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Awning.com Review Overseas Investor: Julie Prochasson

Awning.com Review Overseas Investor: Julie Prochasson

Key takeaways

Awning.com Review Overseas Investor: Julie Prochasson

Julie is a part-time real estate investor and tech product manager. 

She found Awning through a friend and worked with the team to diversify her portfolio geographically. 

Julie didn’t win her first offer with Awning, but Humberto, her agent, was ready with another one when the buyer got cold feet.

Like many investors that work with Awning, Julie opted to rate shop multiple lenders and Humberto helped her find a better rate through one of the partner lenders.

Prior to closing, the title company discovered that someone would need to sign on behalf of Julie with power of attorney, since she was purchasing from outside the United States. Given the pandemic the local embassy was closed and could not be used for this purpose. Humberto made dozens of phone calls to local attorneys to lock in someone willing to sign on her behalf.

Once Humberto secured an attorney, Julie’s lender backed out because more than one person would appear on the deed and not the mortgage. Humberto worked with the Awning network of lenders to find one that would match the terms and accept multiple signatures, as well as, power of attorney. Within a day, Humberto lined everything up for closing, again.

In the end, Julie secured an investment property in a niche.com rated A+ neighborhood (Barcelona in Austin, TX), with A+ schools for $189,000. The entire transaction took 39 days, with most of that time spent waiting for third-parties.

Awning connected Julie with a local property manager that verified the rent and repair costs (under $5,000). 

Humberto continues to monitor the status of the property with Julie, even after it’s leased.

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