By Waltz, a new wealthtech start-up, has launched an innovative platform aimed at simplifying US real estate investments for foreign investors. Based in Miami, Waltz promises to streamline the entire process, from property selection to closing, within 30 days. The platform addresses common challenges such as currency conversion fees and regulatory hurdles, making it easier for international investors to access the lucrative US real estate market. With backing from major venture capital firms, Waltz is poised to revolutionize the way foreign investors engage with US properties.
Waltz aims to make real estate investment as straightforward as possible for foreign investors. The platform offers a comprehensive solution that includes everything from identity verification to setting up a US digital bank account. Investors can start by identifying their ideal property through a real estate agent or mortgage broker. Once selected, Waltz handles the creation of a Limited Liability Company (LLC) and an Employer Identification Number (EIN) for the investor, ensuring compliance with US regulations.
The platform also provides pre-approval letters and access to competitive mortgage options, allowing investors to finance up to 70% of the property’s value. This financing is based on the property’s return on investment rather than the investor’s personal income, making it more accessible. By offering these services, Waltz eliminates many of the traditional barriers that foreign investors face when entering the US real estate market.
Addressing Common Pain Points
One of the key advantages of Waltz is its ability to address common pain points associated with foreign real estate investment. Currency conversion fees and unpredictable exchange rate fluctuations can significantly impact the profitability of an investment. Waltz offers competitive and fast currency exchange capabilities, reducing these costs and providing greater financial stability for investors.
Additionally, the platform streamlines the closing process by offering remote solutions for appraisal, inspection, title, and insurance. This remote capability is particularly beneficial for foreign investors who may not be able to travel to the US for these procedures. Once the purchase is complete, Waltz connects investors with property managers and tax advisors, ensuring that their investment is well-maintained and compliant with US tax laws.
Future Expansion and Market Potential
Waltz is currently available in nine states, including Alabama, Florida, Georgia, Maryland, Mississippi, North Carolina, Ohio, South Carolina, and Texas, with plans to expand to Arizona soon. The start-up’s launch has been powered by significant funding rounds, including an $11.5 million seed funding round led by TLV Partners and a $12.5 million Series A round led by Aleph. This financial backing underscores the confidence investors have in Waltz’s potential to transform the real estate investment landscape.
The platform’s founder and CEO, Yuval Golan, emphasizes the importance of making real estate investment accessible to non-citizens. Drawing from his own experiences, Golan aims to simplify the process and provide a seamless experience for foreign investors. With its innovative approach and strong financial support, Waltz is well-positioned to become a leader in the wealthtech industry, offering a unique and valuable service to international investors.