Mortgage, Title, and Escrow Process
The fine print, let's talk more about it.
Fine print: something thoroughly and often deliberately obscure.
But not here at Doorvest.
We’re happy to talk about the ins and outs, the ups and downs, and everything in between. Our company was built by making real, income-generating investments more accessible to everyday people, and it takes a lot of good, honest fine print to make that happen.
We’ve taken the complicated process of buying and owning cash-flowing homes, and we’re making it palatable and easy to understand -- and to do! We facilitate the entire process, and we encourage you to be a part of every decision, no matter how small. From choosing the perfect home to placing strong, reliable residents, we’re here to take the fear out of the fine print and to help you grow your personal wealth.
Mortgage
Want to buy a house but don’t have the lump sum in cash? You’re definitely not alone. The majority of our clients need loans and financing.
Cue: obtaining a mortgage.
Mortgages are traditionally 15-3020 years in length and financed through a bank, making purchasing an investment property much more accessible and affordable. So you’ll need a mortgage, but how do you pick a bank that’s right for your investment? Doorvest has partnered with a trusted mortgage lender, Beeline Loans, and we simply cannot recommend their services enough. Already have a preferred banker you’d like to use? That’s great, too! We’re happy to work with your banker of choice to secure proper funding.
If you aren’t interested in traditional financing and would rather pay cash, we also facilitate all-cash transactions and acquisitions.
Regardless of how you finance your new home and what lender you choose, our Doorvest team is committed to the entirety of the process. From selecting a banker, securing a loan, and getting the funding you need for your home, we promise you’ll understand each and every detail along the way.
To learn more about the nitty gritty of mortgage lending and mortgage options, click H E R E.
Title & Escrow
We love a trusted third party opinion, and title companies are just that: a neutral third party that coordinates escrow and protects the interests of both the buyer and seller. Title companies are like mediators in a way, making sure both parties leave the transaction as happy as possible.
Doorvest helps facilitate the relationship with the title company, ensuring a quick, smooth, pain-free closing process. We leverage our team’s experience, providing guidance to Doorvestors while working with our trusted title company partners.
We know our partners’ processes, and they know ours. This allows us to fast-track escrow-related formalities, increasing communication and decreasing road blocks.
So, what’s all this talk about escrow? What is escrow? Sometimes it’s fun to be fancy. Escrow, put simply, is a term used to describe the closing process.
Renovations
We know a new investment can be scary. That’s why we’re committed to making your first year as a Doorvestor -- and a new homeowner! -- as stress-free as possible.
We typically do anywhere from $20,000 to $50,000 worth of renovations and repairs to the homes. Residents placed lives in a beautiful home that feels brand new. Renovations range from replacing/repairing roofs, electrical panels, and water heaters to cosmetic renovations such as interior and exterior paint. To see some of our past projects, please head to our Instagram @doorvest
We partner with our list of vetted and trusted General Contractors to make sure all renovations and updates are high quality and low stress. Throughout the time the home is being renovated, you're kept in the loop on the progress while we project manage and pay close attention to the details.
Rent & Residents
As with most instances, success starts with the people. When placing residents, we vet candidates closely to make sure that we’re placing reliable, trustworthy people in your new home. All residents undergo a standard background check, including criminal history and credit information. And most importantly, we require resident incomes to be at least 3X the rent of your home, so there’s no question about the affordability of the lease.
Happy residents make happy homeowners (that’s you). We’re in it for the long haul, placing residents who will not only pay rent in full and on time, but who will also respect and take care of your home as they make it their own.
We’re so confident that we’ll find great residents for your new home that we guarantee first years rent on every property purchased through Doorvest.
Long-term success
We’re here to help with renovations and placing the right residents on the front end, and we’re also here to ensure your long-term success on the back end. We’re committed to keeping your property low-maintenance and to keeping you head-ache free. With our long-term property management services, we’ll always facilitate and manage the following:
Automated rent collection
Resident placements
Lease preparation & enforcement
Resident lease guarantees
Move in & move out assessment reports
Organizing maintenance repairs & estimates
24-hour maintenance turnaround
Organizing make-ready bids & reports
Technology platform/interface for owners (that’s you) & residents
Dedicated account manager
Accounting/bookkeeping for income & expenses
Preparing annual year end income/expense reports
IRS 1099 forms
Bi-annual home inspection
We’re committed to keeping your home maintained, occupied, and earning you cashflow. Having Doorvest manage your remote investment home is the simple, no-brainer way to ensure you get the most out of your investment.
This all sounds great. What’s in it for Doorvest?
Doorvest was founded to help more people -- like you! -- achieve financial independence and to grow their personal wealth. At the core of everything we do, we are centered around our initial mission, and we are constantly working to improve our investment network, identify and outpace industry trends, and to continue to provide unparalleled investment opportunities for Doorvestors.
To ensure that owning an income-generating home is as stress-free as possible, Doorvest handles everything from sourcing your investment home, all the way to managing your home. We want you to stay focused on the things you love and to spend less time worrying about your investments. You own 100% of you investment home, but Doorvest handles the rest.
You can find a full list of our trusted partners H E R E.
Wondering if Doorvest is right for you? Take this quiz and find out! Interested in learning more about Doorvest? Let’s chat! We’d love to share more about Doorvest and how you can grow your personal wealth by investing in real estate. Email us at hello@doorvest.com.