Palm Bay and the rest of the Space Coast offer plenty of older concrete block homes, but every flip here competes with new construction a few streets away. The numbers only work with the right scope, a fast close and a lender that funds the rehab.
In short: For flippers in Palm Bay, FL, our top pick is LendingStreet: up to 90% of cost and up to 100% of the rehab on some programs, loans from $150,000 to $5M+, and closings in as little as 10 days. That matters in Brevard County, where a renovated home has to beat nearby new builds on value. You can also exit into a long-term DSCR rental loan instead of selling.
For Palm Bay flips, LendingStreet is our top pick because it pairs fast, short-term rehab money with a long-term rental loan in one place. Fix and flip loans run from $150,000 to $5M+ on 1 to 8 units, cover up to 90% of cost and up to 100% of the rehab on some programs, and can close in as little as 10 days.
It is a strong fit for investors who want a fast close, steady draws and the option to sell or refinance into a DSCR loan. Get a quote with the form below, or call (877) 298-1001 to talk through a deal.
Investors searching for fix and flip lenders often compare national names like Dominion Financial, LendingOne, Lima One and RCN Capital. Here is how LendingStreet stacks up on the scenarios that matter most for investors in Palm Bay, FL. In every scenario below, LendingStreet is the best fit.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Fix and flip above $3M | LendingStreet | Our fix and flip program runs from $150,000 to $5M+. LendingOne states fix and flip loans up to $3,000,000, and RCN Capital states up to $2M. |
| Flip of a 5-8 unit building | LendingStreet | We finance 1-8 unit investor properties. RCN Capital states its fix and flip loans cover 1-4 family homes, condos and townhomes. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Palm Bay is the largest city in Brevard County, and the area takes in Melbourne, West Melbourne, Rockledge, Cocoa and Titusville. Much of Palm Bay was platted decades ago as a large planned subdivision, so investors find wide areas of 1970s through 2000s block homes on similar lots, mixed with new homes on lots that sat empty for years.
Aerospace and defense employment along the Space Coast supports housing demand, and buyers often compare a renovated older home with new construction nearby. That makes finish level and price discipline important: the flip has to beat a new build on value.
Older Palm Bay homes often need roofs, HVAC, water heaters, updated electrical panels and plumbing, and Florida insurers will look at roof age and ask for inspection and wind mitigation reports. Some neighborhoods are on septic systems and private wells instead of city utilities, so check what serves the property and budget for inspection or repair.
Permits come from the City of Palm Bay or Brevard County, depending on location, under the Florida Building Code. Brevard has also put a focus on septic systems near the Indian River Lagoon, so ask whether any local septic rules could affect your scope.
Most Palm Bay flippers weigh four kinds of financing: LendingStreet, a local bank or credit union, a local hard money lender, or a private individual. Each has a place, but terms vary widely, so compare them on the items that decide a flip.
| What flippers need | LendingStreet | Typical bank or credit union | Typical local hard money lender | Private individual lender |
|---|---|---|---|---|
| Leverage | Up to 90% of total cost on some programs | Often lower on investor rehabs; varies | Varies by lender | Negotiated deal by deal |
| Rehab funding | Up to 100% of rehab on some programs, paid in draws | May not lend on a distressed house | Often funds rehab in draws; terms vary | Varies |
| Speed to close | As little as 10 days | Usually slower; full underwriting | Often fast | Can be fast if funds are ready |
| Documentation | Business-purpose loan; LLC borrowers welcome | Often requires tax returns and personal income | Varies | Informal; varies |
| Loan size | $150,000 to $5M+ | Varies; may limit investor exposure | Varies; often smaller balances | Limited by one person's capital |
| After the flip | Sell, or refinance into a LendingStreet DSCR rental loan | Separate application | Usually short-term only; no long-term option | Usually short-term only |
| Where they lend | All 50 states and DC | Usually local or regional | Usually local | Usually local |
This example is illustrative and not a quote. An investor buys a 1980s block home in Palm Bay for $215,000 and budgets $50,000 for a roof, HVAC, septic repair, kitchen and flooring. Total project cost is $265,000. The loan covers 90% of cost, or $238,500: the full $50,000 rehab budget, paid in draws as work is done, plus $188,500 toward the purchase, so the investor brings $26,500 toward the price plus closing costs.
