The Miami-based fintech start-up Waltz Inc. is now offering foreign investors a platform to invest in and purchase US residential real estate within a 30-day period.
Waltz is currently available in nine states – Alabama, Florida, Georgia, Maryland, Mississippi, North Carolina, Ohio, South Carolina, and Texas – with plans for further expansion. According to the company, investors find their desired property through a real estate agent, mortgage broker, or turnkey provider and Waltz provides them with identity verification, Limited Liability Company (LLC) with an Employer Identification Number (EIN), and pre-approval letter. Investors are set up with a U.S. digital bank account to manage their investment with currency exchange capabilities.
Investors using Waltz can receive mortgages or refinancing for foreigners up to 70% LTV, with the company stating the process offers three times the leverage compared to cash-only transactions. The loan is based on the property’s return on investment rather than personal income. Waltz provides a remote solution for appraisal, inspection, title, and insurance, and the company also helps connect investors and buyers a property manager and tax advisor.
“Investing in anything nowadays takes just a few clicks, unless you’re a foreign citizen investing in U.S. property,” said Yuval Golan, founder and CEO of Waltz. “From my experiences investing globally and in the US, I wanted to make the process for non-citizens as straightforward and simple as possible. Now, investors can just Waltz in, Waltz out, and they immediately start their journey of turning the wealth they built into the future they dream of, while we manage the compliance, legal, banking and regulatory side of the process.”
Waltz’s banking services are provided by Regent Bank; international payment services for Waltz Inc are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank to facilitate payments in all 50 states.
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