Question 1

Do Tampa flips still pencil in 2026?

Accepted Answer

Yes, on the right buy, and be skeptical of anyone quoting you a Tampa flip statistic. ATTOM does not publish a current flip rate or ROI for the Tampa metro, and Tampa appears nowhere in the Q1 2026 top-10 list for flip share, so treat "Tampa is a top-10 flip market" as marketing rather than data. What is published: Florida statewide ran a 6.6% flip rate in the first quarter of 2026, 34th among states, on 5,529 flips, with a $75,000 median gross profit and a 28.3% gross ROI, both above the national $66,000 and 25.4%. Florida flips less often than the country and earns more per flip when it does. Underwrite the individual deal, not the metro reputation, and run it through the fix and flip calculator before you sign the contract.

Question 2

What exit price should I underwrite to in Tampa Bay?

Accepted Answer

To the submarket, not the metro. Mid-tier home values as of June 2026 cluster between about $340,000 and $405,000 across the named submarkets, and the spread inside that band matters: Wesley Chapel $402,222, Tampa $380,283, Riverview $366,239, Brandon $358,445, St. Petersburg $355,759, Clearwater $344,142, Plant City $343,765, Largo $339,252. Every one of those is down year over year, from -1.3% in Brandon to -3.9% in St. Petersburg. Metro-wide, prices are off 2.7% year over year on the Zillow index for June 2026 and 1.6% on Case-Shiller for May 2026. Hold your after repair value to subdivision comps, and price a reduction into the exit rather than assuming the first list price holds.

Question 3

How much does insurance add to my holding costs here?

Accepted Answer

Enough to decide the deal, and it depends on which side of the bay you buy. Florida's insurance regulator reports average homeowners premiums including wind, as of March 2026, of $4,063 in Pinellas, $3,525 in Hillsborough, and $2,756 in Pasco. That is about $1,300 a year between Pinellas and Pasco on an otherwise comparable house, before flood, which is a separate policy and which a lender will require in the Special Flood Hazard Areas that cover much of coastal Pinellas. The direction is finally in your favor: the average premium including wind fell in 51 of 67 Florida counties between the January and July 2026 reports, 21 new carriers have been approved since the 2022-23 reforms, and Citizens is down to 293,465 policies in force as of June 2026, its lowest in 25 years. Get a real binder quote on the specific address before you go hard, and build it into the 6-month carry.

Question 4

Will my property tax bill match the seller's?

Accepted Answer

No, and assuming it will is the most common Florida underwriting mistake. Investment property gets the 10% annual assessment cap, not the 3% homestead cap, and the cap resets on change of ownership. Your first full tax year after purchase is typically assessed at market value with no carryover of the seller's capped basis, so the prior year's bill systematically understates what you will pay. Underwrite to a market-value assessment, pull an address-level estimate from the county property appraiser rather than a metro-wide millage rate, and talk to your CPA about your own situation.

Question 5

What do Florida documentary stamps cost me on a flip?

Accepted Answer

70 cents per $100 on the deed and 35 cents per $100 on the note, on each closing. Deed consideration expressly includes the amount of any mortgage or other encumbrance, whether or not the underlying debt is assumed, so the taxable number is not always the cash price. The statute places the deed tax on the purchaser, but in most Florida counties the seller pays it by contract, which means your purchase agreement, not the statute, decides who writes the check. Two consequences for flippers: you pay stamps going in and the buyer's side pays them going out, and an A-to-B-to-C double close owes deed stamps on both deeds plus note and mortgage stamps on each financed leg. Have your closing attorney or title agent price the stamps for your structure before you commit to it.

Question 6

How long does a rehab permit take in Hillsborough or Pinellas?

Accepted Answer

Florida statute gives you a clock, and it has teeth. Under Florida Statutes section 553.792, a local government has 30 business days to approve, approve with conditions, or deny a complete application for a single-family residential dwelling under 7,500 square feet, and 60 business days for larger single-family, multifamily up to 50 units, commercial under 25,000 square feet, and site plans. The jurisdiction must tell you in writing what is missing within 5 business days of receiving the application, and blowing the deadline cuts the permit fee by 10% for each business day of delay, 20% per day after a resubmitted revision. Those are statutory backstops, not the observed average in Hillsborough, Pinellas, or Pasco, and we do not have verified local review times to quote you. Budget the scope and the correction cycles inside your 6-month term. Our guide on estimating a rehab budget covers how we size the number, and you can apply now ahead of the permit rather than after it.

Question 7

How much of my fix and flip deal will USA Mortgage finance?

Accepted Answer

We fund up to 90% of the purchase price and up to 100% of your rehab budget, with the total capped against the after-repair value (ARV). Rehab money is released in draws as the work is completed.

Question 8

What interest rate and points should I expect on a flip loan?

Accepted Answer

Our fix and flip pricing starts around 9.99%, interest-only, with origination typically 1 to 3 points depending on your experience, leverage, and the deal, and every quote is subject to underwriting. Across the market most flip loans run roughly 9% to 12%. On most flip loans, including ours, interest is charged on the full loan amount, rehab budget included. Paying interest only on rehab funds as you draw them exists in the market, but it is the exception, not the rule.

Question 9

Do I need flipping experience to qualify?

Accepted Answer

No. We work with first-time flippers as well as full-time operators. Experience mainly affects your leverage and rate, since a longer track record earns higher loan-to-cost and better pricing. A newer investor can still get funded with a sound deal, a realistic budget, and a clear exit.

Question 10

How fast can a fix and flip loan close?

Accepted Answer

We can get you a term sheet the same day on a complete application, and we typically fund within 48 hours of clear title. The main variable is how fast title and insurance come together, which is why a full close usually runs 5 to 7 days. Because we are the lender and underwrite in house, there is no second layer of approval to wait on.

Question 11

Is there a prepayment penalty if I sell quickly?

Accepted Answer

No. Our fix and flip loans have no prepayment penalty, so paying off early when the property sells costs you nothing extra. Terms run 6 months, and because there is no penalty, selling sooner never costs you extra.

Question 12

Do you check credit or require income documents?

Accepted Answer

We run credit, but this is an asset-based loan, so the property, your budget, and the ARV matter most. We do not ask for W-2s or tax returns to qualify a flip. We will want to confirm you have reserves to carry the project to its exit.

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