Jun

20

Found a nice place in Provo

Filed Under Utah Real Estate

Tim Whipple gave us a lead to a nice little home that has the capacity to rent to 4 single students from BYU. It could bring down the mortgage to less than our rent. We’re looking into it. We fear Provo’s rules about renting. Originally, I thought they just wanted Owner occupied homes. I’m coming to believe, from what I hear from others, that they don’t want people renting in the neighborhood at all. I don’t understand their line of thought. If they want clean neighborhoods, owner occupied should be sufficient. These laws seem very restrictive and make it difficult for new home buyers.


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2 Comments so far

  1. Nathan Turnbow on December 19, 2004 7:53 am

    I have been trying to get ahold of Tim Whipple but I don’t know where to get his phone #

  2. Lee Matthews -- Financial Concepts West on February 8, 2008 7:35 pm

    “Tim Whipple gave us a lead to a nice little home that has the capacity to rent to 4 single students from BYU. It could bring down the mortgage to less than our rent. We’re looking into it.”

    Home equity acceleration can be of *great* benefit when paying off rental properties:

    More and more folks are using a Home Equity Line of Credit (HELOC) or a business-line-of-credit (BLOC) or personal-line-of-credit (PLOC) as an interest cancellation account to accelerate their home equity and payoff their home *years* sooner than listed on their mortgage amortization schedule.

    Unfortunately, today’s Real Estate market means that folks can no longer count on appreciation to build home equity. Those who realize that they need to pay down their current mortgage debt are looking for alternate ways to aggressively (yet safely) build equity.

    And they’ve discovered a perfect online system to do that; they can focus on their wealth accumulation goals while accelerating their equity simply by using a Home Equity Line of Credit to ‘power’ the Money Merge Account™ financial solutions program.

    A typical 30 year loan (of whatever type) can be paid down in 1/3 to 1/2 the time — it’s a great way to save *huge* amounts of income by eliminating a mortgage amortization front-end interest load. (On a million-plus dollar home, I’ve personally seen where the Money Merge Account™ program will save the homeowner $750,000 in interest charges!)

    And the best thing – homeowners don’t have to refinance their existing mortgage or, in most cases, make any adjustments to their lifestyle.

    It is unfortunate that most of us were never taught to follow three essential principles: (1) Avoid paying interest, whenever possible, (2) Use other people’s money, whenever possible and (3) Find and use a financial system that will guide you, especially if you have the tendency to go off-track. The Money Merge Account™ software and the program’s counselors use these principles to keep each homeowner focused on their wealth accumulation goals.

    I’d be happy to provide further details…