Ogden has something the rest of the Wasatch Front is running short of: older, lower-priced houses that can be renovated and sold to buyers priced out of Davis and Salt Lake counties. The work is in the details of century-old brick, and the math depends on comps that Utah does not publish.
In short: LendingStreet funds fix and flip projects on 1-8 unit investment properties in Ogden and the surrounding area from $150,000 to $5M+. Some programs cover up to 90% of cost and up to 100% of the rehab budget, with closings in as little as 10 days. Loans are interest-only and short term, with an exit by sale or a refinance into a DSCR rental loan.
Most Ogden flips are early 1900s brick bungalows and cottages in Jefferson, East Central and the Central Bench, or postwar ranches in South Ogden, Riverdale and Roy. Typical scopes include kitchens, baths, flooring, windows, new electrical, updated furnaces and basement finishing to add bedrooms.
Buyers include first-time buyers, Hill Air Force Base households and people moving north from Salt Lake and Davis counties for lower prices. Many use FHA, VA or Utah state programs, which bring their own inspection and appraisal standards.
In the suburbs, split-level homes in Roy, Riverdale and Washington Terrace are common projects, with scopes focused on kitchens, baths, flooring and updated lower levels. They appeal to buyers working at the base who want a short commute.
The loan is based on purchase price, rehab budget and after-repair value. Some programs fund up to 90% of total cost and up to 100% of the rehab. Rehab funds are held back and released in draws as work is inspected, and interest is charged on what has been drawn.
Experience matters. Investors with completed projects may see higher leverage and simpler draws.
Investors buying two or three houses at once can often close them together, which helps when an Ogden seller is unloading several older rentals.
| Piece | How it works |
|---|---|
| Purchase | Funded at closing as a share of price |
| Rehab | Held back; released in inspected draws |
| Payment | Interest-only on drawn funds |
| Term | Short, matched to the project |
| Exit | Sale or DSCR refinance |
This example is illustrative and not a quote. An investor buys a 1920s brick bungalow in East Central Ogden for $285,000 and budgets $70,000 for a new kitchen, two baths, electrical, a furnace and a finished basement bedroom. Total cost is $355,000; the after-repair value is estimated at $440,000.
The loan covers 85% of the price plus the full rehab, or $312,250, about 88% of cost. Fully drawn, the estimated interest-only payment is about $2,602 a month. Over 6 months with taxes and insurance, carry totals about $17,472.
Utah has no real estate transfer tax, so selling costs are mostly commission and title, estimated at $28,600. After about $4,000 in purchase costs, estimated profit is about $34,928, with about $64,222 of the investor's cash in the deal.
These are planning numbers only. Your budget, contractor bids and the resale market set the actual results.
| Line | Amount |
|---|---|
| Purchase | $285,000 |
| Rehab | $70,000 |
| Loan | $312,250 |
| Carry, 6 months | $17,472 |
| Selling costs | $28,600 |
| Estimated profit | $34,928 |
Utah does not require sale prices to be made public. County records show that a property sold, but not for how much. Agents and appraisers rely on MLS data, so a local agent's comp report is essential for setting your after-repair value and checking it against what appraisers will see.
Be careful with online value estimates in Ogden; without public prices they can miss badly in either direction.
When you underwrite a deal, ask the agent for both sold and pending listings, and look at days on market. A renovated house that sits can eat into your margin through extra months of carrying costs.
Many central Ogden homes are unreinforced masonry. Mortar repointing, chimney repair and foundation work are common budget items. Some investors add seismic upgrades such as roof-to-wall ties, which can reassure buyers.
Older homes may also have knob-and-tube wiring, galvanized plumbing and lead-based paint. Work that disturbs paint in pre-1978 homes must follow lead-safe practices with a certified renovator.
A sewer lateral scope is also worth the cost on older lots with mature trees, since root intrusion and old clay pipe are common.
Ogden requires permits for structural, electrical, plumbing and mechanical work. Finishing a basement to add bedrooms is one of the best value-adds in the market, but each bedroom needs proper egress, usually a window well and a larger window. Unpermitted basement bedrooms can be left out by appraisers and can stall a buyer's loan.
Pull permits and keep final inspection records for the buyer.
Egress windows in older brick foundations take time and the right contractor. Get bids early, because cutting masonry for a new window well is not a quick job.
Snow and cold slow exterior work from late fall through early spring. Keep heat on in vacant houses to protect pipes. Spring and early summer bring the strongest buyer demand, so many Ogden flippers time completions for that window.
Inversion season in midwinter does not stop interior work, but snow can delay deliveries and inspections. Build a few weeks of slack into a winter schedule.
If the numbers favor holding, refinance into a DSCR loan that qualifies on the rent. Remember that a long-term rental can qualify for Utah's residential exemption, which keeps the tax line low. Get the Ogden business license in place before you lease. Our Ogden rate-and-term refinance page covers that step.
Many Ogden investors decide between sale and rental only after seeing the finished house, the rent comps and the refinance numbers.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the contract, rehab budget, comps and experience through the form below, or call (877) 298-1001.
Some programs fund up to 90% of total cost and up to 100% of the rehab, depending on the project and your experience.
In as little as 10 days once the file and title work are complete.
No. Utah has no real estate transfer tax, so your resale costs are mostly commission, title and closing fees.
Work with a local agent who can pull MLS sales. Utah is a non-disclosure state.
Yes, with permits and proper egress windows. Unpermitted bedrooms may not count in the appraisal.
Many central Ogden homes are unreinforced masonry. Some investors add seismic upgrades; budget for brick and chimney repairs.
In draws after each phase is inspected. Interest is charged on drawn funds.
Yes. Our fix and flip loans cover 1-8 unit investment properties.
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