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Ahh ok, so what is the solution then ? I mean if the building itself crumbled in the EQ, not sure who is going to cover the internal stuff...

What is CEA? And isn't HO-6 policy already going to cover internal damages - inside the unit due to any reason incl. earthquake? My deductible is $1000, and i am paying $600/year for the standard HO-6 policy with dwelling: 80k, personaL: 40k, max liability 500k and medical covg 1k

Oh nice, well that saves me the hassle of spending more money on this one now, will have to just call HOA guys and hopefully they should be covering it. Perhaps, this is the only advantage i can vouch about now of buying an "ATTACHED" condo lol.

I agree and was about to get it but someone already put an offer on it and we didnt have the patience :(

Attached

Hello Guys, so i am paying $600 for HO-6 policy per year for the Attached Condo and it does not include earthquake coverage. What are some of the companies that you have used and the do and don'ts to watch out for to buy the earthquake coverage. Thanks guys,

Sounds like a paid article to scare the general public but either-ways, there's no data or reports that seems to testify the fact of asking for immediate full loan payments or this FBI thingy (jail and what not). Anyways, the worst i can see happening is the lender raising the interest rate and...

Good Question which raises 2 more additional questions: 1. If lenders or banks are really so worried about lending a 30 yr FHA (with 20% down) to a home-owner who initially lives in the property for 5 months and then rents it out, why don't they strictly do periodic physical site inspection...

Thanks for the info, is it a standard norm on all refinancing? I mean even if the home-owner switches and moves to a new lender? And also how big is the difference b/w non-owner vs owner occupied loan rates? And if in this case, the owner is able to get refinancing done through the same lender -...

Guys, thanks to brexit, now the interest rates are nearing to an all time low. Please answer the questions: 1. Considering its the first home purchase, If the home-owner is no longer living in the mortgaged house that he got as a primary residence and have rented it out, will the bank create...

True I had my agent put it at 100 more & it ended up renting for 200 less haha

There's no free lunches out there man, gotta take the risk to make it big, it can misfire certainly, but to live in fear and not do it is not the way to live life either :),

Ahh man...i would rather have you take my 5% than waiting to get my condo rented out in 2.5 months in irvine...wow i feel like a looser right now, having lost all that money :( However, realistically, the unit i bought is 1. Multi-floor (3 floor condo) 2. In Portola Springs 3. Tandem Garage...

I am sorry to hear that Panda and i am no mathematician, but the numbers look way off from a mortgage standpoint, you could have increased the rents yearly + if its a SFR, i think it might have rented atleast above 3k

Sorry but it took my agent 2.5 months to rent out my condo, NOT only was it brand new, but also BIG in size compared to the ones in my neighborhood, so i don't know how you have multiple applicants fighting for a condo in 1-2 weeks to grab it. PS: i bought in Portola Springs though :(

I wouldn't blink twice and will happily go with option #2, get a good CPA, you will get tax benefits + less stress if you get good tenants

This is the 1st most helpful constructive response :) 1. Thanks man, i am going to request the SFR home builder to apply it in. 2. Or i will have to get an estimate on how much will it cost to do this at the condo i am living in at + have to get HOA permission etc. 3. If #2 isn't viable and...

Well, the day it rents out for what i am paying for my mortgage (after my 20% down), it will be an investment property and then i don't care about it and buy my SFR in 3 years

I agree, well this is my 1st and the last condo in which i will ever live myself and i will be buying atleast a detached townhouse or a SFR in the near future and rather rent this crapbox out to tenants with kids since they barely play any music

Guys ...alright alright...so someone spends more than half a million dollars and guess what, these builder walls are so cranky and shitty that they can't keep some bass within-them, i am referring to a attached condo where at the time of purchase, the sales agent proudly vouched for how thick...