Salt Lake flips revolve around brick: early 1900s bungalows and post-war cottages with basements that can be finished for extra bedrooms, on a fault line that makes unreinforced masonry a real consideration.
In short: LendingStreet offers fix and flip loans across Salt Lake City and the Wasatch Front on 1 to 8 unit investor properties, from $150,000 to $5M+. On some programs the loan covers up to 90% of total cost and up to 100% of the rehab, payments are interest-only and closings can happen in as little as 10 days. In Salt Lake, plan for basement finishing rules, radon, masonry and pricing without public sale prices.
Sugar House, Liberty Wells, 9th and 9th and the Avenues have older brick bungalows and Victorians with strong resale demand, while the Ballpark area and Central City are lower-priced and changing. On the west side, Rose Park, Glendale, Poplar Grove and Fairpark have post-war brick cottages at more affordable prices.
In the suburbs, West Valley City, Taylorsville, Kearns, Magna and South Salt Lake have 1960s and 1970s split-entry and ranch homes, while Millcreek, Murray, Holladay and Sandy are higher-priced. Davis County to the north and Utah County to the south add more options.
| Area | Typical housing | Common rehab scope |
|---|---|---|
| Sugar House, Liberty Wells, 9th and 9th | 1910s-1940s brick bungalows | Basements, systems, kitchens |
| The Avenues | Victorians and older homes | Historic exterior, structure, systems |
| Rose Park, Glendale, Poplar Grove | Post-war brick cottages | Basement finish, kitchens, baths |
| West Valley, Taylorsville, Kearns | 1960s-1970s split-entry homes | Cosmetic updates, flooring, layouts |
Finishing a basement can add bedrooms and value, but bedrooms need egress windows and the work needs permits. Utah has elevated radon levels in many areas, so test and budget for mitigation where needed.
Many older Salt Lake homes are unreinforced masonry, and the Wasatch Fault runs along the valley. Seismic upgrades are not always required for a cosmetic flip, but they can matter for insurance, buyer interest and larger renovations.
LendingStreet fix and flip loans run from $150,000 to $5M+ on 1 to 8 unit investor properties. On some programs the loan covers up to 90% of total cost (LTC) and up to 100% of the rehab budget, and a complete file can close in as little as 10 days.
Payments are interest-only over a short term. The rehab portion is held back at closing and released in draws as work is completed and inspected, so your contractor schedule and your draw requests should line up. Our investor loans are business-purpose loans on non-owner-occupied property.
This example is illustrative and not a quote. An investor buys a post-war brick cottage in Rose Park and finishes the basement with egress windows for two added bedrooms, along with a kitchen, baths, radon mitigation and flooring. The purchase price is $395,000, the rehab budget is $75,000 and the after-repair value, based on renovated sales nearby, is $580,000.
At 90% of the purchase price plus 100% of the rehab, the loan is $430,500, about 74% of the after-repair value. The estimated monthly interest-only payment on the full loan is about $3,767, and the plan is a 5-month hold. For simplicity the example assumes the full loan amount accrues interest for the whole hold.
After an estimated 7% in selling costs, the projected profit is about $37,191 on roughly $71,709 of cash invested. If the sale takes three months longer than planned, added interest and carrying costs of about $13,401 would cut the profit to about $23,790, which is why a realistic timeline matters as much as the rehab number.
| Item | Amount |
|---|---|
| Purchase price | $395,000 |
| Rehab budget | $75,000 |
| Loan (90% of price + 100% of rehab) | $430,500 |
| Estimated monthly interest-only payment | $3,767 |
| Interest over 5 months | $18,834 |
| Taxes, insurance and utilities | $3,500 ($700 a month) |
| Buy-side closing costs (estimate) | $9,875 |
| Selling costs (about 7%) | $40,600 |
| Sale at after-repair value | $580,000 |
| Estimated profit | $37,191 |
| Cash invested (down payment, closing, carry) | $71,709 |
Salt Lake City issues building permits through its building services division, and West Valley City, Millcreek, Murray and other cities run their own offices. Unincorporated areas fall under Salt Lake County.
Properties in local historic districts, including the Avenues, may need Historic Landmark Commission approval for exterior changes. If you keep a property as a rental in Salt Lake City, a business license is required for rental units.
Utah has no real estate transfer tax, which keeps closing costs on both ends of a flip down. Utah is also a non-disclosure state, so sale prices are not in public records. Comps come from the MLS, agents and appraisers, so work with someone who has access to that data.
Utah's primary residential exemption can apply to a long-term rental occupied as a tenant's primary home, but not to a vacant flip. Ask the Salt Lake County Assessor how the property will be taxed during your hold.
For statewide program details, see our Utah fix and flip loan page.
Every flip loan needs a clear exit. Most investors sell the renovated property and repay the loan from the proceeds. The other route is to keep it as a rental and refinance into a long-term DSCR loan, which qualifies on the property's rent instead of your personal income.
If you keep the house as a rental, the residential exemption can help the DSCR once a tenant moves in. See the local DSCR loan page for how those loans are sized.
A complete file gets a faster, clearer answer. Have these ready when you reach out.
LendingStreet lends on 1 to 8 unit investor rehabs across Salt Lake, Davis, Utah and Tooele counties. Send the address, purchase price, rehab budget and your after-repair value, and we will size the loan, check the numbers and come back with options.
Use the form below to get a quote, or call (877) 298-1001 to talk through a deal before you make an offer.
Utah is a non-disclosure state, so use an agent's MLS data or an appraiser. Lenders rely on the appraisal for after-repair value.
Yes, with permits and proper egress windows. Basement finishing is a common way to add value in Salt Lake homes.
No. Utah does not have a real estate transfer tax. You will still pay title, escrow, recording and commission costs.
Yes. We finance 1 to 8 unit investor rehabs across the Wasatch Front, subject to normal review.
On some programs, up to 90% of total project cost and up to 100% of the rehab budget. The final amount depends on the deal, the budget and the after-repair value.
As little as 10 days when the contract, budget, entity documents and title are ready.
Yes. Fix and flip loans are short-term, interest-only loans, and rehab funds are released in draws after inspections.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
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