Listing photoMiami, FL 33161 · MLS A11972932
"ALL CASH * * * Showing Confirmation will be given upon the receiving Proof of funds."
1563 NE 148th St is a 6-bedroom, 4-bath home in Miami, Florida listed at $660,000 with 2,670 square feet, built in 1952. 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 ($66,000), we fund the $120,150 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. ALL CASH * * * Showing Confirmation will be given upon the receiving Proof of funds. Property Appraised at $675,000. Excellent income-producing opportunity in Incorporated Miami-Dade! This versatile property features three separate units: Unit 1 3 bedroom / 2 bathroom, Unit 2 2 bedroom / 1 bathroom, Unit 3 1 bedroom / 1 bathroom. The property does need TLC, making it a great opportunity for buyers looking to add value, renovate, and maximize returns.
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.
| Item | Fix and flip: 10% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $66,000 (10%) | |
| Loan at closing | $594,000 | |
| Cosmetic renovation, rough estimate* | We fund $120,150 | |
| Total loan | $714,150 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($10,712) | |
| Appraisal | Required | |
| Estimated monthly interest | $5,802 at full draw | |
| Cash to close, rough estimate | $81,102 | |
Rough estimates at the list price of $660,000 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.
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