Long-term flip Fourplex
Investment Info:
Small multi-family (2-4 units) fix & flip investment in North Ogden.
Purchase price: $336,000
Cash invested: $30,000
Sale price: $535,000
I ended up rehabbing two of the four units. Renting out the other 3 units while I renovated a unit allowed me to break even monthly during each of the two renovations.
1 of the units tested positive for meth when I was buying it enabling me to get a big discount and during due diligence I confirmed with a reputable company that it would be cost just $4,000 to completely remediate the meth
Holding it for two years allowed me to see a lot of appreciation & get the lower capital gains tax rate
What made you interested in investing in this type of deal?
This was a long-term flip fourplex (two duplex on the same tax ID). I was initially drawn to it by the possibility of splitting up each duplex on their own tax ID but there was not enough land per city zoning to do that
