How long does permitting really take?

It depends entirely on which municipality governs the parcel and whether the scope triggers structural or design review. This is the question to answer before you are under contract, because it sets your holding period.

Are condo flips financeable here?

Yes, with the association as an extra gate. Reserve status, pending assessments and renovation rules all matter, and some buildings are difficult to finance at all.

Does the loan cover the rehab?

Rehab financing is normally advanced in draws against completed work rather than in a lump sum at closing. Your first draw and your contractor's payment schedule need to line up.

What if the ARV comes in low?

It happens, and it is better to find out at appraisal than at resale. A low ARV changes the loan and sometimes the deal — which is why the budget and the comparables should be conservative from the start.

Miami

Fix & flip loans in Miami

Miami rewards investors who understand the permitting map and punishes those who assume it. The financing is straightforward; the schedule is where Miami flips are won or lost.

Start with the property

What decides a Miami flip

Permitting is municipality-specific and the differences are large. Miami-Dade County, the City of Miami, Miami Beach, Coral Gables and Hialeah each run their own process, and the historic districts add design review on top. The same kitchen and bath scope can be a few weeks in one jurisdiction and several months in another. Your interest carry is set by that difference, so confirm the path before the offer, not after.

Structural and envelope work brings the building code into play in ways that surprise people. Miami-Dade has among the most demanding wind-load requirements in the country, and windows and doors generally need to be impact-rated and approved for the county. Those products carry lead times, and lead times are holding costs.

Condominium flips face association rules on top of the municipal process. Many buildings restrict renovation hours, require contractor insurance filings and approval of the scope, and some prohibit certain work entirely. A unit bought to flip inside an association that will not approve the scope is a problem the financing cannot solve.

Finally, the exit. Miami's resale market moves differently by price band and neighbourhood, and days-on-market at the price you need is the number that matters, not the median. If your exit is a sale, know what comparable finished properties are actually taking to sell before you commit.

What lenders weigh on a Miami flip

The governing municipality

Permitting timelines differ enough between them to change the carry materially.

Impact-rated products

Wind-load requirements and product approval affect both budget and lead time.

Association approval, on condos

Scope approval, contractor requirements and work-hour limits sit above the permit.

A defensible ARV

Comparable finished sales in the same submarket, not county medians.

Miami flip questions

How long does permitting really take?: It depends entirely on which municipality governs the parcel and whether the scope triggers structural or design review. This is the question to answer before you are under contract, because it sets your holding period.
Are condo flips financeable here?: Yes, with the association as an extra gate. Reserve status, pending assessments and renovation rules all matter, and some buildings are difficult to finance at all.
Does the loan cover the rehab?: Rehab financing is normally advanced in draws against completed work rather than in a lump sum at closing. Your first draw and your contractor's payment schedule need to line up.
What if the ARV comes in low?: It happens, and it is better to find out at appraisal than at resale. A low ARV changes the loan and sometimes the deal — which is why the budget and the comparables should be conservative from the start.

For how this loan works generally — the documents, the process and the full question list — see Fix & Flip loans.