All Forum Posts by: Jim Fang

Which one is a better choice for a buy and hold rental and why?

5% - at no cost vs. 4.125%- 1.125% origination point $5000

Thanks

Thank you Nathan for your input. The property is a rental and I do not live in it. In the case of a total loss, I will not try to rebuild it. Is it still make sense to buy the extended dwelling coverage? What are most landlords' choice on this coverage?

I am assuming the coverage A dwelling already cover 100% of the replacement, why an additional 25% extended dwelling coverage is needed? There are four fire stations in the 10min distance of my rental property so the chance of a total loss is very slime I guess. 

Any thought and suggestions would be greatly appreciated.

Thanks

Hi, I bought a rental property in 2018 and am working on tax return with turbotax now. Need to find land value and improvement value and numbers on county assessor's website are shown below. Why there is about ten fold difference between market value and assessed value? The latter is even smaller than land value? I bought it @ $375K+closing cost+repair cost.  the dwelling number on the insurance is 387k. How to calculate improvement value? Thanks a lot.