Fix and Flip in Miami

Yes, and it is worth pricing before you buy, not after. Miami-Dade is one of only two counties in Florida inside the High-Velocity Hurricane Zone (the other is Broward), the strictest wind design and product-approval regime in the Florida Building Code. Any windows, doors, shutters, roofing, or other opening protection you install has to carry a Miami-Dade Notice of Acceptance or a Florida statewide product approval specifically listed for HVHZ, and that NOA number has to appear on the permit application. We do not have a reliable dollar figure for the premium over standard Florida-approved products, so do not underwrite a specific percentage or cost. What you can bank on: an out-of-county contractor's bid will usually miss this requirement, so confirm HVHZ compliance in the scope of work before you fund the fix and flip budget.

Lower, if your exit is a single-family house or condo unit, and most people have this backward. Miami-Dade is the only Florida county with a different deed documentary stamp rate: 60 cents per $100 on a single-family dwelling, against 70 cents per $100 everywhere else in the state, and the county's 45-cent surtax specifically exempts single-family transfers. On a $600,000 flip that is $3,600 in deed stamps here versus $4,200 elsewhere, $600 less. The surtax only bites once your exit is a duplex, small apartment building, or commercial parcel, where the combined rate jumps to $1.05 per $100, a $2,100 swing on the same $600,000. Know which side of that line your flip lands on before you quote closing costs.

Underwrite condo flips with extra diligence on the building, not the unit. Miami-Dade runs two overlapping inspection regimes: the state milestone inspection at 30 years for condo and co-op buildings three habitable stories or higher, and the county's own section 8-11(f) recertification at 25 years coastal or 30 years inland. Since a budget adopted on or after December 31, 2024, associations can no longer waive reserves for structural integrity reserve study items, and the SIRS deadline is December 31, 2026, which is what is driving special assessments. A special assessment tied to an unremediated critical repair, a failed jurisdictional inspection, or unfunded repairs over $10,000 per unit due within 12 months makes the whole project ineligible for a Fannie Mae loan, which pushes the unit to cash or private-credit buyers only. Single-family homes and duplexes are exempt from the county recertification programme, so that risk is specific to condo and small apartment stock. Pull the association's reserve study and recent inspection history before you go hard on a condo deal.

More than the seller's bill, and the amount depends heavily on which city the property sits in. As an investor you pay the state's 10% non-homestead assessment cap, never the 3% homestead cap, and that cap resets to market value on your purchase, so the prior owner's tax bill will understate what you owe. 2025 adopted millage for an investor with no homestead runs from 15.5108 mills in Key Biscayne up to 24.0024 in Opa-locka, with the City of Miami at 19.9878 and unincorporated Miami-Dade at 16.9317. Note the pattern runs backward from what you'd expect: the highest-value submarkets carry the lowest millage and the lowest-value submarkets carry the highest, so a lower-cost acquisition does not automatically mean a lower-cost holding-period tax bill. Pull an address-level estimate from the county property appraiser before you close.

At the high-cost end of the highest-cost state, and it's worth quoting early in your underwriting. Miami-Dade's average homeowners premium including wind is $5,975 as of March 2026, against $3,610 in Orange County (Orlando) and $2,650 in Lake County, a gap of $2,365 to $3,325 a year on an otherwise comparable house. The claims-litigation environment compounds the risk: the Palm Beach, Broward and Miami-Dade region litigates 27.27% of closed claims, more than triple the 8.16% rate in the rest of Florida. Get a binder quote on the specific address rather than budgeting a single county number, and build it into your interest-only term.

Plan on the widest resale range and the longest marketing time of any Florida metro in our data. Miami-Dade also runs one of the five lowest flip rates among large U.S. metros, 5.5% of sales in the first quarter of 2026 against 8.0% nationally, so this is a fewer, larger, slower market rather than a volume one. Excluding the county's three luxury enclaves, mid-tier home values across the named submarkets run $417,156 in Aventura to $733,259 in Miami Springs, clustering $425,000 to $585,000 as of June 2026. Miami-Dade's median list price was $588,700 in July 2026, the highest of any Florida metro we've researched, with 87 median days on market, roughly two extra weeks over Tampa or Orlando. Read the values by property type, not just location: single-family Case-Shiller pricing hit an all-time high in May 2026, while Zillow's Miami MSA condo index is down 6.2% year over year, so run your specific comps through the fix and flip calculator rather than assuming a metro average holds for your unit type.

Roughly 10% of the purchase, plus closing costs and carry. We fund up to 90% of the purchase price and up to 100% of the rehab budget, capped to ARV. On a $500,000 Miami-Dade purchase that is up to $450,000 from us and $50,000 from you (500,000 x 90% = 450,000), with rehab drawn against the schedule instead of paid up front. Budget separately for the holding-period lines this county is heavy on: a non-homestead tax bill that resets to market value on your purchase, and an insurance premium averaging $5,975 a year here. The term is 6 months, interest-only, so the carry is real money. Subject to underwriting.

We write from $100,000 to $5,000,000. That band covers nearly anything in this county. Excluding the county's three luxury enclaves, mid-tier values across the named Miami-Dade submarkets run from $417,156 in Aventura to $733,259 in Miami Springs, so a typical deal here sits comfortably inside it, and the ceiling leaves room for the larger, slower projects Miami-Dade is known for. Where a purchase alone sits near the floor, the rehab budget usually carries the loan over it. Subject to underwriting.

No. First-time flippers are welcome, and there is no minimum credit score on a fix and flip loan. We do run credit, but on an asset-based loan it carries far less weight than it would at a bank, and weaker credit is usually answered with lower leverage rather than a decline. There is no hard credit pull to start. What gets read hardest is the deal itself: purchase against ARV, the rehab scope, and the exit. In Miami-Dade the scope question matters more than most places, because the county's High-Velocity Hurricane Zone product rules can reshape a window, door, or roofing budget written by an out-of-county contractor. Subject to underwriting.