All Forum Posts by: Caleb Rigby

@Nathan Marden, since it's under the Utah legal limit, I wouldn't be concerned (even considering the fact that you're going to occupy one of the units). Honestly, there just hasn't been enough research on the effects of meth. If this were me, and you are getting a GOOD deal, then I wouldn't pass it up because of this very small detection. Just my $.02. 

Hey @Lloyd Loftis, curious as to how you arrived at your decision to look into Ogden? It's a great area to invest in, but it's becoming harder and harder to find rentals that have decent cash flow. Your best bet is to network with wholesalers that are spending a lot of marking $ and get on their cash buyers list, or, you can begin marketing yourself to find some off-market deals too. 

Welcome @Mark M. Hall! I'm not in Utah County but I am in Utah. What type of 'deal' are you looking to get into this summer...rental, flip, house hack? Good luck and don't hesitate to reach out if you have any questions. 

@Richard S Myers, it sounds like you need to work on building your buyers list in Utah. Have you started doing that? I know there are a bunch of threads here on Bigger Pockets that go into the best-practices to find/add buyers to your list.

@Gay Lloyd, I'll really try and make it (might not be able to because of my son's baseball game, but I'll try) there.

@Mercedes Smith, those levels are actually pretty low, compared to properties that we've purchased recently. $5k isn't a rip off, but it's probably not the best deal you could get either. I'd recommend calling Crime Scene Cleaners out of Layton - we've used them a couple of times and they are great to work with. 

We also do not disclose anything about meth, once it's been remediated. The neighbors should be ecstatic that you're cleaning it up and getting good people in there.  

@Britain Sorensen, congrats! I'd love to understand some of the numbers, as I'm trying to learn more about large multi-units in Utah. 

What will you cash flow each month? Are you managing it yourself or will you hire a property manager? Are any of the 18 units currently occupied? 

@Zachary Jensen, we flipped a mobile home in Roy a couple months ago and it turned out great. The owner found us from one of our Facebook ads and we negotiated the purchase price down to $15k (it needed some love) and put about $16k (including meth remediation) into it - sold it for $71k (cash offer) in February. 

Not an expert in that niche at all, but I'd suggest driving for dollars in the various parks and then marketing specifically to the distressed mobile homes (postcards, texts, cold calling, etc). 

@Zachary Jensen, just seeing this now. My numbers are based on using a contractor - so my numbers include materials + labor. 

Hey @Jake Clarkson, I'll post my numbers and then you can adjust them as needed. I mostly flip in Ogden, and we're doing rehabs for about $25-$35k, on average. This turns out to be about $13 per sq ft for light rehabs, $16-17 per sq ft for medium, and then about $20-25 per sq ft for the hairier projects, which I tend to not like as much. 

So for a 1,500 sq ft rambler that isn't in horrible shape, I'd budget ~$25k for a medium rehab. *One note though - you'll have to add extra money if you have roof replacements, expensive HVAC work, or significant foundation work. 

Hope this helps. Good luck.