🎉 Waltz reaches $50M💰 in funding to support LATAM growth 🎉 Read the full story here
Imagine working hard to save $100 only to realize you have a hole in your pocket and lost $30 just walking down the street. That’s what living with Colombia’s currency fluctuations can feel like, especially in times of economic and political uncertainty. For Andrés, a lawyer from Colombia, the answer to protecting his savings was clear. U.S. real estate offered the kind of stability in both the dollar and the market that other asset classes and currencies simply couldn’t match.
With a clear objective to own U.S. rental property, Andrés decided to work backwards from that goal. He began his investment journey by researching strategies, markets, and locations that would align with his long-term objectives.
Naturally, Florida was top of mind. With a sister living there, he was familiar with the state, and he knew it was a popular destination for many Latin American investors, including Colombians. While Florida had its advantages, Andrés also wanted to explore other cities that might offer higher cash flow at lower price points.
That research led him to St. Louis, Missouri. The city offered favorable rent-to-price ratios and strong potential for positive cash flow, making it a smart starting point for a first-time U.S. investor. After completing a class on Section 8 housing, where tenants' rent payments are backed by the U.S. government, he realized that it aligned perfectly with his strategy. “The U.S. government doesn’t miss rent payments. Plus, they often pay at or above market rent depending on the area. It seemed like a safe bet” said Andrés.
With a strategy and a location in mind, he set out to buy his first investment property. Andrés connected with a great real estate agent in St. Louis, who became his boots on the ground. The agent helped him tour properties remotely and even introduced him to a local contractor who could provide insight on property conditions. Together, they formed the foundation of his U.S. investment team.
Andrés narrowed his focus to multi-family properties priced above $145,000, which was the minimum threshold for securing an investment property loan. Below that price, he would likely have had to pay cash, limiting his flexibility.
After scouring the internet and reviewing options with his team, he found a duplex in St. Louis featuring two 2-bedroom, 1-bath units. Reflecting on this decision, he stated that “the economics of a multi-family are amazing, with just one property you can have multiple income streams.”
Plus, the duplex was already tenant-occupied, making it an even more attractive investment. “With this setup, I would get cash flow from day one. I didn’t have to look for a tenant and I wouldn’t have to worry about vacancy,” Andrés explained.
Read more: See more success stories here
Andrés foresaw that not being a U.S. citizen could be problematic when trying to secure a loan. As he began reaching out to lenders, he quickly discovered just how many hurdles international investors face, from strict documentation requirements to logistical challenges of managing a transaction from abroad.
Despite these obstacles, Andrés remained committed to his U.S. real estate investment plan. His bad experience underscored the importance of finding a foreign-friendly mortgage lender.
Read more: Do you need a U.S. credit score to get a mortgage?
When Andrés began exploring financing options for his first U.S. property, he quickly realized that most lenders were not set up to work with foreign investors. The process felt daunting.
The solution to his problems came in the form of an Instagram ad that read “No U.S. credit? No problem!”
From there, he wanted to work with Waltz and never looked back. Unlike most lenders, Waltz understood his situation as a foreign national and provided a clear, step-by-step path to secure financing. Here’s what stood out to Andrés about his experience with Waltz:
With his first property underway and cash flow already coming in, he feels confident about growing his U.S. real estate portfolio in the future, knowing he has a lender he can trust.
