FL · St. Petersburg
Bridge, Flip & Construction
Loans in St. Petersburg, FL
Bridge, fix & flip, construction, renovation and DSCR loans for residential investment property in St. Petersburg, $1M to $5M, term sheet in 24 to 48 hours. For US investors and foreign nationals on the same terms.
Passy Capital is based in St. Petersburg. We finance investors who buy, renovate and build residential investment property here and across Pinellas County: bridge loans, fix & flip loans and ground-up construction loans from $1M to $5M, plus renovation financing and DSCR loans for the hold. Term sheets go out in 24 to 48 hours, and a clean file closes in about two weeks.
Typical deals in St. Petersburg are renovations of older bungalows and block houses, infill spec homes on single lots, rebuilds of flood-damaged houses, and small 2-4 unit buildings bought to update and rent. The $1M to $5M range covers a single higher-value new build near the water as well as a group of rentals.
Flood risk is the first thing we underwrite here. Hurricane Helene in September 2024 pushed a storm surge of more than six feet into the city, according to the City of St. Petersburg, and Hurricane Milton followed two weeks later. In a FEMA flood zone, repairs or improvements costing 50% or more of the structure's market value require the whole building to meet current floodplain rules, which can mean elevating it or building new. We confirm flood zone and the city's substantial-improvement position before sizing a rehab, and we finance elevated rebuilds as construction loans.
International buyers are active across Tampa Bay. In the Florida Realtors 2025 survey (August 2024 to July 2025), Canadians were 32% of the international buyers in the Tampa-St. Petersburg-Clearwater metro, with Europeans and Latin Americans also well represented. A non-US investor borrows from us on the same terms as a US investor, through a US LLC, with no US credit history required.
St. Petersburg Market Highlights
Our home market
Passy Capital's office is in St. Petersburg. Pinellas deals are local for us, from the first call to the closing table.
Rebuilding after 2024
Construction loans up to 85% of cost for investors replacing storm-damaged houses with new, elevated homes that meet current flood rules.
The FEMA 50% rule
In a flood zone, work costing 50% or more of the structure's value triggers full floodplain compliance. It decides whether a deal is a rehab or a rebuild.
Fix & flip up to 90% LTC
Purchase and renovation in one loan for houses outside the high-risk zones or with a scope that stays under the threshold.
Bridge, then DSCR
Bridge loans up to 80% LTV to close quickly, then a DSCR loan up to 80% LTV once the property is leased.
Same terms from abroad
Canadian, European and Latin American investors borrow through a US LLC with no US credit history, at the same terms as US investors.
Key Submarkets
Old Northeast
Kenwood
Crescent Lake
Historic Uptown
Grand Central
Allendale
Lakewood Estates
Disston Heights
Shore Acres
Gulfport
Clearwater
Largo
Property Types We Finance
Single-Family
Spec Homes
Elevated Rebuilds
2-4 Units
Townhomes
Small Multifamily (5-9 Units)
Build-to-Rent
SFR Portfolios
Loan Programs
Bridge Loans
Buy, refinance or cash out an investment property, closing in about two weeks.
Construction
Ground-up spec homes and build-to-rent, with draws tied to milestones.
Renovation / Rehab
Rehab financing on 1-4 unit and small multifamily, drawn against completed work.
Fix & Flip
Purchase and rehab in one loan for 1-4 unit flips, closing in about two weeks.
DSCR / Rental
Long-term rental financing based on property cash flow.
Investing in St. Petersburg from outside the US
If you are buying in St. Petersburg from outside the United States, financing is usually where the process stalls: no Social Security number, no US credit history, and no retail bank willing to underwrite a foreigner. We lend to your US LLC instead, underwrite the property rather than a US profile you have no way to build, and charge no foreign-national premium for it.
Frequently asked questions
Do you finance rebuilding a flood-damaged house in St. Petersburg?
Yes. If a house was substantially damaged, or if the planned work will reach 50% of the structure's market value, the project usually needs to meet current floodplain rules, often by elevating or rebuilding. We finance those projects as construction loans up to 85% of total cost, with draws released as the build advances.
Can a foreign national borrow for a St. Petersburg investment property?
Yes. The loan is made to a US LLC and underwritten on the property and the plan. A foreign national needs no US credit history or Social Security number and borrows on the same terms as a US investor, from $1M to $5M.
What does Passy Capital charge?
Our fee is 1% to 2% of the loan amount, paid at closing, with no upfront fees. Third-party costs such as appraisal, title insurance and Florida documentary stamp and intangible taxes are separate.
Learn More
Construction Loans
Ground-up financing up to 85% of cost, including rebuilds and spec homes.
What is the difference between a bridge loan and a construction loan?
When a deal needs short-term acquisition financing and when it needs a build loan.
Foreign national loans
How non-US investors borrow through a US LLC on the same terms as US investors.
Other Cities in Florida
We also finance investors across other Florida markets.
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