1831 NW 51st StMiami, Florida

Miami, FL 33142 · MLS A12086335

List price

$419,900

3 bd / 2 ba
Bedrooms / baths: 1,305 sq ft
Living area: 1941
Year built: 8,250 sq ft
Lot

"Looking for cash or hard money only sale."

Listed by Benjamin Key BKRE LLC (305) 900-7645

1831 NW 51st St is a 3-bedroom, 2-bath home in Miami, Florida listed at $419,900 with 1,305 square feet, built in 1941. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with 1 to 2 completed projects and a 740 score puts 10% down ($41,990), we fund the $58,725 renovation estimate in draws, and the loan closes in 2 weeks. The down payment steps with experience, credit and the size of the renovation. See every hard money opportunity in Florida or our Florida hard money lending page.

From the listing. 3/2 Fixer upper. buy with equity. Roof is 2018, has impact windows. Needs cosmetic updates. Looking for cash or hard money only sale. No conventional/fha loan offers will be considered. Limited service listing. All information provided by seller and should be verified by buyer and buyers agent.

01 - Price This Property

Hard money financing on 1831 NW 51st St: what you qualify for.

Preset with the list price and our rough renovation estimate. Change your score, your experience, the budget or the after-repair value and the numbers below move with them. Nothing is pulled and nothing is saved.

List price $419,900

State FL

Your credit score, approximate

Type a number, like 720. A ballpark is fine and nothing is pulled. Leave it empty if you have no score.

Investment projects you completed in the last 3 years

Flips, rentals bought and sold, or builds. Decides the down payment.

Renovation budget

Our super rough estimate at $45 per sq ft. Put in your contractor's number if you have one.

After-repair value, if you know it

The loan stays under 75% of it. Leave blank to size on the price alone.

1. Your score740Qualifies
2. Your experience1 to 2 projectsTier 2: 10% down
3. Down payment10% down$41,990 at closing

You qualifyAt a 740 score with 1 completed project, you qualify for 10% down on this property with the renovation funded.

Fix and flip, experienced

10% down

We fund 100% of the renovation. Closes in 2 weeks.

Cash to close, rough estimate $52,930

Loan at closing $377,910

Rate, interest only from 9.75%

Experience Tier 2 on 1 completed project in three years with a light (up to 25% of the price) renovation: up to 90% of the price at closing, 100% of the renovation funded.

02 - The Numbers at Closing

1831 NW 51st St priced at the list price.

Item		Fix and flip: 10% down
At closing
Qualifies as entered	Yes
Buyer down payment	$41,990 (10%)
Loan at closing	$377,910
Cosmetic renovation, rough estimate*	We fund $58,725
Total loan	$436,635
Rate, interest only	from 9.75%
Points	1.5 ($6,550)
Appraisal	Required
Estimated monthly interest	$3,548 at full draw
Cash to close, rough estimate	$52,930

Rough estimates at the list price of $419,900 for a 740 score and 1 completed project. This is not a commitment to lend.

*Every figure on this page is a rough estimate. The renovation budget is a super rough placeholder at $45 per sq ft, not a bid or an inspection; get your own contractor numbers before you offer. Indicative estimate for discussion, not a commitment to lend. Business-purpose loans to investors only; final terms are set at submission. Fix and flip loans are sized on an appraisal and must stay under 75% of after-repair value. 10% down is for experienced investors; first-time flippers put 20% down. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.

We are the lender, not the listing agent. This property is listed by Benjamin Key, BKRE LLC ((305) 900-7645). To see it or make an offer, contact Benjamin directly, or work with your own buyer's agent. The numbers on this page are simply what our financing would look like on this property. Viewing them is not a commitment to borrow from us, and you are free to finance the purchase however you choose. We do not represent buyers or sellers.

Request the Term Sheet Call (323) 304-4978

More hard money deals in Miami All Florida opportunities Hard money lender in Florida Fix and flip loans Every live opportunity

Nearby