Advice I've been giving a lot recently to Clients...

Real Estate Advice| Finances| Client Relationships

May 01, 2023•1 min read

Advice I've been giving a lot recently to Clients...

Get a HELOC. I can't stress this enough. Having access to the capital locked within our homes can provide us with opportunities to build wealth and have financial flexibility. As small business owners, I encourage you to set up a home equity line of credit on your primary residence, as long as you have sufficient equity (typically up to 80% loan-to-value). It's important to clarify that this doesn't mean you should spend the money immediately.

Instead, keep it available for emergencies or investment opportunities. By having a HELOC in place, you can tap into your property's equity earlier, use it for a down payment on a new home or investment property, and expedite the selling process of your current home. Properly strategizing how to access your capital first can prevent the need to sell before buying.

HELOC home equity line of credit financial flexibilitywealth buildingsmall business owners equity accessemergency fund investment opportunitiesdown paymentcapital strategy

Seth Dailey

Seth is the Co-Founder of both The Dailey Group and Keller Williams Gateway in Baltimore, Maryland. He serves as the Operating Principal for the brokerage and as the team leader for The Dailey Group, which consistently helps over 150 families a year. Seth, a Montana native, is passionate about empowering leaders and teaching people to make smart financial moves. Prior to real estate, Seth held his CPA designation and worked as a mortgage lender before joining forces with his wife of 20 years, Alyce. Seth can usually be found at the nearest coffee shop with a personal growth book in hand while scribbling down his next great idea on the back of a napkin.

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