New construction in Miami is built for wind and water. The county's high-velocity hurricane zone standards, approved windows and roofing, flood elevations and steep insurance premiums all land in the budget before the first block goes up. Investors who plan for them can still build profitable rentals and spec homes; they just need a lender that models those costs honestly.
In short: LendingStreet is our top pick for investor construction in Miami-Dade. We fund 1 to 8 unit residential projects, including duplexes, spec homes and small rental buildings, sized on loan-to-cost with draws released after inspections. You can borrow in an LLC, and once the property is leased we can refinance it into a 30-year DSCR loan based on rent, sized with the real tax and insurance numbers. Call (877) 298-1001 or get a quote with the form below.
We lend only for business purposes, to investors building homes they will sell or rent. Our construction loans are sized on total project cost, which covers the lot, the hard costs and soft costs like architecture, structural engineering, permit fees and impact fees. Terms are set per project.
Miami deals vary more than most. Land is expensive, so the lot can be a third of the budget, and a duplex in Allapattah, a spec home in Homestead and a 6-unit building near a transit station each need their own structure. We underwrite each project on its own merits.
If you have a site, permitted or permit-ready plans and an experienced builder, request a quote with the form below.
How the main types of lenders generally compare for investors.
| What matters | LendingStreet | Typical local bank | Typical private or hard money lender |
|---|---|---|---|
| Investor builds | Yes: duplexes, spec and small rentals, 1-8 units | Often favors existing relationships | Yes |
| Sizing | Loan-to-cost on land, hard and soft costs | Often conservative | Varies; fees and terms vary |
| Income review | Project and builder focused | Often tax returns | Usually light |
| LLC borrowers | Standard | Sometimes | Common |
| Draws | After inspections on an agreed schedule | Varies | Varies |
| Permanent loan | DSCR refinance, 30-year terms available | Separate loan | Usually short-term only |
Inside the City of Miami, infill duplexes and small rentals show up in Allapattah, Little Havana, Little River, Little Haiti, Liberty City, Shenandoah and along the West Flagler corridor, where zoning under the city's code allows two or more units on some lots.
Elsewhere in the county, builders look at Hialeah, Miami Gardens, North Miami, Opa-locka, Cutler Bay, Homestead and Florida City, plus unincorporated areas in the south and west where land is less expensive. Each city has its own building department, and unincorporated land goes through the county.
Miami-Dade sits in Florida's high-velocity hurricane zone, so windows, doors and roofing generally need specific product approvals and structural design to match. Mapped flood zones set minimum floor elevations, which can add fill or a raised foundation. These requirements shape the hard cost budget and the insurance quote.
Permitting goes through the city where the lot sits or through the county for unincorporated areas, and plan review timelines vary. Build schedule contingency for hurricane season as well.
Your equity is used first. The loan then pays for construction in stages, each released after an inspection confirms the work. Common stages are foundation and slab, block and tie beam, roof, rough-ins and windows, drywall and final.
Plan the stages with your general contractor before closing. Our construction draw schedule calculator helps you match draws to the work.
This example is illustrative and not a quote.
An investor buys a lot zoned for two units for $260,000, budgets $520,000 in hard costs including contingency and $60,000 in soft costs, for $840,000 in total. Because land is a large share of the budget, assume the loan is sized at 75% of total cost for illustration.
The loan is $630,000 and the investor contributes $210,000. The lot and soft costs exceed the cash, so $110,000 of the loan goes toward the lot at closing and $520,000 is released in draws. Construction interest and closing costs are not shown.
Each finished unit rents for $3,350, so rent is $6,700 a month. Taxes run about $1,583 a month and insurance about $700, which is why the refinance here is a modest $640,000, about 61.0% of an estimated $1,050,000 value. Estimated principal and interest is $4,204, bringing the total to $6,487. DSCR is 1.03x, and the refinance still covers the $630,000 construction loan payoff because the investor put real equity into the land.
| Item | Amount |
|---|---|
| Lot | $260,000 |
| Hard costs | $520,000 |
| Soft costs | $60,000 |
| Total cost | $840,000 |
| Loan (75% of cost, assumed) | $630,000 |
| Investor cash | $210,000 |
| DSCR refinance | $640,000 |
| Monthly rent | $6,700 |
| Estimated principal and interest | $4,204 |
| Taxes | $1,583 |
| Insurance | $700 |
| DSCR | 1.03x |
The lesson from the example: in Miami, taxes and insurance often decide the size of the permanent loan more than value does. Get real insurance quotes and a property tax estimate on the new value before you finalize the plan. Investment properties do not get the homestead exemption.
The DSCR refinance qualifies on rent with no W-2s or tax returns, a 1.0x standard minimum, a 620 minimum credit score and seasoning that varies by program. Florida documentary stamp taxes apply to deeds and mortgage notes, and Miami-Dade has its own deed rate. Confirm costs with your title company.
We size on loan-to-cost across land, hard and soft costs, with terms per project, and release draws after inspections. LLC borrowers are standard. We require plans, permits, a realistic budget and either a build track record or an experienced general contractor. At completion, a DSCR refinance starts at $150,000 with a 1.0x standard minimum. Buildings of 9 or more units go to our commercial team.
Get a quote with the form below, or call (877) 298-1001 to talk through your Miami build.
Our top pick is LendingStreet. We finance investor projects of 1 to 8 units on a loan-to-cost basis, pay draws after inspections, lend to LLCs and offer a DSCR refinance that uses real Miami tax and insurance costs.
Yes. We lend throughout Miami-Dade County, across Florida, and in all 50 states and DC.
Yes. Approved windows, doors and roofing and the structural design for wind loads add cost, and lenders and insurers will expect them.
Many Miami lots are. The required floor elevation affects design and cost, and flood insurance affects the DSCR. Confirm both before you buy.
Yes. We finance 1 to 8 units where zoning allows, including duplexes and small 5-8 unit buildings.
You need either a track record or an experienced general contractor. Projects without plans or permits usually do not qualify.
Yes. A sale on completion pays off the construction loan.
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