Spartan Invest is a major player in the turnkey investment space. This turnkey powerhouse has successfully worked with its fair share of non-U.S. real estate investors. The problem? Spartan Invest could only work with international investors who paid for properties in cash. Without a clear way to provide financing, Spartan Invest was leaving money on the table from international investors seeking mortgages. The solution? Waltz. By partnering with Waltz, Spartan Invest’s international clients can finally invest with leverage and scale faster.
When investors in the Southern United States think of single-family turnkey providers, Spartan Invest is sure to come up in conversation. The team is extremely proud to offer comprehensive services that include property acquisition, renovation, and full property management so that investors can have a hands-off experience.
Since its foundation, Spartan Invest has helped international clients across the globe build rental portfolios in the United States. One common thread among them is that non-U.S. buyers always paid cash. Those looking to take a mortgage were left without financing options due to the complexities associated with U.S. lender financing for non-citizens.
Out of frustration from having to turn down international clients in need of financing, Spartan Invest Founder Maureen McCann went on a mission to find a solution. The remedy she was looking for came in the form of the Waltz puffin.
Through the grapevine, Maureen had heard about Yuval Golan’s story and the solution that came out from his frustration as an international investor: his company, Waltz.
Before partnering with Waltz, Spartan Invest faced significant challenges when working with foreign investors seeking financing for investment properties. International clients often encountered major barriers to buying real estate, including:
For these reasons, “foreigners typically pay cash or use U.S.-based assets as collateral unless they have an U.S.-based income” Maureen McCann went on to mention. This left many would-be clients sidelined, as there weren’t any lenders that they could find who understood the nuances required to lend to international investors.
Sadly, this situation is not unique: NAR reported that 50% of all foreign buyer transactions across the United States over the past year have been completed in cash compared to 28% of American buyers.
Even for foreign investors who paid cash, there was a sense of overwhelm in understanding what was needed to set up a business or even a U.S. bank account. While clients were ultimately directed to attorneys to draw up paperwork or various other vendors, the international investor experience was full of hurdles.
When Maureen discovered Waltz, she knew that it truly solved problems that were seen as tremendous challenges for foreign investors. And so, a partnership was born.
It was finally time to put the partnership to the test. An Israeli investor named Adi reached out to Spartan Invest to purchase a rental property in Tuscaloosa, Alabama. He wanted to buy the property using financing– and this time, Spartan Invest knew just the lender to call.
Waltz lived up to the hype.
In under 30 days, Adi was able to buy his first U.S. rental property with financing from Waltz. It was smooth sailing from start to finish. The Spartan Invest team attributed the success of this transaction to the following:
Katharine Lashley is the Operations Manager at Spartan Invest. She oversees every transaction for the company, meaning she’s worked with a lot of lenders. Here’s what she had to say about Waltz:
“The quality of the lender is apparent right away. Someone who understands the situation makes it easier. Waltz was patient and knowledgeable, making the customer feel comfortable by explaining everything in an easy-to-understand manner.”
Anyone who’s ever been involved in a real estate transaction knows that communication between all parties can make or break a deal. At the end of the day, everyone should really have one goal: closing the deal. That means doing whatever it takes to close on time. There were no closing delays, in fact, Katharine Lashley went on to say:
“Waltz did a great job of understanding the why behind this process and ensured that our client, Adi, was comfortable with that. There weren’t any holdups because of communication, it helped things go more smoothly.”
A turnkey solution means streamlining every component of the property buying experience and even helping afterwards. “Just as Spartan Invest does this for our clients, Waltz is doing the same for theirs” said Jessie King, Marketing Director at Spartan Invest.
Needless to say, Spartan Invest knows they can count on Waltz. Various members of the team were truly impressed by how we handled our mutual client with exceptional professionalism and skill. This experience and positive feedback from Adi (the client) gives Spartan Invest confidence recommending Waltz again and again.
Working directly with Waltz was just as seamless for this turnkey provider. With constant collaboration throughout the mortgage process, Spartan Invest knows that they can count on us to get deals to the closing table on-time. For any partner looking for a reliable, dedicated, and efficient team to work with, Waltz is the go-to choice for delivering results and fostering strong, long-lasting partnerships.
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