Home equity is the difference between what your house is worth and what you owe on your mortgage.

Probably 8%+ mortgage interest at 40% down to make a safe assumption.

So can I calculate my cash on cash return like below $40K(appreciation)/($42k(Down payment)+(2.1K(Monthly payment for Mortgage+HOA)*36)) = 40/(42+75.6)= 34% so the annual cash on cash return is about 1.34 to find the cubit root.

There exists those of us that want a property in Costa Rica despite the issues we are discussing here.

We just need to verify that you have cash for the downpayment, closing cost, and up to 6 months of the mortgage payment as reserves.

I just go in at the first of every month and code each line item to the corresponding property and note what the expense was for (Repair, HOA Fee, Mortgage payment, etc).

I am going to finish the rehab and get it rented then resubmit for a rental loan.I have used Cashcall Mortgage twice and have been very happy with them but Elite seems to be more flexible and have more options so was going to see if they are competitive.

Hi Mike,I'm a Los Angeles area based mortgage broker that can assist.

Historically, real estate markets perform best when the economy is stable, with steady mortgage rates and consistent demand for housing and commercial properties.

Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck