Hard money, fix and flip and DSCR loans in Miami: your questions answered

It is a mortgage on an investment property that is funded by private institutional investors, not a bank. The decision is based on the property and the deal: its value after renovation or construction, or whether its rent covers the payment. Your job history and debt-to-income ratio are not reviewed.

Miami Fix and Flip Loans is the South Florida division of Optimus Capital Corp, a nationwide hard money lender that works only with real estate investors. It is run by Andrew Shanti, Senior Vice President, who has worked in lending and real estate since 2005.

Across South Florida: Miami, Fort Lauderdale, Hialeah, Hollywood, Miami Gardens, Pembroke Pines, Homestead, West Palm Beach and the cities around them in Miami-Dade, Broward and Palm Beach counties. Through Optimus Capital Corp we also lend in other states.

Fix and flip loans, DSCR loans for rental property, ground-up construction loans, mid-rehab and completion loans, rental portfolio loans, and commercial loans on multifamily, hospitality, office, industrial and retail property.

Choose a lender that funds most of the purchase and all of the renovation, pays draws promptly, and underwrites the hurricane code, insurance, the 50% flood rule and Florida property taxes realistically. We lend up to 90% of the purchase and 100% of the rehab on terms of 6 to 24 months. See investment property loans in Miami.

It means the borrower will not live in the property. Flips, rentals and new builds for sale are non-owner-occupied, and they are financed with business-purpose loans. Every loan we make is on non-owner-occupied property.

No. We lend on investment property only. The exception is commercial property occupied by the owner’s business. For a primary residence, a conventional NMLS-licensed mortgage broker is the right place to go.

As a rule, no, except on large commercial loans. The one cost before closing on most loans is the appraisal, which you pay to the appraisal company.

Programs begin at a 600 score. Fix and flip loans start at 600 with reduced leverage, while the best terms, 90% of purchase and 100% of rehab, are for scores of 720 or higher. Rental loans are available at 600 with up to 70% loan-to-value.

No. We look at three things: enough cash to buy and carry the property, a property that can cover its payment now or once the work is finished, and a credit record that shows debts are paid on time.

No. These are business-purpose loans and are not reported on personal credit like a conventional mortgage.

As many as your deals support. There is no limit on the number of properties we will finance for one investor.

Yes. We will need the articles of organization, the IRS EIN letter, a signed operating agreement showing each member’s share and, if the LLC is over a year old, a certificate of status from the Florida Division of Corporations (Sunbiz).

Florida charges documentary stamp tax on deeds: $0.70 per $100 of price in most counties, while Miami-Dade charges $0.60 per $100 on a single-family home and $1.05 per $100 on other property. Sellers customarily pay it. A new mortgage adds note stamps of $0.35 per $100 and intangible tax of 0.2% of the loan, which buyers usually pay. Title insurance premiums are set by the state, and closings are handled by a title agent or a real estate attorney.

A DSCR loan is approved on the debt service coverage ratio: the rent divided by the full monthly payment. We prefer 1.0 or higher. Strong borrowers can qualify below 1.0 with lower leverage, and a no-DSCR program exists at a higher rate.

Short-term rental rules differ city by city across South Florida. Florida law bars cities from banning vacation rentals outright, but rules adopted before June 2011 still stand, and Miami Beach bans short-term rentals in single-family homes and most residential districts, and fines for illegal rentals are steep. In the City of Miami, short stays are allowed only where the zoning permits them, with a certificate of use and a business tax receipt, and every operator also needs a Florida vacation rental license and must collect state and county tourist taxes. Many condo associations ban short stays as well. Because the rules depend on the exact address and building, we underwrite on long-term rent unless the property can legally host short stays.

Florida has no state income tax, and investment property gets no homestead exemption, so property tax is a large cost of holding a rental. Combined rates in Miami-Dade and Broward are often close to 2% of taxable value. On non-homestead property, the taxable value for most levies can rise no more than 10% a year, but the cap resets when the property is sold, so a buyer is taxed on full market value the next year. Voters approved Amendment 3 on November 3, 2026, which lowers that cap to 5% starting in 2027; school taxes are not capped.

Florida law bars cities and counties from adopting rent control and from setting their own landlord-tenant rules, so rents follow the market and the state’s landlord-tenant law applies everywhere. Some cities require a business tax receipt or a rental registration for each rental property, so check with the city where the property sits.

Florida now requires a milestone structural inspection of condo buildings of three or more stories once they reach 30 years, then every 10 years, and a structural integrity reserve study every 10 years with reserves that can no longer be waived. Many older buildings face large special assessments as a result. Read the association’s budget, reserve study and any planned assessments before you buy a unit.

In a FEMA flood zone, if the cost of a renovation reaches 50% of the building’s market value, the whole building must be brought up to current flood rules, which can mean elevating it. Some cities add up improvements over several years, so ask the building department how it counts before you set the scope.

Yes, through our rental loan programs.

Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included.

In Florida, a title agent or a real estate attorney handles the closing and issues the title policy. Have yours chosen when you apply.

The minimum is $75,000. The maximum is more than $10 million.

From 6 months to 30 years. Fix and flip loans are 6 to 24 months with interest-only payments. Rental loans are fixed for 5 to 30 years.

Not on fix and flip loans. Rental loans come with a 3-year or 5-year prepayment penalty, the 5-year usually priced about 0.25 to 0.5% lower, or with no penalty at a higher rate.