Buying U.S. real estate can be a massive headache for international investors – full of paperwork and sometimes surprises that can delay closings and boost costs. A Miami-based startup aims to make the investment process as easy as a waltz across the dance floor. Israeli entrepreneur Yuval Golan dreamed up Waltz during the COVID-19 pandemic to offer remote buyers the ease of “an Amazon-style checkout, plus installment plan.” He knows the travails investors face, having spent two decades working around the globe in cross-border finance.
The Waltz platform lets non-U.S. citizens purchase U.S. properties online, in a brisk step-by-step process. Buyers quickly create a U.S. Limited Liability Company (LLC), obtain a U.S. Employer Identification Number (EIN), open a U.S. bank account, wire foreign exchange, obtain a U.S. loan, get U.S. insurance, and perform other tasks – with some steps completed in seconds.
“We close the deal as quickly as in 14 days, and they don’t need to touch U.S. soil,” Golan told Global Miami. The startup works with hundreds of clients, mortgage brokers, property managers, and vendors. So far, it’s processed more than $300 million in loan requests and tens of millions in loans processed, Golan says.
“We’re not competing to be the cheapest. We’re competing to be the fastest and most efficient,” explains the CEO, who worked in Israel, Europe, Asia, and South America before moving to South Florida. He says many buyers seek out U.S. homes, offices, or warehouses as investments to generate income.
To grow, Waltz has raised more than $24 million to date, with funders including Israel’s TLV Partners and Aleph. It now employs some 30 people, with offices in Miami, Tel Aviv, and Madrid.
Miami was the logical choice to base operations for three key reasons, Golan says. First, Florida accounts for roughly 25% of all foreign investment in U.S. real estate. Within the state, much of that foreign investment comes to Greater Miami, including Broward and Palm Beach counties. In addition, Miami is emerging as a global tech hub, offering support for startups from capital to conferences.
Personally, Golan also enjoys the convenience of living in Miami’s Brickell district—“the Manhattanized part of Miami,” as he calls it—where he can easily walk from home to meetings, shops, and restaurants. Brickell is also convenient to Miami International Airport, so it’s easy to take off to check in with Waltz’s growing roster of clients, partners, and staff worldwide.
