11020 SW 60th StMiami, Florida

Miami, FL 33173 · MLS A12118056

List price

$625,000

3 bd / 2 ba
Bedrooms / baths: 1,075 sq ft
Living area: 1959
Year built

"The seller prefers a cash buyer and is ready to close immediately."

Listed by Kenia Lopez First Service Realty ERA (305) 978-7579

11020 SW 60th St is a 3-bedroom, 2-bath home in Miami, Florida listed at $625,000 with 1,075 square feet, built in 1959. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with 1 to 2 completed projects and a 740 score puts 10% down ($62,500), we fund the $48,375 renovation estimate in draws, and the loan closes in 2 weeks. The down payment steps with experience, credit and the size of the renovation. See every hard money opportunity in Florida or our Florida hard money lending page.

From the listing. Great opportunity to own in the desired Southwest area, East of the turnpike and off Miller Road! Roof from 2022, Impact Windows and doors from 2021, Water Heater from 2022, New Inside AC unit with Outside Condenser September 2026 (with 10 Year Warranty). Fenced yard which includes 2 side yards with plenty of extra space. Interior of the home offers 3 bedrooms 2 baths with ample room for creative remodeling, this property could become a great home or investment property. The seller prefers a cash buyer and is ready to close immediately. No Homeowners Association!

01 - Price This Property

Hard money financing on 11020 SW 60th St: what you qualify for.

Preset with the list price and our rough renovation estimate. Change your score, your experience, the budget or the after-repair value and the numbers below move with them. Nothing is pulled and nothing is saved.

List price $625,000

State FL

Your credit score, approximate

Type a number, like 720. A ballpark is fine and nothing is pulled. Leave it empty if you have no score.

Investment projects you completed in the last 3 years

Flips, rentals bought and sold, or builds. Decides the down payment.

Renovation budget

Our super rough estimate at $45 per sq ft. Put in your contractor's number if you have one.

After-repair value, if you know it

The loan stays under 75% of it. Leave blank to size on the price alone.

1. Your score740Qualifies
2. Your experience1 to 2 projects10% down at closing
3. Down payment10% down$62,500 at closing

You qualifyAt a 740 score with 1 completed project, you qualify for 10% down on this property with the renovation funded.

Fix and flip, experienced

10% down

We fund 100% of the renovation. Closes in 2 weeks.

Cash to close, rough estimate $76,053

Loan at closing $562,500

Rate, interest only from 9.75%

With one or two completed projects in three years and a light (up to a quarter of the price) renovation: up to 90% of the price at closing and 100% of the renovation.
Add an after-repair value to confirm the total: the loan is also capped at 70% of it.

02 - The Numbers at Closing

11020 SW 60th St priced at the list price.

Item		Fix and flip: 10% down
At closing
Qualifies as entered	Yes
Buyer down payment	$62,500 (10%)
Loan at closing	$562,500
Cosmetic renovation, rough estimate*	We fund $48,375
Total loan	$610,875
Rate, interest only	from 9.75%
Points	1.5 ($9,163)
Appraisal	Required
Estimated monthly interest	$4,963 at full draw
Cash to close, rough estimate	$76,053

Rough estimates at the list price of $625,000 for a 740 score and 1 completed project. This is not a commitment to lend.

*Every figure on this page is a rough estimate. The renovation budget is a super rough placeholder at $45 per sq ft, not a bid or an inspection; get your own contractor numbers before you offer. Indicative estimate for discussion, not a commitment to lend. Business-purpose loans to investors only; final terms are set at submission. Fix and flip loans are sized on an appraisal and must stay under 75% of after-repair value. 10% down takes a 740 score or a deeper track record; a first flip under 720 puts 25% down. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.

We are the lender, not the listing agent. This property is listed by Kenia Lopez, First Service Realty ERA ((305) 978-7579). To see it or make an offer, contact Kenia directly, or work with your own buyer's agent. The numbers on this page are simply what our financing would look like on this property. Viewing them is not a commitment to borrow from us, and you are free to finance the purchase however you choose. We do not represent buyers or sellers.

Request the Term Sheet Call (323) 304-4978

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