698
• Net Monthly Cash Flow: €7,680 – €2,698 = €4,982
Return on Investment (ROI)
• Annual Net Cash Flow: €4,982 × 12 = €59,784
• Cash-on-Cash Return (Return on Equity):
(€59,784 / €194,000) × 100 = 30.84%
(Equity = €439,000 total upfront investment – €245,000 loan)
• Total Property Yield:
(€7,680 / €350,000) × 100 = 2.19% monthly yield or 26.28% annual yield
