Recently, we had our house appraised to see what value had accrued since our investment.
We've been working with our financial advisor on a possible next investment, and after reviewing all options, she recommended a creative approach:
Rather than liquidating an asset or getting a conventional loan for the new investment, she suggested borrowing short-term against the equity in our home and paying it back within a year.
That strategy makes sense if you truly intend to pay it back quickly — because banks often offer “introductory rates” on home equity lines, but once the rate jumps 300 basis points, that debt can get expensive fast.
I’m grateful for good financial advisors and bankers who focus not just on making a transaction, but on helping me achieve my goals while keeping more of my money — not giving it away to the banks or government.
And I’m equally grateful for good insurance brokers who help protect these investments smartly and responsibly.