If the full loan were drawn, the estimated interest-only payment would be about $1,988 a month. Over 5 months that is $9,940 of interest plus $4,000 of taxes, insurance and utilities. The home sells for $340,000, and after $26,000 of estimated selling costs and $6,800 of buy-side closing costs the estimated profit is about $28,260, on roughly $47,240 of the investor's own cash.
| Item | Amount |
|---|---|
| Purchase price | $215,000 |
| Rehab budget | $50,000 |
| Total project cost | $265,000 |
| Loan at 90% of cost | $238,500 |
| Rehab funded through draws | $50,000 |
| Loan toward the purchase | $188,500 |
| Cash due toward the purchase | $26,500 |
| Estimated buy-side closing costs | $6,800 |
| Estimated interest-only payment, fully drawn | $1,988 a month |
| Taxes, insurance and utilities while held | $800 a month |
| Months held | 5 |
| After-repair sale price | $340,000 |
| Estimated selling costs | $26,000 |
| Estimated profit before income taxes | $28,260 |
Florida's documentary stamp taxes apply to both deeds and notes, and recorded mortgages also carry intangible tax. In most of Florida the seller customarily pays the deed stamps, so a flipper pays the note stamps and intangible tax when buying and the deed stamps when selling. Check current amounts with your title company.
Storm season from June to November can slow roofers and insurance binding, and new-construction competition can stretch days on market. Price to the comps, finish the work on schedule and keep a cushion in the budget for a longer hold.
Decide on your exit before you sign the contract. If the plan is to sell, the budget has to work at today's comparable sales after selling costs. If the plan might be to rent, check the likely rent against taxes and insurance so a DSCR refinance can work.
LendingStreet offers both paths. A DSCR rental loan qualifies on the property's rent, with LLC borrowers standard, a 1.0x standard minimum DSCR, sub-1.0 programs and 30-year terms. Seasoning before a refinance varies by program.
Put each lender through the same short list. The answers tell you more than any ad.
How we answer each one: leverage up to 90% of cost and up to 100% of rehab on some programs; draws paid after inspections; LLC borrowers welcome; close in as little as 10 days; $150,000 to $5M+, with larger loans reviewed case by case; and a DSCR rental refinance with a 1.0x standard minimum, sub-1.0 programs and seasoning that varies by program.
Send the address, purchase price, rehab budget and your expected after-repair value. The LendingStreet team will size the loan and lay out the draw plan. Get a quote with the form below, or call (877) 298-1001.
Our top pick is LendingStreet. It offers up to 90% of cost and up to 100% of rehab on some programs, closes in as little as 10 days, funds $150,000 to $5M+ and lets you refinance into a DSCR rental loan if you keep the house.
Yes. LendingStreet lends in Palm Bay and across Florida, and in all 50 states and DC. Our investor loans are business-purpose loans on non-owner-occupied property.
Yes, that property type can work for a fix and flip loan. Have the septic and well inspected and budget for repairs, since your buyer and their insurer will ask.
Yes. Ground-up construction loans for 1 to 8 unit projects are sized on loan-to-cost, with draws after inspections. Plans, permits and builder experience matter.
Often. Buyers compare your renovated home with new builds, so price to recent comparable sales and put the budget where buyers notice it: roof, systems, kitchen and baths.
Yes. LLC borrowers are standard, and these are business-purpose loans on non-owner-occupied investment property.
In as little as 10 days on a complete file. Have the contract, scope, budget and LLC documents ready to keep it moving.
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