Fix-and-Flip Loans in Florida: How to Close in 10 Days Without a Bank

If you have ever tried to get a fix-and-flip loan from a conventional bank, you already know the punch line: they want 3 years of tax returns, a fully renovated appraisal on a gutted property, and a 6-to-8-week underwriting window on a deal that expires in 30 days.

In Florida’s fast-moving real estate market – Tampa, Orlando, Jacksonville, Miami, Fort Lauderdale, West Palm Beach – a 6-week approval timeline does not just slow you down. It kills the deal.

This is exactly why experienced fix-and-flip investors use private lenders, not banks.

What Is a Fix-and-Flip Loan?

A fix-and-flip loan (also called a hard money loan or bridge loan) is a short-term real estate financing product designed specifically for investors who buy distressed properties, renovate them, and resell for profit. Unlike a conventional mortgage, the loan is underwritten based on the deal – the property’s after-repair value (ARV) and the investor’s experience – not the borrower’s W2 income or FICO score alone.

Key features of private fix-and-flip loans:

• Loan-to-Cost (LTC): Up to 90% of the total project cost (acquisition plus rehab)
• Loan-to-ARV: Typically 65-75% of the after-repair value
• Draw schedule: Rehab funds released in phases as work is completed
• Term: 6-18 months (designed for the flip timeline)
• Close timeline: 10-14 days with a competent private lender

Why Florida Fix-and-Flip Investors Skip the Bank

Florida’s distressed property market moves fast. Foreclosure auctions, wholesale deals, and off-market properties rarely wait 6 weeks. The investors closing deals consistently are not going to Chase or Wells Fargo – they have relationships with private lenders who understand the asset class.

Bank vs. Private Lender Comparison

Here is the real side-by-side:

• Close time: Bank 45-90 days vs. Private lender 10-14 days
• Down payment: Bank 30-40% vs. Private lender 10-15%
• Income docs: Bank requires 3 years W2 + tax returns vs. Private lender deal-based underwriting
• Distressed property: Bank usually says no vs. Private lender – that is the point
• Rehab funding: Bank rarely includes it vs. Private lender draw schedule included

Case Study: Tampa Fix-and-Flip Funded in 11 Days (Results Not Typical)

A real estate investor approached Slate Financial after his bank passed on a distressed property in Tampa’s Seminole Heights neighborhood. The numbers: Purchase price $185,000, Rehab budget $42,000, Total project cost $227,000, Estimated ARV $295,000.

The bank cited “distressed condition” and would not appraise the property in its current state. With a private fix-and-flip loan through Slate, the deal closed in 11 days. The draw schedule funded rehab in three tranches. The property sold 14 weeks later for $278,000.

Results not typical. Funding subject to lender approval. All deal structures vary based on borrower profile and property location.

Florida Markets We Fund

We work with private lenders actively funding fix-and-flip projects across Tampa Bay, Orlando metro, Southeast Florida (Miami, Fort Lauderdale, Boca Raton, West Palm Beach), Jacksonville, and Southwest Florida (Fort Myers, Naples, Sarasota). We also fund projects in Texas, Georgia, and South Carolina.

What You Need to Qualify

Private fix-and-flip lenders focus on the deal, not just the borrower:

1. The property: Purchase price, current condition, rehab scope, and neighborhood comps
2. The numbers: ARV estimate supported by recent comparables
3. Experience: First-time flippers can qualify with a stronger down payment
4. Exit strategy: Selling (flip) or holding (BRRRR) – both have loan structures

Credit score matters less than the deal’s math. A deal with a strong ARV-to-cost ratio in a liquid market can qualify even if your FICO is not perfect.

How to Apply

The application takes about 3 minutes. You will need the property address, your estimated purchase price, rehab budget, and ARV. No tax returns required at the application stage.

Apply for a fix-and-flip loan here – see what your deal qualifies for.

Our team reviews every application within one business day and matches your deal to lenders most likely to fund it based on location, LTC, and ARV.

Frequently Asked Questions

How fast can I really close?

With a complete file, experienced investors close in 10-14 days. First-time borrowers may take 14-21 days. Funding is subject to lender approval.

Do I need perfect credit?

No. Most private fix-and-flip lenders set a minimum of 620-640 FICO, but the deal’s LTC and ARV carry more weight than your score.

Can I finance the rehab?

Yes. Most private fix-and-flip loans include a rehab holdback released via draw schedule as work is completed and inspected.

What states do you fund?

Primarily Florida, Texas, Georgia, and South Carolina, but our lender network covers 40+ states. Apply at slatefinancial.io/apply/fix-and-flip and we will tell you which lenders cover your market.

Ready to See What Your Deal Qualifies For?

Stop waiting on a bank that was not built for your business. Private fix-and-flip lending exists because investors needed a tool that moved at the speed of the market – not at the speed of a mortgage committee.

Apply in 3 minutes – no tax returns required at application.

All lending products subject to lender approval. Rates, terms, and availability vary by market and borrower profile. Slate Financial is a licensed mortgage broker. Not a direct lender.

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